CME Launches Reference Rates for AXS, CHZ, and MANA Tokens

• The US’s largest and most diversified derivatives market, the Chicago Mercantile Exchange (CME) announced the launch of reference rates for Axie Infinity (AXS), Chiliz (CHZ) and Decentraland (MANA) on Jan.30.

• CME Group’s head of cryptocurrency products, Giovanni Vicioso said that the reference rates and indexes will allow investors to access reliable pricing data for AXS, CHZ and MANA.

• The announcement follows CME’s late December announcement that the company launched three new decentralized finance (DeFi) and reference and real-time indexes for Curve (CRV), Synthetix (SNX), and Aave (AAVE).

The US’s largest and most diversified derivatives market, the Chicago Mercantile Exchange (CME) recently announced the launch of reference rates for three major metaverse and sports ecosystems’ tokens: Axie Infinity (AXS), Chiliz (CHZ) and Decentraland (MANA). This allows investors to access reliable pricing data for AXS, CHZ and MANA in a way familiar to traditional finance participants.

The reference rates and indexes will be priced in dollars, published daily at 4:00 PM GMT and use data from at least two exchanges each, including Bitstamp, Coinbase, Kraken, itBit and LMAX Digital. This move is part of CME’s mission to help investors price sector-specific portfolios, develop structured products and manage price risk around various Metaverse-based projects.

CME Group’s head of cryptocurrency products, Giovanni Vicioso also pointed out that neither the reference rates nor the indexes will be tradeable products and are solely meant to help investors access reliable pricing data.

The announcement follows CME’s late December announcement that the company launched three new decentralized finance (DeFi) and reference and real-time indexes for Curve (CRV), Synthetix (SNX), and Aave (AAVE). This will allow investors to capture more than 40% of the total value locked in DeFi protocols on ethereum (ETH).

Back in August, the CME also launched bitcoin (BTC) and ethereum futures, allowing investors to trade on the licensed exchange Euro-denominated BTC and ETH futures contracts. This allows traditional finance participants to access crypto-based products in a familiar way.

The launch of reference rates for AXS, CHZ and MANA is a major milestone for the crypto industry, as it shows that the industry is maturing and becoming more accessible to traditional finance participants. With the launch of these reference rates, investors now have more options when it comes to accessing reliable pricing data for major metaverse and sports ecosystems’ tokens. This will open up more opportunities for investors and create a more diverse and liquid crypto market.

8. January 2023