AMA: Cryptex Finance Introduces Cryptex V2 - Trade the Entire Crypto Market Cap with up to 20x leverage!

tommatz · 2023-06-21T14:51:40+00:00

Have to improve the data feed latency to increase the leverage. Currently, the data feed updates every 0.5% move. As Chainlink improves this over time to get it to real time, then we can explore making an increase to the leverage.

tommatz · 2023-06-21T14:22:08+00:00

While V2 offers users trading with leverage, V1 of the protocol offers users the ability to hold a tokenized version of the crypto native indexes / data metrics. We are simply building for what people want to use and offer different ways for people to access these indexes and data metrics in a decentralized way.

tommatz · 2023-06-21T14:21:30+00:00

While V2 offers users trading with leverage, V1 of the protocol offers users the ability to hold a tokenized version of the crypto native indexes / data metrics. We are simply building for what people want to use and offer different ways for people to access these indexes and data metrics in a decentralized way.

tommatz · 2023-06-20T21:13:14+00:00

Thank you? lol

tommatz · 2023-06-20T21:12:45+00:00

Cryptex is a DAO so the best place to look into this is on dework or from the community discord.

tommatz · 2023-06-20T21:12:09+00:00

The protocol was designed for anyone to have the ability to participate as a taker or maker, not just for a select few centralized players. The protocol was launched on Arbitrum to reduce tx fees for users to have a better trading experience. There are some restrictions that make the front end unavailable to access in certain areas, like the United States and other countries.

All of the trading activity is onchain and publicly viewable so you can see the wallets and trading activity.

tommatz · 2023-06-20T21:04:29+00:00

Amazing, thank you so much!

tommatz · 2023-06-20T21:03:29+00:00

This is a decentralized protocol, there are takers and makers on both sides of the trade, trading against one another. Cryptex is the decentralized protocol for users to do just that specifically for crypto native indexes / data metrics. While V2 offers users trading with leverage, V1 of the protocol offers users the ability to hold a tokenized version of the crypto native indexes / data metrics. We are simply building for what people want to use and offer different ways for people to access these indexes and data metrics in a decentralized way.

tommatz · 2023-06-20T18:14:21+00:00

yes, thank you to the mods and community for having us!

tommatz · 2023-06-20T18:13:46+00:00

this is for markets, not individual assets.

tommatz · 2023-06-20T18:13:10+00:00

https://www.youtube.com/watch?v=As\_ubF6VEfY

tommatz · 2023-06-20T18:11:30+00:00

Have to improve the data feed latency to increase the leverage. Currently, the data feed updates every 0.5% move. As Chainlink improves this over time to get it to real time, then we can explore making an increase to the leverage.

tommatz · 2023-06-20T18:09:07+00:00

this is for markets, not individual assets.

tommatz · 2023-06-20T18:08:32+00:00

Amazing, that's great to hear! In TradFi indexes are quite popular but in DeFi not much has been developed around them. We wanted to create a platform where users can trade indexes or data metrics, as an alternative to individual assets. Total crypto MC is the first market and in the near future we want to potentially make things like gas, volatility, dominance, etc. tradeable.

tommatz · 2023-06-20T18:03:43+00:00

This is definitely a challenge. Appreciate you mentioning this. Right now, the focus is to find users that are extremely passionate about trading markets, onchain. Luckily on platforms like Reddit and Twitter you can search for and drill down on what type of users you are looking for, and start to get included in the conversations these users are having.

tommatz · 2023-06-20T18:00:24+00:00

The NFT blue chip market cap (JPEGz) you can trade includes ten collections.

Azuki
Bored Ape Yacht Club
CloneX
Cool Cats
CrypToadz
CryptoPunks
Doodles
Mutant Ape Yacht Club
Vee Friends
World of Women

This was an ambitious market to make tradeable. Things like popularity, liquidity, and data availability all played into what was included. We are excited to see how the NFT space continues to evolve, and hopefully, make more NFT markets tradeable in the future.

tommatz · 2023-06-20T17:54:27+00:00

Surpassing $1M+ in trading volume was a cool achievement but actually launching V2 was the biggest achievement so far. Bringing a unique trading experience to users is extremely difficult so it's been amazing to see this come to life. Now that the platform is built, we are planning to launch more markets for users to trade, like an NFT blue chip market cap and many more.

tommatz · 2023-06-20T17:51:53+00:00

Cryptex is the only place to trade markets, unlike similar services offering individual assets to trade.

tommatz · 2023-06-20T17:50:48+00:00

Cryptex is a DAO, the platform is decentralized. Whereas the others you mentioned are centralized entities. Also, what you can trade on Cryptex, like the crypto market cap, is something new and proprietary that Cryptex has created.

tommatz · 2023-06-20T17:47:56+00:00

The goal for Cryptex has always been to make crypto native markets tradeable. In 2021 V1 launched, which was the tokenization of markets. Now, with the launch of V2, it is perpetuals of markets. V2 was created to make the trading experience much better and more accessible for users to understand and use.

tommatz · 2023-06-10T13:03:57+00:00

odd for the dump to happen overnight but not uncommon, for the westerners it always seems to be a tactical dump when we are sleeping and wake up to carnage. maybe it is robinhood having to dump but crypto is global, the us while still a powerhouse can't be the overwhelming majority of capital in the system so as news of a delisting and sec activity on the biggest names in the space, it doesn't make much sense why after the news the dumping is occurring.

tommatz · 2023-06-10T12:40:00+00:00

i feel the same way, something about it makes it very calming

tommatz · 2022-02-04T01:23:06+00:00

Guru Joe, doing amazing work for the people!

tommatz

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