First Mover Americas: Meme Coin Indexes Are Here

Crypto exchange WOO X has introduced a set of index perpetual contracts linked to meme coins, the top 30 cryptocurrencies and layer-2 (L2) tokens in partnership with market maker Wintermute and index provider GMCI. WOO X closed a $9 million funding round in January with participation from Wintermute and Amber. The firm is offering traders GMCI’s MEME index, which includes top meme coins like SHIB, PEPE and DOGE, and an L2 index that monitors scaling tokens like MATIC, IMX and OP, the companies said. Indexes are widespread in traditional finance, allowing traders to monitor and – through linked products – gain exposure to a broad range of securities. The new products will soon be complimented by a copy-trading option, as well as on-chain U.S. Treasury bills, WOO X Chief Operating Officer Willy Chuang said.