AMP – native token of Flexa’s payment network – added to Grayscale DeFi Fund
Grayscale Investments, the world’s largest digital currency asset manager, and manager of both Grayscale DeFi Fund (the DeFi Fund) and Grayscale Digital Large Cap Fund (the Digital Large Cap Fund), announced the updated Fund Component weightings for each product in connection with their respective quarterly reviews.
In accordance with the CoinDesk DeFi Index methodology, Grayscale has adjusted the DeFi Fund’s portfolio by selling certain amounts of the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase Amp (AMP). As a result of the rebalancing, Bancor (BNT) and Universal Market Access (UMA) have been removed from the CoinDesk DeFi Index and the DeFi Fund.
Latest Fintech News: REPAY Announces Acquisition of Payix
AMP
AMP is the native token of the Flexa network, a payment network which enables crypto-collateralized payments at physical stores and online. Flexa uses the AMP token to collateralize digital asset payments while they are confirmed on their respective blockchains and settles the payments in fiat to the recipient. By enabling payments through the Flexa network, supporting merchants can more easily and trustlessly accept payment in BTC, ETH, and other digital assets. The Flexa network is one of a number of projects intended to accelerate the development of the blockchain into a mature peer-to-peer money system.
At the end of the day on January 3, 2022, the DeFi Fund’s Fund Components were a basket of the following assets and weightings.
- Uniswap (UNI), 42.33%
- Aave (AAVE), 13.06%
- Curve (CRV), 10.63%
- MakerDAO (MKR), 8.99%
- Amp (AMP), 7.39%
- Yearn Finance (YFI), 6.34%
- Compound (COMP), 5.02%
- Synthetix (SNX), 3.15%
- SushiSwap (SUSHI), 3.09%
Latest Fintech News: AXS Investments Enters ETF Space with AXS Astoria Inflation Sensitive ETF (PPI)
No new tokens were added or removed from Grayscale Digital Large Cap Fund. This announcement follows the October 2021 news that Grayscale adjusted the Digital Large Cap Fund’s portfolio and added Solana (SOL) and Uniswap (UNI). At the end of the day on January 3, 2022, the Digital Large Cap Fund’s Fund Components were a basket of the following assets and weightings.
- Bitcoin (BTC), 60.50%
- Ethereum (ETH), 30.13%
- Solana (SOL), 3.56%
- Cardano (ADA), 3.05%
- Uniswap (UNI), 0.77%
- Chainlink (LINK), 0.71%
- Litecoin (LTC), 0.69%
- Bitcoin Cash (BCH), 0.59%
Neither the DeFi Fund nor the Digital Large Cap Fund generates any income, and both regularly distribute Fund Components to pay for ongoing expenses. Therefore, the amount of Fund Components represented by shares of each fund gradually decreases over time.
Latest Fintech News: Majic Acquires 26% Stake in Bamboo at US$126 Million Post Money Valuation
[To share your insights with us, please write to sghosh@martechseries.com]
