On one hand I was like , please continue doing that because I need to buy moree but on the other side it would be unfair if they don't really know what INDEX is and what it is worth so today I will try to explain the real value of 1 INDEX token .
What is INDEX ?
In order to understand the worth of INDEX token you must know what it is -
The HE-Index is 100% backed by the tokens it represents. That means if the token represents 1000 LEO tokens, it will hold 1000 LEO tokens!
We regularly review all the top performing tokens within Hive-Engine and select the top tokens to represent the token. This is based on volume averages over the history of each token for a set time.
For every INDEX purchased, a weight is given to the individual tokens represented, INDEX then purchases the corresponding weight of each token.
100% backed by every token it represents!
What tokens are inside the INDEX ?
I have recently posted about this on my blog which explains
- What tokens are within INDEX
- What are the proportion of each token
- Tokens worth in USD
Worth of 1 INDEX - calculation
Let's now jump into the calculation part .
If you read my post mentioned above or if you checked out the holdings page of the official website you will get to know that INDEX holds a total of 13 tokens right now .
13 tokens but each varies
- in proportion
- in type ( some are gaming tokens , some are dividend yielding tokens etc )
- in USD value .
Now how to calculate 1 INDEX value ?
1st - There are 53,004.578 INDEX in circulation which is in various users wallet . Reference
2nd - The total USD worth of all the tokens inside of INDEX amounts to - $6,157.918 Reference
3rd - Let us convert the USD to HIVE -
At current price the total value of tokens inside INDEX in hive = 6157.918 / 0.116 = 53085.5 HIVE
Note- The 6157 $ value is not constant and 0.116 $ is the value of HIVE while posting this , which is not constant too
4th - So now to calculate each INDEX worth in HIVE we divide -
Total HIVE / Total INDEX
= 53085/ 53004
= 1.0015 HIVE
So 1 INDEX is actually worth a little over 1 HIVE right now . In Hive-Engine market it is being sold at around 0.9 HIVE .
Please correct me if I am wrong in any of the above steps .
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