Dopex Price

What Is Dopex (DPX)?

Dopex is short for Decentralized Options Exchange. It’s a decentralized options protocol for buyers and sellers to participate in the options pool. The protocol aims to maximize liquidity and returns for option buyers and sellers. On the Dopex platform, you can stake crypto in liquidity pools, earn passive income by writing options or purchase discounted options through the liquidity pools. 

Option writers on the platform can also benefit from the rebate system for the exercised options based on the percentage loss. Dopex runs on Arbitrum, a Layer 2 scaling solution for Ethereum, and uses a dual token model to facilitate exchanges that include both DPX and rDPX tokens.

Who Is the Team Behind Dopex?

Dopex has an anonymous team of developers. However, though their real-world names might not be known, they’re very active within the DeFi community. The senior developers go by the handles @tztokchad and @witherblock, and each has spent a lot of time discussing the project with users and participating in other crypto and DeFi concepts.

Dopex also has some impressive investors. Several legendary crypto "whales" are providing backing for the project. Investors include @Tetranode and @DeFiGOD. Dopex has repeatedly emphasized that they do not want to take any venture capitalist funds, but they have some backing from the DCV Capital of angel investors.

What Are DPX Coins Used For?

DPX coins are the governance tokens for the Dopex platform. Users who have Dopex crypto can vote on a variety of matters, including:

• Option chain strike thresholds

• Rewards for liquidity pools

• Rebate amounts for losses in pools

• Price multiplier fallbacks

• Removal of delegates

Apart from its utility, DPX accrues fees and revenue from the options pool, vaults, and wrappers built over the Dopex protocol. 

In contrast, rDPX is a rebate token minted and distributed for option writers. In case of a loss, the rDPX will be issued to these pool participants as an incentive. The number of minted tokens is determined based on the net value losses incurred at the end of a pool's epoch (usually weekly or monthly). 

What Makes Dopex Unique?

Dopex stands out for its use of European-style options. This method of trading options means that you can only exercise the option when it actually expires. All options are initially backed by ETH, BTC or USDT, and are issued as ERC-20 tokens. Any interested user can become a liquidity provider by adding options to pools, but they can only withdraw their funds after a set amount of time, which Dopex calls an epoch, has passed. Once the options are issued, users can buy and sell them on both Dopex and centralized exchanges.

Unlike many other options exchange networks, Dopex promises to minimize losses for option writers who lose out on their calls. Dopex uses rDPX tokens to rebate all option losses. The protocol also claims to reduce overall losses with yield farming and other strategies.

Since the options pool is permissionless, anyone can be a liquidity provider and add options to the pool. LPs who have contributed to the pool can also earn passive yields and collect rebates if written options hit a setback. 

How Many Dopex (DPX) Coins Are in Circulation?

DPX coins have a total supply of 500,000. There are over 240,000 DPX in circulation now. These coins are allocated into five separate categories:

• Platform rewards: 30% of the DPX will be used to reward platform participants for maintaining the integrity of the platform ecosystem. 

• Investor compensation and fundraising: 26% of DPX is distributed in two subcategories of investors: 11% will be used to incentivize investors vested in DPX over six months, and the remaining 15% for token sales. 

• Operational and processes: 17% of DPX coins from the total supply will be distributed over the next five years, starting from its initial launch date. 

• Liquidity mining: 15% of DPX will be distributed to miners and LPs over two years. 

• Team salaries: 12% is to be distributed to the platform's developers, marketers and executives, which keeps the protocol functioning. 

Dopex Price and Tokenomics

As of March 2023, the current DPX coin price is $349. This price is significantly lower than the token's all-time high of $4,219, but it’s still a promising protocol and platform with products that add value to investors. DPX had a very sharp peak during its launch period when investors became excited about the Dopex project, but the Dopex crypto price stabilized once the buzz calmed down.

After the overvalued coin's value stabilized around May 2022, it maintained a steady price of $200 to $500. As a governance token with a limited supply, DPX has a lot of inherent value. This has allowed it to retain its price following a period of wild speculation and volatility in late 2022.

Learn more: Dopex (DPX): Simplifying your Options Trading

How to Buy Dopex (DPX) on Bybit Spot

If you're interested in investing in DPX, you'll be excited to hear that it's available on Bybit. The Bybit platform makes it convenient and quick to purchase DPX, and track the DPX coin price. All you need to do is follow these steps.

1. Sign up or log in to your Bybit account.

2. Visit the Bybit exchange on your phone or computer and search for DPX/USDT on Bybit Spot Trading Market.

3. Click on the Buy button and enter the amount of DPX you wish to buy.

4. Choose your preferred payment method and verify your account to complete the purchase.

5. (Optional) If desired, stake your tokens to earn interest and sign up for the DPX prize pool.