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# New Contract Listing - FOOTBALL

Author: Alan W.

Dear Users,

Phemex will be listing the new contract trading pair FOOTBALL/USD at 10:00 UTC on September 7, 2022.

FOOTBALL — This is a Football Fan Token price index that tracks the market performance of certain football club Fan Tokens. The Index is calculated by a formula that uses the weighted averages of the real-time prices of the relevant Fan Tokens.

### Index Calculation

Index

The Football Fan Token Index is calculated by reference to the weighted average prices of the Fan Tokens that constitute the Index, e.g., SANTOS/USDT, PORTO/USDT, LAZIO/USDT, etc.

The Index formula is as follows:

This formula ensures a continuous change of Index constituents/weight and that the price of the Index is only affected by a change to the underlying constituents’ price.

Divisor

The divisor on the Index Base Date is:

And at each Report Time t:

Weight

The weight of each constituent of the Index is calculated by a weighting factor (the weight will remain unchanged between Index rebalances):

The weighting method for the Football Fan Token Index is market cap weighting with a weighting factor calculated as follows:

20% Cap of Weight

For constituents whose weight is < 20%:

• Define count_capped = count of constituents whose weight is capped at 20%
• Define sum_non_capped = sum of all market cap of constituents whose weight is < 20%
• Formula:

### Rebalances

The launch date of the FOOTBALL/USD contract is Sept. 7, 2022 at 10:00 UTC. The first rebalance date is 2022-09-08.

Regular Rebalances

The Index constituents and their weights will be automatically rebalanced every Thursday at 8:00 UTC to adapt to changes in the market and to reflect the respective fluctuation of each constituent’s Market Cap in the Index.

Special adjustments are deemed necessary when one or several constituents face drastic changes (e.g., delisting or no organic volume). Phemex will keep users informed of future Index adjustments.

Two kinds of special adjustments can occur:

• Exclusion of an existing constituent and recalculation of the weights (and Divisorst) for the remaining constituents;
• Exclusion of an existing constituent and replacement with a different Football Fan Token listed on spot market, where recalculation would also be needed, which will involve the index to be rebalanced