dTMC: The First Total Cryptocurrency Marketcap index on BNB chain!
Total cryptocurrency market capitalization (TMC) is a metric that indicates the total worth of crypto’s circulating supply in the market. This index reflects the current market state and provides a measurement of how valuable a cryptocurrency is. In general, it is also referred to as the total market cap of cryptocurrencies. TMC is the addition of all cryptocurrencies’ market cap and a crypto’s market cap is calculated by multiplying the current price of the crypto with the circulating supply.
Factors that affect the TMC of cryptocurrency
There are several factors that affect the TMC of crypto assets. These factors cause TMC to appreciate or depreciate, whichever the case might be.
- Price of a crypto asset: A little variation in the price of a crypto asset can cause the market cap to change drastically. For example, if the price of a crypto asset reduces from $20 to $5 with a total circulating supply of 50,000 assets, the total market cap reduces from $1,000,000 to $250,000. This is more than a 50% reduction in the total worth of the asset. The price is dependent on the two other factors that affect the total market cap.
- Market Volume: The market volume is the total amount of crypto assets that are exchanged in the market within a certain period of time. As usual, the total amount of trading that takes place is a major contributor to the volatility of the crypto market. This simply means that a high volume market leads to a less volatile market, which can cause a significant manipulation of the price of a crypto asset.
- Liquidity: It refers to how easily a crypto asset may be bought or sold in the market at a price that reflects its present worth. Just like a high market volume, a high liquid asset significantly leads to changes in the price of a crypto asset.
Introduction to Duet Protocol
Duet protocol is a multi-chain synthetic assets ecosystem built on a Yield Aggregator that automates the process of Yield Farming, maximizes its returns and releases additional liquidity to the users. Duet Protocol will support different asset classes like stock, index, ETF, commodities, or any asset with a price feed.
“A parallel universe which turns flat assets into sharp assets.”
The new Duet dAsset — dTMC
In addition to the previously listed dAssets on the Duet App, dXAU (gold) and dWTI (oil), a new dAsset “dTMC” was recently listed on Duet. You can find more information about dXAU and dWTI in my article here.
dTMC is the first total cryptocurrency marketcap index on the BNB chain. It tracks the total market capitalization of crypto markets. Investors tend to benefit from TMC by means of a weighted cap strategy. It implies that each asset is invested appropriately, resulting in a diversified portfolio based on market cap. Duet Protocol’s latest dAsset, dTMC, is designed to better satisfy users’ investing needs. Its price index formula is calculated as the total market cap in USD divided by 1 billion.
How to get dTMC on Duet Protocol!!!
Similar to other Duet dAssets, there are two ways users can get dTMC on Duet Protocol.
- Purchase on PancakeSwap
- Borrow dTMC on Duet App
Steps to purchase on PancakeSwap
- Go to PancakeSwap
- To enable dUSD/dTMC pair to swap, use the contract addresses below to add the tokens to the list.
dUSD: 0xe04fe47516C4Ebd56Bc6291b15D46A47535e736B
dTMC: 0x529AaFadba71386AB77519DA5eC75ab943dF0b6D
Steps to borrow dTMC on Duet App
- Go to the Duet App.
- Liquidity must first be provided. To provide liquidity, click on any single assets/liquidity pairs on the earn module as shown below. After providing liquidity you will get ‘credits’ which can be used to borrow dAssets.
3. To borrow, go to innovation markets in the dAssets tab and select dTMC.
After borrowing dTMC, users can supply liquidity to the dTMC-dUSD pair in the Earn module to earn attractive APY rewards in the form of bDUET. APYs are liable to fluctuate from time to time.
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