INTRODUCING GMX SSOV
Dopex is happy to announce the 5th project on the Dopex Options Platform - GMX.
Dopex will open a GMX Single-Staking Options Vault on Arbitrum
- Users will be able to deposit their GMX in the Vault
- The SSOV will stake the tokens in the GMX staking contract to earn platform fees in ETH
- Users will write call options to buyers at fixed strikes that they select for end-of-month expiries to earn an additional yield
Dopex GMX SSOV Deposits will be open 16 Jan, at 18:00 UTC and will close 72 hours later. Call purchasing will begin immediately after. The GMX SSOV Epoch will run from the time deposits close until 8:00 UTC 28 January 2022.
Note: The deposits will be open only for a few days, afterwards the trading will commence
GMX SSOV Details:
- Token Name: GMX
- Total Token Supply: 13,250,000 GMX
- Deposit Window: Jan 16, 18:00 UTC - Jan 19, 18:00 UTC
- Epoch Length: Jan 19, 18:00 UTC - Jan 28, 8:00 UTC
What is GMX?
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades.
Trading is supported by a unique multi-asset pool that earns liquidity providers fees from market making, swap fees, leverage trading (spreads, funding fees & liquidations) and asset rebalancing.
What is SSOV?
Similar to single staking vaults, SSOV allows 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.
To learn more about GMX:
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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