Some of your Questions:

Q. What is the GLX?

The GLX is a digital currency linked to a currency basket of the 15 largest fiat currencies in the World and Gold.

Q. Is it the same as Facebook’s cryptocurrency? Is it related to Facebook in any way?

Our Currency Basket was first introduced in 2009 after several years of research, when Facebook was only launching the "like" button. Currently, the GLX stablecoin is already LIVE and listed on 3 Exchanges plus adding new use cases every month.

Although Facebook hasn’t yet revealed further details about their currency, we can already point out a few differences:

  • GLX can be used as a means of payment, but also as a store of value in the long term.
  • The GLX basket uses 15 fiat currencies and it also includes gold, which makes it the most diversified stablecoin today.
  • The GLX basket is global and inclusive: it represents both developed and emerging markets, covering 85% of the World’s economy.
  • We look forward to make GLX available in several Blockchains, not just one.
  • Q. What is the exact composition of the GLX?

  • 20.00% — Chinese Yuan
  • 19.84% — US Dollar
  • 14.96% — Euro
  • 10.06% — Indian Rupee
  • 5.45% — Japanese Yen
  • 5.00% — Gold
  • 4.04% — Russian Ruble
  • 3.38% — Indonesian Rupiah
  • 3.26% — Brazilian Real
  • 2.93% — English Pound
  • 2.49% — Mexican Peso
  • 2.24% — Turkish Lira
  • 2.07% — South Korean Won
  • 1.79% — Canadian Dollar
  • 1.28% — Australian Dollar
  • 1.21% — New Taiwan Dollar
  • Q. How are the weights calculated?

    In the GLX currency basket, the weights are calculated based on Gross Domestic Product (GDP) for each country, and adjusted by Purchasing Power Parity (PPP). The portfolio of the basket aims to capitalize on the market trend towards a globalized and multipolar world by leveraging smart algorithms using the GDP / PPP formula.

    Q. What makes the GLX stable?

    Diversification builds stability. By its very construction, the 16 separate components of the basket all have diverse patterns of when they strengthen, and when they weaken. If one currency inside the basket goes down, others can go up. As an example, the average volatility of the GLX over the past 5 years is 4.2% while the volatility of the British Pound against the USD is 8%.

    Q. What are the advantages of the GLX?

  • Diversification. It’s linked to 15 fiat currencies and gold.
  • Global. It represents the World Economy as it is today.
  • Stability. The basket really has proved to be more stable than the Swiss Franc.
  • Liquidity. It’s directly sourced from the underlying currencies in the super liquid global FX market.
  • It allows the user to stay in the crypto-space, but build a portfolio that minimises drawdowns.
  • The basket has already been tested and used by large, private clients for several years, so its stability and efficiency are already proven.
  • It is currency-neutral as a means of payment for P2P transfers across borders, across the world.
  • Q. Which Blockchain are you using?

    GLX is live on the Ethereum blockchain since 2018. However, we are currently working on making GLX available in other several blockchain networks.

    Q. How secure is the GLX?

    A transparent, auditable, and secure protocol will be provided. Communication and audits will be done on a regular basis. A prime auditing firm will have direct and full access to the company’s bank accounts, providing Proof of Reserves / Proof of Liabilities to the community on a regular basis, or on demand for a fee.