Introducing MEEM, The Worlds First Fully Decentralized MEME Index
September 24, 2024 | Joe
Cryptex is beyond thrilled to deploy a brand new Index market for the DeFi ecosystem.
MEEM is a collective of MEMEs in a single, fully decentralized index solution.
MEEM is fully upgradable and more components can be added over time.
Criteria:
- Classified as Memecoin (except ETH)
- Ranked top 100 by market cap
- Sufficient liquidity on Ethereum
The index is managed by the Cryptex DAO via on chain protocol governance.
MEEM is now live as a fully decentralized perpetual market on Arbitrum.
With a 1:1 MEEM Index deploying on Base soon™️
MEEM Components:
DOGE, SHIBA, PEPE, FLOKI, ETH
Weighting:
20%, 20%, 20%, 20%, 20%
Index formula: MEEM Index Price = 0.2 (Current DOGE Price / DOGE Mark Price) + 0.2 (Current SHIB Price / SHIB Mark Price) + 0.2 (Current PEPE Price / PEPE Mark Price) + 0.2 (Current FLOKI Price / FLOKI Mark Price) + 0.2 (Current ETH Price / ETH Mark Price)*
MEEM is powered by:
- Chainlink: Low latency price feeds
- Perennial: Infrastructure
- Gauntlet: Parameter calculations