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Yahoo! Finance looks into DYMMAX, while the project is already passing the soft cap in the first hours of IEO on ProBit

Dublin, Ireland – DeFi has been a very hot topic in 2020 and reminds us of the ICO boom back in 2017, which sparked speculation and allowed investors to rack up millions in profits within hours. What makes DeFi even crazier is that most projects do not even put the effort to come up with an idea or write a white paper. All they do is create a token and offer it for staking. Unsuspecting investors would jump in and start farming without due diligence, and before they realize it, there is no real-world application of the token. In the end, token creators have already made enough money for themselves and disappeared.

All the excitement in DeFi has done nothing but attract scams and get rich quick schemes into the space which isclearly non sustainable. So, the question is – are people still developing legitimate DeFi products? Absolutely. There are still new DeFi projects that are developed to add more value to the space such as DYMMAX.

What is DYMMAX?

DYMMAX is an abbreviation for Dynamic Market-Making Auctions and Exchange and serves as an innovative protocol that allows for the trading of decentralized options without collateral. The tool can be used by hedgers, retail, and institutional investors to make a profit regardless of which direction the market goes.

Why DYMMAX?

DYMMAX solves critical disadvantages of the market, that a lot of traders faced, such as:

– High premiums;

– Low liquidity;

– Insecure contracts.

Insecure contracts

Some decentralized option platforms do not have settlement centers that control the loss and profit of traders. As such, the buyer of the option is forced to ensure that the amount he contributes to the contract corresponds to the strike price. Meanwhile, the seller on his part is compelled to contribute the underlying asset under consideration. As a result of this process, a significant portion of the underlying asset is blocked in the smart contract (when conclud...

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