Dymmax DMX

Dymmax is a novel protocol aiming to build a decentralized platform for options emission and secondary circulation. Dymmax is based on a well-studied parimutuel model, allowing to issue options without a seller. Buyers of various option types (PUT, CALL, IRONFLY) form a joint bank, which is guaranteed to be sufficient for expiration payments. The price of every option type is calculated off-chain when all bets are done for maximum auction efficiency. All matched orders are tokenized in the form of ERC-20 tokens, providing a way for the secondary market. New at-the-money optionsсобе with the same expiration day are issued every day, supplementing existing supply and increasing liquidity. Dymmax Protocol is originally the brainchild of Dmitry Filyaev, who has extensive experience in Dapp development and derivatives trading. The idea was later validated by researcher Dmitry Meshkov, who has joined the project in the adviser role.