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Switzerland’s Compass Financial Technologies Launches DeFi Index Product

News
Switzerland’s Compass Financial Technologies Launches DeFi Index Product

Compass Financial Technologies, a Swiss-based leading cryptocurrency index solution provider has announced the launch of the Compass Crypto Basket Fundamental DeFi Index (CCBFDEFI). The new index provides institutional investors with exposure to a group of 10 DeFi cryptoassets through a novel weighting system and rebalancing monthly, according to a press release on February 22, 2022.

Compass Unveils Index to Track Top 10 DeFi Tokens

Compass Financial Technologies, a top crypto index provider that is focused on the design, calculation, and publication of financial market benchmarks, indices, and more, has rolled out a new crypto index solution dubbed the Compass Crypto Basket Fundamental DeFi Index (CCBFDEFI).

As the decentralized finance (DeFi) ecosystem continues to grow and mature, with more and more institutions and enterprises now making inroads into the industry, Compass Financial Technologies says the latest product is designed to make it easier for investors to allocate their funds to the most efficient DeFi tokens.

“Appetite for digital asset exposure through institutional quality solutions is growing significantly. Incorporating fundamental metrics in index creation offers investors the possibility to allocate in the most efficient DeFi tokens based on rational economic indicators,” said Guillaume Le Fur, the CEO of Compass.

A First of Its Kind Index Solution

Founded in 2017, Compass Financial Technologies has established itself as a leader in the financial sector, calculating indices that track more than $5 billion in assets and the company has made it clear that its latest crypto index is designed to offer a reliable institutional benchmark to the rapidly evolving DeFi space.

According to a press release by the company, the CCBFDEFI offers institutional investors broad exposure to DeFi by tracking a basket of 10 leading tokens that are actively involved in the space through an innovative weighting mechanism and monthly rebalancing. 

At a time when the lack of regulatory clarity in the global crypto space has become a serious impediment in the growth of the industry, Compass says its new CCBFDEFI is compliant with existing European Union Benchmark Regulations.  

Compass claims the new index is the first-ever institutional cryptocurrency index that introduces a fundamental weighting model by tracking liquidity and revenue generated by decentralized finance protocols by using on-chain data to get the exact weighting of each asset that makes up the basket.

The CCBFDEFI is now live on Bloomberg and Refinitiv under the ticker CCBFDEFI and.CCBFDEFI respectively and is readily licensable by investment product issuers.

The firm has revealed that the maximum weighting for any of the consistent token is capped at 35 percent and the assets that make up the basket are selected every month. 

Some of the established DeFi tokens that can be added to the CCBFDEFI basket include Aave (AAVE), Uniswap (UNI), SushiSwap (SUSHI), and Compound (COMP), amongst others. 

The launch of the Compass CCBFDEFI index is coming at the heels of a fresh partnership with CoinShares, a leading digital asset management firm focussed on providing financial products and services for institutional investors.

At the time of filing this report, the total value locked in DeFi sits around $199.07 billion, with Curve (CRV) maintaining a 9.47 percent DeFi market dominance, with a TVL of $18.86 billion, according to Defi Llama.