Dymmax update: DMX Live price, price chart, news and markets

What Is Dymmax Protocol (DMX)?

Dymmax is an innovative protocol that aims to establish a decentralized platform for options emission and secondary circulation. Dymmax is built on a well-researched parimutuel model, which enables the issuance of options without a seller. Buyers of different option types (PUT, CALL, IRONFLY) come together to form a joint bank that guarantees sufficient funds for expiration payments. The price of each option type is calculated off-chain to ensure maximum auction efficiency. All matched orders are tokenized as ERC-20 tokens, facilitating trading on the secondary market. New at-the-money options with the same expiration day are issued daily to supplement the existing supply and enhance liquidity.

DMX serves as the native utility token for various purposes, including:

• Enhancing Cashback from trading commissions
• Voting for new options
• Voting on DYMMAX development paths
• Staking to participate in the liquidity pools

Dymmax Protocol (DMX) Coins in Circulation

The initial distribution of DMX was carried out through two rounds of IEO on Probit exchanges, and public trading began on December 25, 2020. During the IEO, 500k tokens were sold, while 1.6M tokens are reserved for future use. Additionally, 700k tokens have been allocated for community airdrops and will be released within one year. Users participating in DMX staking will receive 25k tokens per month, and 3M tokens will be used for protocol development over a period of 5 years. The total supply of DMX is 10M tokens, but 15% of the total supply will be gradually burned.

Founders of Dymmax Protocol

Dymmax Protocol was initially conceived by Dmitry Filyaev, a seasoned developer in the field of Dapp and derivatives trading. The idea was further validated by Dmitry Meshkov, a researcher who joined the project as an advisor. Before the start of the IEO, the team was complemented by Tatiana Maksimenko, an editor in various crypto-related media outlets and co-founder of IdolMe PR Agency.

Where to Buy Dymmax Protocol (DMX)?

DMX can be traded on an increasing number of exchanges, with options for cryptocurrency and stable-coin pairs currently available.