OpenDelta Launches NX8 and Enters Into Index-based Crypto Market

OpenDelta has launched NX8, a tokenized Layer-1 index, in partnership with blockchain analytics firm, Nansen. The new product gives OpenDelta an entry into the index-based onchain crypto market. NX8 is designed to track performance across many Layer-1 blockchains services carrying out most onchain activities.
NX8 tracks eight major Layer-1 networks that the firm has certified to be able to sustain real-world usage. The initial index composition includes Bitcoin, Ethereum, Solana, BNB Chain, TRON, Hyperliquid, Avalanche, and Sui.
According to OpenDelta, the index is built to reflect the current structure of the onchain economy, where different networks serve different economic purposes rather than competing for the same use cases. The firm says that with this approach, there would be a broader and more systemic exposure to Layer-1 infrastructure rather than full concentration on just one asset.

Details of the NX8 Launch

The index on the system follows a set of rules that are provided by the GMCI, with constituents that are weighted by market capitalization and capped at 20% per asset. The product is rebalanced quarterly, and a few reviews would be conducted every six months in order to reflect changes in long-term network performance and market structure.
Beyond just tracking price, the product plans to incorporate a native onchain yield generation. A portion of the underlying assets would be staked directly on supported networks and delegated to validator infrastructure operated by Nansen.

With this, all the networks would be able to participate in network consensus and the generation of staking rewards. Bitcoin exposure uses a separate yield-generation strategy different from the proof-of-stake delegation.
The company also claims to to provide more transparency, thereby partnering with other blockchain networks to provide real-time onchain verification of the assets backing NX8, some of which includes the total value locked, net asset value, asset composition, and token supply.
With this new launch, it is clear that NX8 is the first protocol-based product launched under Nansen’s Joint Venture Protocol initiative, and it shows that the company plans to co-create and co-fund many other onchain infrastructure projects with strategic partners.

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