IEO for DYMMAX’s crypto-derivative platform kicks off on ProBit

On the South Korean cryptocurrency exchange ProBit, the IEO of the token of the crypto-derivative platform DYMMAX (DMX) has started. The first round of the IEO will last 10 days and end on 30 November at 18:00 MSK.

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The project is selling 2.1 million tokens at a price of 1.25 USDT per DMX. Participants in the first stage of the IEO will receive a bonus:

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• 10% DMX when paying in USDT, BTC and ETH;

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• 15% DMX when paying in WAVES and ERG.

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After the IEO, DYMMAX will list the tokens on decentralized crypto exchanges Uniswap, 1inch and others. The project is also in talks about a listing with five of the largest centralized trading platforms.

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DYMMAX is a decentralized protocol for issuing DeFi options without full collateral. To issue options, DYMMAX does not require sellers: buyers suffice.

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The platform has no collateral and no spread between bids and asks. DYMMAX achieves this through a parimutuel pricing model with fixed payouts, developed by Stanford University researchers. In addition, DYMMAX guarantees payouts to option holders from the common pool.

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“Our goal is to make trading profitable in any market condition. We want traders to earn not only when the asset rises, but also during declines or stagnation,” says Dmitry Filyaev, CEO of DYMMAX.

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DMX issuance is capped at 10 million tokens. Traders will use them to reduce transaction fees, pay for DYMMAX services, govern the platform’s ecosystem, and earn passive income in liquidity pools. Through DMX, the community will choose new trading instruments, fee levels, and blockchains to integrate with the DYMMAX protocol.

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On September 29, the CEO of DYMMAX Dmitry Filyaev spoke at the ForkLog conference \”DeFi: Instructions for Use\” with a presentation on cryptocurrency derivatives.

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