Dopex (DBX) is a decentralized options protocol that targets liquidity maximization while minimizing losses for option writers and maximizing gains for buyers. It has added 25% to its value today.
Look no farther than this guide for all the details: what it is, should you buy it now, and the top places to buy it.
Top places to buy Dopex now
As DPX is such a new asset, it's yet to be listed on major exchanges. You can still purchase DPX using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy DPX right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it's one of the world's leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It's also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You'll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the Uniswap DEX
Head to Uniswap, and 'connect' your wallet to it.
4. You can now swap your ETH for DPX
Now that you're connected, you'll be able to swap for 100s of coins including DPX.
What is Dopex?
This easy-to-use platform makes it possible for anyone to 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.
Option writers benefit from a rebate system for losses based on the exercised options for every monthly or weekly series. Rebates are calculated based on percentage losses incurred by options writers during a weekly series 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.
Should I buy it today?
Dopex shows promise, but it’s a relatively new asset. Exercise caution and study the market before making a commitment.
DPX price prediction
According to Tech News Leader, Dopex will go from its current price of $1,941 to $3,288 in 1 year. It will trade for $10,182 in 5 and for $69,214 in 10 years.
Dopex on social media
Market Cap: $316,197,242 / TVL: $55 million / Staked Value: $301 million
Unlike Ribbon, Dopex is both a marketplace and structure product platform (2 in 1).
— Micah Spruill (@micahspruill) February 8, 2022