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rDPX v2: Commitment to Transparency and Progress
Dear community,
We want to provide you with an important update and address recent concerns regarding the rDPX v2 rollout.
Clarification about V2 Mechanism
We want to emphasize that the V2 mechanism is strong and was built to withstand any market condition and that’s what it did, without any identified security or protocol issues. This is evident from the fact that, despite $rDPX losing over 75% of its value, the rtETH/WETH ratio remains healthy at 1.025 (90.6% in eth and 11.9% in rdpx). Our ongoing commitment to a robust and secure system is reflected in the following key statistics from the rDPX v2 rollout so far.
rDPX Stats:
- rDPX burned so far: ~40,000 rDPX tokens
- rDPX cumulative sell taxes: 18924 rDpx
- rtETH peg: ~1.025
- Perp put TVL : ~650k
- rtETH staked so far: ~1,687
- More than 1.5% of the $rDPX supply has been burnt forever
- rtETH is an LSD offering close to three digit yields that the market hasn't taken notice of
Source for some of the stats : https://dune.com/dknugo/dopex-rdpx
$rDPX Volatility We understand that the recent price action has been concerning. We want to assure you that these fluctuations have not been caused by any protocol exploit or false claims of insider trading. We remain fully committed to ensuring the security of our protocol and maintaining transparency in our operations, regardless of the circumstances.
Merge discussion
On December 2nd, our team actively sought community feedback on a hypothetical merge of the $DPX and $rDPX tokens. We now realize that floating this idea, especially amid significant price fluctuations, was premature and has caused concern within the community on our Discord. We acknowledge that bringing up such a significant fundamental change at this early stage was not a wise decision. We take responsibility for this mistake and would like to apologize for any frustration or panic it may have caused.
To be clear, as of now, we have no plans to merge the two tokens in our ecosystem.
Going forward We acknowledge that our communication, including timely updating our documentation, was not as thorough and clear as it should have been during the rDPX v2 rollout. This has been a learning experience for us. Moving forward, we are committed to improving our communication processes. This extends to: making sure of up-to-date documentation, establishing checklists, and writing clear blog posts prior to changes/updates. Our goal is to ensure that our community is consistently and accurately informed about all critical updates and the rationale for it prior to their deployment.
What’s next? Our plan is to keep monitoring the v2 ecosystem as we are continuing to bring out the pending features and integrations of our roadmap. Your trust and support in Dopex are invaluable to us. We promise to maintain transparency, improve our operations, and continuously adapt to serve you (our community) better. Should you still have any questions, concerns or ideas please feel free to voice them in our Discord.
Thank you for your continued support,
The Dopex Team
About 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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