#What is NX8 and Why is it Important for Investors?
NX8 is a new tokenized index product launched by Nansen, a leading blockchain analytics firm. This index provides diversified exposure to eight major Layer-1 blockchains, including Bitcoin, Ethereum, Solana, BNB, TRON, HYPE, Avalanche, and SUI. These cryptocurrencies are significant as they play crucial roles in a variety of use cases, including stablecoins, decentralized finance (DeFi), real-world asset tokenization, and derivatives trading.
#How Was NX8 Developed?
The development of NX8 involved a collaboration with OpenDelta, and utilizes a methodology outlined by GMCI. Nansen's analytics, which are based on extensive data from over 500 million labeled addresses, guide the construction and periodic rebalancing of the index to ensure it accurately reflects the performance and relevance of these blockchains.
#What are the Custody and Security Features?
Investors can have confidence in the custody of assets through regulated firms such as Anchorage and Hex Trust. Additionally, real-time asset verification is facilitated by Accountable, providing another layer of security for investor confidence.
#How Does NX8 Operate Across Different Blockchains?
NX8 operates on Solana while employing LayerZero’s Omnichain Fungible Token standard for seamless multichain compatibility. This enables investors to trade the index on platforms like Orca, and access it through aggregators like Jupiter, Kamino Swap, and Dflow.
#What Benefits Does NX8 Offer to Investors?
NX8 simplifies the process for investors seeking diversified exposure to pivotal blockchains in finance's evolving landscape. It combines a professional index methodology, on-chain composability, and eliminates asset under management fees, creating a solid foundational asset for long-term cryptocurrency portfolios.
#What is Nansen’s Broader Vision?
NX8 is the inaugural product of Nansen's newly established Joint Venture Protocol, which seeks to accelerate the development of tokenized financial infrastructure. This launch marks a strategic shift for Nansen as it transitions from purely analytics to developing tangible on-chain financial products, further expanding its offerings following its introduction of AI-driven trading tools.