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Protect your crypto from exchange hacks. CDx is a platform for tokenized, tradable insurance.
Protect your crypto from exchange hacks. CDx is a platform for tokenized, tradable insurance.
Since 2011, $1.65 billion of cryptocurrencies have been stolen.
Adjusting for current prices, this amounts to $12.6 billion.
78% of those assets were stolen from centralized exchanges.
Current solutions to store cryptocurrencies either lack transparency, safety, or liquidity. CDx enables users to access the liquidity of an exchange without the risk of hacks.
The buyer pays the seller a premium upfront in exchange for protection from an event, such as an exchange being hacked.
Protocol users design and propose new types of swaps, which can then be issued and traded.
CDx utilizes the 0x architecture to power peer-to-peer trading of credit default swaps. Buyers and sellers connect via a relayer to exchange swaps in a fully trustless and decentralized manner.
A decentralized committee made up of CDx token holders vote to resolve the outcome of credit events. If a credit event occurs, the buyer receives their promised protection; otherwise, the seller gets their collateral back.
CDx uses a dual token structure that separates utility and governance, enabling a variety of participants to hold tokens and contribute value to the network.
CDx will be a cornerstone of the decentralized financial ecosystem by tokenizing a part of the $500+ trillion swap asset class.
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