Firstly, Dopex aims to maximize liquidity, minimize losses for option writers and maximize gains for option buyers — in passive manner. Dopex uses option pools to allow anyone to earn a yield passively. Offering value to both option sellers and buyers by ensuring fair and optimized option prices across all strike prices and expiries. This is thanks to the inbuilt innovative and state-of-the-art option pricing model that replicates volatility smiles.
They are excited to provide open-source oracles to Dopex to enable the launch of a single staking option vault and the listing of Metis as a token. With the new integration, Dopex users will be able to write call options on METIS or buy call options on METIS. The vault will be deployed on Metis Andromeda Layer 2 Rollup Platform.
In brief, Dopex required an accurate and reliable price feed for the asset pair METIS/USD, running on Metis’ AndromedaNetwork. To effectively fulfil the requirements, DIA built a unique and tailor-made price feed oracle for Dopex. The specific processing requirements were transferred to DIA by submitting a DIA Custom Delivery Request via the DIA DAO Forum.
Besides, DIA’s end-to-end oracle capabilities will ensure high quality and resilient data feed for Dopex. Instead of distributing a pre-calculated data feed. DIA built the feed from the ground-up, by simultaneously sourcing trade data directly from CEX and DEXs. Some of the used sources to build the feed include CEX Okx, KuCoin, Gate.io, LBank and DEXs UniSwap, among others.
Finally, with the final price points, aggregated trade data is computed and sanitized based on fully transparent filters and methodologies. previously defined in the Dopex CDR. The grants Dopex and its user base with transparency on the data as well as full control and clarity over the data they depend on.
Dopex a decentralized options protocol which aims to maximize liquidity, minimize losses for option writers and maximize gains for option buyers – all in a passive manner for liquidity contributing participants.
DIA a cross-chain, end-to-end, open-source data and oracle platform for Web3. The DIA platform enables the crowd-sourcing, validation and sharing of transparent and verified data feeds for asset prices, metaverse data and more. DIA data simultaneously sourced at a trade level from multiple on-chain and off-chain sources and made available to developers on all relevant layer 1 and layer 2 networks.