Reference Rates v2.9 Release Notes

Coin Metrics is pleased to announce the version 2.9 release of our Hourly Reference Rates and version 0.10 release of our Real-Time Reference Rates. Updated methodology documents for both products can be found here and here.

Coin Metrics produces the CM Reference Rates, a collection of prices quoted in U.S. dollars, published once per hour and once per second, for a set of cryptocurrencies and fiat currencies. 

This release includes a regularly scheduled reconstitution of the constituent markets for all assets, the addition of several additional cryptocurrencies to our coverage universe, and some terminations to our coverage universe. 

Reconstitution of Whitelisted Markets 

The constituent markets that serve as the input data source for the calculation of the reference rates for each asset was refreshed on May 18, 2021 as part of a regularly scheduled quarterly review. During each quarterly review, our Market Selection Framework is applied and the highest scoring markets are selected for each asset. 

Coverage Universe Additions

This release expands our coverage universe to include 16 additional assets. Together with the fiat currencies described above, this release brings our total coverage universe to a total of 365 assets. The additional assets are included below.

  • Internet Computer (icp)
  • Cope (cope)
  • MAPS (maps)
  • Bitcoin Standard Hash Rate Token (btcst)
  • Cartesi (ctsi)
  • Ergo (erg)
  • Wootrade Network (woo)
  • Prometeus (prom)
  • Stratis (strax)
  • Neutrino Dollar (usdn)
  • Conflux (cfx)
  • Mdex (mdx)
  • NKN (nkn)
  • The Sandbox (sand)
  • Function X (fx)
  • Phala Network (pha)

Coverage Universe Terminations

The following 3 assets are terminated from our coverage universe due to low volume from our constituent markets, token swaps, token rebrandings, or delistings from exchanges.  

  • Tierion (tnt)
  • Pundi X (npxs)
  • South African Rand (zar)

About the CM Reference Rates

The CM Reference Rates are designed to serve as a transparent and independent pricing source that promote the functioning of efficient markets, reduce information asymmetries among market participants, facilitate trading in standardized contracts, and accelerate the adoption of cryptocurrencies as an asset class with the highest standards. The reference rates are calculated using a robust and resilient methodology that is resistant to manipulation and adheres to international best practices for financial benchmarks, including the International Organization of Securities Commissions’ (IOSCO) Principles for Financial Benchmarks. The Coin Metrics Oversight Committee and an independent governance structure protect the integrity of the reference rates and ensure the reference rates serve as sources of transparent and independent pricing.

Please contact Coin Metrics through our website or at info@coinmetrics.io for more information on the CM Reference Rates.

 

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