April 6, 2022
Introducing: Dopex OTC platformProduct
INTRODUCING: DOPEX OTC PLATFORM
Dopex is excited to announce the launch of the OTC Interface - a dedicated interface built on top of app.dopex.io - to facilitate the secondary market for option tokens as well as NFTs.
Dopex OTC allows users to create Request for Quote (RFQ) orders, negotiate prices using a chat function and settle transactions via an escrow contract.
The OTC interface is available on Arbitrum.
IMPORTANT: THE DOPEX OTC PLATFORM IS NOW IN THE LIVE BETA PHASE - SOME OF THE FUNCTIONALITIES WILL BE ROLLED OUT GRADUALLY
ℹ️ The OTC interface works as follows:
- The Platform can be accessed via app.dopex.io/otc
- Users can choose the assets they are interested in buying and selling and create a Request For Quote (RFQ)
- Other users can respond to the RFQ and place their offers or negotiate using a chat
- Once the trade details are confirmed, the parties may choose to go live with the transaction
- The party initiating the order will post the assets to an escrow contract
- The counterparty, once they accept the terms, will post their assets and the smart contract will settle the transaction both ways
- The platform can be used to exchange all Dopex option tokens as well as any whitelisted NFT collections
Example Use Case - “Options Trader”
An options trader has purchased a stack of options via Dopex SSOV with 2 weeks left till the expiry. As the market moved in the trader’s favor, the trader prefers to close out the position now instead of waiting for the option expiry. The trader navigates to the OTC platform, places an RFQ and sells the options to the highest bidder.
Example Use Case - “Hedger”
An entity is in an urgent need of hedging and they need options to do that. As the liquidity for the given token and strike on SSOV has been fully used, the entity goes to the OTC platform, submits an RFQ and collects offers from other traders.
Example Use Case - “Rare NFT collector”
Now a different example - not options related. A user is searching for very specific set of NFTs and wants to collect offers while also having the option to chat and negotiate - he then invites other NFT holders to the OTC platform, where they set the terms of the deal and settle via escrow.
If you have any other questions you can always hop onto our Discord and one of our team members or community can help you further: Discord.gg/dopex
Dopex is a decentralized options protocol that aims to maximize liquidity, minimize losses for option writers and maximize gains for option buyers — all in a passive manner.
Dopex uses option pools to allow anyone to earn a yield passively. Offering value to both option sellers and buyers by ensuring fair and optimized option prices across all strike prices and expiries. This is thanks to our own innovative and state-of-the-art option pricing model that replicates volatility smiles.
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Dopex reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
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