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Cryptex Finance (CTX), Total Crypto Market Cap (TCAP) Trading now supported by Gemini

Digital asset company Twins notes that it is pleased to announce support for Cryptex Finance (CTX) and Total Crypto Market Cap (TCAP).

CTX is currently available for trading and custody on Gemini starting July 13, 2021. Trading for CTX is available via the crypto exchange’s FIX / REST APIs and their ActiveTrader application for USD trading pairs, as well as via their mobile app and official website “for USD, GBP, EUR, CAD, AUD, HKD and SGD pairs. “

The company confirmed that TCAP “remains available for deposit and safekeeping”.

As noted by Gemini:

“With the addition of CTX and TCAP, we are now offering trading for more than 45 cryptos, with a further 14 cryptos available for safekeeping. We pride ourselves on being the world’s first regulated platform to offer trading and custody support for CTX. “

Gemini’s announcement also mentioned that the addition of CTX and TCAP further strengthens their existing support for Decentralized Financial (DeFi) applications, offering users a wide range of options to “immerse themselves in the world of cryptocurrencies”. Gemini added that they look forward to supporting new crypto tokens and initiatives as they continue their mission of “empowering you, the individual, through crypto.”

Here is a quick recap of these new tokens shared by the Gemini team:

CTX Cryptex Finance (CTX) is an ERC-20 utility and governance token “with various use cases within the Cryptex protocol”. CTX token holders can “vote on upgrades and the administration of the Cryptex Treasury Department, as well as make proposals and vote on these proposals, such as:

Cryptex Finance is an Ethereum-based protocol that “enables investors, traders, funds and DeFi users to know the full crypto market capitalization”. Through smart contract implementations, “the protocol leverages over-security systems and blockchain oracles to create a synthetic asset called TCAP that tracks the market capitalization of cryptocurrencies and tokens listed with the largest cryptocurrency providers in the world.”

Some of these data providers “include Chainlink, Coinmarketcap, Nomics, Coin peppers, and Coinage. CTX tokens can also be used to compensate for Black Swan events that can result in TCAP vaults being undercollateralised. “

TCAP total crypto market capitalization is a synthetic ERC-20 token “created by Cryptex Finance”. The TCAP tokenization process “begins by querying the median total market capitalization value of oracles and dividing by 10 billion”.

For example, if the total market capitalization of the crypto market is $ 2 trillion, “the unit price of TCAP is $ 200”. Cryptex Finance is an Ethereum-based protocol that “enables investors, traders, funds and DeFi users to know the full crypto market capitalization”.

Through smart contract implementations, “the protocol uses security systems and blockchain oracles to create TCAP that tracks the market capitalization of cryptocurrencies and tokens listed with the world’s largest cryptocurrency providers”.

Some of these data providers “include Chainlink, Coinmarketcap, Nomics, Coin Paprika and Coin Lore”. The sole purpose of this token is to “mimic the performance of the entire crypto market cap”. TCAP owners “cannot master the Cryptex protocol; this role is taken over by Cryptex’s native token CTX. “

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