ApolloX Football Fan Token Index is a cryptocurrency price index that tracks the market performance of certain football club fan tokens listed on the spot market.
The Index can help users discover the price trend of top football fan tokens relative to the overall cryptocurrency market direction.
1. ApolloX Football Fan Token Index Details
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Index specifications |
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Index Symbol |
FOOTBALLUSDT |
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Index Name |
ApolloX Football Fan Token Index |
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Description |
Football Fan Token Index denominated in USDT |
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Base Date |
2022-08-31 3:00 (UTC) |
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Base Index |
1000 USDT |
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Index Constituents |
The ApolloX Football Fan Token Index consists of the top Football Club Fan Tokens (by market capitalization) on mainstream spot exchanges. |
2. Index Calculation
2.1 Index
ApolloX Football Fan Token Index is calculated by reference to the weighted average prices of the Fan Tokens that constitute the Index.
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.
2.2 Divisor
The divisor on the Index Base Date is:
And at each Report Time t:
2.3 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 ApolloX Football Fan Token Index is market cap weighting with a weighting factor calculated as follows:
2.4 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:
3 . Rebalances
The launch date of ApolloX FOOTBALLUSDT contract is 2022-09-06, with the first rebalance date on 2022-09-08.
3.1 Regular Rebalances
The Index constituents and their weights will be automatically rebalanced every Thursday at 08:00:00 UTC to adapt to changes in the market and to reflect the respective fluctuation of each constituent’s Market Cap in the Index.
3.2 Special Adjustments
Special adjustments are deemed necessary when one or several constituents face drastic changes (e.g., delisting or no organic volume).
Two kinds of special adjustments can occur:
- Exclusion of an existing constituent and recalculation of the weights (and Divisort) for the remaining constituents;
- Exclusion of an existing constituent and replacement with a different Football Fan Token. Recalculation would also be needed, and the index would be rebalanced.
3.3 Hard Fork/Airdrop/Mapping Adjustment
Taking into consideration the peculiarities of cryptocurrency price index, ApolloX Football Fan Token Index 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.