[{"data":1,"prerenderedAt":346},["ShallowReactive",2],{"api/learn-center-post-en-what-is-cryptex-finance-ctx":3,"footer-en":56,"learn/cryptocurrency-guide/what-is-cryptex-finance-ctx-en-seo":254,"navigation-en-learn-center":259,"api/learn-categories-en":307},{"seo":4,"locale":25,"breadcrumbs":26,"excerpt":34,"featuredImage":35,"components":38,"title":5,"formattedPublishedAt":49,"geofencings":50,"category":51,"pagination":53,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"What is Cryptex Finance (CTX)?","What is Cryptex Finance (CTX)? - Cryptocurrency Guide","Cryptex Finance is the first decentralized index product that offers exposure to the total market cap of cryptocurrencies.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/What_is_Cryptex_Finance_97143053b2_7cf3e7f313.svg","image/svg+xml",".svg",1920,1080,"What_is_Cryptex_Finance_97143053b2.svg","",[],[20,23],{"pathname":21,"locale":22},"/es/learn/cryptocurrency-guide/what-is-cryptex-finance-ctx/","es",{"pathname":24,"locale":25},"/learn/cryptocurrency-guide/what-is-cryptex-finance-ctx/","en",[27,31],{"id":28,"text":29,"url":28,"asUrl":30},"/learn/cryptocurrency-guide/","Cryptocurrency guide",true,{"id":32,"text":5,"url":24,"asUrl":33},"what-is-cryptex-finance-ctx",false,"\u003Cp>Cryptex is a platform that provides crypto users access to a suite of decentralized finance (DeFi) tools across multiple blockchains. \u003C/p>\n",{"url":36,"mime":12,"ext":13,"width":14,"height":15,"name":37,"alt":17},"bitstampImageUrl/What_is_Cryptex_Finance_ea74fe5c25_11ac66f934.svg","What_is_Cryptex_Finance_ea74fe5c25.svg",[39],{"component":40,"props":41,"content":42,"secondaryContent":46,"ctas":47,"secondaryCtas":48,"ctasNoMarginTop":33},"section.full-text",{"centered":33,"withoutSectionContainer":33},{"text":43,"width":44,"align":45},"\u003Cp>\u003Ca href=\"https://www.bitstamp.net/learn/web3/what-is-decentralized-finance-defi/\">DeFi\u003C/a> has become a cornerstone of utility for crypto users. For those looking to use their assets for flexible trading and yield-generating strategies—coupled with freedom from traditional financial institutions—DeFi is an incredibly useful resource. \u003Ca href=\"https://www.bitstamp.net/en-gb/learn/people-profiles/satoshi-nakamoto/\">Satoshi Nakamoto\u003C/a> imagined \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-bitcoin-btc/\">Bitcoin\u003C/a> could replace \u003Ca href=\"https://blog.bitstamp.net/post/what-is-fiat/\">fiat\u003C/a> currencies for the purposes of transactions and storing value, but money does so much more. DeFi is the natural evolution of that vision. \u003C/p>\n\u003Cp>However, DeFi is not just one thing. It includes spot trading, \u003Ca href=\"https://www.bitstamp.net/learn/crypto-trading/what-are-derivatives/\">derivatives\u003C/a> trading, various types of \u003Ca href=\"https://www.bitstamp.net/en-gb/learn/crypto-101/what-are-stablecoins/\">stablecoins\u003C/a>, asset tokenization, \u003Ca href=\"https://www.bitstamp.net/learn/web3/what-is-decentralized-lending-and-borrowing/\">borrowing and lending\u003C/a>, \u003Ca href=\"https://www.bitstamp.net/learn/web3/what-is-yield-farming/\">yield-generating\u003C/a> strategies, and many other common and niche uses. At the beginning of the DeFi movement, platforms focused on doing just one of these jobs well. \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-aave/\">Aave\u003C/a>, for instance, is a large and active lending protocol. \u003Ca href=\"https://www.bitstamp.net/en-gb/learn/cryptocurrency-guide/what-is-uniswap-uni/\">Uniswap\u003C/a> is a \u003Ca href=\"https://www.bitstamp.net/en-gb/learn/web3/what-is-a-decentralized-exchange-dex/\">decentralized exchange\u003C/a> (DEX) that allows for spot trading of individual tokens. \u003C/p>\n\u003Cp>As the space has matured, more platforms have attempted to collate these functions into one comprehensive place. Cryptex is a platform that offers a comprehensive collection of DeFi services including spot trading, \u003Ca href=\"https://www.bitstamp.net/learn/crypto-trading/what-are-perpetual-futures-contracts/\">perpetual\u003C/a> trading, and automated strategies for earning yield. It additionally tries to improve on competitor products by offering seamless cross-chain interactions. Its CTX token aids in governance of the platform.  \u003C/p>\n\u003Ch2>How was Cryptex Finance developed?\u003C/h2>\n\u003Cp>Cryptex was founded by Joe Sticco and Thomas Matzner. Prior to involvement in the \u003Ca href=\"https://www.bitstamp.net/learn/blockchain/what-is-a-blockchain/\">blockchain\u003C/a> space, Joe Sticco was an investor. His partner, Thomas Matzner (“Matz”), was previously involved in business development at both startups and larger consumer companies. Sticco and Matz knew each other from previous endeavors, and Cryptex came out of a phone call between the friends between 2018 and 2019. \u003C/p>\n\u003Cp>After building a team, Cryptex’s founders launched the Total Crypto Market Cap (TCAP) token in 2021, which was a \u003Ca href=\"https://www.bitstamp.net/learn/blockchain/what-are-synthetic-assets/\">synthetic asset\u003C/a> meant to track the entire \u003Ca href=\"https://www.bitstamp.net/en-gb/learn/crypto-trading/what-is-market-cap/\">market cap\u003C/a> of the crypto market. They viewed this as a way for users to invest in the whole of crypto rather than one coin or another. Later, the platform announced JPEGz, a token meant to grant exposure to the total \u003Ca href=\"https://www.bitstamp.net/learn/web3/what-are-nfts-non-fungible-tokens/\">non-fungible token\u003C/a> (NFT) market.  \u003C/p>\n\u003Cp>Over the ensuing year, CTX was listed on multiple centralized and decentralized exchanges and reached a trading volume of over $450 million. Then, in June 2023, Cryptex announced “Cryptex v2”, a decentralized perpetuals market that offered \u003Ca href=\"https://www.bitstamp.net/learn/crypto-trading/what-is-leverage-trading/\">leveraged\u003C/a> trading of digital assets on Arbitrum’s \u003Ca href=\"https://www.bitstamp.net/en-gb/learn/blockchain/what-are-layer-2-solutions/\">layer 2 scaling solution\u003C/a>. With it, Cryptex announced an incentive program to spur use of the system. This shift in strategy was the beginning of Cryptex’s focus on a more comprehensive DeFi platform, solidified with its announcement of “Cryptex π”, the third iteration of Cryptex Finance.  \u003C/p>\n\u003Cp>Importantly, Cryptex in its current form does *not *refer to the older Hong Kong-based company of the same name which released a Bitcoin debit card in 2014, nor does it refer to the Russian exchange operating under the same moniker. \u003Cstrong>These other projects are unrelated.\u003C/strong> \u003C/p>\n\u003Ch2>How does Cryptex Finance work?\u003C/h2>\n\u003Cp>There are four basic parts to Cryptex Finance’s DeFi platform. These span spot trading, perpetuals, indexes, and smart vaults and are all offered in different forms by other DeFi platforms. However, Cryptex aims to keep DeFi functionality on one universal site, allowing seamless access to digital asset manipulation. \u003C/p>\n\u003Cul>\n\u003Cli>\u003Cp>\u003Cstrong>Spot trading\u003C/strong> – When people think of decentralized exchanges (DEXes) like Uniswap and \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-sushiswap-sushi/\">SushiSwap\u003C/a>, they are generally thinking about spot trading. This means trading one digital asset for another on the same blockchain. Cryptex also offers cross-chain trading, differentiating itself from other DEXes. \u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Decentralized perpetual trading\u003C/strong> – Cryptex uses \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-pyth-network-pyth/\">Pyth\u003C/a> and \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-chainlink-link/\">Chainlink oracles\u003C/a> to allow for low-latency trading. Perpetuals are derivatives that allow for continuous leveraged trading, rather than relying on products with an expiration date (like \u003Ca href=\"https://www.bitstamp.net/learn/crypto-trading/what-are-futures/\">futures\u003C/a> or \u003Ca href=\"https://www.bitstamp.net/learn/crypto-trading/understanding-crypto-options-strategies/\">options\u003C/a>). Fees are charged to users for placing orders and upon settlement, in order to help fund the system.  \u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Indexes\u003C/strong> – Cryptex’s original TCAP token, meant to track the capitalization of the total cryptocurrency market, is a synthetic asset that can be traded by users and is backed by deposits of other cryptocurrencies like ETH. Other indexes are planned. \u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Smart vaults\u003C/strong> – These are smart contracts into which users (called liquidity providers, or LPs) can deposit crypto to smooth out the funding of the larger Cryptex ecosystem. To support other aspects of DeFi supported by the platform, like indexes and perpetual trading in multiple markets, locked crypto can collateralize positions with risk. This allows depositors to earn a stable yield in return.\u003C/p>\n\u003C/li>\n\u003C/ul>\n\u003Ch2>How is the CTX token used?\u003C/h2>\n\u003Cp>CTX is a native \u003Ca href=\"https://www.bitstamp.net/en-gb/learn/crypto-101/what-is-erc20/\">ERC-20\u003C/a> token on the \u003Ca href=\"https://www.bitstamp.net/en-gb/learn/cryptocurrency-guide/what-is-ethereum-eth/\">Ethereum\u003C/a> blockchain, but it is also available on both \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-the-base-layer-2-network/\">Base\u003C/a> and Optimism. There is a maximum supply of 10,000,000 CTX.  \u003C/p>\n\u003Cp>The CTX token is primarily used as a means of decentralized governance of the platform. This allows the community that uses Cryptex to guide the development of the protocol and decide on its direction. Addresses with more than 100,000 CTX delegated to them may propose governance actions that translate to the final code of the platform. Changes made through this governance process are subject to the “Timelock”, which is a contract that defines a delay of 2-30 days before code is put into action. \u003C/p>\n\u003Ch2>\u003C/h2>\n\u003Cp>Cryptex essentials \u003C/p>\n\u003Cul>\n\u003Cli>\u003Cp>Cryptex is a multi-function, multi-chain effort that consolidates DeFi services into one comprehensive platform. \u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>Though the company was originally founded to support a synthetic asset that followed the total crypto market cap (TCAP), it later expanded to include cross-chain spot trading, perpetuals trading, and more. \u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>The CTX token is used as a community governance token that helps guide Cryptex’s development.\u003C/p>\n\u003C/li>\n\u003C/ul>\n","full","left",{"text":17},[],[],"August 28th, 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Network","/lightning-network-node/",{},{},{"noFollow":33,"isExternal":33,"name":185,"value":186,"isEmail":33,"isPhoneNumber":33,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":187,"geofencings":188},"Market Details","/market-details/",{},{},{"title":190,"content":17,"items":191},"Address",[192,196,200,204],{"noFollow":33,"isExternal":33,"name":193,"value":17,"isEmail":33,"isPhoneNumber":33,"isText":30,"showOnDesktop":30,"showOnMobile":30,"attachment":194,"geofencings":195},"Bitstamp Ltd",{},{},{"noFollow":33,"isExternal":33,"name":197,"value":17,"isEmail":33,"isPhoneNumber":33,"isText":30,"showOnDesktop":30,"showOnMobile":30,"attachment":198,"geofencings":199},"5 New Street Square",{},{},{"noFollow":33,"isExternal":33,"name":201,"value":17,"isEmail":33,"isPhoneNumber":33,"isText":30,"showOnDesktop":30,"showOnMobile":30,"attachment":202,"geofencings":203},"London, EC4A 3TW",{},{},{"noFollow":33,"isExternal":33,"name":205,"value":17,"isEmail":33,"isPhoneNumber":33,"isText":30,"showOnDesktop":30,"showOnMobile":30,"attachment":206,"geofencings":207},"United Kingdom",{},{},{"title":209,"content":17,"items":210},"Contact",[211,216,220,224,228,232,237,242,247],{"noFollow":33,"isExternal":33,"name":212,"value":213,"isEmail":33,"isPhoneNumber":33,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":214,"geofencings":215},"Customer support","/customer-support/",{},{},{"noFollow":33,"isExternal":33,"name":217,"value":217,"isEmail":30,"isPhoneNumber":33,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":218,"geofencings":219},"info@bitstamp.net",{},{},{"noFollow":33,"isExternal":33,"name":221,"value":221,"isEmail":30,"isPhoneNumber":33,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":222,"geofencings":223},"press@bitstamp.net",{},{},{"noFollow":33,"isExternal":33,"name":225,"value":225,"isEmail":30,"isPhoneNumber":33,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":226,"geofencings":227},"support@bitstamp.net",{},{},{"noFollow":33,"isExternal":33,"name":229,"value":229,"isEmail":30,"isPhoneNumber":33,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":230,"geofencings":231},"complaints@bitstamp.net",{},{},{"noFollow":33,"isExternal":33,"name":233,"value":234,"isEmail":33,"isPhoneNumber":30,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":235,"geofencings":236},"+44 20 3868 9628","+442038689628",{},{},{"noFollow":33,"isExternal":33,"name":238,"value":239,"isEmail":33,"isPhoneNumber":30,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":240,"geofencings":241},"+1 800 712 5702","+18007125702",{},{},{"noFollow":33,"isExternal":33,"name":243,"value":244,"isEmail":33,"isPhoneNumber":30,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":245,"geofencings":246},"+352 20 88 10 96","+35220881096",{},{},{"noFollow":33,"isExternal":33,"name":248,"value":249,"isEmail":33,"isPhoneNumber":30,"isText":33,"showOnDesktop":30,"showOnMobile":30,"attachment":250,"geofencings":251},"+65 3105 1676","+6531051676",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"description":7,"ogDescription":7,"ogImage":255,"twitterImage":255,"twitterSite":256,"twitterCreator":256,"twitterCard":257,"twitterTitle":6,"twitterDescription":7,"titleTemplate":258},"https://assets.bitstamp.net/msc/_ipx/enlarge_true&f_png&fit_cover&q_85&s_1200x630/bitstampImageUrl/What_is_Cryptex_Finance_97143053b2_7cf3e7f313.png","@Bitstamp","summary_large_image","%s",{"items":260,"ready":30,"platformButtonText":303,"backButtonText":304,"logInButtonText":305,"signUpButtonText":306},[261,265,269,272,275,278,281,286,289,294,299],{"headerName":262,"sidemenuName":133,"url":134,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":263,"submenu":264,"tag":17},"Institutions",{},[],{"headerName":125,"sidemenuName":125,"url":126,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":266,"submenu":267,"tag":268},{},[],"NEW",{"headerName":148,"sidemenuName":148,"url":149,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":270,"submenu":271,"tag":17},{},[],{"headerName":105,"sidemenuName":105,"url":106,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":273,"submenu":274,"tag":17},{},[],{"headerName":115,"sidemenuName":115,"url":116,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":276,"submenu":277,"tag":17},{},[],{"headerName":120,"sidemenuName":120,"url":121,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":279,"submenu":280,"tag":17},{"geofencing-uk":30},[],{"headerName":282,"sidemenuName":282,"url":283,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":284,"submenu":285,"tag":17},"Markets","/markets/",{},[],{"headerName":110,"sidemenuName":110,"url":111,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":287,"submenu":288,"tag":17},{},[],{"headerName":290,"sidemenuName":290,"url":291,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":292,"submenu":293,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":295,"sidemenuName":295,"url":296,"noFollow":33,"showInHeader":30,"showInSidemenu":30,"geofencings":297,"submenu":298,"tag":17},"Learn","/learn/",{},[],{"headerName":300,"sidemenuName":300,"url":106,"noFollow":33,"showInHeader":33,"showInSidemenu":30,"geofencings":301,"submenu":302,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[308,312,316,320,324,328,330,334,338,342],{"title":309,"url":310,"geofencings":311},"Blockchain technology","/learn/blockchain/",{},{"title":313,"url":314,"geofencings":315},"Company profiles","/learn/company-profiles/",{},{"title":317,"url":318,"geofencings":319},"Crypto 101","/learn/crypto-101/",{},{"title":321,"url":322,"geofencings":323},"Crypto definitions","/learn/crypto-definitions/",{},{"title":325,"url":326,"geofencings":327},"Crypto trading","/learn/crypto-trading/",{},{"title":29,"url":28,"geofencings":329},{"geofencing-uk":30},{"title":331,"url":332,"geofencings":333},"People profiles","/learn/people-profiles/",{},{"title":335,"url":336,"geofencings":337},"Security","/learn/security/",{},{"title":339,"url":340,"geofencings":341},"Tutorials","/learn/bitstamp-tutorials/",{},{"title":343,"url":344,"geofencings":345},"Web3","/learn/web3/",{},1777532312498]