DeFi Momentum Index (DMX)

Overview :

Amun’s DeFi Momentum Index Token (DMX) is a self-adjusting DeFi exposure vehicle that takes into account the “momentum” of its constituents. As top DeFi tokens gain steam in the market they are added to the basket, and as they lose steam they are removed. Users have the option of minting/burning DMX tokens using stablecoins or a blend of the basket’s current constituents. Daily adjustments ensure momentum is adequately captured, and aggregating orders across the cheapest decentralised exchanges results in minimal costs.

Methodology :

Tokens can be purchased from UniSwap, or minted natively through the interface on this page. Upon sending ETH to the token’s smart contract, a swap is initiated (using the oven feature) to match the token’s current constituents. Because of the oven, this process is not initiated until enough ETH has been received (often times from multiple token purchasers) to ensure the lowest possible gas cost, without sacrificing urgency. ADMX holds the eight DeFi tokens (all ERC-20 tokens) with the strongest upward “momentum” over the past seven days, and rebalances only as necessary – but at most once per day. Upon rebalancing, the token that has fallen out of the top eight is swapped for the token that has entered the top eight in terms of momentum. If applicable, this process is done with multiple tokens. Upon burning their ADMX tokens, a user receives the appropriate amount of its constituents back in their wallet. They can also sell their ADMX tokens on UniSwap.

Fees :

All tokens incur a management fee of 1% annually, which is waived for all token holders through the end of 2021.