How is TCAP pegged to the price of total crypto market cap?
TCAP uses Chainlink oracles which enables Cryptex to aggregate multiple data points from seven of the top crypto data providers in the world and brings that data on chain using Ethereum smart contract. Using a trust minimized oracle framework allows TCAP to minimize trust of Cryptex and ultimately enables us to create better trustless financial products.
What is TCAP backed by?
Each TCAP is collateralized by more than 200% corresponding amount of ETH or DAI.
TCAP includes EVERY coin and token?
TCAP includes every coin and token supported by the following 9 oracles and 5 data providers https://data.chain.link/mcap-usd
Is TCAP decentralized?
TCAP uses Guardian Keys to pause deposits and minting in case of a bug to protect users, the rest of the protocol is managed by a timelock contract controled by CTX governance token. We expect to further decentralize TCAP as time goes on and burn the Guardian Keys.
Is TCAP live yet?
TCAP is live! You can use TCAP by visiting app.cryptex.finance. We recommend you give our testnet a spin first to get familiar with the protocol by visiting https://medium.com/cryptexfinance/how-to-use-tcap-on-testnet-a0cef1c1f19c
Who is TCAP for?
TCAP is for users that want to speculate in the total crypto currency market by buying a token that it’s the representation of the market. It’s also for DeFi users that want to earn fees by minting TCAP tokens and adding liquidity on decentralized exchanges or taking advantage of arbitrage opportunities.