GyroX is a pioneering protocol within the Web3 ecosystem. It is merging the concept of Credit Default Swap (CDS) with NFT technology. Its primary objective is to mitigate the risk associated with infrequent, high-impact events across various domains.
Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (GX/USDT – Trade it here) on the Innovation Zone! Check it out now!
What is a Credit Default Swap (CDS)?
A Credit Default Swap (CDS) serves as a financial agreement between two parties: the CDS seller and the CDS buyer. In this arrangement, the CDS seller undertakes the responsibility to provide compensation to the buyer if a payment default occurs. In exchange, the CDS buyer commits to making periodic payments to the CDS seller until the agreement matures.
This financial tool enables an investor to exchange or offset their credit risk with that of another investor. To transfer the risk of default, a lender acquires a CDS from another investor who agrees to reimburse them should the borrower fail to meet their payment obligations.
CDS were conceived as a means for the buyer to shift the burden of risk in the event of payment defaults. It functions akin to an insurance policy, with the buyer making regular periodic payments to the seller. Typically, buyers employ CDS to safeguard themselves against the default of various financial instruments, including government bonds, corporate debt, and sovereign debt.
How Does a Credit Default Swap (CDS) Work?
A Credit Default Swap (CDS) serves as a financial agreement between two parties: the CDS seller and the CDS buyer. In this arrangement, the CDS seller undertakes the responsibility to provide compensation to the buyer if a payment default occurs. In exchange, the CDS buyer commits to making periodic payments to the CDS seller until the agreement matures.
This financial tool enables an investor to exchange or offset their credit risk with that of another investor. To transfer the risk of default, a lender acquires a CDS from another investor who agrees to reimburse them should the borrower fail to meet their payment obligations.
CDS were conceived as a means for the buyer to shift the burden of risk in the event of payment defaults. It functions akin to an insurance policy, with the buyer making regular periodic payments to the seller. Typically, buyers employ CDS to safeguard themselves against the default of various financial instruments, including government bonds, corporate debt, and sovereign debt.
What are the Features of GryoX?
GyroX distinguishes itself as a user-friendly CDS platform that empowers users to generate their own events. Within the framework of established regulations, individuals can issue CDS events that revolve around their unique ideas.
This platform also serves as a customizable hedging marketplace for consumers. Users gain the ability to hedge against low-probability risks within a broader range than what’s typically available in the traditional CDS market.
Furthermore, GyroX operates as a credit enhancement platform for project creators. Founders can build trust among token holders by introducing CDS events with prize pools. In the unfortunate event of unexpected occurrences affecting a project’s token, token holders stand to receive substantial compensation.
Consider the examples of Luna and FTX, which inflicted significant losses on investors and eroded the wealth of many. However, envision a scenario where investors had purchased bankruptcy CDS events for these platforms; the potential financial gains could have been substantial.
Where to buy GX Token
You can find GX Tokens here at MEXC! We are listing GX/USDT in our Innovation Zone!
What is the Price of GX Tokens?
The GX Token is currently trading at MEXC with a live price of $0.00009. You can check the live price of their token right here!
How to buy GX Tokens on MEXC
You can buy GX Tokens on MEXC by following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “GX” using the search bar to see the available trading pairs. Take GX/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of GX you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy GX] to confirm your order. You will find the purchased GX in your Spot Wallet.
You can find a detailed guide on how to buy GX Tokens here.
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