Dopex(DPX) Project Analysis-CoinW Institute

2 min readDec 13, 2022

Dopex(DPX) Project Analysis

1.Institute Short Review

Dopex belongs to one of the leading DeFi projects on the Layer 2 track Arbitrum, and has a relatively high chain lock-up capital compared to similar projects. In addition to this, Dopex uses Black-Scholes to determine option prices and unlike other protocols, its representation of holding pledged DPX is achieved through a platform representative to replicate true supply and demand as well as fair pricing to provide a fair option price for both buyers and sellers. Initially, the platform representatives are the five largest derivatives trading firms in the crypto space. In addition, the protocol’s rebate token, rDPX, has been issued and the rebate is calculated based on the percentage of dollar losses incurred by the option seller, with a percentage of rDPX being minted and allocated to option pool participants relative to the losses incurred, ensuring a higher return compared to writing naked options. The overall mechanism of the project is well designed and the current token price is relatively fair.

2. Recent breakout points

Layer 2, Arbitrum

3. Project Introduction

Dopex is a decentralized option protocol that focuses on maximizing liquidity, minimizing losses for the option seller, maximizing returns for the option buyer, and completing all of these procedures in a passive manner. Currently, Dopex has launched the first IRP Vault, namely the MIM3CRV Interest Rate Vault, which allows users to place bets or hedges on interest rates.

4. Token role

Users can lock DPX, get veDPX and get DPX token rewards, and token holders have the right to govern.

5. Token allocation

The total number of tokens is 500000, and the specific allocation is as follows.

Project Operation 17%

Liquidity mining 15%

Platform reward 30%

Team 12%

Early stage investors 11%

Token Sales 15%

6. Investment Institutions

Investors include: Orthogonal Trading, Ledger Prime, Orca Traders, Pattern Research and SCC Investments, etc.

7.Project Outlook

In 2020 DEFI brought derivatives to the chain and on-chain options began to sprout. Along with the expanding crypto trading market, on-chain options have much room for future growth. In addition, as one of the leading DeFi projects in the Arbitrum ecology, it is expected to achieve further growth with the growing development of Arbitrum in the future. From the current lock-up capital of Dopex, although the lock-up capital is already large compared to other option projects, there is still a lot of room for future growth compared to the entire DeFi market.