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What is Dopex?
Dopex is a decentralized protocol with the aim of maximizing liquidity for users, reducing risk and optimizing options profits as participants contribute liquidity to the protocol.
Dpx website: https://www.dopex.io/
Dopex products
Single Staking Options Vaults (SSOV)
Single Staking Options Vaults (SSOV) is Dopex’s flagship product, operating similarly to staking crypto assets. SSOV allows you to lock your assets for a certain period of time and earn interest on staking assets.
Single Staking Options Vaults (SSOV) on Dopex
Single Staking Options Vaults (SSOV) have similar functionality to DOV. However, the difference between them is that SSOV minimizes losses for option writers, while option buyers have deep access to liquidity at reasonable prices. The term of SSOV lasts for one month and during this time the option writer can deposit the asset and choose the strike price.
Options Liquidity Pools
One of the limitations of SSOV is that the option buyer cannot cancel the option during the term but must wait until the term expires to pay. Therefore, Options Liquidity Pools are built on top of SSOV and act as a secondary market for Dopex options contracts.
Options Liquidity Pools
Options Liquidity Pools allow liquidity providers to choose the discount rate at which option holders can sell their options at any time. Liquidity providers benefit from discounted options, and option holders benefit from selling options before expiration.
Related: What is Tron Blockchain?
Atlantic Options
Atlantic Options is a fixed-term options product that allows option buyers to borrow collateral from the option creator or seller to deposit for a certain fee.
Atlantic Options
Collateral borrowing is controlled through Dopex Atlantic contracts, meaning assets can only be used for pre-specified situations. This allows direct integration with DeFi protocols like GMX to protect highly leveraged traders from liquidation.
Highlights of Dopex
Dopex has options pools that allow users to earn passive profits by providing assets and liquidity to other users with buying needs.
Option pools
Any user can earn profits through participating in the option pool, each quarter participants will receive profits such as insurance premiums, DPX reward tokens as an incentive from the project. . Partly also to promote liquidity in the protocol.
Of course, those who deposit money into this pool also receive DPX bonus tokens at the initial stage to encourage usage, each quarter users can decide to continue participating or withdraw their assets at any time. (However, you will be charged a penalty fee of about 1% when withdrawing money if you do not use it.
DPX rewards will be divided into 2 types:
Function call rewards: Distributed to reward users for costs burned in necessary activities (function calls).
Action rewards: Distributed to those who contribute to creating liquidity in the Option pool or volume pool.
DPX tokens and Tokenomics
Basic information
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Token name: Dopex Token
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Ticker: DPX
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Blockchain: Arbitrum
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Token Standard: ERC-20
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Contract: 0xeec2be5c91ae7f8a338e1e5f3b5de49d07afdc81
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Token Type: Utility, Governance
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Total Supply: 500,000 DPX
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Circulating Supply: 247,003 DPX
DPX Token Use Case
DPX is the native token of Dopex and is applied as follows:
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Earn yield this is the inflation of DPX
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Earn protocol fees.
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Voting will be similar to what Curve has deployed, in Dopex’s platform there will be many different Option Pools + DPX still has abundant supply to deploy Liquidity Mining + Arbitrum’s incentive in the future. So veDPX holders can vote to see which pool receives the most incentives.
DPX Token Allocation
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Treasury: 33.65%
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Farming: 18.78%
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Founders: 15.02%
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Early investors: 13.9%
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Token sale: 18.76%
Token Allocation
DPX Token Vesting Schedule
DPX token unlocking time will be as follows:
Token vesting schedule
It is expected that the DOPEX token will be fully unlocked by 2029
Buy and store DPX tokens
Currently, investors can trade DPX tokens at:
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CEX exchanges: KuCoin, Bybit, Bitget, MEXC, BingX
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DEX: Uniswap (V3) (Arbitrum), SushiSwap (Arbitrum), Camelot, OpenOcean, Trader Joe V2 (Arbitrum)
DPX is a token with ERC-20 standard so investors can store it on wallets such as: MetaMask, Trust Wallet, Coin98 Wallet,… To facilitate transactions, investors can also store DPX on the wallets of exchanges that list this token
Development Team
Dopex’s development team is mostly Anon teams like TzTok-Chad and witherblock.eth.
Investors & Partners
Investor and partner
Most recently, DOPEX received a Grant from Arbitrum Foundation with an amount of 1.2M on October 13, 2023.
Roadmap
Roadmap
Conclude
Through the above overview article about the Dopex (DPX) project, we hope readers will grasp basic information about this project to make their own investment decisions. Wishing you a successful investment!
