The CCX Token will be used within the “CRYX Ecosystem”. This ecosystem will be composed of four different member types in who will be exchanging services and products. They are the following:
• CRYX
• Individual Contributors
• Crypto Funds / Asset Managers / Hedge Funds
• Third-Party Data Vendors
1. CRYX
CRYX’s aim is to support investors via benchmarking and data/analytics solutions to help them have an accurate view of the cryptocurrency market environment so that they can manage and build better portfolios and investment strategies.
Within the CRYX Ecosystem, CRYX will deliver the following services in order for different parties to partake in a certain way in the ecosytem:
• CRYX’s Own IDE (i.e. Our IDE Will Be Supporting Python)
• Support Investors By Providing Benchmarking and Data/Analytics Solutions
• Provide CRYX Cryptocurrency Market Indexes; Different Series of Indices Allocating Different Weights to the Constituents (i.e. CRYX5, CRYX10, CRYX25, CRYX50, CRYX100)
• CRYX’s APIs On Over 15 Technical Indicators
• CRYX’s APIs on Machine Learning Algorithms for Prediction and Classification Purposes
• Provide the Cryptocurrency Volatility Index (CVX) and its Underlying Data
• Provide the Cryptocurrency Classification Standard (CCS) and its Underlying Data
2. Individual Contributors
Contributors, who will also be part of the CRYX Community, will be able to create and write their algorithms on our own IDE supported by Python.
Thereafter, it will be up to them to either publicly share their algorithms and findings, to exchange them, to sell them or to keep them private.
Contributors will mainly have four different activities on the CRYX Platform:
• They will be able to participate in the “CRYX or Crypto Fund Contests”, after which the top-3 performers (the users with the highest Sharpe ratios) will be rewarded CCX Tokens through the use of Smart Contracts on the Ethereum Blockchain
• They will be able to use CRYX’s data in order to backtest their strategies and algorithms, even though CRYX’s data will not be available for display
• They will be able to buy CRYX’s data with CCX Tokens in order to own the underlying data and go deeper into their data analyses and backtests
• They will be able to share their research and findings with other contributors and members of the CRYX community
3. Crypto Funds / Asset Managers / Hedge Funds
These ecosystem actors will get the opportunity to partake in different activities in the CRYX platform.
• Firstly, they will have the opportunity to organize “Crypto Fund Contest” in which they will decide on whether to provide directly the data to the competition participants or, via a license agreement with CRYX, deliver first the data to CRYX and be hidden afterwards so that their data will be hidden all along the competition but competitors will be able to backtest their strategies on them. As per the “CRYX Contest”, the winners of the competition will be rewarded CCX Tokens from the Crypto Fund. Also, winners will also have the opportunity to keep long-term relationships with top managers from these Crypto Funds
• Secondly, Crypto Funds will be able to buy CRYX’s many services (e.g. indices and its underlying data) with the use of CCX Tokens
• Finally, Crypto Funds will be allowed to use the various CRYX Indices in order to compare their investments to our benchmarks in the case they are relative-return oriented.
4. Third-Party Data Vendors
These ecosystem actors will get the opportunity to partake in different activities in the CRYX platform. Various data vendors will also be able to deliver and provide data to CRYX through the use of Smart Contract using the Ethereum blockchain. This will result in license fees paid by CRYX in CCX Tokens, which in turn will enable CRYX Individual Contributors to backtest their strategies on this latter, whether it is during a “CRYX or Crypto Fund Contest” or simply on the CRYX Community forum.
All type of data vendors will be accepted in the CRYX ecosystem as long as the underlying data are related to crypto and blockchain investments.
The CCX Token
The CCX Token will be used within the CRYX Ecosystem as they will become the medium of exchange for all of the smart contracts which will be created.
When will the Smart Contracts be used within the CRYX Ecosystem?
Whenever contests will be organized. It can be either the “CRYX Contest” or the “Crypto Fund Contest”. The top-3 performers (i.e. the ones with the highest Sharpe ratios) will be rewarded with CCX Tokens from the organizers.
Whenever a transaction, whatever the purpose, will be carried out within the CCX Ecosystem. As an example, whenever a Crypto Fund or an Individual Contributor will wish to purchase the CRYX indices and its underlying data, a smart contract will be put in place in order to secure and guarantee the transaction and to make sure both parties have what is expected without any fees involved.
Want to know more about the CRYX Project ?
Feel free to visit the CRYX official website on: https://www.cryx.io or to contact the CRYX Team on: [email protected]
Join the CRYX Community:
FACEBOOK: https://www.facebook.com/CRYXindex/
TWITTER: https://twitter.com/CRYXindex
REDDIT: https://www.reddit.com/user/CRYXindex
LINKEDIN: https://www.linkedin.com/company/11216196/
GITHUB: https://github.com/CRYXindex/cryx
INSTAGRAM: https://www.instagram.com/cryxindex/
TELEGRAM: https://t.me/CRYXindex