Nansen Expands Offerings with NX8
Nansen, a prominent analytics firm focused on cryptocurrency, has expanded its offerings in the realm of on-chain finance by introducing NX8, a tokenized index that monitors eight of the most significant Layer-1 networks. This initiative comes in response to the increasing trend of transforming blockchain data into investment opportunities. NX8 aims to make accessing the key base layers driving the current crypto markets more straightforward while also providing diversification for investors.
Key Networks Tracked by NX8
The index specifically tracks networks that play a crucial role in the cryptocurrency landscape, including Bitcoin, Ethereum, Solana, BNB Chain, TRON, Hyperliquid, Avalanche, and Sui. These networks are selected based on their capacity to attract users and developers, thus fostering growth within the DeFi, stablecoin, real-world assets, and derivatives ecosystems. To craft this index, Nansen draws on insights from over 500 million labeled blockchain addresses, which inform the index’s construction and its periodic rebalancing, ensuring it remains relevant and reflective of market movements.
Collaboration and Expertise
Developed in collaboration with OpenDelta, which is responsible for token issuance and the structuring of on-chain components, NX8 also benefits from the expertise of GMCI in managing its index weighting and rules. This partnership creates a harmonious blend of market analytics, disciplined index methodology, and practical blockchain execution.
CEO’s Vision for NX8
Nansen’s CEO, Alex Svanevik, emphasized the purpose of NX8, asserting that it provides a user-friendly method for investors to obtain diversified exposure to the blockchains influencing the future of finance. He highlighted that NX8’s design as a foundational asset—rather than a fleeting trading option—is informed by a combination of professional index strategies and zero asset-under-management fees, aiming at long-term portfolio enhancements.
Launch and Trading Details
For its initial launch, NX8 will be made available on the Solana network, which has been chosen for its efficiency in processing transactions and its low fees. Nonetheless, the index is not confined to Solana; it employs LayerZero Omnichain Fungible Token standards, allowing for potential expansion across multiple blockchain networks in the future.
The trading of NX8 will commence on the Orca exchange, with access facilitated through various aggregators like Jupiter, Kamino Swap, and Dflow. To ensure security and regulatory compliance, entities such as Anchorage and Hex Trust are providing custodial services, while Accountable facilitates real-time verification of assets.
