Nansen and OpenDelta Tap Solana for New Index Tracking Top Layer-1 Blockchains

What Happened

Crypto data firm Nansen and on-chain issuer OpenDelta are collaborating to bring a new index product to Solana that tracks the top Layer-1 blockchains. The product, called OG30, is a Solana-native SPL token that gives holders exposure to the 30 largest cryptocurrencies by market capitalization without requiring wrapped or synthetic token versions.

The announcement, reported by The Block, highlights a growing trend in crypto: the push toward passive, diversified investment vehicles that live entirely on-chain. Unlike traditional crypto index funds that rely on custodial accounts or synthetic exposure, OG30 holds the actual underlying assets on their native chains through licensed, third-party custodians.

OpenDelta partners with GMCI, a crypto index provider, to benchmark the product against institutional-quality methodology. The index rebalances monthly and is designed to represent what OpenDelta calls "the market's core strength and the primary drivers" of the crypto ecosystem.

Why People Care

The crypto industry has long lacked a simple way for users to get broad market exposure without managing dozens of individual token positions. Traditional finance solved this decades ago with ETFs and index funds, but crypto has lagged behind due to cross-chain complexity, bridging risks, and regulatory uncertainty.

OG30 addresses several of these pain points simultaneously. By issuing on Solana as an SPL token, the index is composable across Solana's DeFi ecosystem. Users can hold it, stake it, or potentially use it as collateral in lending protocols. The native token approach eliminates the risks associated with wrapped assets, where a bridge failure or exploit could sever the link between the wrapped token and the underlying asset.

Nansen's involvement adds a data credibility layer. The analytics firm has labeled over 500 million blockchain addresses and tracks on-chain activity across major ecosystems. Their participation signals that the index composition will be informed by real market dynamics rather than simple market cap rankings alone.

What Actually Broke

Nothing broke in the traditional sense. This is a new product launch, not a failure or exploit. However, the launch does expose a gap in the current crypto landscape: there are very few ways to get passive, diversified exposure to the top Layer-1 blockchains without relying on centralized custodians, wrapped tokens, or off-chain fund structures.

OG30's approach of holding native tokens through licensed custodians is a hybrid model. It is not fully decentralized, as the rebalancing is centralized and custody relies on third-party providers. But it avoids the synthetic risk that has plagued other index products. The trade-off is custody counterparty risk versus bridge and wrapper risk.

The product currently has approximately $2.45 million in total value locked, indicating it is still in its early stages. OpenDelta itself is a pre-seed company backed by Six Man Ventures and Solana co-founder Anatoly Yakovenko, among others.

What This Means for Your Money

For retail investors, OG30 represents a potential new way to gain diversified crypto exposure with a single token purchase. Instead of researching, buying, and rebalancing 30 individual tokens across multiple chains, a user can hold one SPL token on Solana that tracks the broader market.

The staking mechanics add another layer. OG30 tokens can be staked through OpenDelta's staking contract, with rewards coming from three sources: Beta Points, staking rewards, and treasury incentives. Income generated from staking and lending is used to mint additional OG30 tokens and transfer them into the staking contract, creating a compounding effect for stakers.

The monthly rebalancing schedule means the index composition shifts to reflect market changes. This is standard for traditional index products but worth noting for crypto users who may expect real-time adjustments.

Fees are a consideration for any index product. While specific fee details are documented in OpenDelta's fee structure, users should factor in management fees, minting/redemption costs, and any gas fees on Solana (though Solana's transaction costs remain extremely low).

What This Means for Crypto Users

The broader significance here is that Solana's ecosystem is maturing beyond memecoins and trading activity into structured financial products. In the first 30 days of 2026, Solana saw active addresses double to over 5 million, daily transactions jump to 87 million, and daily fee revenue hit $1.1 million. Products like OG30 represent the next phase: institutional-grade financial infrastructure built on Solana's high-throughput chain.

For crypto card users and wallet holders on Solana, composable index tokens could eventually integrate with spending products. Imagine holding OG30 in a Solana-connected wallet and using it as collateral for a crypto card, giving you broad market exposure while still having spending liquidity. That is not available today, but the composability of SPL tokens on Solana makes it a realistic future development.

The Nansen partnership also matters for everyday users. Nansen's AI-powered trading tools, which launched on Solana and Base in early 2026, provide analytics that were previously only available to institutional investors. As Nansen integrates more deeply with products like OG30, retail users gain access to the same data that informs the index composition.

FAQ

What tokens are included in OG30? OG30 tracks the top 30 cryptocurrencies by market capitalization, based on the GMCI 30 index methodology. This includes major assets like Bitcoin, Ethereum, and Solana, along with leading DeFi tokens and smart contract platform tokens. The exact composition is published on OpenDelta's documentation and rebalances monthly.

How do I buy OG30? OG30 is an SPL token on Solana. You can access it through OpenDelta's app at app.opendelta.com. You will need a Solana-compatible wallet like Phantom or Solflare.

Is OG30 decentralized? It is a hybrid model. The token itself is an on-chain SPL token, and the underlying assets are native (not wrapped). However, custody is handled by licensed third-party providers, and rebalancing is centralized. This is similar to how traditional ETFs operate.

What are the risks? Key risks include custody counterparty risk (reliance on third-party custodians), early-stage product risk ($2.45M TVL), centralized rebalancing, and smart contract risk on Solana. This is a pre-seed company, so position sizing should reflect the early stage.

Can I stake OG30? Yes. OG30 can be staked through OpenDelta's staking contract for rewards including Beta Points, staking rewards, and treasury incentives.

Overview

Nansen and OpenDelta are bringing a new passive investment product to Solana with OG30, a tokenized index tracking the top 30 cryptocurrencies using native tokens held by licensed custodians. The product eliminates wrapping and bridging risks while offering staking yield and full DeFi composability on Solana. With approximately $2.45M in TVL, it is still early stage, but the combination of Nansen's data infrastructure and OpenDelta's on-chain issuance could set the template for how crypto index products evolve. Investors should evaluate the trade-offs between the hybrid custody model and the benefits of native token exposure before allocating capital.