Understanding Cryptex

Cryptex is focused on building innovative, open source financial products for the global Crypto community. Using Ethereum’s smart contract system, Cryptex is able to build decentralized financial instruments such as Total Market Cap Token and many others. With real world data on the Ethereum blockchain along with collateralized backings for generating tokens, these products were previously not possible without a centralized custodian or manager. Now, Cryptex is providing the framework for decentralized financial products that offer exposure to more than just BTC, ETH, and other DeFi tokens.

Capturing exposure to the Total Market Cap of all cryptocurrency projects requires real world data, from multiple sources, on Ethereum. In the world of decentralized financial products, accessing global data on the blockchain is one of the more difficult problems. Chainlink enables Cryptex to aggregate multiple data points from external sources within the smart contract framework on Ethereum. Using a trust minimized oracle framework allows TCAP to minimize trust of Cryptex and ultimately serve as a better trustless financial product.