Benchmark governance

Version 1.1, effective 2026-10-07. Voluntary, modelled on the IOSCO Principles for Financial Benchmarks. DNH20 has no regulatory registration and is not an investment product.

Benchmark statement

Purpose: describe the large-cap crypto market through a transparent, rules-based basket. Inputs: public market data (CoinPaprika primary; CoinGecko, OKX fallback), no submitted data. Appropriate for description, research and education; not a settlement reference for financial contracts.

Limitations: prices are aggregated by the provider, not computed from exchange trades; circulating supply as reported; the uncapped official index is BTC-heavy. Every published figure states its source and time.

Methodology consultations

CONS-2026-01 · Divisor and official daily fixing (methodology v1.1)

Opened 2026-10-07 · closes 2026-10-21 · earliest effective 2026-10-22, once the decision is recorded. The official index is unchanged until then.

Closed, decision pending

A draft decision has been prepared; not applied yet.

CONS-2026-02 · Primary price source: CoinGecko first (data source order)

Opened 2026-10-12 · closes 2026-10-26 · earliest effective 2026-10-27, once the decision is recorded. The official index is unchanged until then.

Closed, decision pending

A draft decision has been prepared; not applied yet.

Comments via Contact.

Decision log

  • 2026-10-18DNH RWA Stocks (research index of tokenized stocks) methodology v1.0 and list v1.0 recorded; calculation core only, not running and separate from DNH20.
  • 2026-10-12Open CONS-2026-02: primary price source CoinGecko → CoinPaprika → OKX (proposal; the live order is unchanged until a decision is recorded).
  • 2026-10-07CONS-2026-01 amended: the TWAP fixing is adopted only after 7 consecutive days with ≥ 5 prints in the window, otherwise the divisor is decided alone; the divisor series starts 2026-09-09 and earlier prints are not restated; fixing 1.1 seals the day's 20-coin book.
  • 2026-10-07IOSCO principle 3 set to Partly until the holdings disclosure is published; U3 shadow joins sources by canonical ID.
  • 2026-10-07Open CONS-2026-01; divisor series and sealed daily fixing published as shadow data.
  • 2026-10-07Corporate-event policy v1.0 adopted.
  • 2026-10-07Liquidity shadow (U4): 24h volume and venue listing recorded daily for 90 days; no rule applied.
  • 2026-10-07Governance v1.1: annual review, cessation and transition plan.
  • 2026-10-07Site release v2.0 (display only).
  • 2026-10-07DNH20 Capped 30/20 and family methodology v1.0 approved (90-day history gate).
  • 2026-10-07DNHCS 1.1; market intelligence contract 2.0.

Methodology changes

Material changes (formula, base, universe, eligibility, weights, caps, rebalance, data sources): proposal published at least 14 days ahead, new version number, recorded decision. Emergency changes (source shut down, manifestly wrong data): applied immediately, announced the same day, reviewed within 14 days.

Corrections

Live prints are not edited after publication. A stored daily print is corrected only for a calculation error, or provider data shown wrong by at least two other public sources, found within 7 days. Every correction is logged; nothing is silently overwritten.

No corrections recorded.

Data freshness and reliability: Data status

Questions, complaints, suspected errors: Contact

Versions in force

DNH20 official printbase 2025-01-01 = 1000, base cap 2.4T
Index family methodology1.0
DNHCS classification1.1
Market intelligence contract2.0
On-chain context1.0
Research record schemadnh20.research.v1
Research view1.0

IOSCO self-assessment 2026

Applies 12 · Partly 4 · Not yet 2 · N/A 1

  • 1Overall responsibility of the administratorApplies
  • 2Oversight of third partiesPartly
  • 3Conflicts of interest for administratorsPartly
  • 4Control frameworkPartly
  • 5Internal oversightNot yet
  • 6Design of the benchmarkApplies
  • 7Data sufficiencyPartly
  • 8Hierarchy of data inputsApplies
  • 9Transparency of benchmark determinationsApplies
  • 10Periodic reviewApplies
  • 11Content of the methodologyApplies
  • 12Changes to the methodologyApplies
  • 13TransitionApplies
  • 14Submitter code of conductN/A
  • 15Internal controls over data collectionApplies
  • 16Complaints proceduresApplies
  • 17AuditsNot yet
  • 18Audit trailApplies
  • 19Cooperation with regulatory authoritiesApplies