Nansen and OpenDelta Launch Solana-Based Tokenized Index Tracking Top Layer-1 Blockchains

Nansen, a blockchain analytics firm, has launched NX8, a tokenized index product that tracks eight major Layer-1 blockchains. The index includes Bitcoin, Ethereum, Solana, BNB Chain, TRON, Hyperliquid, Avalanche, and Sui according to Cryptobriefing. The product is developed in partnership with OpenDelta and is issued on Solana using LayerZero’s Omnichain Fungible Token standard as reported.

The index is intended to provide investors with diversified exposure to the Layer-1 blockchains that are driving innovation and adoption in the crypto space. Nansen highlights the inclusion of chains that have demonstrated resilience across multiple market cycles and have become central to onchain activity according to their analysis.

NX8 is designed to offer a more balanced and comprehensive view of the crypto market than Bitcoin alone. The product captures the growing diversity of value creation across different blockchain use cases, from DeFi to tokenized real-world assets as noted.

Why Did This Happen?

The launch of NX8 reflects a broader trend of institutional and retail interest in onchain financial products. Nansen and OpenDelta aim to meet demand for exposure to a diversified basket of leading blockchains according to their strategy.

The product is backed by GMCI methodology, which ensures transparent and rules-based index construction. Nansen’s analytics, based on over 500 million labeled addresses, inform the index’s composition and rebalancing as detailed.

NX8 is the first product under Nansen’s Joint Venture Protocol, signaling a strategic shift toward building tokenized financial infrastructure. This initiative is part of Nansen’s broader expansion into onchain-native products according to their roadmap.

How Did Markets React?

The product is already available for trading on Solana-based platforms like Orca, Jupiter, Kamino Swap, and Dflow. This immediate accessibility supports real-time trading and participation in the DeFi ecosystem as reported.

Custody of the underlying assets is managed by regulated firms such as Anchorage and Hex Trust. Real-time verification of the index’s assets is enabled by Accountable, ensuring transparency for investors according to their verification process.

Investors can earn yield by staking the underlying assets, which are delegated to Nansen-operated validator infrastructure. The staking rewards vary by network but are derived from native staking protocols as explained.

What Are Analysts Watching Next?

Analysts are watching whether NX8 will gain traction among both retail and institutional investors. The product’s zero AUM fees and onchain composability could make it an attractive option for those looking to diversify their crypto holdings according to analyst reports.

The index also serves as a benchmark for evaluating the performance of major Layer-1s. It is rebalanced quarterly and reviewed every six months to reflect shifts in market structure as documented.

Nansen and OpenDelta are likely to continue expanding the index’s ecosystem. The partnership with LayerZero supports cross-chain compatibility, which could attract further integration into DeFi protocols and trading platforms according to their partnership goals.

The launch of NX8 marks a significant step for Nansen as it moves beyond analytics into the development of tradable, onchain-native financial products. This aligns with the growing trend of institutional participation in onchain finance according to industry analysis.