Cryptex Finance has just launched the JPEGz index, which represents the marketplace capitalization of the ten most well-known NFT collections.
Cross-chain DeFi platform Cryptex Finance has officially launched JPEGz, an indicator token primarily based on the marketplace capitalization of the prime ten hottest NFT collections at the moment, in accordance to the official announcement.
JPEGz, the world’s very first complete NFT marketplace capitalization token
Now proceed to reside @Referee
Data powered by @coinbasecloud & @chainlink
Governed by CTX pic.twitter.com/IYNKVm9dFS
— Cryptex Finance (@CryptexFinance) February 7, 2023
As a consequence, JPEGz is calculated working with the weighted floor selling price system, primarily based on the dominance of Bored Ape Yacht Club and CryptoPunks from Yuga Labs, CloneX, Cool Cats, Doodles, Vee Friends, World of Women, and quite a few other collections. wave.
The indicator is accessible on the decentralized application Cryptex Finance and can be traded on Uniswap and Slingshot by means of Level two Arbitrum.
Data is fed into JPEGz by means of Chainlink’s Oracle NFT Floor Price Feeds architecture along with an aggregation algorithm from Coinbase Cloud.
Speaking about the over occasion, Joe Stico, co-founder of Cryptex Finance, is delighted:
“For the first time, users can track 10 popular NFT collections in ETH or DAI through a single indicator, without tracking each NFT individually.”
Cryptex Finance when launched a token TCP extension it represents in excess of two,000 cryptocurrencies by 2021. But this is not the very first indicator token to hit the marketplace. In September 2021, Bloomberg News partnered with Galaxy Digital DeFi index launched to track 9 tokens of this decentralized marketplace.
The closest is the BlueBird index which incorporates BNB, DOGE and MASK launched by Binance final Novemberhe was mentioned to be following the hype with Elon Musk and Twitter to acquire extra trading volume for the exchange at the time.
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