Topic: [ANN] CTX - The Governance Protocol Powering TCAP! (Read 102 times)

TCAP is an ERC-20 compatible smart contract that tokenizes real-time Total Market Capitalization from ALL cryptocurrencies and tokens listed on the largest crypto data providers in the world.

TCAP Address: 0x16c52CeeCE2ed57dAd87319D91B5e3637d50aFa4


CTX is a governance token that powers and secures the TCAP protocol developed by Cryptex.Finance. Holders of CTX can vote on protocol upgrades for Total Crypto Market Cap Token, TCAP, as well as all future products within the Cryptex ecosystem.

CTX Address: 0x321C2fE4446C7c963dc41Dd58879AF648838f98D


Accepted vault collateral to mint TCAP: ETH, WETH, WBTC, DAI

Initial TCAP Mint Fee: Zero

Initial TCAP Burn Fee: 1.5%

Initial TCAP Liquidation Penalty: 10%

*Failure to monitor your collateral position may result in you getting liquidated.

*Cryptex is not responsible for monitoring user collateral. Mint TCAP at your own risk.

TCAP pools are live on: SushiSwap

TCAP Pricing Oracle Powered by: Chainlink

Total Cryptocurrency Market Capitalization Data providers: 5

1. CoinMarketCap https://coinmarketcap.com/

2. CoinGecko https://www.coingecko.com/

3. Nomics https://nomics.com/

4. Coin Paprika: https://coinpaprika.com/

5. CoinLore: https://www.coinlore.com/

Median value of the Total Crypto Market Price is added to a Chainlink Aggregator Smart Contract which allows TCAP contracts to access this information on- chain.

Chainklink oracle updates this data on-chain with each 1% price movement.


The TCAP Protocol is managed as a Decentralized Autonomous Organization (DAO) governed by a ERC20 standard interface token, CTX. CTX holders are able to make governance proposals, vote on such proposals, and delegate their votes to other CTX holders. This type of Governance allows for various parameters of the TCAP system to be modified to suit the community and projects best interest. Some aspects of the TCAP system can be upgraded or replaced entirely.

CTX Address: 0x321C2fE4446C7c963dc41Dd58879AF648838f98D


CTX has an initial supply of 10 million tokens, which are distributed to:

Any CTX allocated to the Founders, Advisors, and Treasury are distributed via a multi-year vesting contract. Any Initial Protocol Incentives are distributed via CTX Rewards Issuance & Vesting.

As time goes on, it may be in the best interest of the project and/or community to allocate and mint new CTX tokens. The creation of new CTX tokens via governance vote will be subject to a 2% per year maximum adjustment. That is, the max supply of CTX tokens cannot increase more than 2% in a given 1 year time span. Minting new CTX tokens may be used for compensation of black swan events that leaves TCAP vaults undercollateralized, continued incentives for product development, and other solutions that further advance the protocol.


CTX issuance occurs on a per block basis with rate that diminishes at the start of each month. CTX is rewarded in this manner until the hard cap is reached. The rates are as follows: In order to minimize the volatility of CTX due to new issuance from community rewards, newly rewarded CTX tokens shall be subjected to a vesting period of 6 months where 30% of the reward is immediately available while the remaining 70% reward will not be accessible until 6 months vesting period has been reached.


As an incentive for early Adopters, the TCAP protocol will reward CTX tokens to Vault owners in the first 14 days of deployment. Any Vault owner with outstanding TCAP debt will earn CTX token rewards on a per-block basis. Early adopter rewards are the only type of rewards that don’t need vesting as their main goal is to distribute CTX for protocol governance. Early adopters rewards are issued over 14 days for a total of 500,000 CTX. Assuming approximately 6500 Ethereum blocks per day over 14 days (91,000 Ethereum blocks), the per block reward would be 5.4945 CTX split across the debtors at that point in time.


As an incentive to provide liquidity for TCAP on certain Decentralized Exchanges, the CTX protocol will reward CTX tokens to any liquidity provider who stakes their liquidity pool position within the CTX protocol. These tokens will be rewarded on a per-block basis and be distributed to liquidity providers based on their percentage of pool ownership. Initial liquidity provider rewards target a 6 month cycle where the per block rate is higher initially and decreases on a monthly basis. The total amount of CTX for the initial 6 month liquidity provider rewards is 20% of the protocol or 2,000,000 CTX. Assuming approximately 6500 Ethereum blocks per day over 6 months (1,170,000 blocks), this would result in 1.7094 CTX issued per block.


The Cryptex Finance team aims to provide an innovative opportunity for investors to gain exposure to the entire cryptocurrency in a decentralized and trust minimized protocol. With the launch of the flagship product, Total Market Cap token (TCAP), users in the Decentralized Finance space will have true exposure to Cryptocurrencies in a way that has never been offered.

Check out the original CTX post on our Medium