Partnership with Dopex on Arbitrum
We are delighted to announce that Dopex has integrated DIA oracles into its decentralized options exchange in the Arbitrum network.
Dopex is a Decentralized Options Exchange that uses blockchain technology to provide permissionless and non-custodial access to options trading. Dopex’s vision is to provide a platform that minimizes losses for option writers and maximizes liquidity for option buyers. Dopex specializes in options and its product line ranges from naked options to various option-powered strategies.
Dopex Integrates DIA Oracles on Arbitrum
We are delighted to announce that Dopex has integrated a custom DIA price oracle, delivering price data for the Dopex Rebate Token – rDPX. The oracle, deployed on Arbitrum Mainnet, is allowing users on the Dopex platform to write or buy call options on the $rDPX asset.
In platforms like Dopex, for options that are exercised, the correct settlement amount needs to be determined. This is based on the difference between the option’s strike price and the underlying asset’s current market price. DIA price oracles ensure that the most recent and accurate price is used for this calculation, based on market data across multiple centralized and decentralized exchanges.
Another day in the land of decentralized finance and what a wonderful day it is indeed. It is with utmost delight that I announce the integration of DIA oracles into the Dopex platform, which will be used to provide price feeds for our beloved token so-called “$rDPX”. DIA has been a proven and trusted partner to multiple Arbitrum protocols and we are pleased to have their support.Nutoro D. ChutoroDopex Core-Team
Transparent and Customizable Price Oracles
DIA generates the price feed for rDPX token by subscribing to the swap events happening in the liquidity pool where the asset is traded, which includes Sushiswap and Uniswap. This granular trade data is then cleansed and computed as requested by the Dopex team, to come up with the final price.
See the asset’s data sources in the DIA App: RDPX | Dopex Rebate Token | DIA
As a result, a new price for the asset is generated every 120 seconds. The oracle, specifically deployed for Dopex, will import a new price to the exchange’s smart contracts whenever the asset’s price deviates by 2% from the previously reported value. This will allow for the trustless settlement of the exchange’s smart contract operations.
Dopex is a Decentralized Options Exchange that uses blockchain technology to provide permissionless and non-custodial access to options trading. Dopex’s vision is to provide a platform that minimizes losses for option writers and maximizes liquidity for option buyers. Dopex specializes in options and our product line ranges from naked options to various option-powered strategies.
$rDPX is a rebate token by Dopex, deployed on the Arbitrum network. The address of the token is 0x32Eb7902D4134bf98A28b963D26de779AF92A212. The purpose of the rDPX token is to compensate writers on the Dopex platform for their losses. Check its price and more here.
Decentralized options exchanges operate on blockchain platforms, utilizing smart contracts to facilitate trades without intermediaries. For these contracts to function effectively, especially in options trading, they require accurate and timely price data. Price oracles, like those provided by DIA, supply this essential data, ensuring the correct valuation and settlement of options, reducing manipulation risks, and bolstering trust in the platform’s integrity.
The rDPX is a price oracle built by DIA specifically for the Dopex exchange. The oracle delivers timely and reliable price information for the Dopex Rebate Token – rDPX. The oracle is built leveraging trade data directly fetched from DEXs such as Sushiswap and Uniswap and transparently cleansed and computed, providing a high-confidence price feed for the asset.