- What is the GLX?
- Is it the same as Facebook’s cryptocurrency? Is it related to Facebook in any way?
- What is the exact composition of the GLX?
- How are the weights calculated?
- What makes the GLX stable?
- What are the advantages of the GLX?
- Which Blockchain are you using?
- How secure is the GLX?
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:
Q. What is the exact composition of the GLX?
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?
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.