INTRODUCING DUET’S NEW SYNTHETIC ASSET

4 min readMay 23, 2022

INTRODUCING DUET’S NEW SYNTHETIC ASSET

WHAT IS TOTAL CRYPTO MARKET CAP?

The Total Market capitalization is generally referred to the total value of Cryptocurrencies that are existing. It can be calculated by adding together all the blockchain projects in the entire industry market cap. The total market capitalization of all cryptocurrencies and tokens are listed via established crypto data providers. The TMC (Total Crypto market cap) represents the market cap of the entire crypto market which is a part of a growing wave of crypto financial products which provides exposure to a lot of crypto assets.

IMPORTANCE OF TOTAL CRYPTO MARKET CAP
The importance of Total market capitalization in regards to Crypto, it helps investors to know about the value of Cryptocurrencies in both past and recent times, and how it has attained a stable level. It indicates a statistical growth of a Cryptocurrency and helps investors to make decisions on investing, also investors get to compare various Cryptocurrencies and measure their performance in recent times.

HOW CAN USERS BENEFIT FROM TMC?
With the help of TMC, users can make investment decisions and also compare other Crypto assets to consider their value. It’s an outstanding vehicle for investors to get exposure on crypto industries. Users get a diversified investment portfolio weighted by market capitalization.

WHAT IS dTMC? AND IT’S INNOVATION IN DUET PROTOCOL
dTMC is the first Total Cryptocurrency market cap index USD ever listed on the BNB chain, which is a new type of synthetic asset listed on Duet App. The introduction of this new asset is for investors to have a chance in the crypto market, after its high increase in the past year from its Market Cap, to serve their investment needs in a better way.
dTMC can not be used as a collateral, but if an address is liquidated, then it can be supplied as an asset in the Earn page. Its price is calculated through a formula called Oracle price/1 billion, where if the reading is $1.87 trillion, then dTMC index is priced at $187.

HOW TO GET dTMC ON DUET PROTOCOL?
Getting dTMC on Duet App is similar to getting other dAssets such as dWTI and dXAU, there are also two ways to get dTMC on Duet App.
Method One: Users can get dTMC from the PancakeSwap website. Here are some steps to guide you through; 1.Launch your Metamask wallet.
2.Go to the browser.
3.Input the correct web address "https://pancake swap.finance"
4. Then buy directly through Swap by using dUSD.( select dUSD at top swap area)
4. Then select the bottom swap area to paste the correct Token Contract Address for dTMC: 0x529AaFadba71386AB77519DA5eC75ab943dF0b6D
5.After this is done, you can go ahead to swap.

Method Two:Users can borrow dTMC On Duet protocol by supplying Liquidity.
Here’s a guide through;
1.Input the correct web address for Duet protocol on your browser as usual "app. duet.finance".
2.Go to the Earn page, and supply liquidity to any LP pair or single asset , to get more Credits to borrow dTMC.