In just six weeks, the price of the DPI token has plummeted by more than 64%.
From August, BADGER, the governance token of BadgerDAO, an Ethereum-powered Bitcoin yield system, will be incorporated in Index Coop’s DeFiPulse Index (DPI) token.
Index On June 26, Coop confirmed the news, stating that BADGER’s inclusion will be delayed by one month owing to other updates being prioritized.
On the first day of each month, the DPI index token rebalances, altering allocations based on supply and price data given by CoinGecko. During rebalancing, tokens will not be given a weighted more than 25%.
As of this writing, UNI has the highest allocation in the DPI Index, accounting for about 26.5 percent, followed by AAVE (18.4%), MKR (13.5%), and COMP (9.3%).
SUSHI, YFI, and SNX each have a weighted allocation of between 7% and 8.6%, whereas LRC, REN, KNC, and BAL each have a weighted percentage of between 1.2 percent and 2.4 percent. CREAM, FARM, and MTA each account for less than 1% of the index.
Wrapped tokens, synthetic assets, tokenized derivatives, tokens linked to tangible assets, and tokens that reflect ownership claims to other tokens are not included in the index.
DPI has lost over two-thirds of its value in the previous six weeks, plummeting from an all-time high of $656.49 on May 12 to $234.
Despite a steep drop during the latest crypto market meltdown, DPI was still up more than 300 percent from its low of $57.20 in November 2020.