## What Is Dymmax Protocol (DMX)?

Dymmax is a novel protocol aiming to build a decentralized platform for options emission and secondary circulation. Dymmax is based on a well-studied parimutuel model, allowing to issue options without a seller. Buyers of various option types (PUT, CALL, IRONFLY) form a joint bank, which is guaranteed to be sufficient for expiration payments. The price of every option type is calculated off-chain when all bets are done for maximum auction efficiency. All matched orders are tokenized in the form of ERC-20 tokens, providing a way for the secondary market. New at-the-money optionsсобе with the same expiration day are issued every day, supplementing existing supply and increasing liquidity.

DMX is the native utility token that is used for:

* Increase Cashback from trading commissions
* Voting for new options
* Voting on DYMMAX development paths
* Staking to participate in the liquidity pools


## How Many DMX Coins Are There in Circulation?


Initial DMX distribution was done during two rounds of IEO on Probit exchanges and public trades were started there on December 25, 2020. 500k tokens were sold out, 1.6M tokens are reserved for further (if there will be any). 700k tokens are reserved for community airdrops that will be released within one year. 25k tokens per month will be distributed to users, participating in the DMX staking and 3M will be used to fund the protocol development within 5 years. 10M tokens are the total supply, but 15% of the total supply will be burned with time.

### Who Are the Founders of Dymmax Protocol?

Dymmax Protocol is originally the brainchild of Dmitry Filyaev, who has extensive experience in Dapp development and derivatives trading. The idea was later validated by researcher Dmitry Meshkov, who has joined the project in the adviser role.
Before the IEO start, the team was fulfilled by Tatiana Maksimenko, who is an editor in multiple crypto-related media and co-founder of IdolMe PR Agency. 

### Where Can I Buy Dymmax Protocol (DMX)?

DMX is available for trading on a growing number of exchanges, with cryptocurrency and stable-coin pairs currently available.

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