DYMMAX Cryptocurrency Derivatives Project Announced Completion of IEO Raising Over $ 1 Million

Place/Date: - January 20th, 2021 at 3:34 pm UTC · 2 min read
Contact: DYMMAX, Source: DYMMAX

DYMMAX Cryptocurrency Derivatives Project Announced Completion of IEO Raising Over $ 1 Million

Token sale of the DYMMAX cryptocurrency derivatives project is successfully closed on Probit, the Korean cryptocurrency exchange. In two rounds of funding, the team managed to raise $ 1.2 million in cryptocurrencies.

The initial exchange offer was launched on November 20 and had two rounds. The soft cap was reached in the first 25 minutes of token sale. Due to the large number of unfulfilled purchase orders, the DYMMAX team decided to hold a second round, which ended on December 20. Over two rounds, Probit sold DMX tokens for a total of $ 1.2 million.

On December 25, the DMX token was listed on the Probit exchange. Trading is available for two pairs – DMX / USDT and DMX / BTC. Trading pair for DMX and South Korean won (KRW) will become available later.

Dmitry Filyaev, CEO of DYMMAX, said:

“We are pleased with the IEO results. Market participants showed great interest in our product, which proves that such solutions were sorely lacking in the field of decentralized finance. Our agreement with Probit provided for the possibility of three rounds of funding, but we were able to achieve our goals in just two.”

In 2021, DMX tokens will be listed on Uniswap, 1inch and other decentralized cryptocurrency exchanges.

DYMMAX is a new decentralized protocol for issuing DeFi options based on a pricing model developed by Stanford University scientists and refined by the project team. The innovation of the platform lies in the fact that sellers are not required to issue DYMMAX options: only buyers are enough. Payments to option holders are guaranteed through the shared money pool of the smart contract.

DMX emission is limited to 10 million tokens. DMX can be used by traders to reduce transaction fees, pay for DYMMAX services, manage the platform’s ecosystem, and generate passive income in liquidity pools. Through DMX, the community will be able to choose new trading options and fees, choose new blockchains to integrate with the DYMMAX protocol.