Cryptex Finance – Capture real-time Total Market Cap of Crypto with EPNS

The underlying price of Bitcoin is the biggest data metric for the crypto market but next to Bitcoin, Total Cryptocurrency Market Capitalization is the most widely used, quoted, and popular data metric around the globe.

Total Cryptocurrency Market Capitalization is referenced and identified every day in the investment community by millions of people as one of the most resourceful and key metrics measuring the increase or decrease in the crypto space.

Total Cryptocurrency Market Capitalization has no ability to be minted or means to be minted in real-time form but the Cryptex has successfully tokenized this key metric. Cryptex has also committed to providing industry participants nominalized exposure to the movements of the price of the entire crypto space or sector.

What is Cryptex?

Cryptex is an open-source financial solution for the Global Crypto Community that is focused on bringing in innovation with regard to financial solutions in the Crypto space. Cryptex has created a decentralized financial solution by creating Total Market Cap Token, TCAP, and many others.

The solutions provided by Cryptex through real-world data on the Ethereum Blockchain with accompanying collateralized backings used in the generation of tokens were not possible without a centralized custodian or manager.

With this ability, Cryptex can provide and create a framework for decentralized financial solutions that offer exposure to more than ETH, BTC, and other DeFi tokens in the crypto market.

To capture exposure to the Total Market Cap of all cryptocurrency projects real-world data is required from multiple sources. But the biggest obstacle in the world of decentralized financial products is capturing real-world data or accessing global data on a blockchain.

Chainlink, a protocol that allows Blockchain platforms to interact with external data in a safe and secure manner, aids Cryptex in aggregating multiple data points from external sources within the smart contract framework on Ethereum.

With the help of trust minimized oracle framework i.e., besides the function of delivering external data to Blockchains, oracles can also perform a new type of trust-minimized off-chain computation on behalf of smart contracts, referred to as ‘oracle computation’, Total Crypto Market Cap (TCAP) can minimize trust of Cryptex and it can eventually serve as a better trustless financial product.

What is Total Cryptocurrency Market Cap?

It is the world’s first Total Crypto Market Cap token. Total Cryptocurrency Market Cap is an ERC-20 compatible smart contract and it tokenizes real-time Total Market Capitalization from all tokens and cryptocurrencies listed on the largest crypto data providers.

Tokenization is one of the benefits brought in by Blockchain technology and tokenization means the process of converting a form of asset into a token that can be stored, recorded, or moved on a Blockchain. In simple words, the value of any object for example a painting or carbon credit can be converted into a token that can be moved or transferred and engineered on a Blockchain system.

Total Crypto Market Cap (TCAP) provides holders with real-time price updates and exposures to the total cryptocurrency market cap. It’s a new 200% fully backed, fully collateralized asset.

Total Crypto Market Cap (TCAP) is audited as well as is accurately representative of the entire cryptocurrency complex by total market capitalization.

The process of data aggregation when combined with Blockchain technology can bring to the market approx $2 trillion of raw market capitalization data through cross-collateralized, asset nominal tokenization.

The process of asset nominal tokenization starts with taking a data metric, such as Total Market Capitalization. A divisor of 10,000,000,000 is set to this metric. The new nominal token trades in the pattern of its underlying data metric it tracks.

Let’s take a numerical example to understand the TCAP calculation process.

For example, the total market cap is 250 million dollars. The divisor of 10,000,000,000 is added to the number like any other financial index would. The price example of the TCAP will be as follows:

c-cryptocurrency market cap

d-divisor

r-TCAP token price

So, r = c/d = $250,000,000,000/10,000,000,000 = $25.00

Through collateralization by an underlying asset like ETH or DAI TCAPs are minted. In return, the user now receives a newly minted asset nominalized token that moves in the real-time pattern of the underlying total market cap metric that is tracked by the TCAP Smart Contract.

The CTX token is the ERC-20 token in charge of the Governance of the Cryptex Protocol. The hodlers of the CTX tokens can propose changes for the protocol and vote on proposed changes.

The Governor Alpha is responsible for managing proposals and actions, it is called upon the CTX hodlers for voting and making proposals with actions that will be in line with the Timelock on successful voting for the proposed changes.

The protocol treasury handles the complete finances of the Protocol.

Vaults are created on the protocol to stake collateral for minting new TCAP tokens. The Vault handler is in control of managing the Vaults. Only one vault per address can be generated in a Vault Handler.

TCAP tokens are ERC-20 smart contracts that can be burned and minted only by the Vault Handler.

Liquidity providers on the SushiSwap protocol are handed CTX rewards through the reward handler, these rewards help in promoting liquidity of the TCAP token and aid in decentralizing CTX.

Collaboration between Cryptex and EPNS

EPNS helps users ease up from the paranoia caused by the constant checking of their devices for receiving updates. The Cryptex users on subscription to the Channel created for Cryptex on the EPNS protocol will be able to receive direct communication updates from Cryptex to their linked digital wallets.

Users will be able to receive updates about:

A. The governance process updates.

B. Proposed changes by fellow CTX hodlers.

C. Results of the voting process for proposed changes.

D. Updates about the ratio of Collateral against their minted TCAP tokens.

E. Rewards earned through liquidity provided on the SushiSwap Protocol.

F. Rewards are earned through Staking LP tokens and Minting TCAP tokens.

The benefits received by the users of Cryptex through the collab between Cryptex and EPNS are abundant. The collab will facilitate smooth and direct communication between the protocol and its users thus enabling the protocol to grow through the active engagement of its users. The user experience will be more smooth, frictionless, and efficient through this collab. The collab will strengthen both protocols and show promising growth by both of them playing a pivotal role.


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