šŸ”Ÿ10x Token

Rights: Ownership of the appreciation of crypto assets within the pool, as a Yield Token.

10x Token Issuance Rules

The maximum supply of 10x tokens is capped at 1/10 of the Pool Cap.

Whenever a user input assets into the pool, the protocol updates the current Pool Cap, calculates the maximum amount of 10x tokens that can be issued, and then mints 10x tokens for the user based on the algorithm.

This portion of minted 10x tokens is referred to as the issued portion. The difference between the maximum supply and the issued amount is the to-be-issued portion. The protocol records the amount of this portion of 10x tokens. Holders of E tokens can decide whether to burn E tokens to mint this portion of 10x tokens.

How to Mint 10x Tokens

  • By inputting Assets into the Pool

When the pool's AVG > S,Upon input, the formula for calculating the number of C tokens minted is as follows:

10x=ļ¼ˆSāˆ’S/AVGāˆ—Sļ¼‰āˆ—Q10x=ļ¼ˆS-S/AVG*Sļ¼‰*Q

When the pool's AVG ā‰¤ S, or AVG = 0,The number of 10x tokens minted upon input is zero.

E.g. If the average price (AVG) of the ETH Pool is $3,000 and the ETH price drops to $2,000 (Spot Price), User A deposits 1 ETH. Since AVG > S, User A can mint approximately: 2000 * 1 * (1 - 2000 / 3000) = 667 10x tokens (decimals omitted).

If the average price (AVG) of the ETH Pool is $3,000 and the ETH price rises to $4,000 (Spot Price), User A deposits 1 ETH. Since AVG < S, User A will not mint any 10x tokens.

10x Token Features

  • Ownership of Future Appreciation.

Users holding 10x tokens own the rights to the future appreciation of the pool's assets. When the Spot Price exceeds the pool's Avg Price, the pool's assets generate appreciation, and 10x token holders will receive corresponding returns. They can choose to settle their earnings at any time.

  • Flexible, non-liquidating, and auto-leveraging asset characteristics.

As shown in the above chart, we compare 10x tokens with two common investment methods in the crypto market: futures and spot trading. The chart demonstrates that 10x tokens offer returns close to ten times those of long futures, while the risk is only slightly higher than that of spot trading. All earnings in the Doubler pool come from the appreciation of assets achieved by reducing the pool's Avg Price.

Due to the support of underlying assets, the quantity of assets in the pool remains unchanged regardless of price fluctuations, fundamentally different from the speculative logic of futures derivatives. Therefore, holding 10x tokens allows users to enjoy nearly 10x leverage returns but only bear risks slightly higher than spot market volatility.

  • As shown in the chart above, 10x tokens exist in two states.

when the Avg Price is higher than the Spot Price, 10x tokens have only expected value.

When the Spot Price is higher than the Avg Price, the pool generates profits, and 10x tokens gain actual value.

This is similar to at-the-money and out-of-the-money options in the options market, where the critical point is the strike price. For 10x tokens, the critical point that distinguishes actual value from expected value is the Avg Price.

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