January 11, 2022
Introducing BNB SSOV on the Dopex Options PlatformSSOV
Dopex is excited to announce the 4th project on the Dopex Options Platform - Binance Coin (BNB).
Dopex will list Binance Coin (BNB ) and will open a BNB Single-Staking Options Vault on Binance Smart Chain (BSC)
- Users will be able to deposit their BNB in the Vault
- The deposits will be placed in Venus.io to earn a base yield
- Users will write call options to buyers at fixed strikes that they select for end-of-month expiries to earn an additional yield
Dopex BNB SSOV Deposits will be open 13 Jan, at 17:00 UTC and will close 72 hours later. Call purchasing will begin immediately after. The BNB 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
BNB SSOV Details:
- Token Name: Binance Coin (BNB)
- Total Token Supply: 166,801,148 BNB
- Deposit Window: Jan 13, 17:00 UTC - Jan 16, 17:00 UTC
- Epoch Length: Jan 16, 17:00 UTC - Jan 28, 8:00 UTC
What is Binance coin (BNB)?
Binance Coin (BNB) is the cryptocurrency issued by Binance exchange and trades with the BNB symbol. As of January 2022, Binance Exchange is the largest cryptocurrency exchange in the world, supporting more than 1.4 million transactions per second. BNB is used as a rebate token for Binance users as well as a gas token to pay for transactions on Binance Smart Chain
What Is Binance Smart Chain?
Binance Smart Chain (BSC) is a blockchain network built for running smart contract-based applications. Binance Smart Chain implements the Ethereum Virtual Machine (EVM), which allows it to run Ethereum-based applications like MetaMask.
How to Get Started with Binance Smart Chain (BSC)
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 Binance Coin (BNB):
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses.
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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