DYMMAX (DMX)

ICO

IEO

Last updated: Dec 06, 2020

DYMMAX (Dynamic market making auctions and exchange) is a decentralized protocol for issuing options for cryptocurrencies based on the parimutuel betting with fixed odds pricing model with possible secondary circulation of issued contracts in the form of ERC20 tokens.

IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice.

Overview

Project industry	Finance Services & Banking
Product type	DApp
Founded	Russian Federation
Whitepaper	Open
Onepager	Open

What is DYMMAX

We present Dymmax, a novel protocol aiming to build a decentralized platform for options emission and secondary circulation.

Dymmax is based on a well-studied parimutuel model, allowing to issue options without a sellers. Buyers of various option types (PUT, CALL, IRONFLY) form a joint bank, which is guaranteed to be sufficient for expiration payments. The price of every option type is calculated off-chain when all bets are done for maximum auction efficiency.

All matched orders are tokenized in the form of ERC-20 tokens, providing a way for the secondary market. New at-the-money optionsсобе with the same expiration day are issued every day, supplementing existing supply and increasing liquidity.

Protocol’s step-by-step algorithm:

Series creation for an asset with expiration date

Activation of a 24-hour prolonged auction for limit orders

Determination of ATM strike and calculation of premiums with order execution

Issue of options on executed orders

Secondary circulation

Repayment from the aggregate money pool

Details

Pre-sales: Oct 01, 2020 - Oct 21, 2020
IEO (Probit Launchpad): Nov 19, 2020 - Dec 20, 2020
Pre-sale token supply: 1,500,000 DMX
Token supply: 10,000,000 DMX
Total tokens for sale: 2,100,000 DMX
Soft cap: 100,000 USD
Hard cap: 26,000,000 USD

Legal

Blockchain Platform: Ethereum

Token info

Ticker: DMX
Token standard: ERC20
Token price in USD: 1 DMX = 1.25 USD
Token distribution:
21% - Public sale
7% - Community airdrops
15% - Ecosystem & partners
15% - Seed sale
12% - Staking
30% - Foundation