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Ethereum built Crypto Price Index launches in UAE
Crypto Price Index , a platform built on Ethereum, is an emerging Decentralised Finance (DeFi) project which aims to allow users to participate in the crypto markets in a stable and less volatile manner. CPI achieves this via an index coin linked to the average value of the top 200 crypto assets. The startup is based in the United Arab Emirates (UAE), is offering those interested in cryptocurrencies choices through its Crypto Price Index which can be achieved through its native CPIX token. Through this token ecosystem, users can gain broad exposure to the cryptocurrency industry as a whole. It does not require any specific knowledge of different projects, which can certainly be appealing to onlookers.
The Crypto Price Index is not just tracking the top 10 or 20 of crypto assets ranked by market cap. Instead, it is designed to offer token holders a massively diversified range of assets spanning the different segments of the cryptocurrency industry.
Accordingly the project has received support from several prominent Emirate families. For example, sitting on the CPI advisory board is His Highness Sheikh Abdullah Bin Rashed Al Sharqi, from the eminent Al Sharqi Ruling family of Fujairah as well as others mentioned on their website.
To utilze the index users will need to obtain the CPI token. This particular token is a governance token which presents a stake in the overall Crypto price Index ecosystem. Holders of this token can reward or penalize network participants depending on their overall behavior. Different instances of the CPI tokens will exist. Users can customize the basket of currencies they want to be exposed to. For example, a CPI30 token will expose traders to 30 different cryptocurrencies.
on July 15, 2020 Crypto Price Index released its CPI tokens to the public on the HotBitexchange.