The Crypto Volatility Index (CVI) will be integrated with zkSync. This makes CVI the first derivatives project to integrate into the zkSync ecosystem.
The Crypto Volatility Index (CVI) announced on Wednesday its integration with zkSync. ZkSync is an Ethereum protocol for scalable payments that is trustless. It is a leading Ethereum scaling solution that combines zero-knowledge proofs and on-chain data availability to protect users’ assets via its zkRollup technology. The CVI will be the first derivatives project in the zkSync ecosystem as a result of this integration.
We are happy to announce the new integration of CVI with @zksync ⚡
ZKsync is an EVM compatible, Zero-knowledge proof technology with lower fees, faster speed, and maximum security
— Crypto Volatility Index (CVI) (@official_CVI) March 23, 2022
What is Crypto Volatility Index (CVI)?
The CVI is a decentralized index that forecasts the volatility of crypto assets in the future. One of the creators of the protocol is Dan Galai, one of the creators of the $VIX. It is the Wall Street fear index. The CVI has processed over $130 million in transaction volume and distributed over $1 million in platform fees to their community since its start in 2019.
People can get the same market insights as those who look at traditional markets by using the VIX:
- Recognize the market’s expected volatility
- Create trading methods for quick profits
- Protect their portfolio from price fluctuations
CVI uses a permissionless, open-source protocol with a decentralized governance component. Any user can contribute to the network’s development.
The $GOVI token is an ERC-20 token that serves as the protocol and platform’s governance token. 85 percent of platform fees will be collected and used to buy $GOVI tokens on the open market. It will reduce token supply. These $GOVI tokens will then be transferred to CVI ecosystem members in the form of open positions and staking rewards, such as:
- CVI traders
- liquidity providers
- $GOVI stakers
You can buy $GOVI on centralized exchanges: Kucoin and Gate.io. Also, you can buy it on DEX, Uniswap, Sushiswap, and QuickSwap.
How to make a profit with the CVI platform
There are different ways to make a profit on the CVI platform. Here are some ways:
- You can open a long position in CVI
You can be make profit in volatile markets, whether prices are rising or falling. Because of the volatility index, if you anticipate a large-scale shock or flash dump in the market, you can open a long position and make a profit
If you’re not a good trader, be a holder instead. You can keep the $Govi token and receive a portion of platform fees. Also, you can stake LP token and get 63% APY
- Trading CVI and providing liquidity
You can buy volatility tokens on secondary markets or DEXs instead of opening a trading position in the AMM platform. Similar concept: profit from a fluctuating market by selling at the right time. Also, you can create a token pair between volatility token and USDC to earn a greater APY than regular staking.
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