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Liquid Index Series April 2019 Quarterly Review

Brave New Coin Index Governance Committee announces the following items discussed during the BNC Quarterly Index Review. This change will affect the Bitcoin Liquid Index (BLX), Ethereum Liquid Index and XRP Liquid Index (XRPLX).

XRP Liquid Index (XRPLX) Launch

The Index Committee is pleased to announce that a new Liquid Index is ready to be released. The XRPLX will follow the same methodology as the BLX and ELX, including the Price Anomaly Factor and tracking the most liquid end of the XRP market.

The official launch date will take place on 1st May 2019.

BTCC Volume on BLX

The decision has been taken to recalculate the BLX volume during the period where BTCC volume spiked in regards to the 0% trading fees and the fallout of suspected wash trading.

Update: The release will take place on 21/05/2019

Price Anomaly Factor (PAF) implementation

The PAF will be applied as of this quarter to increase the robustness of the LX Series. This Factor decreases the impact of a diverging constituent in the Index price.

Update: The release will take place on 1/05/2019

Trust Factors changes

After an internal analysis, it was decided to remove the subjective criteria (external audit, response to security incidents, withdrawal capabilities) from the trust factor calculations. The trust factors will be now purely algorithmically generated based on prior perfomance. This change also makes the LX series further aligned with the IOSCO guidelines by removing these elements.

Update: The release will take place on 1/05/2019

Constituent evaluation

The Index Committee decided to start analyising the following markets because of their significant liquidity. The below marketplaces and their pairs will be evaluated during the next quarter for inclusion:

  • ItBit for ETH/USD
  • Coinbase Pro for XRP/USD
  • Kraken for ETH/USD
  • Kraken for BTC/USD

Please see the below public release for full details on this announcement.


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