S&P Dow Jones Indices and Pantera Capital have introduced a new digital asset index focused on tracking blockchain networks and protocols based on protocol revenue. This approach marks a shift from traditional crypto benchmarks that rely on market capitalization or token prices. The index is derived from the S&P Cryptocurrency Broad Digital Asset Index and screens assets for minimum levels of protocol revenue, market capitalization, and liquidity. Once assets meet these requirements, eligible networks are ranked by their total protocol revenue over the previous two quarters. The final composition is then weighted by adjusted market capitalization, with a maximum allocation of 35% for the largest holding and up to 20% for most other constituents. The index undergoes quarterly rebalancing.