July 3, 2022
This month in Dopex - JuneNewsletter
Gmnueenis Dopefam! 🌞
This Month in Dopex is back and we’re giving you a quick rundown on the most important news, events, happenings in Dopex for the past month of June.
1. Successful lRO Vaults launch for MIM3CRV and pUSD3CRV
Despite the overall bear market, Dopex has released a new product called Interest Rate Options Vaults and these allow users to write and buy calls and puts on expected interest rates of stablecoin pools on curve starting with MIM3CRV and pUSD3CRV.
At some point, we reached a notional value of $500 M as users were able to use the application without any problems. All contacts worked as expected and the user interface was as smooth as possible.
The release of IROs was definitely a big step for Dopex as it was intended to be a product built on top of Curve, one of the most respected protocols in the DeFi space right now. With that said, it has many use cases not only for individual users but to DAOs or organizations looking to bribe interest rates and gain liquidity on their selected pool of choice. Our very own Saitama explains this strategy in this very informative article here.
Visit the app: https://app.dopex.io/vaults/ir
*If you want to learn more about IROs we have a variety of articles for you to choose from ranging from technical articles to easy explainers. *
2. Happy Birthday…. to us!
We officially turned 1 last June 24, 2022 and have launch multiple DeFi products catering to everyone in the space. From a few SSOVs, now we have IRO vaults, diamond pepes NFT, and most importantly veDPX. Safe to say that we have been building and will continue to do so in the coming years.
But of course, we couldn’t have done it without our awesome community members who make our community very special and lively. Just like what we had in the recently concluded birthday card competition, we received amazing submissions that literally made the team laugh.
Congratulations again to our winners, Riumodenton#9675, iamyou#2843, r4yme#3314, zekapeka#4782, PLZV_#4210, Flipwaan#8265, xCOOL#8304, A-Sizzlooor Softwood#7560, and yhigorrr#5199.
Please expect prizes to be sent to your address soon.
See their entries here****
3. veDPX is finally here!
The first step towards decentralization of Dopex comes with the official launch of vote escrowed DPX (veDPX). Users who stake their DPX for a specified number of years (the longer the higher multiplier) will receive veDPX, which grants governance rights, rights to a share of the protocol fees and boosted incentives within the Dopex Ecosystem.
As of the time of writing, approximately 20.5k DPX locked or approximately 6.94% of the whole DPX circulating supply of 295.8K. These tokens are locked for an average duration for 3.61 years! That’s quite a long period of time (more so for crypto) and it speaks to how committed our investors are to the project! From the wise words of the CEO, let's pump up those numbers, shall we?
Access the app here: https://app.dopex.io/governance/vedpx
To learn more about veDPX we have a lovely introductory article you can access here and for a complete guide on locking you can click here
4. Farm Migration
After a few hiccups, we have successfully migrated our farms to its new contracts.
So what’s new with our farms? This time our rewards will not be given in rDPX and DPX, but now it will transition to DPX only as we put an end to rDPX inflation and prepare for rDPX V2.
Also, only to farms will remain DPX/ETH and rDPX/ETH, and will have rewards of 30 and 22.5 DPX, respectively. These are 50% boosted from the intended reward rate.
All rewards from the old contract has been released as well. If you have any problems with it please send us a ticket on discord.
If you want to more learn about what went wrong with the migration read here
5. Diamond Pepes
CEO Nutoro and the board were up to no good once again.
A few days ago, Diamond Pepes Pty Ltd posted a sneak peak of the new hit single, Nu’s on the board. The full version will be released anytime soon, so watch out for announcements on our socials.
We also have the eleventh diamond pepes company report highlighting the activities of the board members. One thing’s for sure, the board has been actively enriching themselves with skills essential to the development of the company during times of bearish market sentiment.
Special mention to 12YAK who got the attention of the beautiful Irene Zhao. We hope your face is ready anytime Irene needs to take a seat.
Read the full article here
Dopex is a decentralized options protocol which 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.
Follow our official social media accounts and visit our website to stay up to date with everything Dopex. Twitter | Discord | Website
Be careful of fake Telegram groups, Discord servers and Twitter accounts trying to impersonate Dopex.****
← Back to Blog