Coinstore contract index is a comprehensive index of spot price. It is calculated by weighted average of the latest spot transaction prices of several exchanges in the market (fire currency, currency security, okex, poloniex, etc.). Each contract has an index.
In order to represent the market consensus price of the underlying assets, we sampled data from the index component exchanges and obtained the latest prices of multiple exchanges through API. Then the weighted average is calculated to get the index price. Index prices are published every three seconds.
At present, the index weights are as follows:
1.Example of index price calculation
For example, at a certain time, the last price of BTC of the constituent exchange is:
These last prices are obtained by multiplying the weights:
Therefore, the price of BTC / USDT index is 9380.596 ≈ 9380.6(USDT) .
2.Index weight method
The index weight is calculated by directly connecting the trading volume data obtained from each of the above component exchanges using API. Use proprietary mechanisms to identify and remove malformed and abnormal data.
For the avoidance of misunderstanding, the platform does not assume any responsibility for the accuracy of any trading volume (or other) data received from any exchange for the calculation of the platform's index, and does not assume full responsibility for any claim loss related to the calculation and release of any such index.
3.Index protection rules
We use a variety of methods to maintain a reliable connection with the constituent exchanges to avoid poor market performance due to spot market price disruption or connection problems. The specific protection measures are as follows:
- The price of one specific exchange deviates significantly from that of other exchanges
If there are more than two effective exchanges in the index, when the BTC price of one exchange deviates significantly from that of other exchanges, the median deviation between the BTC price of one exchange and that of all sample exchanges (including the exchange itself) is up to 100% ± 3%, the exchange's price is directly removed. For example, if the current price of an exchange is 560, and the prices of the other two exchanges are 500 and 501 respectively, the current median price of all sample exchanges is 501. If the exchange deviates from the median price by (560-501) / 501 = 11.7% > 3%, the exchange price will be directly removed, and the index is (500 + 501) / 2 = 500.5. The price deviation ratio shall be configured by the platform according to the specific situation. If there is any adjustment, please refer to the relevant announcement.
If there are only two effective exchanges in the index (there are only two exchanges in the index, or due to the loss of market, some exchanges are temporarily eliminated). If the price deviation obtained by the two platforms is greater than 5%, the price of the one with smaller deviation from the last calculated index is considered normal, and the other has an own dragon index. At this time, the index price is temporarily anchored to the normal exchange. The price deviation ratio shall be configured by the platform according to the specific situation. If there is any adjustment, please refer to the relevant announcement.
If the index price is only based on the price of one exchange at a certain time (all other exchanges have been excluded). If the deviation between the price obtained and the index price obtained last time is more than 5%, it is considered that there is an Oolong index, and the index price is the price calculated last time. The price deviation ratio shall be configured by the platform according to the specific situation. If there is any adjustment, please refer to the relevant announcement.
- The market data of the exchange is lost
If a certain exchange fails to obtain the market data at a certain time point (the exchange is closed, the market is interrupted, attacked and other reasons), the weight of the exchange is temporarily 0, and the weight of the other two exchanges is allocated 100% according to their relative weight proportion. If neither of the two companies can obtain the market data, the weight of the two companies will be 0 temporarily, and the weight of the other company will be 100%. If the three companies can't get the index price of bitmex, they can get the index price of bitmex directly. If they can't get the index price of bitmex, they can process it manually.
- The price of specific exchange deviated greatly for a long time
When the price of an exchange deviates greatly from that of other exchanges for a long time, we will assume that the price of the exchange may lose its guiding significance, and the sample and weight of the index will be adjusted. The specific adjustment scheme is subject to the announcement of Coinstore.
When these abnormal conditions occur, the alarm will be given immediately to inform manual handling. Confirm whether the system or market is normal.