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DeFi & Options
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About Dopex v2
Translations:
The next phase of the Dopex Protocol - capital efficient, flexible, and composable.
The Dopex v1 system introduced decentralized options trading to Arbitrum - it worked as intended, had decent traction, and has allowed for a ecosystem to build around the protocol.
Nonetheless, initial design choices introduced certain bottlenecks that we know we can improve upon. Namely, this relates to liquidity fragmentation, capital efficiency, user friendliness, and composability.
- Concentrated Liquidity Automated Market Maker (”CLAMM”) [Live]
- Options Automated Market Maker (”OAMM”) [Soon]
The two modules are separate but work synergistically to drive deep option liquidity for volatility traders while aligning incentives for liquidity providers. Some benefits to be introduced include:
Liquidity Providers
- Accepts CLAMM positions (e.g. Uniswap v3) for option liquidity which unlocks inactive capital while offering superior yield compared to standard DEX LPing (via the CLAMM)
- Accepts single-sided cross-collateral staking which allows liquidity providers to earn option premiums with hedged downside exposure (via the OAMM)
Option Traders
- Instant fills for both long and short option positions
- Close positions at any time (i.e. American-style options)
- Portfolio margin for superior capital efficiency
- One-click option strategies
This section of Dopex Learn will explain the mechanics behind the backbone of Dopex v2 - the CLAMM and OAMM - and how they all fit together.
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