Introducing Cryptex Tower

Built by Cryptex, powered by Chainlink, audited by Quantstamp. Custody by Gemini.

Today, we announce the launch of Cryptex Tower, the next phase in the World’s First Total Crypto Market Cap Token, TCAP. Cryptex Tower aims to make TCAP more capital efficient, available to financial institutions for the first time, and have a more robust vault system.

TCAP is an ERC-20 token that acts as an index fund for all cryptocurrencies, by tracking the total crypto market capitalization. TCAP is an overcollateralized, fully backed asset. Users are able to post collateral to Cryptex vaults and mint TCAP, which can be used for various DeFi strategies. TCAP gets the total market cap price through a Chainlink oracle.

Included in the launch of Tower, is the creation of a TCAP/WETH Uniswap V3 pool. We are excited to migrate liquidity here to tighten the oracle price and market price of TCAP for traders, hodlers and LP’s. Starting today, we are incentivizing certain ranges for the TCAP/WETH Uniswap V3 pool with 50,000 CTX. To participate open a TCAP/WETH LP position based on the incentivized ranges, then stake your LP position in the Cryptex protocol to earn CTX incentives. There is a step-by-step guide on how to do it on our blog.

Institutions and market participants who are interested in minting TCAP will now have access to our new “hard mode” vault system, which reduces the collateral ratio to mint TCAP from 150% to 110%. This provides minters with greater capital efficiency to utilize their ETH, WBTC, DAI, and USDC as collateral to mint TCAP for a variety of long & short strategies. Hard mode vaults require users to mint a minimum of 20 TCAP. You can learn more about these strategies here. The new vaults also have a higher R/R for liquidations to ensure the protocol is always a minimum of 110% collateralized. We’ve also developed a vault monitoring tool for users to manage their vaults easily.

Institutions that are interested in holding TCAP will have access to world-class custody with Gemini: the most secure, compliant, and user-friendly custody solution on the market. TCAP is available now on Gemini for institutional-grade crypto storage.

The mission of the Cryptex DAO continues to be getting TCAP and CTX into the hands of the world, and we are happy to work towards this in the next phase of the protocol.

-The Cryptex Team

Follow Cryptex

You can keep up with Cryptex on Twitter, Reddit, and Discord.

CRYPTEX IS A FAIR LAUNCH PROTOCOL

1. NO ICO
2. NO VC FUNDING
3. NO PRE-SALE
4. CTX TOKENS ARE REWARDED AND ARE NEVER PURCHASED FROM CRYPTEX.

DISCLAIMER: Any views expressed in this post represent the sole analysis of Cryptex, (“Cryptex”) whose opinions are based solely on publicly available information. No representation or warranty, express or implied, is made as to the accuracy or completeness of any information contained herein. Cryptex expressly disclaims any and all liability based, in whole or in part, on such information, any errors therein or omissions therefrom. Cryptex also reserves the right to modify or change its views or conclusions at any time in the future without notice. Cryptex is an open-source, fully decentralized protocol. Cryptex is NOT an ICO. No sale has been solicited. The information contained in this post DOES NOT recommend the use of any Cryptex token, nor is it an offer to sell, a solicitation, or an offer to buy any Cryptex tokenized asset. Furthermore, CTX token rewards governing the protocol are granted by Cryptex to system providers with a value of ZERO. Always do your own research. The information contained in this post is not intended to be, nor should it be construed or used as, investment advice. No representation, recommendation, or warranty, express or implied, is made as to the future performance or functionality of any Cryptex token. Any unaffiliated use of this document, or the contents herein, is strictly prohibited without the prior written consent of Cryptex.