September 7, 2021


Dopex SSOV Testnet

SSOV
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We are proud to announce the official launch of DPX Single Staking Option Vaults on the Dopex Testnet (Kovan Network).

Decentralized Options Exchange | Dopex

Dopex is a maximum liquidity and minimal exposure options protocol.

ssov.dopex.io

What are SSOVs?

Similar to single staking vaults, SSOVs allow users to lock up tokens for a specified period of time and earn yield on their staked assets. Users will be able to deposit assets into a contract which then sells your deposits as call options to buyers at fixed strikes that they select for end-of-month expiries. SSOV options are either at the money, out of the money, or far out of the money.

How do they work?

  • Prior to the beginning of a new epoch, strikes are set for the month-end.
  • Users lock assets into this vault and select fixed strikes that they would like to sell calls at.
  • The contract deposits the users’ tokens into a single staking pool for farming rewards and also earns yield from selling covered calls.

In essence, users will be selling covered calls at low risk with no need for intensive knowledge on option Greeks.

Find out more about SSOV by following the link below:

DPX Single Staking Option Vaults

SSOV will be a catalyst to onboard >500m TVL into Dopex on just L1 by incentivizing non-$DPX farms with additional…

blog.dopex.io

Instructions

📌Switching to the Kovan Test Network

Switch “Kovan Test Network” in your Metamask

📌How to obtain Kovan Testnet ETH (KETH)

Visit the Kovan faucet: https://faucet.kovan.network/

*NOTE: You need to have a GitHub account. If you don’t you will have to create one

2. Enter your Metamask wallet address and click send me KETH

3. Receive your KETH

Make sure you are on the Kovan Testnet Network in your Metamask Wallet

Dopex Testnet

Navigate to the Dopex Testnet using the link below:

Decentralized Options Exchange | Dopex

Dopex is a maximum liquidity and minimal exposure options protocol.

ssov.dopex.io

📌 Minting DPX

Users can use the faucet to mint 100 DPX tokens.

Once you have minted you should have 100 DPX tokens available in your wallet.

📌 Depositing

Next, you need to navigate to the “Vault” page and select deposit.

This will take you to a new page where you can manage your vault.

On this page, you will be able to select strike prices, deposit, and withdraw.

📌 Selecting strikes

At the beginning of each epoch, there will be fixed strikes that users will be able to select strikes for.

Once you select the strike/strikes you want, enter the value of DPX you would like to deposit for each (if you have selected more than one).

Once you have done this you will have to approve your tokens for spending by signing the transaction in your wallet and then you can proceed to select deposit and again sign the transaction in your wallet.

Once your transactions have been approved, you have successfully deposited into the vault and you will be able to manage your deposits.

🚨 Key To Note

  • We will bootstrap the vault 8 hours from now.
  • Until then deposits will be open but purchasing will be closed.
  • Deposits can be made for different strikes.
  • Depending on the epoch, users will have to lock their deposits (stake) for 28/35 days.

🦠 Bug Reporting

As usual, if you spot any bugs, make sure to report them in the relevant channels in the Dopex Discord Server. Severe bugs will be rewarded.

If you have any further questions, feel free to ask in the Offical Dopex Discord Server.

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.

📱Stay Connected

Follow our official social media accounts and visit our website to stay up to date with everything Dopex.

Twitter | Discord | Website

🚨IMPORTANT

Be careful of fake Telegram groups, Discord servers and Twitter accounts trying to impersonate Dopex.

Always verify that you are on our official Discord server, Twitter page, or website.


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