 | Cryndex (CRYX) |
SporesCryndex, a decentralised application that synthesises stable cryptocurrencies pegged to real-world assets including commodities, stocks, and market indices. Cryndex implements a collateralised borrowing mechanism where users can mint synthetic tokens by depositing collateral, creating a decentralised financial ecosystem that bridges traditional and digital finance.
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Spores Network
BNB ChainWhat is Cryndex
This project presents Cryndex, a decentralised application (dApp) that synthesises stable cryptocurrencies pegged to real-world assets including commodities, stocks, and market indices. Cryndex implements a collateralised borrowing mechanism where users can mint synthetic tokens by depositing collateral, creating a decentralised financial ecosystem that bridges traditional and digital finance.
The protocol incorporates elements from established DeFi platforms-borrowing mechanics inspired by Aave's health factor system and a savings rate mechanism modelled after MakerDAO's DAI Savings Rate. This hybridisation creates a comprehensive system where borrowers pay interest to maintain their positions, which in turn subsidises yields for savers who deposit assets into the protocol. Through extensive testing and evaluation, the project demonstrates how blockchain technology can provide access to traditional financial markets without intermediaries. The implementation showcases the technical feasibility of creating synthetic assets with reliable price pegs while maintaining protocol solvency through carefully balanced risk parameters. Cryndex represents a novel approach to democratising access to global financial markets through decentralised technology.
Cryndex Roadmap
Complete Cryndex MVP for dissertation
Complete Cryndex V2, ready for launch
Apply for funding from many different sources
Complete Cryndex V3, sharing protocol revenue, dynamic borrow + savings rates, etc.
Token Sale Dates
IDO
Token Allocation
Funding Details
Restrictions
Afghanistan, Angola, Balkans, Belarus, Bosnia and Herzegovina, Bulgaria, Burundi, Cameroon, Central African Republic, Côte d’Ivoire, Cuba, Democratic Republic of the Congo, Democratic People's Republic of Korea, Eritrea, Ethiopia, Guatemala, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Lebanon, Liberia, Libya, Mali, Moldova, Montenegro, Myanmar, Nicaragua, Niger, Russia, Rwanda, Sierra Leone, Serbia, Somalia, South Africa, South Sudan, Sudan, Syria, Tunisia, Türkiye, Russian-controlled regions of Ukraine (Crimea, Donetsk, and Luhansk), United States, Venezuela, Virgin Islands US, Yemen, Zimbabwe.
Token Price and Payment Options
Project team
Social media
Twitter
TelegramIndustries
