Update: 25 August 2026
The NX8 wind-down is complete, but the window for holders to convert NX8 to USDC remains open.
NX8 no longer tracks its former index of leading Layer-1 assets. The oracle has been turned off, and the underlying assets have been redeemed. All outstanding NX8 is now held by the community and backed by USDC rather than the former index components.
NX8 issuer OpenDelta used that USDC to create a buy limit order on Manifest Trade at 83.803 USDC per NX8, the final oracle price on 24 August. The order contains enough USDC to purchase the remaining outstanding NX8 at that price. OpenDelta controls the wallet and limit order; they are not held or operated by Nansen.
The fixed price allows everyone who held NX8 on 24 August to convert at their acquisition price or better, before network and transaction fees.
NX8 remains transferable and tradable. The community is free to hold it, trade it, or provide liquidity on Orca or other onchain venues. However, NX8 no longer provides exposure to the Layer-1 index, receives yield from underlying assets, or earns NXP or Nansen Points bonuses. No further changes to the token’s mechanics are planned.
Swap NX8 for USDC here.
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We're winding down NX8, the tokenized Layer-1 index we launched with OpenDelta.
If you're a holder, nothing is lost - a fixed-price redemption route opens on 24 August, and this post covers everything you need to do.
Why wind-down NX8
NX8 was built to give exposure to major Layer-1 assets in a single token.
NX8 worked as designed, but an internal review made clear it no longer fits alongside our core priorities: trading and our agent products.
Instead of letting it run in the background, we’ve made the hard decision to wind it down on our own terms - with a clear timeline and a protected exit for every holder.
What to expect If you hold NX8:
Before 24 August:
NX8 can be sold on the open market today. Swap NX8 for USDC here. NX8 still tracks the index and the price follows the market
From 24 August:
A fixed-price USDC redemption route opens.
We'll update this post with the link when it's live. From Aug 24 onwards, there will be a fixed exchange rate available for any NX8 holder to convert to USDC.
What changes on 24 August
NX8 stops tracking its underlying index and is fully backed by USDC instead.
New minting closes.
NX8 stops earning NXP and Points’ bonuses.
FAQ
What price will I receive?
When swapping NX8 onchain through an aggregator, you should receive 83.803 USDC per NX8 or a better available price, before network and transaction fees.
Can I still trade NX8 on the open market?
Yes. NX8 remains transferable and tradable. Community members may continue trading it or providing liquidity through Orca or other onchain venues. Aggregators may route swaps through OpenDelta’s fixed-price order on Manifest Trade or through other liquidity when it offers a better price.
Is there a deadline to convert my NX8?
No. The conversion window remains open, and OpenDelta’s buy limit order is available for holders who want to convert NX8 to USDC.
What does NX8 represent now?
NX8 is now entirely community-held and backed by the USDC available through OpenDelta’s buy limit order. It no longer tracks the Layer-1 index or receives yield or support from underlying index assets. No further changes to its mechanics are planned.
What happens to my Nansen Points?
NX8 earns points bonuses through the week ending 23 August. After that, holding NX8 earns no points and NX8 trades no longer receive the bonus multiplier. Points already earned are unaffected.
Are there any OpenDelta token allocations or rewards tied to NX8?
No. There are no OpenDelta token allocations, rewards, or other benefits associated with NX8. This applies specifically to NX8 and does not affect other current or future Joint Venture Protocols.
Where can I get help?
For questions about trading or Points, contact support@nansen.ai. For questions about NX8 and the wind-down, contact info@opendelta.com.
