The IEO token of the DYMMAX cryptoderivative platform (DMX) was launched at the South Korean ProBit Crypto Exchange. The first round of IEO will last 10 days and will end on 30 November at 18:00 (MSC).
The project has put up for sale 2.1 million tokens at a price of 1.25 USDT for DMX. Participants in the first round of IEO receive a bonus:
10% DMX when paying in USDT, BTC and ETH;
15% DMX when paying in WAVES and ERG.
Upon completion of the IEO, DYMMAX will place tokens on decentralised cryptographic exchanges Uniswap, 1inch and others. The project is also negotiating a listing with the five largest centralised trading floors.
DYMMAX is a decentralised protocol to issue DeFi-options without full collateral. Sellers are not required to issue DYMMAX options: buyers are sufficient.
There is no collateral or spread between the buy and sell prices on the platform. DYMMAX achieves this through a parimutuel-based, fixed payout pricing model developed by scientists at Stanford University. In addition, DYMMAX guarantees payments to option holders from the general cash pool.
„Our goal is to make trading profitable in absolutely any market situation. We want traders to be able to make money not only when an asset grows, but also when there is a downturn or stagnation,“ comments DYMMAX CEO Dmitry Filyaev.
DMX issue is limited to 10 million tokens. Traders will use them to reduce transaction fees, pay for DYMMAX services, manage the platform ecosystem and generate passive income in liquidity pools. Through DMX, the community will select new trading instruments, commission rates and blockages for integration with the DYMMAX protocol.
Recall that on September 29, DYMMAX CEO Dmitry Filyaev gave a presentation on cryptographic derivatives at the ForkLog conference „DeFi: instructions for use“.