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After the auction closes, ERC20 tokens are issued and distributed among the participants and then auction reopens. So how many times it repeats in a row?
The main goal of auction system is estimating of ATM strike and premiums for new options contracts. Because we cannot use classic order book with buyers and sellers in parimutuel model. |
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DescriptionCryptocurrency options based on the parimutuel betting with fixed odds pricing model, guaranteed to payout in any market scenario. Option prices are calculated through off-chain and do not require specialized market makers, ensuring low option prices upon issue. Key features- Leverage up to 20:1
- Limited risk when the market moves in the opposite direction
- The ability to profit from falling and stagnant markets
- Long-term portfolio insurance
- Risk management for market makers
- Tokenization of issued options
- Instant profit-taking in the secondary market
ProblemDespite the emergence of platforms and services that allow trading derivatives for cryptocurrencies and tokenized assets, none of them is able to provide the market with a model that would suit all participants, both willing to buy or sell options. This is due to the impossibility of hedging risks by option sellers, which in turn generates extremely high premiums that buyers have no interest for. SolutionDYMMAX - is a unique platform designed to solve this problem, taking into account the cryptocurrency market specifics, as well as the concept of distribution. A set of option pricing strategies is implemented at its basis, with pricing based on the parimutuel betting with fixed odds model. PrincipleTaking into account the specifics of a new pricing model for the market, a platform was created for the initial issue of option contracts based on an automatically prolonged auction. The model mentioned above implies floating premiums during the collection of orders, and therefore, an auction is created, which determines the ATM strike, as well as all the options premiums for the submitted limit orders. After calculating the premiums, the order is executed or rejected, and the result of the execution is the issue of ERC20 tokens for the option contract, which can circulate on the secondary market. Target consumers:- Cryptocurrency traders;
- Long-term investors (hedgers);
- Miners;
- Cryptocurrency funds.
| Bull Spread - the strategy designed for asset growth, allowing to make a profit in a growing market and limit losses in a falling market; | Iron Fly - the strategy of selling volatility, or in other words, extracting profit from market stagnation, when the price fluctuates in a range; | Bear Spread - the equivalent of a short position, but without the need to pay interest rates, making a profit in a falling market, limiting losses in case of growth. | |
Platform |  |  |  | | | Automatically prolonged auction. | Displaying bids in the current auction. | Option constructor for visualizing profit and risk. | |
DMX tokenDMX is the governance token of the Dymmax platform. It is designed to ensure the stability and decentralization of the Dymmax system, and opens the following opportunities to its holders: - Voting to add new options series.
- Cashback from trading commissions.
- Payment for services of the Dymmax ecosystem and partners.
- Single token share increases due to regular token burnings.
- Voting on the Dymmax roadmap and priorities.
DistributionThe maximum emission of the DMX token will be 10M that will be distributed as follows: | % | DMX tokens | Where | Vesting | | 21% | 2 100 000 | Public sale | Instant | | 7% | 700 000 | Community airdrops | Within a year after IEO | | 15% | 1 500 000 | Ecosystem & partners | Within a year after IEO | | 15% | 1 500 000 | Seed sale | 1 year after IEO | | 12% | 1 200 000 | Staking | 25,000 per month for 4 years | | 30% | 3 000 000 | Foundation | 50,000 per month for 5 years |
Website: www.dymmax.com
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Greetings fellow Cryptarians!We know you’ve been anticipating the game release, so we are happy to announce that the wait is finally over! Get ready to build, destroy, and watch your wallet grow!  Dapp: https://play.cryptowergame.com
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Are there any plans to build a mobile version of Cryptower?
Yep, we are going to publish beta in Apple Tesflight after browser version released in mainnet. But today everyone can help us to improve UX, UI or add new features! |
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It use the brave browser explorer can't open and loading at present.
Today I tested Cryptower in Brave browser, and it works fine! Without any problems! Please check, did you switch embedded crypto-wallet to Ropsten testnet?   |
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It use the brave browser explorer can't open and loading at present.
Thank you, we will test it in the brave and update information! |
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Cryptower - a game that allows you to simulate price fluctuations, traders’ behaviour and formation of price patterns. An infinite number of players can participate in the Cryptower game and anyone can enter or exit the game at any time. | Welcome screen
We recommend to join to existing towers! | Tower screen
Main screen of the game. | All Towers screen
Each player can participate in unlimited number of towers. |
Rules of the game: - The object of the game is to make a profit by building a tower;
- The number of players is unlimited;
- The height of the tower is equal to the number of blocks in it;
- A player can build one or more blocks;
- A player can only remove the number of blocks he/she has previously built;
- A player can either build or remove blocks in one turn, but not both;
- Players do not have to wait their turn; whoever makes the move first goes first.
- There is a maximum number of blocks a player can build at any one time. At the very beginning of the game, you can build only one block, but starting with n > 1 (where n is the number of blocks in the tower), you can build no more than the integer part of the binary logarithm n;
- In order for a player to build a block, the player must put blocks in the amount equal to the height of the tower plus one block;
- When a player removes a block, he/she receives ETH equaling the height of the tower (number of floors) at the current moment.
- When a player removes a block, the ETH are credited to the player’s account.
Advantages:- A multi-user, self-funded market simulator based on a smart contract on Ethereum network;
- The towers are a visual representation of the price, the high tower is the high price and the low tower is the low price, respectively;
- The main goal of the game is to earn on fluctuations in the heights of the towers by building blocks below and destroying above;
- The cost of the block is backed by Ethers in the tower’s bank and cannot be equal to 0. The minimum price of the block is equal to the rate of the tower;
- A smart contract guarantees transparency and lack of manipulations while a mathematical model guarantees payout without fail.
Requirements:- Desktop browser Chrome, Opera, Firefox, Brave;
- Installed extension Metamask;
- Metamask switched to Mainnet.
If you use Brave browser, you already have embedded in Brave browser compatible crypto-wallet.Full tutorial - How to play in the Cryptower:Part 1: Preparations for playing. Metamask installation.Part 2: Registration. Game UI.Part 3: First game.Links:Website: https://cryptowergame.comDapp: https://play.cryptowergame.comSocials:Telegram: t.me/cryptowergameMedium: Description and analysis of Cryptower gameReddit: /r/cryptowerTwitter: @CryptowerGameOld thread: https://bitcointalk.org/index.php?topic=3418629.0
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Did you decide to stop this or where are you continuing the discussion with the community now?
Hi there! We can continue to discuss our game. Also we want to invite you to participate in beta testing. |
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Looked at the information about the project. So to speak. I understand that the project is cool, but there is not enough knowledge in the financial field. I would like more details on the mechanisms. A simple explanation of what an option is, a directive?
Hello! Thank for your interest. In the announcement, we provided general information about the upcoming ICO. More details are described in the WP, as well as 2 articles published in the Medium. |
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That's great project!
However, that seem not many traders really know about this project.
Hello, yes! It is really our problem. We will refine all information such as WP, website, mvp. |
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So participants have to buy and deposit a token from you or are those tokens for participation freely available?
Tokens emits in the game, but if you want to change tokens to eth for ex., we can buy it back. We are considering two cases buy back and exchange. if you have other idea, post it here please. So you can gain tokens during the game and then exchange them for ETH through your buyback? How do you earn money? We will take a small spread between buy/sell price for token. Is the small spread pre-fixed at a certain price or will that vary over time depending on some defined circumstances? Yes, it is small % (between bid/ask) of token price. |
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So participants have to buy and deposit a token from you or are those tokens for participation freely available?
Tokens emits in the game, but if you want to change tokens to eth for ex., we can buy it back. We are considering two cases buy back and exchange. if you have other idea, post it here please. So you can gain tokens during the game and then exchange them for ETH through your buyback? How do you earn money? We will take a small spread between buy/sell price for token. |
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So participants have to buy and deposit a token from you or are those tokens for participation freely available?
Tokens emits in the game, but if you want to change tokens to eth for ex., we can buy it back. We are considering two cases buy back and exchange. if you have other idea, post it here please. |
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