5th July 2024
Results of the IX Digital AssetIndustry Classification System (“DAICS®”) 2024 1H Review

Today, IX Asia Indexes announced the 1st Half 2024 Review of the IX Digital Asset Industry
Classification System (“DAICS ®”), aiming to provide the professionals worldwide with atransparent and standardized classification scheme to determine sector and exposure of particular
digital assets. DAICS® classifies digital assets into 2 main categories: a) Cryptocurrencies and b)
Asset Backed Tokens and a 3-tier system for each category. For Cryptocurrencies: 1-Industry/ 2Sector/ 3-Sub-sector; for Asset Backed Tokens: 1-Asset Type/ 2-Branch/ 3-Sub-branch(Appendix 1). The results are as follows:a) Cryptocurrenciesi) Structure and definitions
Tier 1: Industry Changes
The industry groups remain unchanged with 5 industries.
1) Payment (110)2) Infrastructure (120)3) Financial services (130),4) Tech & Data (140) and5) Media & Entertainment (150).

Tier 2: Sector Changes
The number of sectors remain unchanged with 16 sectors. There is modification in Sectorname under Media & Entertainment (150)/ Social Media & Community Sector. The
definition of Social Community sector remains unchanged.

Modification in sector name.
BeforeAfter

Social Media (15010)

Social Media & Community (15010)
1ii) Classification Changes
VeChain (VET)
BeforeAfter

Industry: Tech & Data (140)

Industry: Infrastructure (120)

Sector: Storage & Sharing (14010)

Sector: Application Development Protocol &Smart Contract (12010)iii) Green coins label
There are 9 Greens coins in this review:
Infrastructure (120)Energy Efficient
Consensus Mechanism(PoS, PoH, PoA,DAG, Hashgraph)

Renewable Energy Use

Media&Entertainment (150)

1. ETHG
2. ATOMG (New)
3. NEAR G
4. DOTG (New)
5. ADA G
6. HBAR G

1. IMXG

1. SOLG (New)
2. VETG (New)

NILiv) Coverage of DAICS®
DAICS® coin coverage: top 50 coins by market capitalization
DAICS® market capitalization coverage: 87.493%*
The % coverage of market capitalization of the 50th ranked coin: 0.092%
Member changes within the TOP 50 coins in DAICS ® : 6 coins in and 7 coins out(For more details about the industry weighting and the 6 changes, please see Appendix 4).

*As of 22nd May 2024, based on past 90 days market capitalization ranking including all coins* (exclude stable coins andpure DAO governance tokens)Note: G as ‘Green’ labelling for cryptocurrencies that adhere to the principles of sustainability* * (For details on Industry & Sector definitions under DAICS ®, please refer to Appendix 2 & 3)2b) Asset Backed Tokens (ABT)i) Structure and definitions
Tier 1: Asset Types Changes
The asset types remain unchanged at 6
1) Culture (205),
2) Real Estate (215),
3) Financials (235),
4) Entertainment (255),
5) Natural Resources (265), and
6) Green Economy (275)Tier 2: Branch Changes
The branches remain unchanged at 31.
(For details on Asset types and Branches, please refer to Appendix 3).

ii) Classification Changes
Niliii) Coverage of DAICS®
IX Asia Indexes has not started to classify any ABT. ABTs will be added to DAICS®
in the next stage when a fair amount of popular asset-backed tokens are available in themarket. A new ABT registry will be made available to the public. Although there has
been an increase in the number of ABTs, ABTs only comprised 0.106% of the total
market capitalization of digital assets. A classification summary and definition table
are available at Appendix 5 & 6.
For further information regarding the methodology of the DAICS ®, please refer to the “IX Digital
Asset Industry Classification System”- principle and guiding methodology on the company
website https://ix-index.com/daics.html.
All classification changes including the ixCrypto Infrastructure Index and ixCrypto Stablecoinindex will take effect on 19th July, 2024.
For more details on our DAICS ® qualification criteria, please email daics@ix-index.com.
~END~
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For further enquiries, please contact:

Irene WONG

+852 3595 3631
irene.wong@ix-index.com

Hayden PUN+852 3595 3638
hayden.pun@ix-index.com

About DAICS ®
DAICS ® covers both cryptocurrencies and asset-backed tokens (“ABT”), to be reviewed semi-annually atthe end of June and December. On cryptocurrencies side, it is a three-tier system that groups
cryptocurrencies into 5 main industries: 1) Payment, 2) Inf rastruct ure, 3) Financial services, 4) Technology& Data and 5) Media & Entertainment. These industries are f urther divided into 16 sectors and sub -sectors
to be introduced in the f uture. Under asset-backed tokens, there are 6 asset types: 1) Culture, 2) RealEstate, 3) Financials, 4) Entertainment, 5) Natural Resources, 6) Green Economy. These asset types are
f urther divided into 31 branches and sub -branches to be introduced in the f uture.

About IX Asia Tokenization Advisory Committee and Working GroupThe establishment of the IX Asia Tokenization Advisory Committee ("Advisory Committee”) is to pursue
the goal and vision to f ormulate a standard f or global tokenization f ramework in a compliant andtransparent way. The key role of the Advisory Committee is to f ormulate the guideline and ref erenc e f ortokenization in terms of inf rastructure, business f inancial stability, sustainability, internal control andclassif ication. The Advisory Committee is comprised of industry recognised leaders f rom blockchain
consultancy, sustainable projects and f ield in Art industry.

The establishment of the Working Group is to identif y, evaluate and recommend key directions andf ounding principles according to their specif ic industry knowledge and expertise in relating to the creationof the specif ied token. It will examine and propos e improvements to the guidelines and ref erences f ortokenization. The working group is f ormed of a diverse group of market experts representing relevant
sectors and markets, to provide input and discuss case studies f or creation of tokenization f ramework,
best practices and development of real-world projects.

For more inf ormation about IX Asia Tokenization Advisory Committee & Working Group, please visit
https://ix-index.com/tokenization-committee.html .

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Appendix 1

The structure of DAICS®

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Appendix 2
IX Digital Asset Industry Classification System (“DAICS®”)

Digital Assets

Asset backed tokens (“ABT”)

Cryptocurrencies

PaymentInfrastructure

Tech & Data

Note:

FinancialServices

Media &EntertainmentCulture

Real Estate

Financials

Entertainment

NaturalResources

Green
EconomyIndustries/Asset Types with Sector/Branch change.

6Appendix 3

DAICS® Updated Cryptocurrencies Industry-Sector diagram

DAICS® current ABT Asset Types diagram

Note:

Industries/Asset Types with Sector/Branch change.

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Appendix 4
In and out in DAICS ® Top 50 cryptos
InOut

1.

Bittensor (TAO)

TrueUSD (TUSD)

2.

First Digital USD (FDUSD)

Binance USD (BUSD)

3.

Pepe (PEPE)

Aave (AAVE)

4.

dogwifhat (WIF)

Algorand (ALGOG)

5.

Theta Network (THETA)

Quant (QNT)

6.

Arweave (AR)MultiversX (EGLD)

7.

-

Wrapped Bitcoin* (WBTC)

Sector Weighting of the Classification System**Industry
Payment
Infrastructure
Financial Services
Tech & DataMedia & Entertainment

Weighting (%)
65.55
27.10
4.45
0.73
2.17

*Special Currency Treatment of DAICS ® applies**Based on 22nd May 2024
G: Green Label

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Appendix 5Classification of top 50 coins by Market Capitalization
Category
Cryptocurrencies

Industry
Payment:

SectorTransaction & Payment

Blockchain based money,
designed f or transactional
purposes. This includes
daily transactions usage
and stablecoins.

Stablecoin

Cryptocurrencies
BTC
XLM
XRP
XMR
BCHCROLTC
KAS
USDT
FDUSD
USDC
DAI

Application
Development Protocol& Smart Contract

ETHG
SOLG
ADAG
TON
AVAX
TRX
NEARG

ICP
APT
ETC
HBARG
VETG
INJ

Interoperability

DOTG
LINK

ATOMG

Scaling & Sharding

MATIC
MNTOP
Nil

ARB
STX

UNI
RUNE

Lending & Borrowing

BNB
LEO
OKB
Nil

Staking

LDO

Tech & Data:

Storage & Sharing

Provision of data
management and storage,
and development ofinnovative crypto
technology
Media & Entertainment:

Data Management

FIL
AR
GRT

Artif icial Intelligence

TAO

Inf rastructure:
Bedrock blockchain thatf acilitates the operation ofother decentralisedapplications. This includes
the creation and runningof dedicated blockchain
platf orms, achieving
interoperability between
networks, increasing theamount or speed oftransactions etc

Supporting System
Financial services:
Tokens that provide onchain asset management
services, crypto-exchange
services, f unding, lending
and other capital markets
related services

Exchange Tokens

SocialMedia
Community**
Streaming&DOGE
WIF
THETA

RND

SHIB
PEPE

Recreational and media
services. Including
Gaming
IMX G
content creation anddistribution, advertising
Metaverse
NIL
through crypto-asset
incentive mechanisms,
gaming and collectibles
Note: G as ‘Green’ labelling f or cryptocurrencies that adhere to the principles of sustainability(**) labelling f or change in sector name in this review

9Appendix 6
IX Digital Asset Industry and Sector Classification System (“DAICS®”)
Category

Industry

SectorCryptocurrencies(1)

Payment: (110)Transaction &Payment(11010)

Cryptocurrencies that are used
f or store of value, unit ofaccount, medium of exchange

Stablecoin(11020)

Cryptocurrencies where price ispegged to a / a basket ofref erence asset

Application
Development
Protocol & SmartContract(12010)layer-1 blockchain network thatf acilitates DApp creation andsmart contract execution andsmart contract

Interoperability(12020)

Network that increases interconnectivity and integration of
the f ragmented cryptocurrency
ecosystem

Scaling &Sharding(12030)

Networks that increase theability to cope with the inf lux ofmany transactions at a time andblockchain network that can besplit into smaller partitions, toimprove scalability and processtransactions quicker

SupportingSystem(12040)

Networks/sidechainsthat
improve f unctionality of layer-1
network

Exchange Tokens(13010)

Cryptocurrencies
that
represent the stable coin in theexchange ecosystem and allow
users to covert f rom digitalasset on decentralised or
centralised system int f iat
currencies

Lending &Borrowing(13020)Borrowing and lending crypto
assets with interest in returnand other secondary f inancial
tools derived f rom primary
underlying asset, such as
crypto f utures and options

Staking(13030)Holding and “staking” of certain
amount of cryptocurrency in awallet to f acilitate network
operations

Definition
Blockchain based money,
designed f or transactional
purposes. This includes
daily transactions usageand stablecoins.
Inf rastructure: (120)
Definition
Bedrock blockchain thatf acilitates the operation ofother decentralised
applications. This includes
the creation and runningof dedicated blockchain
platf orms, achieving
interoperability between
networks, increasing theamount or speed oftransactions etc.

Financial services: (130)Definition
Tokens that provide onchain asset management
services, crypto-exchange
services, f unding, lending,and other capital markets
related services

10

Sector def inition

Tech & Data: (140)Definition
Provision of data
management and storage,and development ofinnovative crypto
technology

Media & Entertainment:(150)Definition
Recreational and mediaservices. Including
content creation anddistribution, advertisingthrough crypto-asset
incentive mechanisms,
gaming and collectibles

Storage & Sharing(14010)

Crypto protocols that provide
decentralized storage and/or
sharing of data f iling andresources.

Data Management(14020)

Networks/Protocols
thatf acilitate the indexing andqueryingofdata
f rom
blockchain(s), enabling ef f icient
data retrieval and management
f or decentralized applications

Artif icial
Intelligence(14030)

Cryptos/Protocols that f acilitate
the use of AI powered apps or
projects
directlyusing
blockchain platf orm.

Social Media
Community*(15010)&

Cryptos that provides mastsocial community and f ollowers
without a close secondary
industry sector

Streaming(15020)

Cryptos that provides rights toaccess decentralised videostreaming sites

Gaming(15030)

Cryptos which mainly used ingaming or gaming supporting
industry

Metaverse(15040)

Cryptos that is commonly usedin collective virtual open space,created by the convergence ofvirtually enhanced physical anddigital reality. This includes theuse of VR and/or AR and/or 3D.

11DAICS® Asset Type Definitions
Category
Asset-BackedTokens (2)Asset Type
Culture: (205)

BranchArt(20510)

Definition
Real asset relating to sports, art,
cultural drama, f estive
collectibles and design IPs etc.

Sub -branchSports(20520)
Festive Collectibles(20530)Design IPs(20540)
Drama and Play IPs(20550)Real Estate:(215)Commercial Property(21510)

Def inition
Assets that mainly derived its
valuation f rom property, realestate, and land

Residential Property(21520)This shall be f urther
developed in the f uturewith more digitalassets available in themarket

Governmental Property(21530)Residential andCommercial Land(21540)Financials: (235)Definition
Real f inancial asset including
listed company shareholdings
on regulated centralised
exchanges and private company
shareholdings; debt instruments;
property trusts and derivatives
that settled on regulated
exchange (CeFi and DeFi).
Entertainment: (255)
Definition
Ownership of the IPs assets inthe area of entertainment in realworld such as concert, play,shows, circus, musicals, songs,movies, games, events andprograms, and souvenir
collectibles that is derived f rom
the above areas.

Tokenised Securities(Company Securities, ETF)
(23510)Tokenised Debts(23520)Tokenised REITs(23530)Movies(25510)
Songs(25520)
Concerts(25530)Gaming(25540)
All Other Entertainment
Events and Collectibles(25550)Precious Metals

12This shall be f urther
developed in the f uturewith more digitalassets available in themarket

Natural Resources: (265)(26510)Definition

Agricultural(26520)

Natural resources asset thatderived directly f rom sea, sky,
atmosphere and undergroundand can be classif ied as acommodity with standardisationsuch as precious metals,
agricultural, energy and metals.

Energy(26530)
Metals(26540)No Poverty & Zero Hunger(27510)

Green Economy (275)Definition
Ownership of Projects Asset thatf alls under the def inition of theUN 17SDG²s, with over 80% of
the income or jobs provided onthese 17 initiatives.

Good Health and WellBeing(27520)Quality Education(27530)

Following def inition ofthe United Nations
17 sustainable
development goals²

Gender Equality(27540)Clean Water andSanitation/Af f ordable andClean Energy(27550)Decent Work andEconomic Growth/
Industry, Innovation, andInf rastructure/ Partnerships
f or the Goals(27560)
Reduced inequalities/
Peace, Justice and StrongInstitutions(27570)
Sustainable Cities andCommunities/ResponsibleConsumption andProduction(27580)
Climate Action(27590)Lif e Below Water & Lif e onLand(27500)²United Nations 17 sustainable development goals covering 1) No Poverty 2) Zero Hunger 3) Good Health and Well-Being 4) Quality
Education 5) Gender Equality 6) Clean Water and Sanitation 7) Affordable And Clean Energy 8) Decent Work and Economic Growth 9)
Industry, Innovation and Infrastructure 10) Reduced inequalities 11) Sustai nable Cities and Communities 12) Responsible Consumptionand Production 13) Climate Action 14) Life Below Water 15) Life on Land 16) Peace, Justice and Strong Institutions and 17) Partnerships
for the Goals https://sdgs.un.org/goals13