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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.

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Project industryFinance Services & Banking
Product typeDApp
FoundedRussian Federation

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


    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

    DYMMAX Roadmap

    Q3 2020
  • Private round sale
  • 2
    Q4 2020
  • MVP release in Ropsten network
  • Crowdfunding campaign
  • Mainnet release with the first options series of ETH / USDT with 1, 2 and 3 months expiration
  • 3
    Q1 2021
  • Launch of market makers program
  • Tokenization of options
  • Launch of secondary circulation of tokens on existing decentralized exchanges
  • 4
    Q2 2021
  • Expanding the list of available instruments
  • 5
    Q3 2021
  • Launch of own decentralized exchange
  • Implementation of Dymmax protocol on top of other blockchains
  • Project team

    Dmitry Filyaev
    Dmitry Filyaev
    Dmitry Filyaev linkedin
    Mike Yeung
    Mike Yeung
    Head of Asia markets
    Mike Yeung linkedin
    Tatiana Maksimenko
    Tatiana Maksimenko
    Head of PR
    Tatiana Maksimenko facebook


    Dmitry Meshkov
    Dmitry Meshkov
    Dmitry Meshkov linkedin

    Social media


    User rating:

    5/5 ( 1 )

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