Dymmax Protocol (DMX) is a decentralized platform for options emission and secondary circulation. It utilizes a well-studied parimutuel model, allowing the issuance of options without a seller. Buyers of various option types (PUT, CALL, IRONFLY) form a joint bank, ensuring sufficient funds for expiration payments. The price of each option type is calculated off-chain for maximum auction efficiency. Matched orders are tokenized as ERC-20 tokens, enabling secondary market trading. New at-the-money options with the same expiration day are issued daily, increasing liquidity.

DMX is the native utility token used for:

• Increasing Cashback from trading commissions
• Voting for new options
• Voting on DYMMAX development paths
• Staking to participate in liquidity pools

During the initial distribution, 500k DMX tokens were sold through two rounds of IEO on Probit exchanges. Additionally, 1.6M tokens are reserved for future use, 700k tokens are allocated for community airdrops within one year, and 25k tokens per month will be distributed to users participating in DMX staking. Furthermore, 3M tokens will be used to fund protocol development over five years. The total supply of DMX coins is 10M, but 15% of the total supply will be burned gradually.

Dymmax Protocol was initially conceived by Dmitry Filyaev, an experienced developer in Dapp and derivatives trading. Dmitry Meshkov, a researcher, later joined the project as an advisor, validating the idea. Prior to the IEO, Tatiana Maksimenko, an editor in multiple crypto-related media and co-founder of IdolMe PR Agency, joined the team.

DMX is available for trading on several exchanges, with cryptocurrency and stable-coin pairs currently supported.

The Dymmax Protocol (DMX) is a novel protocol designed to create a decentralized platform for options emission and secondary circulation. It is based on a well-studied parimutuel model, which enables the issuance of options without a seller. Buyers of various option types, such as PUT, CALL, and IRONFLY, collectively form a joint bank that ensures sufficient funds for expiration payments. The price of each option type is calculated off-chain to maximize auction efficiency. Matched orders are tokenized as ERC-20 tokens, facilitating trading on the secondary market. New at-the-money options with the same expiration day are issued daily to increase liquidity and supplement the existing supply.

The native utility token of the Dymmax Protocol is called DMX. It is used for various purposes, including:

• Increasing Cashback from trading commissions
• Voting for new options
• Voting on DYMMAX development paths
• Staking to participate in the liquidity pools

The initial distribution of DMX was conducted through two rounds of IEO on Probit exchanges, with public trades commencing on December 25, 2020. A total of 500k tokens were sold, while 1.6M tokens are reserved for future use. Additionally, 700k tokens are allocated for community airdrops to be released within one year. Monthly distributions of 25k tokens will be made to users participating in DMX staking, and 3M tokens will be utilized for protocol development over a five-year period. The total supply of DMX is 10M tokens, but 15% of the total supply will be gradually burned over time.

The Dymmax Protocol was initially conceived by Dmitry Filyaev, an experienced Dapp developer and derivatives trader. The idea was further validated by Dmitry Meshkov, a researcher who joined the project in an advisory role. Prior to the start of the IEO, the team was augmented by Tatiana Maksimenko, an editor in multiple crypto-related media outlets and the co-founder of IdolMe PR Agency.

The DMX token is available for trading on an increasing number of exchanges, with cryptocurrency and stablecoin pairs currently supported.