About Cryptex (CTX)
Cryptex Finance is an Ethereum-based protocol that lets investors, traders, funds, and DeFi users get exposure to the total crypto market capitalization. Through smart-contract implementations, the protocol leverages over-collateralization schemes and blockchain oracles to create a synthetic asset called TCAP that tracks the market cap of cryptocurrencies and tokens listed on the largest crypto data providers in the world. Some of these data providers include Chainlink, Coinmarketcap, Nomics, Coin Paprika, and Coin Lore. CTX tokens can also be used to compensate for black swan events that may leave TCAP vaults under-collateralized.
CTX is an ERC-20 utility and governance token with various use cases within the Cryptex Finance ecosystem. CTX token holders can vote on upgrades and management of the Cryptex treasury, create proposals and vote on said proposals, such as continued incentives for product development and other solutions to advance the Cryptex decentralized autonomous organization (DAO).
Learn more about Cryptex Finance on Cryptopedia:
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