Product Explainers

Product Explainers

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Product Explainers

CLAMM. rDPX v2. SSOVs. Wot mean?!

Dopex has a lot of different products and it can be difficult to figure out how they work, what they do, and when you would want to use them.

Read here for our product explainers that will explain just that.

🔖 Our Product Stack Explained:

💰 Single Staking Option Vaults (SSOVs)

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Single Staking Option Vaults (“SSOVs”) are our flagship product that allows users to write (sell) or purchase options. TL;DR - SSOVs allow liquidity providers to write covered calls and cash-settled puts and earn premiums and farm rewards - Options can be purchased from SSOVs by paying a premium to liquidity providers

Introduction to SSOVs

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  🧮 SSOV calculator

🌊 Dopex v2: CLAMM

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The Concentrated Liquidity Automated Market Maker (”CLAMM”) is the first arm of the Dopex v2 upgrade - the end-game for on-chain options. Liquidity providers will be able to provide v3 liquidity (e.g. Camelot v3 or Uniswap v3) to earn standard trading fees, premiums, and other rewards. Traders will be able to tap into this liquidity to trade American-style options on all their favourite tokens. To understand how the CLAMM works behind the scenes, we have provided extensive content on its mechanics which you can read here.

CLAMM for LPs

As a CLAMM LP, you are depositing v3 liquidity on Dopex and receiving far more efficient utilization than standard LPing with no (or minimal) opportunity cost - i.e. more yield, same exposure.

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Unutilized Liquidity

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Utilized Liquidity

CLAMM for Traders

For those that used SSOVs, you may have found them rather clunky and unintuitive. Fret not, traders, as we introduce a BRAND NEW option trading experience with the CLAMM.

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Flexible Strike Prices

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Flexible Expiries

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American-Style Options

[video coming #soon]

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Read more: CLAMMCLAMM

Chinese translations: 🇨🇳 CN: CLAMM 🇨🇳 CN: CLAMM

Vietnamese translations: 🇻🇳 VN: CLAMM🇻🇳 VN: CLAMM

📈 rDPX v2

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rDPX v2 is an upgrade to the $rDPX token that will allow it to be bonded with $ETH to mint “Receipt Token $ETH” ($rtETH).

For Dopex, this provides a self-reinforcing source of PoL that allows for the vision of $rDPX as a sustainable rebate and incentive system to be realized. For $rDPX and $ETH holders, it is an opportunity to contribute to the system and earn yield in the process.

This is a very high level overview of the v2 system - to understand the mechanics fully, we recommend reading the full rDPX v2.1 System Specification.

We also introduce the concept of Strategy Vaults that allows users to deposit $ETH to earn yield from the whole system while buying $rDPX in the event of a dip.

Beyond the immediate utility for $rDPX and $ETH holders, there are a number of important changes that will be happening to various Dopex users.

$rDPX Holders

We will be introducing a 5% sell-side tax (variable and subject to change) on $rDPX.

Don’t like taxes? Simply bond into the system and this can be avoided!

rDPX/ETH LPs

Our incentives to the rDPX/ETH pool on Camelot will cease as v2 will bootstrap our own PoL - these have been moved to the rtETH/ETH LP.

Want incentives? You already have $rDPX and $ETH - just bond into the system!

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What do I do with $rtETH?

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What do I do with $ETH?

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What other changes are happening later?

[video coming #soon]

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Dopex v2