CryptoEasy is a DeFi platform, built on Tezos. CryptoEasy will enable people to create synthetic crypto portfolios and switch portfolio composition in one click. This will be accomplished by creating baskets with mixed synthetic assets.
A synthetic basket does not hold any actual tokens or other assets. It merely tracks the value of the selected assets and calculates the total profit you would have made if you would have held a portfolio with those assets.
The percentage that each share in the portfolio makes up for is obviously included in the calculation. For example, a portfolio with 33% BTC, 33% ETH and 33% XTZ, will experience a different value change than a portfolio with 10% BTC, 20% ETH and 79% XTZ.
Quick explainer on synthetics. Synthetics are basically nothing more than price trackers. Products that contain synthetics do not hold the actual asset that you try to make a profit from. Synthetics on blockchain, are Smart Contracts that get a price update from oracles.
The fact that you don’t actually buy the asset, means that anything can be traded on blockchain without the need for wrapped, or tokenized assets. As long as you have an oracle that updates values for the asset that is part of the contract, the sky’s the limit.
You could have a synthetic for Apple, or, Tesla, if the oracle can update values for the smart contract. CryptoEasy intends to provide exposure to hybrid portfolios composed of cryptocurrencies, NFTs, commodities, real estate or securities.
CryptoEasy is currently in the process of exploring which oracle(s) can be integrated in the project. One of the oracles they look into, is the Tezos-based oracle service Ubinetic oracles.
If you want to be able to exchange value through synthetics, you need to be able to exchange value from something. Since synthetics don’t hold any actual assets, they are essentially empty. So you need actual value to be part of the contract.
Some synthetics are based on two parties that bet against each other. But CryptoEasy takes a different approach. They introduce the EASY token.
Although the value of a token can be volatile, EASY token has value because you need to buy it first. Plain and simple. As any other token, the value of the token depends on several factors, like the future success of the platform itself.
Taking a position in a basket can only be done by staking EASY tokens. Profit is also paid in EASY tokens. In a later stage, CryptoEasy intends to introduce a new, or leverage an existing, stablecoin to the platform as an optional currency.
EASY tokens will also provide traditional DeFi functionalities like staking, lending, farming capabilities. Beyond DeFi, holders of EASY should also have DAO governance capabilities like voting on the EASY stability mechanisms and earn rewards for their activity on the CryptoEasy platform.
Synthetics are a very interesting addition to DeFi products. Besides the fact that you can invest in any asset, you could eventually even create crypto index trackers for example. It is however important to fully understand in great detail what synthetics are, how they are used in CryptoEasy and how you can earn on the platform.
We highly recommend to do a deep-dive in their whitepaper before you start. You can read it here. The whitepaper also contains an extensive tokenomics and roadmap section
CryptoEasy will hold a tokensale on Rocket Launchpad on September the 25th.
The initial supply will be 6 million EASY tokens, from which 1.5 million EASY tokens will be sold through the tokensale.
45% of EASY tokens will be distributed through CryptoEasy’s “Proof of Return” staking mechanism.
And finally, the tokens for private sales, business development, and for the team will be locked following an up to 3-year vesting schedule.
The price per token in the Rocket Launchpad tokensale will be 0.2 USD. The Quipuswap listing rate will be 0.25 USD. The Quipuswap listing is planned to take place right after the tokensale.
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