A digital currency that allows investing in the entire cryptocurrency market … Get to know it
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Answer A digital currency that allows investing in the entire cryptocurrency market … Get to know it
Many crypto investors bemoan when a cryptocurrency rockets and does not benefit from it and miss its opportunity.
Cryptex has thought of creating a decentralized stable digital currency that allows investment in the entire cryptocurrency market, and thus not to miss the opportunity to invest in cryptocurrencies through a digital currency called “TCAP” that tracks the price of the entire total market capitalization of the cryptocurrency market.
Meaning that the TCAP coin, which Cryptex plans to launch this fall, will represent the total value of the cryptocurrency market, which currently stands at $254 billion in a single token.
stated Mr. Joe Stico, CEO of Cryptex, says:
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The new token “TCAP” will derive its value from the top 2,850 coins listed on top exchanges, allowing traders to have exposure to the entire crypto sector without worrying about buying two or three thousand cryptocurrencies.
Decentralized ETF:
TCAP will not depend on any cryptocurrencies that Cryptex already owns, but will instead track the market in real time, ie:
If the entire crypto market cap reached $250 billion, the TCAP would be worth $25.
It can be said that “TCAP” is a decentralized ETF, or “trading fund” – a common investment tool in the traditional market that combines the shares of different companies into one share.
.Tweet embed We are honored to work with Tweet embed In building TCAP, the world’s first total token for the cryptocurrency market.
Hear from our team and discuss how we can make it happen with the world-renowned VC Tweet embed In the last episode of:
Cryptex Global Markets May 4, 2020
Steko said:
Our goal here is to create a finance family built entirely on the blockchain, not the Nasdaq.
Read:Ethereum is nearing $5,000 and transaction fees are skyrocketing
When the project is launched, the pricing data will come from the “platform.”nomics.comCryptex also has the ability to kick corrupt altcoins from its index.
Stico said that the project will become decentralized over time and will eventually rely on a decentralized pricing oracle for its price data.
Cryptex was founded in January 2018, led by Joe Stecco, a former investment manager in New York, as well as Joe recruiting an old friend, Tom Matzner, CEO of one of the pre-eminent beauty brands in New York, as well as bringing in “Cryptex.” Preston Van Loon is a former software engineer at Google who runs his own software company.
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The team hopes to raise $1.75 million from investors by the end of June.
He told Joe Steco that they would build TCAP regardless of anything else, without even needing investors’ money as they would get their money by applying transaction fees.
If TCAP goes well, Cryptex plans to launch a variety of different stablecoins, such as a stablecoin representing the top five coins.
Read also:
Cardano founder: We are thinking of launching a stablecoin to improve the demand for ADA coin
Why does Tether dominate the stablecoin market?
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