DiffEx (DFFX)

DiffEx (Differentials Exchange) is the first DeFi platform allowing for the creation and trade of options contracts for Ethereum tokens (ERC20), unlocking new value and hedging strategies for many ERC20 token holders.

Whitepaper

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What is DiffEx

DiffEx is a DApp (Decentralized Application) platform creating the ability for users to create, buy, sell, and execute options contracts for ERC20 tokens.

Each options contract is either a covered call, or an Ether secured put. Each contract also has a strike price (the price per underlying token paid on execution denominated in Ether) and expiry (block number after which the option cannot be executed). The DiffEx smart contract handles balances, option writing and execution, as well as order execution. When DiffEx is launched on the mainnet, the DFX token will be able to be staked in the contract for reduced platform fees, profit sharing, and platform upgrade voting.

The global options market for equities and currencies surpassed $1.3T in value in 2020. With the value of non-stablecoin ERC20 tokens totaling over $200 billion in market capitalization, a decentralized options protocol for this market doesn't yet exist. DiffEx aims to provide for this untapped market by creating a decentralized platform based on the Ethereum network that allows users to write, trade, and execute options on ERC20 tokens through a smart contract.

All DiffEx trades, balances, and options are managed trustlessly through an open-source smart contract running on the Ethereum network, providing peace of mind to traders and making exchange hacks a thing of the past. Order liquidity is maintained in distributed order books, kept secure by Ethereum’s ECDSA cryptography, creating resiliency and making fraud impossible.

DiffEx's network token, DFFX, will allow traders to stake for reduced platform trading fees and profit-sharing, providing a compelling value proposition as the platform gains users.