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What Is Binance Bluebird Index?

2022-11-02 03:13
Binance Bluebird Index is a cryptocurrency price index launched in November 2022 that tracks the performance of BNB, DOGE and MASK. The Index is calculated using a formula that incorporates the weighted averages of the constituent tokens’ real-time prices on the Binance Spot market, denominated in USDT.

Binance Bluebird Index Details

1. Index Location

You can view the Binance Bluebird Index chart and live data on the Futures USD-M Index page.

2. Index Specifications

Index Symbol
Index Name
Description
Base Date
BLUEBIRDUSDT
Binance BLUEBIRD Index
BLUEBIRD Index
denominated in USDT
2022-11-02 08:00 (UTC)

3. Base Index

The base level of the Index is 10 as of the Index Base Date.

4. Constituents

For information on the latest constituents of the Binance Bluebird Index, go to the Futures Index and click [Index]. Select [Symbol] - [BLUEBIRDUSDT] - [Type] - [Price Index]. Then scroll down and click [Component Info].

5. Index Calculation*

5.1 Index
The Binance Bluebird Index is calculated by reference to the weighted average prices of the tokens that constitute the Index, i.e, BNB/USDT, DOGE/USDT, MASK/USDT.
The Index formula is as follows:
Where
This formula accounts for a continuous change of Index constituents/weight and ensures that the price of the Index is only affected by a change to its constituents’ price.
5.2 Divisor
The divisor on the Index Base Date is:
And at each Report Time t:
Where
5.3 Weight
The weight of each constituent of the Index is calculated by a weighting factor (the weight will remain unchanged between Index rebalances):
The weighting method for Binance Bluebird Index is volume/market cap constructed weighting with weighting factor calculated as follow:
5.4 Example
The following table shows how the Binance Bluebird Index is calculated.
NOTE: The figures in the following table are illustrative only and may not be reflective of the current constituents, values, and/or weightings of the Index as in effect at any point in time. Please refer to the live Index page for up-to-date data (“component info” tab).
Base Asset
Name
Market Cap (USDT)
Perpetual Volume (USDT)
Weight (USDT)
Weight in %
BNB
BNB
51,658,025,397.00
9,133,780,882
1231.990912
51.8116%
DOGE
Dogecoin
18,683,606,930.00
97,407,158,229
995.5411545
41.8677%
MASK
Mask Network
113,215,908.00
9,427,250,557
150.2955116
6.3207%
Total
2377.827578
100.00%

6. Rebalances

The launch date of Binance BLUEBIRD Index is 2022-11-02 08:00 UTC, the first rebalance is scheduled for 2022-11-10. 08:00 UTC.
6.1 Regular Rebalances
The Index constituents and their weights will be automatically rebalanced every Thursday at 08:00:00 UTC to adapt to changes in the market and to reflect the respective fluctuations of each constituent’s market capitalization. For more details about weight rebalancing, please refer to section 5.3 (Weight) above.
6.2 Special Adjustments
Special adjustments are deemed necessary when one or several constituents face drastic changes (e.g., delisting or lack of organic volume). Binance will keep users informed of future Index adjustments.
Two kinds of special adjustments can occur:
  • Exclusion of an existing constituent and recalculation of the weights (and Divisorst) for the remaining constituents; or
  • Exclusion of an existing constituent and replacement with a different Bluebird listed on Binance Spot market, where recalculation would also be needed, causing the index to be rebalanced as well.
6.3 Hard Fork/Airdrop/Mapping Adjustment
The Binance Bluebird Index, which is based on blockchain-based assets, will be adjusted for blockchain-specific events affecting one or several constituents, such as a hard fork/airdrop/mapping, in accordance with these guidelines:
  • No adjustments are needed for soft forks or hard forks that do not generate new tokens;
  • For hard forks/airdrops that create a new token, the new token should be included in the Index with the same weighting as was given to the original token and excluded on the next regular rebalance if sample selection criteria** are not met; and
  • For airdrops/mappings that lead to a token being replaced by new tokens, especially for split/reverse split occasions, the existing token should be replaced by the new token(s) with the weight adjusted according to the split ratio.
*Disclaimer: The formulas detailed in this article are subject to change without further notice. Please refer to the English version of this FAQ for the most updated formulas. (Please note that the index calculation rule was last updated on 11.02.2022 at 4 pm UTC+8)
**Being amongst the top Bluebirds by market capitalization and listed on the Binance Spot Exchange.