ClearDAO (CLH) token rising ahead of airdrop to celebrate ClearIndex

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ClearDAO (CLH) token rising ahead of airdrop to celebrate ClearIndex

 ClearDAO (CLH) token rising ahead of airdrop to celebrate ClearIndex
Image source: © Tartilastock | Megapixl.com

Highlights:

  • ClearDAO (CLH) is a community-driven protocol for creating custom derivative products.
  • CLH’s current market capitalization is US$1.11 million. 
  • It launched ClearIndex on June 30 to track the crypto and NFT market. 

The ClearDAO (CLH) token surged more than 37% on Thursday ahead of its “airdrop” event to celebrate the launch of ClearIndex, a platform to track crypto and NFT market, on June 30.

The token was priced at US$0.01018, up 37.57%, at 4:04 am ET. 

ClearDAO will organize the airdrop of the CLH tokens at 16:00 UTC on July 13. Each of the 50 selected participants will receive 1000 CLH tokens. 

On June 30, ClearIndex released the first batch of five NFT series for ClearDAO users and DeFi builders. The NFT series include CryptoPunks Index, BAYC Index, Clone X Index, NFT World Index, and Loot Index. Let us understand more about ClearIndex and ClearDAO.

What is ClearIndex?

Last year, ClearDAO introduced an index to track public chains like BTC, ETH, and DOT. The protocol has since been working on designing indices that can track the entire crypto market. 

ClearIndex is a step forward in this direction. The platform is intended to track the crypto and NFT market by indexing various assets. It has also laid out different criteria to create indices which investors can easily access to analyze crypto assets.

The platform has devised a value-weighting mechanism for index creation. It took historical prices of NFTs from Opensea smart contract and used them to obtain the intrinsic value. 

The values of all collectibles were then used to form the index level for the NFT series. ClearIndex, therefore, is a data interface used by index-based derivatives where DeFi users have wider investment choices. 

Image Source: ©Kalkine Media®; © Garis Studio via Canva.com

What is ClearDAO?

ClearDAO is a community-driven protocol for creating custom derivative products. Its leading product is a software development kit (SDK) for developers to customize derivative contracts.

The SDK contains templates and tools to create derivatives, including options, futures, swaps, notes, and a marketplace for trading these products. 

CLH token:

The CLH token is available for trading on the crypto exchange, such as KuCoin, Gate.io, ZT, LATOKEN, etc. Its current market capitalization is US$1.11 million, with a circulating supply of 109.4 CLH. The total supply of CLH is 525 million. 

In the backdrop of the ClearIndex launch and the upcoming reward event, the token’s 24 hours trading volume surged 1790.12% early Thursday morning.  

Bottom line:

The crypto market is going through a rough phase and has fallen around 58% YTD. It is not a regulated space, and investors must apply caution before investing in digital assets. 

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