Dopex is a decentralized options protocol that targets liquidity maximization while minimizing losses for option writers and maximizing gains for option buyers. Dopex offers a simple and easy-to-use platform, meaning that anyone can participate in an option pool. Users can deposit base/quote for their respective pools, earn passive income by writing and purchase discounted options through liquidity pools.

Moreover, option writers benefit from a rebate system for losses based on the exercised options for every monthly or weekly epoch. Rebates are calculated based on percentage losses incurred by options writers during a weekly epoch and then paid in the protocol’s rebate token rDPX. Option pool participants receive a percentage of rPDX relative to their value of losses. Using this rebate system, options writers benefit from a higher return than they would have from hedging strategies.

Dopex was founded in the spring 2021 and is run by an anonymous group of developers. Although the size and makeup of the team remains unclear, several team members can be identified via their Twitter accounts:

• TzTok-Chad (senior developer)
• Casio (product)
• Witherblock (developer)
• Halko (probably also developer)
• Hakho (UI)
• Psytama (developer)

The project also enjoys the backing of several pseudonymous, well-known whales from Crypto Twitter, such as Tetranode, DefiGod, and DCV Capital, a proclaimed collective of angel investors. Dopex stresses that it is not supported by VC funds and has no interest in cooperating with them.

Options on Dopex are designed to mirror Deribit, the market leader in cryptocurrency options. Dopex offers European style options, meaning they can only be exercised at expiry. Options are fully backed by collateral either in the base asset (currently ETH and BTC) or the quote asset (USDT is used for settlement). They are issued as ERC-20 tokens and can be purchased from the Dopex Options AMM. This enables buyers to exchange them on any other AMM like Uniswap or SushiSwap, or potentially trade them over the counter and on centralized exchanges.

Dopex uses “epochs” for accounting assets, option flows, and reward/rebate distribution of the DPX token as incentives for providing liquidity to the platform. Options have either weekly or monthly epochs. Options pools are permissionless, and anyone can become a liquidity provider and add options by adding base or quote assets to the pools. Liquidity providers can withdraw their liquidity at the end of an epoch. This allows LPs to earn passive yield with minimal interaction with the protocol while collecting rebates if the written options were not profitable. Moreover, options writers benefit from liquidity rewards in the bootstrapping phase of the protocol. Therefore, in contrast to traditional centralized options exchanges, users don’t have to look for liquid markets to provide liquidity manually, but can do so in an automated and simplified manner.

Buyers can swap their options for a different expiry and/or strike price and benefit from volume pools, allowing them to deposit funds before weekly global epochs. Moreover, buyers can use funds from the pool to purchase options from any option pool at a 5% discount. This allows for the creation of sophisticated option hedging strategies. In addition, Single Staking Options Vaults permits users to stake their DPX and rDPX while simultaneously selling them as call options to buyers. DPX holders can, thus, continue earning yield on their tokens and utilize them as productive assets.

The total supply of DPX is 500,000. DPX is the protocol’s governance token used for voting on protocol and app-level proposals, which also accrues fees and revenues from pools, vaults, and wrappers built on the protocol. DPX is distributed as follows:

• Operational allocation (17%): distributed over five years. Governance community development, platform upgrades, operational costs.
• Liquidity mining (15%): distributed over two years.
• Platform rewards (30%): distributed over five years, incentivizing the use and maintenance of the protocol.
• Team (12%): 20% staked in liquidity pools, 80% vested for two years.
• Early investors and token sale (26%): 11% to early investors vested over six months, 15% to token sale.

Dopex launched on Arbitrum, a layer-two scaling solution of Ethereum that utilizes optimistic rollups. Optimistic Rollups (ORs) can trustlessly record transactions on the second-layer blockchain and broadcast periodic merkle roots of the transactions to the first-layer blockchain. External validators verify these merkle roots, which delays withdrawing funds from layer-twos running on optimistic rollups (usually by one week).

DPX is available on Uniswap (V2) and SushiSwap.

The all-time high of DPX was 0 USD on 1970-01-01, from which the coin is now down 0%. The all-time high price of Dopex (DPX) is 0. The current price of DPX is down 0% from its all-time high.

As of , there is currently 0 DPX in circulation. DPX has a maximum supply of 500,000.00.

The current market cap of DPX is 0. It is calculated by multiplying the current supply of DPX by its real-time market price of 12.27.

The all-time low of DPX was 0 , from which the coin is now up 0%. The all-time low price of Dopex (DPX) is 0. The current price of DPX is up 0% from its all-time low.

Dopex (DPX) has a market capitalization of $0 and is ranked #9511 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Dopex (DPX) price trends and patterns to find the best time to purchase DPX.