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:
DetailsPre-sales: Oct 01, 2020 - Oct 21, 2020
IEO (Probit Launchpad): Nov 19, 2020 - Nov 29, 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
LegalBlockchain Platform: Ethereum
Token infoTicker: DMX
Token standard: ERC20
Token price in USD: 1 DMX = 1.25 USD
21% - Public sale
7% - Community airdrops
15% - Ecosystem & partners
15% - Seed sale
12% - Staking
30% - Foundation