Approved Snapshot Vote: https://gov.indexed.finance/#/ndx.eth/proposal/QmdVmMefXUAUqU1xgfjeUie4o4Ud4cqFKwyABaQSBnQNG9

Discussion Thread: https://forum.indexed.finance/t/oracle-top-5-token-index-proposal/89

Summary

Create a new category for medium cap oracle tokens and deploy ORCL5 index with an initial price of 0.01 ETH.

Category Criteria

This category has the following criteria for inclusion:

1. The token is at least 30 days old.
2. No major vulnerabilities have been discovered in the token contract.
3. The token’s supply can not be arbitrarily inflated or deflated maliciously.
   • The control model should be considered if the supply can be modified through governance decisions.
4. The token does not have transfer fees or other non-standard balance updates.
5. The token meets the requirements of the ERC20 standard.
   • Boolean return values are not required.
6. The token has a fully diluted market cap of at least $40 million.
7. At least $500k worth of liquidity is held in the Uniswap market pair between the token and WETH.
8. The token is either a protocol or governance token for an Ethereum-based oracle project.

Terms

Fully Diluted Market Cap: Market price of one token in USD multiplied by the token’s total supply.

Protocol Token: A token used for some core aspect of a system, such as payment for services within a protocol or rewarding users maintaining a network.

Governance Token: A token used to vote on governance decisions for a project.

Oracle: A system used to provide information from off-chain or on-chain components, for use by on-chain smart contracts as feeds or information sources.

Index Naming Scheme

Indices deployed for this category should use the following naming scheme for the ERC20 name and symbol:

Symbol: ORCL + Index Size

Name: Oracle Top + Index Size + Tokens Index

Example

Index Size: 5

Symbol: ORCL

Name: Oracle Top 5 Tokens Index

Actions

1. Create a new category on MarketCapSqrtController with the metadata hash for the Oracle category criteria.
2. Add the following tokens to the category:
   • LINK, UMA, BAND, ORAI, API3, DIA, DOS, TRB
3. Order category tokens by fully diluted market cap.
4. Prepare an index pool for the new category with:
   • Index Size: 5
   • Name: Oracle Top 5 Tokens Index
   • Symbol: ORCL5
   • Initial ETH Value: 1