In this post we are going to see how you can buy Dopex without paying high commissions. Currently, it is not listed on any exchange, but you can get it through the DEFI Uniswap exchange. If you don’t know how, let’s see it here.
If you want to learn more about this cryptocurrency, below we are going to see what Dopex is so you can learn more about this cryptocurrency before you buy it.
Where to buy Dopex
To buy Dopex, we are going to use Binance and Metamask wallet, for me it is the best option, but you can also use other wallets if you don’t use Metamask. Binance is going to be used to buy ethereum that we will need to buy Dopex. Below you can see a step by step video to get rid of any doubts.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
If you already have in your metamask Ethereum wallet to pay for commissions, you are simply going to have to go to uniswap, and copy the Dopex contract so you can find the token if it doesn’t show up in to. You can find this on Coingecko or coinmarketcap by searching for Dopex or you can copy the Ethereum network contract just below:
0xeec2be5c91ae7f8a338e1e5f3b5de49d07afdc81
With this contract, you will be able to find the token, in from to exchange it for the cryptocurrency you want in Uniswap. You can also add the token in metamask and see the amount you have once purchased.
It is currently listed on the exchange gate.io, which you can create your account below and buy without using uniswap in a simpler way.
Platform: Gate.io
Min. Deposit: $10
License: Cysec
New cryptocurrencies (ICO’s)
Growing exchange
Step by step
Let’s see in more detail how you can buy Dopex. The first thing is to login to Binance, if you don’t have an account you can create one here. With your account, you must make a deposit to have funds and be able to buy ETH. You can deposit funds with your credit card, to have the balance directly and without having to wait.
With your first deposit, whether euros, dollars or other currency, you must go to markets, and look for your currency with respect to Ethereum (ETH). In my case, EUR/ETH. Here go to the red sell button, and exchange your currency, in my case euros, for ETH. We use ETH because the commissions on the Ethereum network are paid with this cryptocurrency. You can also buy USDT (Tether), but you must have an amount of Ethereum in your metamask wallet to pay for the commissions, which can be somewhat high depending on the day and time.
Once you have ETH, you must click on the cryptocurrency, and click on withdraw. Go to your metamask, and click on the address, you will see that an address is copied when you click on it. You must enter this address in Binance to withdraw your eth from Binance to Metmask. It is very important to indicate the ERC20 network, and the amount you want to withdraw. The commission is around 6-7$. Confirm that everything is correct and confirm the transaction.
Open your metamask wallet, and if you have configured the etherum network, it should appear in a few minutes the amount of ETH you have transferred. Metamask usually defaults to the ethereum mainnet, so you will not have to configure it as in other networks.
With this done, we must go to Uniswap. Here in from, we indicate ETH and to, the Dopex token. If you look for it, you will not find it. In order to use it, you must copy the address of the contract and paste it. You can search for it on coingecko or coinmarketcap to see it, or you can copy it just below:
0xeec2be5c91ae7f8a338e1e5f3b5de49d07afdc81
With this, the Dopex token should appear so that you can exchange.
Before clicking on swap, check that you have the settings on the wheel at 0.50% to avoid large fluctuations in the price when you buy. In case you have problems in making the transaction, I recommend you to raise the slipping tolerance so that you can make the transaction. This is common in times of high volatility.
With the correct settings, just click on swap, confirm swap and confirm the transaction in the metamask wallet. Keep in mind that the commission in uniswap in some moments or days, can be a bit high. If this is the case, I recommend you try to buy at times when there are fewer people using uniswap or quieter days, where commissions are usually cheaper, as there are fewer people using the ethereum network. Also, remember to leave an amount of ethereum for transactions in case you want to sell or send the cryptocurrencies to another wallet or Exchange.
To see Dopex in your wallet, recopy the contract we used to detect the cryptocurrency. Go to add a token, custom token and copy the contract here. As you can see, it detects the token and you will see the amount you have.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
What is Dopex?
DECENTRALIZED OPTIONS EXCHANGE
Dopex is a decentralized options protocol that aims to maximize liquidity, minimize losses for option writers and maximize profits for option buyers, all passively for liquidity-providing participants.
OPTION WRITERS
OFFSET TAIL RISK
Receive rebates from rDPX for losses incurred. Use rDPX to mint synthetic assets.
TRADERS
MORE LIQUIDITY
Asset pools help obtain liquidity for on-demand options issuance in all options chains.
LIQUIDITY PROVIDERS
FEWER CONCERNS
Minimize exposure by gaining DPX while providing liquidity.
DEFI FIRST AND POWERFUL OPTIONS
We built a protocol with major improvements over the existing options market.
Pricing efficiency
Discounted options and instant arbitrage opportunities.
Deeper liquidity
Buy and trade options at any strike price.
Minimize risk
Offset risk and minimize losses as a liquidity provider with rDPX rebates.
Consistent performance
Earn DPX as a constant reward by providing liquidity to the Options Pools.
Fully Guaranteed
All options have collateral backing them, eliminating the risk of third party defaults.
Synthetic assets with rDPX
Synthetic assets such as stocks and indices using rDPX as collateral.
DUAL TOKEN MODEL
Dopex uses two separate tokens to coordinate new ecosystem dynamics in a synergistic feedback loop.
DPX
DPX is the limited supply governance token.
It accumulates commissions and revenues from pools, vaults and wrappers.
rDPX
rDPX is the redemption token for option writers.
It can be used to mint synthetic assets such as indices, stocks, etc.
Single parking option vaults (SSOV)
SSOVs allow users to lock tokens for a set period of time and earn yield on their staked assets. Users will be able to deposit assets into a contract that will then sell their deposits as call options to buyers at fixed strikes they select for month-end expirations.
Use
DPX and rDPX tokens are used for a variety of use cases aimed at improving the usability and liquidity of the platform, while offering as an incentive to create a superior alternative to current options platforms in terms of price and PnL.
Governance
The DPX token can also be used as a proxy to vote on decisions based on proposals offered by the community. Similar to existing projects that follow this method, such as MakerDAO, Compound, yearn.finance, etc.
Dopex will make use of the DPX token to vote on and approve proposals to actively govern the protocol and ensure that decisions are made to improve it and achieve its goal of being the best source of liquid options.
Some of the initial governance duties are control of the IV multiplier of the option pools, control of the strike range of the option pools, control of the IV cap of the option pools.
Accumulation of commissions
The Dopex protocol collects commissions from option pool purchases, swaps, volume pool penalties, strategy vaults, etc. All commissions collected will be distributed to DPX token holders at the end of the weekly global epochs. rDPX will be used to augment the rewards received from commissions. Read more about commissions here.
Synthetic Collateral
The rDPX can be used as collateral to mint synthetic derivatives of cryptocurrencies, stocks, ETFs, currencies, commodities, etc., which can then be deposited into option pools to earn more return for pool contributors.
Synthetic derivatives offer exposure to traditional markets in addition to cryptocurrencies and give rDPX tokens real value. All minted derivatives would have to be overcollateralized. This would mean that for all the value generated through derivatives, the rDPX token would require a minimum market capitalization to fully fund these derivatives. Say, for example, that $100 million worth of derivatives are minted on Dopex and the minimum collateralization ratio for a synth is 250%, the market capitalization of the rDPX token would have to be a minimum of $250 million to ensure that these synths are fully collateralized and cannot be liquidated.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
