GMCI's MEME index features popular meme coins such as SHIB, PEPE, and DOGE, while the L2 index tracks prominent blockchain scaling tokens like MATIC, IMX, and OP. In a partnership with market maker Wintermute and indices provider GMCI, crypto exchange WOO X has launched a series of index perpetual contracts linked to meme coins, the top 30 cryptocurrencies, and layer 2 tokens.

Earlier this year, WOO X secured a $9 million funding round with Wintermute and Amber's support. Traders can now access GMCI's MEME index through WOO X, which includes leading meme coins, while the L2 index focuses on scaling tokens. Traditional finance has popularized indices products like the ones offered by the Chicago Mercantile Exchange, S&P Futures, or Nasdaq Futures, giving traders exposure to the entire market.

WOO X's chief operating officer Willy Chuang mentioned plans to introduce copy trading and on-chain U.S. Treasury Bills alongside the new index products. According to Chuang, the cryptocurrency market has evolved through various sectors, making it challenging for retail traders to keep up with winning tokens. By investing based on different sectors, traders can reduce the risk of exposure to single assets during volatile conditions.

The index products by WOO X will empower both retail and sophisticated investors to create more intricate trading strategies, as stated by Wintermute's founder and CEO, Evgeny Gaevoy.