dymmax logo download PNG or SVG

Information about dymmax

Dymmax is an innovative protocol that aims to create a decentralized platform for the issuance and trading of options. It utilizes a well-studied parimutuel model, which allows options to be created without the need for a seller. Buyers of different types of options (such as PUT, CALL, IRONFLY) come together to form a collective pool of funds, ensuring that there are enough resources to cover expiration payments. The price of each option is determined off-chain to maximize the efficiency of the auction process. When orders are matched, they are tokenized as ERC-20 tokens, enabling trading on the secondary market. Additionally, new options with the same expiration date are issued daily to supplement the existing supply and enhance liquidity. DMX serves as the utility token native to the platform, serving various purposes such as increasing cashback from trading commissions, voting for new options, voting on DYMMAX's development direction, and participating in liquidity pools through staking.

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