Dopex is a decentralized options protocol on the Arbitrum network that offers maximum liquidity and minimal exposure to traders. In addition, the protocol also provides maximum gains to options buyers, letting participants that contribute liquidity enjoy passive income.

Dopex stands out from other DeFi protocols due to its unique offering - Single Staking Option Vaults (SSOVs), where users can lock up their tokens for a specific period and earn yields. SSOVs operate on the line of single staking vaults, but the deposited assets are then sold as CALL or PUT options to buyers at fixed strikes selected for different expiries.

The collateral put up by Dopex users is staked in other protocols to maximize yields earned. In addition, the platform also offers several other benefits that lower risk and losses for liquidity providers, better immediate arbitrage opportunities, more cost-effective collateral borrowing, and more.

DPX is one of two native tokens of the Dopex protocol, the other being rDPX. DPX has a limited supply and functions as a governance token, letting holders accrue fees and revenue from pools, vaults, and wrappers.

Dopex provides the following offerings to options traders in a decentralized manner on the popular Ethereum Layer-2 network, Arbitrum:

SSOV Options

SSOVs let users provide option liquidity through covered calls or cash-secured puts. This is an effective passive income generation strategy and an effective way to ensure high liquidity on the Dopex protocol.

Liquidity Pools

In addition to SSOVs, Dopex also offers deep liquidity via pools. This feature lets traders exit the market by selling their tokenized positions quickly and at discounted rates, maximizing their efficiencies.

Atlantic Options

This DeFi primitive helps improve collateral composability and efficiency by allowing buyers to borrow option collateral. This unique feature ensures higher usage and engagement on the platform.

Dopex was launched in May 2021 by a group of anonymous developers. It is backed by several pseudonymous crypto whales that have formed a self-proclaimed collective of angel investors to fund the project. As of March 2023, the Dopex protocol is not yet supported by VC funds, and its core team maintains that they wish to keep this strategy.

In Q4 2021, the developers added SSOVs, option pools, and OTC portal functionalities. In 2022, Dopex introduced option strategy vaults and insured stablecoin pools.

Other developments through 2022 include rDPXv2, Atlantic Options, the launch of the Jones DAO, upgrades to SSOVs, veDPX locking, integration of Chainlink Price Feeds, and more.

The platform introduced an SSOV for staked ETH (stETH) in January 2023, in addition to Option Liquidity Pools (OLPs). In February 2023, Dopex expanded beyond the Arbitrum ecosystem and launched on Polygon.

Dopex is an intriguing crypto asset to consider for your investment portfolio, particularly if you believe in the potential of decentralized finance (DeFi). With the growing DeFi market and the demand for advanced trading capabilities, Dopex has the potential to shine. As Dopex adds more products and services and expands into other blockchain ecosystems, the DPX price statistics could be positively impacted. These developments can increase liquidity and make Dopex more appealing to options traders, driving up the demand for the DPX token and supporting the price of Dopex crypto. Additionally, positive market sentiment toward cryptocurrencies can contribute to bullish moves in the DPX price, especially when the investor mood is risk-on and encourages buying activity in the crypto market.

It is impossible to offer an accurate DPX crypto price prediction over any duration. However, you can monitor key fundamentals to gain a better understanding of the price action and volatility in the DPX token:

Level of Use

As more traders sign up to use the Dopex platform for options trading, the demand for the DPX token could increase, potentially driving up its value.

Innovation in Use Cases

Introducing new use cases for the DPX cryptocurrency beyond a governance token can make it more attractive to buy and hold. This can encourage more users to invest in the token, driving up the price of Dopex coin.

New Features and Integrations

The DPX price can also strengthen when Dopex adds new products and services, announces new integrations, and expands to support more tokens or blockchain networks. These developments can enhance the protocol's efficiency and liquidity, supporting the price of Dopex crypto.

Market Outlook

A favorable market outlook toward digital assets, particularly DeFi, can significantly impact the DPX price. Bullish sentiment among crypto investors increases buying activity, which can drive up the value of Dopex.

DPX is one of the two native tokens of the Dopex protocol and serves the following purposes:

Governance Token

As the governance token, DPX enables token holders to vote on protocol and app-level proposals, supporting the decentralized governance mechanism of the platform.

Rewards

DPX accrues fees and revenue from Dopex pools, vaults, and wrappers built on the protocol. Platform rewards earned in DPX are distributed over approximately five years, incentivizing users to continue using and maintaining the platform.

Crypto Asset to Trade and HODL

Trade Dopex against other cryptocurrencies to profit from market conditions and volatility. You can buy or sell DPX against other crypto assets or hold it if you believe in the future potential of the Dopex protocol. Before trading Dopex, check the current price, market cap, circulating supply, and trading volume, and perform technical, sentiment, and fundamental analysis on the DPX price chart.

You can stake DPX while selling the tokens as call options to buyers on Dopex, earning a yield on your holdings and growing your portfolio. Here's how:

1. Visit the Dopex dApp and connect your wallet to its interface.

2. Ensure your wallet is funded with DPX and WETH tokens for the LP Farm offering. Buy DPX on BYDFi or other supported platforms and withdraw your tokens to your wallet. Obtain ETH from BYDFi and wrap it using a bridge to use on Dopex.

3. Go to the Stake tab of the Dopex app.

4. Select the DPX-WETH LP Farm option and click on Manage.

5. Enter the amount of DPX and WETH you want to add as liquidity to the protocol.

6. Confirm the transaction from your wallet.

7. Sit back, earn rewards, and grow your crypto portfolio by staking DPX on Dopex.

Dopex's investors are pseudonymous crypto whales whose information is only available through their Twitter handles. Notable investors include Tetranode, Demigod, and DCV Capital, forming a collective of angel investors in the protocol.

Other partners of Dopex include OrcaTraders, Pattern Research, DEBASE, David lach, Hardwood, and more.