Why Use CDx Swaps?

There are many reasons to use CDx, here are some of our favourites.
CDx - Example #1: Profit by Selling Swaps
Earn Profit By Selling CDx Swaps
Earn premiums by insuring trusted, secure exchanges.
CDx - Example #2: Protect Your Assets
Protect Your Digital Assets
Insure against hacks and trade with confidence.
CDx - Example #3: Bet Against Weak Exchanges
Bet Against Exchanges With Weak Security
Purchase CDx swaps and profit if an exchange fails.
CDx - Example #4: Gain Transparency
Gain Transparency
See how risky an exchange is by checking the CDx market.
CDx - Example #5: Access Liquidity
Access Liquidity
Anyone around the world can access the tokenized CDS market.
CDx - Example #6: Increase Efficiency
Increase Efficiency
Save money by eliminating middlemen who charge high fees.
The Problem

Cryptocurrency Hacks are Rampant

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.

CDx - Chart #1: Cryptocurrency Exchange Hacks
Value Proposition

Current Custody Solutions Fail Users

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.

CDx - Image #2: Top Cryptocurrency Exchanges
Centralized Exchanges
Access to liquidity
  • Open to exchange credit risk
  • Obvious target for hackers
  • Little transparency
CDx - Image #3: Top Personal Wallets
Personal Wallets
Zero exchange credit risk
  • Zero immediate liquidity
  • Legal restrictions
  • Potential for user error
CDx - Image #4: CDx Logo
CDx Protocol
Best of both worlds
  • Zero exchange credit risk
  • Access to liquidity
  • Full transparency

Credit Default Swaps are Tradable Insurance Policies

The buyer pays the seller a premium upfront in exchange for protection from an event, such as an exchange being hacked.

CDx - Image #1: Solution

Swap Lifecycle

Step #1

Permissionless Swap Creation

Protocol users design and propose new types of swaps, which can then be issued and traded.

CDx - Image #5: Swap Creation
Step #2

Decentralized Swap Trading

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.

CDx - Image #6: Swap Trading
Step #3

Efficient Swap Settlement

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 - Image #7: Swap Resolution

A Token System that Creates and Captures Value

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 - Image #8: Native Token
CDx - Icon #1: Fees
  • Pay for transaction fees

CDx - Icon #2: Transfers
  • Trade on secondary crypto exchanges

CDx - Icon #3: Staking.a
  • Earn $$ as a member of the determinations committee
CDx - Image #9: Cred Token
CDx - Icon #4: Governance
  • Vote on major protocol decisions

 CDx - Icon #5: Redemption
  • Convert back to Native

 CDx Icon #6: Staking.b
  • Earn $$ as a member of the determinations committee
CDx Vision

The Tokenization of Finance is Inevitable

CDx will be a cornerstone of the decentralized financial ecosystem by tokenizing a part of the $500+ trillion swap asset class.

bttm"> CDx - Chart #2: Total Addressable Market

CDx Roadmap

2017 Q4
  • CDx Founded
2018 Q1
  • Completed market research, business plan, and protocol design
  • Drafted whitepaper 0.1
2018 Q2
  • Began smart contract development for CDx 1.0
  • Began development of first relayer (P2P insurance for exchange hacks)
2018 Q3
  • Publicly announced CDx
  • Released whitepaper 0.5
2018 Q4
Testnet Preparation
  • Finalize smart contract development
  • Complete development of first relayer
2019 Q1
Testnet Launch
  • Launch smart contracts and first relayer on testnet
  • Perform first security audit
2019 Q2
  • Perform second security audit
  • Prepare for exchange listings
2019 Q3
Mainnet Preparation
  • Optimize user interface
  • Release developer tools
2019 Q4
Mainnet Launch
  • CDx 1.0 mainnet launch
  • Prepare for CDx 2.0 with partial collateralization