Bitrue Football Fan Token Index is a cryptocurrency price index that tracks the market performance of certain football club Fan Tokens listed on the Bitrue Spot market. The Index is calculated by a formula that uses the weighted averages of the real-time prices of the relevant Fan Tokens constituting the Index, as published on the Bitrue Spot market, denominated in USDT.
Bitrue Football Fan Token Index Details
- Index Specifications
Index Symbol |
Index Name |
Description |
Base Date |
FOOTBALLUSDT |
Bitrue Football Fan Token Index |
Football Fan Token Index denominated in USDT |
2022-11-21 |
- Constituents
The constituents of the Bitrue Football Fan Token Index are the top Football Club Fan Tokens (by market capitalization) listed on the Bitrue Spot market. Information on the constituents of the specific index constituents is as follows:
Coin |
Weight (%) |
Weight (Quantity) |
Last Index Price (USDT) |
ACM
|
6.81% | 15.04675252 | 2.86 |
ASR
|
3.01% | 6.54713361 | 2.90 |
ATM
|
4.93% | 9.55557778 | 3.23 |
BAR
|
17.71% | 27.15708645 | 4.07 |
CITY
|
12.92% | 16.66091261 | 4.87 |
JUV
|
5.75% | 12.65654920 | 2.91 |
LAZIO
|
12.83% | 24.69954799 | 3.28 |
PORTO
|
10.54% | 22.56755684 | 2.93 |
PSG
|
13.71% | 13.93338791 | 6.22 |
SANTOS
|
11.79% | 13.02906242 | 5.74 |
Note: The above constituents, weights (%) and weight (Quantity) are updated after each position transfer. The Last Index Price (USDT) is an example price, if you want to see the real-time Last Index Price (USDT), please check in our Exchange section.
- Index Calculation
3.1 Index
The Bitrue Football Fan Token Index is calculated by reference to the weighted average prices of the Fan Tokens that constitute the Index, e.g., SANTOS/USDT, PORTO/USDT, LAZIO/USDT, etc.
The Index formula is as follows:
This formula ensures a continuous change of Index constituents/weight and that the price of the Index is only affected by a change to the underlying constituents’ price.
3.2 Divisor
The divisor on the Index Base Date is:
And at each Report Time t:
3.3 Weight
The weight of each constituent of the Index is calculated by a weighting factor (the weight will remain unchanged between Index rebalances):
The weighting method for the Bitrue Football Fan Token Index is market cap weighting with a weighting factor calculated as follows:
3.4 20% Cap of Weight
For constituents whose weight is < 20%:
- Define count_capped = count of constituents whose weight is capped at 20%
- Define sum_non_capped = sum of all market cap of constituents whose weight is < 20%
- Formula:
- Rebalances
The launch date of Bitrue FOOTBALL/USDT symbol is 2022-11-21, the first rebalance date is 2022-11-24.
4.1 Regular Rebalances
The Index constituents and their weights will be automatically rebalanced every Thursday at 10:00:00 UTC to adapt to changes in the market and to reflect the respective fluctuation of each constituent’s Market Cap in the Index. For more details about weight rebalancing, please refer to part 2 above.
4.2 Special Adjustments
Special adjustments are deemed necessary when one or several constituents face drastic changes (e.g., delisting or no organic volume). Bitrue will keep users informed of future Index adjustments.
Two kinds of special adjustments can occur:
- Exclusion of an existing constituent and recalculation of the weights (and Divisors) for the remaining constituents; or
- Exclusion of an existing constituent and replacement with a different Football Fan Token listed on Bitrue Spot market, where recalculation would also be needed, which will involve the index to be rebalanced
4.3 Hard Fork/Airdrop/Mapping Adjustment
The Bitrue Football Fan Token Index, which is based on blockchain technology, will be adjusted for hard fork/airdrop/mapping following these guidelines:
- No adjustments needed for soft forks or hard forks that do not generate new tokens;
- For hard forks/airdrops that create a new token, the new token should be included in the Index with the same weighting as was given to the original token and excluded on the next regular rebalance if sample selection criteria** are not met; and
- For airdrops/mappings which lead to a token being replaced by new tokens, especially for split/reverse split occasions, the existing token should be replaced by the new token(s) with the weight adjusted according to the split ratio.
*Disclaimer: The formulas detailed in this article are subject to change without further notice. Please refer to this article for the most updated formulas.