A step-by-step guide to the TCAP Index Token
<aside> 💡 TLDR: TCAP is the first Total Crypto Market Cap Index Token that gives users exposure to the cryptocurrency market.
TCAP is an index token that provides users with exposure to the cryptocurrency market capitalization.
From governance tokens to stablecoins and altcoins, if it has a market cap, it is included in TCAP.
TCAP utilizes Chainlink oracles to gather data from the top crypto data providers and Ethereum smart contracts to bring that data to the blockchain.
<aside> <img src="/icons/forward_green.svg" alt="/icons/forward_green.svg" width="40px" /> Total Crypto Market Cap notional value of component data within the TCAP price oracle = $650,000,000,000
<aside> <img src="/icons/forward_blue.svg" alt="/icons/forward_blue.svg" width="40px" /> Total value = $650B/ 10B(divisor)= $65 TCAP token price $65 TCAP index token value is then collateralized by ETH, WETH, DAI, LINK, AAVE, USDC, and WBTC within the vault minting system.
<aside> <img src="/icons/forward_purple.svg" alt="/icons/forward_purple.svg" width="40px" /> $65 TCAP index token is now fully backed and tracking, on a nominalized basis, the market cap value of all components within the index.
<aside> <img src="/icons/forward_yellow.svg" alt="/icons/forward_yellow.svg" width="40px" /> The TCAP oracle price is obtained directly from a Chainlink oracle, while the market price is determined by the balance of supply and demand.
Each TCAP index token is created through minting. Similar to Maker DAO, Cryptex Finance uses a collateralized debt position. Users can mint TCAP using various supported collateral assets within the vault minting system.
These collateral options include ETH, WETH, WBTC, DAI, USDC, LINK and AAVE, with a minimum collateral ratio of 125%.
TCAP has no minting or streaming fees. Instead, a 1% burn fee is applied to all transactions to fund Cryptex Finance DAO activities.