The First Total Cryptocurrency Marketcap Index on BNB Chain — dTMC is listed on Duet App
Announcing dAsset listing: dTMC
Duet Protocol team is excited to announce that a new type of synthetic asset is listed on Duet App, which is named “dTMC”, the first Total Cryptocurrency Market Cap Index USD ever listed on the BNB Chain.
As the crypto market has grown dramatically in recent years, from only $180 billion in early 2020 to over $2.8 trillion by the end of 2021, almost 10 times increase in only one year, many investors from other traditional industries also looked for chances to enter into the crypto world in past years. The large Cryptocurrency Market Cap has gotten the public attention.
Total Cryptocurrency Market Cap
Total Cryptocurrency Market Capitalization (Excluding Bitcoin)
What does Crypto Market Cap Mean for Investors?
Total Cryptocurrency Market cap tracks the market value of a cryptocurrency. It is an outstanding vehicle for investors who just wish to get exposure to the entire industry. Its price reflects a diversified investment portfolio weighted by market capitalization.
Now, dTMC is made available for investors by Duet Protocol. With its introduction, Duet hopes to better serve the investment needs of users.
The price for dTMC will be calculated through the formula: Oracle Price/ 1 billion, for example: when the reading is $1.87 trillion, the dMTC index is priced at $187.
The oracle we have applied is from one of Duet Protocol’s partners Chainlink. It should be noted that the Liquidation Discount Ratio of dTMC is 100%. This means that the dAsset — dTMC can not be used as a collateral, but it will be liquidated if the whole address is liquidated if it is supplied as an asset in the EARN page.
How to get dTMC through Duet dAssets?
Similar to other dAssets such as dWTI and dXAU, there are also two ways to get dTMC on Duet App.
Method One: Users can go to PancakeSwap website https://pancakeswap.finance/swap and use dUSD to buy directly through Swap.
Token Contract Address:
dTMC: 0x529AaFadba71386AB77519DA5eC75ab943dF0b6D
Method Two: Users can add Liquidity in the Earn Module for any LP pair or single asset. After supplying Liquidity, then users can go to the dAssets module to borrow any dAssets including dTMC in the Innovation Markets.
Start your investment journey with dTMC on Duet App now!
Let’s $DUET! Let’s profit!
The end.
