Updates and Enhancements to the CM Reference Rates

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Today, Coin Metrics is happy to announce a series of periodic updates and enhancements to our CM Reference Rates products. These updates help to ensure that the CM Reference Rates maintain the highest quality and reliability.

The release of CM Real-Time Reference Rates Version 0.2 (Beta 2.1) and CM Hourly Reference Rates Version 2.2 jointly include the following changes. Please note that the recalculations mentioned below have a cross impact on the upcoming CM Network Data Pro product releases which will be deployed shortly. 

Periodic Market Selection Updates

As outlined in the methodology documents, Coin Metrics regularly reviews the constituent markets for all assets included in the coverage universe under the CM Market Selection Framework. 

Consistent with this review, Coin Metrics has updated the constituent markets for a number of assets. 

Coverage Universe Updates

As part of the periodic review, Coin Metrics investigated the liquidity of several assets. In some cases, Coin Metrics determined that the liquidity in the underlying markets had declined to the extent that the constituent markets no longer function as active markets. Accordingly, Coin Metrics terminated publication of Reference Rates and Real-Time Reference Rates for a number of assets

Additionally, Coin Metrics made the following adjustments in order to accommodate Maker Protocol’s upgrade from Single-Collateral Dai (Sai) to Multi-Collateral Dai (Dai):

  • The legacy Dai (dai) asset has been renamed Sai (sai) which tracks Single-Collateral Dai. 
  • A new asset called Dai (dai) has been created to track Multi-Collateral Dai on an ongoing basis. 

Please note that these asset adjustments and associated trades and candles recalculations are reflected in the CM Market Data Feed offering.

Please reach out to Coin Metrics ([email protected]) for more information on CM Reference Rates.

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