Current US president Donald Trump introduced a universal 10% tariff on imports and higher specific rates for countries like China and Japan, signaling a major shift in US trade policy.

On Apr 2, 2025, Donald Trump announced aggressive US tariffs, including a universal 10% levy on all imports alongside specific rates of 34% on China, 24% on Japan and 20% on the European Union (EU), while the absence of tariffs on Russia was a notable exception. This policy shift resulted in significant volatility in both traditional and cryptocurrency markets.

The timing of Trump's announcement was widely speculated to be strategic, occurring shortly after US stock markets closed in order to mitigate immediate market reactions. However, the following day, Apr 3, 2025, saw substantial declines: the S&P 500 dropped over 5.1%, and the Nasdaq Composite fell more than 5.6%, reflecting investor anxieties about potential economic disruptions and heightened inflation. 

This marked the fifth-worst trading day of the 2020s, with parallels drawn to the infamous Black Thursday in March 2020. But in stark contrast, Bitcoin displayed remarkable resilience, trading around $81.7K, a mere 6% drop from its local bottom of $77K recorded on Mar 10, 2025. This stability suggests that investors may increasingly be viewing cryptocurrencies as a hedge against geopolitical uncertainties, since Bitcoin’s decentralized nature allows it to operate independently of tariffs and supply chain disruptions that affect traditional assets.

Trump characterized the tariff announcement as the beginning of a "Liberation Day," introducing a two-tier system where the universal 10% tariff would take effect on Apr 5, 2025, while reciprocal tariffs targeting around 60 countries would follow on April 9. This reciprocal approach aims to counterbalance existing tariffs imposed by other nations on American products, pushing countries and regions like China, Japan and the EU to reconsider their trade policies. During his speech, Trump presented a chart illustrating the disparities in tariff rates, using it to justify the administration's stance on the need for these measures to correct long-standing trade imbalances.

The implications for Asian countries are particularly severe, with many facing the highest tariffs, including Cambodia at 49%, Laos at 48% and Madagascar at 47%. Economists who favor proactive trade policies view these tariffs as a negotiation tactic, often referred to as a "game of chicken," whereby the US essentially dares other nations to either accept new, more favorable trade terms or face increased costs for their exports to the US. 

Trump argues that many countries impose heavy taxes on American goods that make them less competitive abroad. He believes that by introducing these tariffs, other nations will be compelled to lower their own export taxes on US products, fostering fairer trade conditions. However, critics warn that this strategy could backfire, potentially igniting a trade war damaging to every country and area involved. They express concerns that retaliatory tariffs from other countries might lead to increased costs for American consumers and economic uncertainty for businesses. 

The success of Trump's tariff policy ultimately hinges on whether other nations choose cooperation over confrontation. Proponents of the strategy argue that countries might fear losing access to the lucrative US market, prompting them to negotiate more favorable terms for American exports. If successful, this could theoretically boost US jobs and profits.

In summary, as the situation evolves, the effects of these tariffs on global trade dynamics and market stability remain to be seen, with potentially far-reaching implications for both traditional and cryptocurrency markets.

Amidst the tumultuous landscape created by the recent tariff announcements, Bitcoin has demonstrated a surprising level of resilience. Despite the significant volatility affecting traditional markets, Bitcoin maintained robust support around $80K, showcasing its ability to withstand external economic pressures. This stability is particularly noteworthy when compared to mainstream public equities, which experienced substantial declines in response to the tariffs.

The magnitude of Bitcoin's price drawdown was considerably less severe than that of many established stocks, highlighting its unique position in the financial ecosystem. While indices such as the S&P 500 and Nasdaq Composite plummeted over 5%, Bitcoin's relatively mild decline suggests that investors may increasingly view it as a safe haven and alternative asset during times of economic uncertainty.

This resilience can be attributed to several factors. First, Bitcoin's decentralized nature allows it to operate independently of traditional market dynamics and geopolitical influences, making it less susceptible to the same shocks that impact equities tied to physical goods and international trade. Additionally, the growing acceptance of cryptocurrencies as a legitimate asset class has bolstered investor confidence, leading to a more stable demand for Bitcoin, even in volatile environments. In particular, Strategy’s (formerly MicroStrategy) continued accumulation of Bitcoin and BlackRock’s launch of ETP products in Europe continues to cement Bitcoin’s unique position in equity portfolio allocation.

Furthermore, the current market sentiment indicates a shift in the way that investors perceive Bitcoin, particularly as an effective hedge against inflation and geopolitical risks. As traditional markets grapple with the ramifications of aggressive tariff policies, Bitcoin's ability to hold steady at the $80K level may attract more institutional interest, reinforcing its position as a viable alternative investment.

In conclusion, Bitcoin's resilience within the tariff-induced volatility not only highlights its potential as a digital asset, but also suggests a broader acceptance among investors seeking diversification and stability in uncertain economic times. This comparative strength against mainstream equities could signal a pivotal moment in the evolution of cryptocurrency as a mainstream financial instrument. 

Advanced

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Bybit x Santiment: Tariffs-led whipsaw solidifies Bitcoin’s resilience

Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

As markets near US president Trump's "Liberation Day" for tariffs, crypto remains volatile. BTC has dropped from a local high of $88K to $82K amid signs that tariffs will affect many countries. Implied volatility has spiked and then eased. Other derivatives market metrics show that BTC and ETH volatility smile skews remain significantly skewed toward puts, a level last seen in March 2023.

Please check out the report’s highlights.

BTC options show signs last seen in March 2023

As crypto prices remain highly correlated with macro-sensitive assets, the week began with a surge in short-tenor implied volatility for BTC and ETH. The sell-off continued as President Trump announced tariffs affecting about 90 countries. BTC's front-end volatility quickly fell below longer maturities, and short-dated volatility smiles briefly favored OTM puts, reminiscent of levels seen during the March 2023 US banking crisis. 

SOL options remain the least traded among major cryptocurrencies (i.e., BTC and ETH), but there was a significant rise in call options this week, dominating both volume and open interest. Following the Mar 28, 2025 expirations, many contracts weren’t reopened, with the notional size of call contracts decreasing from over $3.2M to around $2.5M. However, there has been a slight increase in the notional size of open put options, as traders respond to a continued decline from the January all-time high of $250.

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Bybit X Block Scholes crypto derivatives analytics report (Apr 2, 2025): BTC option skews show a bearish sign last seen in 2023

Fidelity recently announced that it would be launching its own stablecoin, to be pegged to the US dollar. Learn more here.

After first making headlines upon filing paperwork for its very own money market fund, Fidelity seems to be taking the next step toward this grand goal by issuing its own 

 pegged to the US dollar could be the start of a multi-stage scheme to help crypto achieve mainstream adoption.

If you're new to fund-issued stablecoins, or perhaps a crypto beginner whose attention has been piqued, you might be wondering how Fidelity’s stablecoin could impact the crypto market. From highlighting how the Fidelity stablecoin differs from its other fiat-backed counterparts (e.g., 

) to elaborating on the possible motives for launching it, here's everything you need to know about the proposed Fidelity stablecoin.

Founded in 1946, Fidelity Investments has built a reputation as a leader in financial services. To date, it's managed trillions of dollars in assets for individuals and institutions alike. 

Known for its innovative approach to investing, Fidelity has consistently stayed ahead of the curve by embracing new technologies and trends. From mutual funds to retirement accounts, it's fair to say that Fidelity is a trusted name in finance, and has successfully established its presence, thanks to its storied legacy in financial services.

Fidelity’s foray into crypto isn’t new. With the demand for digital asset services growing larger over time, the company has quietly been building its presence in the crypto space through 

 since 2018, with dedicated service that provides custody and trading services for institutional and individual investors.

By launching its own stablecoin, Fidelity is taking this commitment toward 

 innovation to the next level, signaling its belief in the long-term growth potential of digital assets.

Like many of its popular stablecoin counterparts, Fidelity’s stablecoin is pegged to the US dollar. This ensures price stability, a critical feature for traders looking to mitigate risk amid 

. Built on blockchain technology, this stablecoin is ostensibly designed to integrate seamlessly with Fidelity’s broader ecosystem of tokenized financial products. This means users can expect a secure, efficient and transparent digital asset that aligns with Fidelity’s high standards.

 like Tether’s USDT and Circle’s USDC dominate the market, Fidelity’s offering brings something unique to the table: trust. As a regulated financial institution with decades of experience, Fidelity offers a level of credibility that few other stablecoin issuers can match. Furthermore, its focus on regulatory compliance positions it as a safer alternative for both retail and institutional investors.

Fidelity’s stablecoin represents a deliberate effort to integrate its institutional expertise with blockchain’s efficiencies. By creating a dollar-pegged digital asset, the firm aims to serve as a trusted intermediary for clients navigating both traditional and crypto markets. Moreover, the Fidelity Digital Assets division has already laid the groundwork through Bitcoin custody services and 

. The proposed stablecoin extends this infrastructure, allowing institutional investors to transition seamlessly between volatile cryptocurrencies and stable-value instruments without exiting Fidelity’s ecosystem.

The stablecoin market has grown exponentially, surpassing $200 billion in 2025. This surge is largely being driven by demand for volatility hedging and cross-border payment efficiency. Fidelity recognizes that traders and institutions increasingly require reliable on-ramps between fiat and crypto. Its stablecoin offers a compliant alternative to incumbents, such as Tether and Circle, who face lingering skepticism about reserve transparency. By entering this space, Fidelity would not only meet immediate demand, but position itself as a leader in institutional-grade digital assets, thus appealing to risk-averse entities.

The US regulatory landscape under the current administration has shifted decisively toward crypto-friendly policies, and the Stablecoin Innovation Act and the GENIUS Act are advancing through Congress, aiming to establish clear rules for reserve backing and 

 compliance. Designed with Treasury reserves and audit transparency, Fidelity’s stablecoin aligns with these impending standards. By proactively adopting regulatory best practices, Fidelity avoids the scrutiny faced by Tether — and positions its stablecoin as a “gold standard” for institutional adoption.

Stablecoins generate revenue through interest earned on reserve assets. For example, Tether reported over $6 billion in net income in 2024 from its treasury holdings. Fidelity already manages $80 billion in its Treasury Digital Fund, and can potentially monetize its stablecoin reserves while offering competitive yields to clients. This creates a dual revenue stream, consisting of fees from asset management and interest from stablecoin reserves.

The stablecoin market remains dominated by Tether and Circle, but their retail-focused models leave room for institutional alternatives. Fidelity’s brand reputation, combined with its existing relationships with hedge funds and pension plans, gives it a unique edge. For example, its stablecoin could integrate directly with retirement accounts, allowing 401k participants to allocate to crypto without custody risks. This differentiation is critical as rivals like BlackRock and Franklin Templeton expand their tokenized offerings.

While details are still scarce, the following are some likely use cases for the Fidelity stablecoin.

Using Fidelity’s stablecoin for staking

One of the most exciting use cases for Fidelity’s stablecoin is staking. For traders and investors, staking offers an opportunity to 

 by locking up their assets in support of blockchain networks. With Fidelity’s stablecoin, users could stake their holdings with confidence, knowing they’re backed by one of the most trusted names in finance.

Enhancing market liquidity and capital efficiency

Fidelity’s stablecoin is also expected to enhance liquidity across trading platforms. By providing a reliable medium of exchange that 

 fiat currency and digital assets, this stablecoin could streamline trading operations and reduce transaction costs, creating a win-win for traders and exchanges.

Facilitating real-world asset (RWA) tokenization

Fidelity's stablecoin is strategically positioned to drive the tokenization of RWAs by democratizing access through fractional ownership of commodities and real estate, thus streamlining the trading and settlement of tokenized securities as a stable exchange medium. This could ultimately foster a more efficient and transparent payment ecosystem for tokenized goods and services.

How will this impact the current crypto landscape?

Legitimization and mainstream adoption of crypto

Fidelity's established reputation within traditional finance lends significant credibility to the crypto space. This legitimacy can alleviate concerns among mainstream investors who have been hesitant, due to perceived risks or a lack of understanding. By offering a regulated stablecoin, Fidelity signals that digital assets are becoming a legitimate part of the broader financial landscape, encouraging greater participation from institutional and retail investors alike. This increased confidence can lead to wider adoption of crypto-related products and services, integrating them into everyday financial transactions.

Market stabilization and increased liquidity

The substantial capital that Fidelity brings to the market can significantly increase liquidity, reducing price volatility and making crypto assets more attractive to traditional investors. Increased liquidity facilitates smoother trading and reduces the risk of significant price swings, creating a more stable and predictable market environment.

Fidelity's involvement encourages dialogue between regulators and established financial institutions, leading to clearer and more comprehensive regulatory frameworks for stablecoins and other digital assets. By leveraging its existing compliance and risk management expertise, Fidelity can contribute to the development of robust security standards and best practices for the crypto industry. This increased regulatory clarity and security can reduce the risk of fraud and market manipulation, fostering greater trust and confidence among investors.

he introduction of a regulated stablecoin from a trusted institution can accelerate the integration of traditional financial products and services into the 

 (DeFi) space. Such integration can lead to the development of innovative financial instruments, such as tokenized securities and decentralized lending platforms, bridging the gap between TradFi and DeFi while allowing for far greater capital efficiency within the DeFi space.

Driving crypto infrastructure standardization

Fidelity's participation can drive the development of standardized infrastructure and interoperability protocols, facilitating seamless transactions across different blockchain networks and traditional financial systems. This standardization could improve the efficiency and scalability of the crypto market, thereby enabling greater adoption and integration with existing financial infrastructure.

What are the challenges that Fidelity may face?

While Fidelity's late entry into the stablecoin market is promising, due to its institutional credibility and regulatory focus, it does face substantial challenges. At the top of the list of Fidelity’s potential challenges: competing with established stablecoin giants like USDT and USDC will require Fidelity to demonstrate superior transparency, security and seamless integration of the Fidelity stablecoin within existing ecosystems. 

Building trust with a potentially hesitant crypto native demographic and overcoming established network effects will also require strategic partnerships, competitive incentives and a flawless track record in maintaining a stable peg to the US dollar.

The regulatory environment surrounding stablecoins is rapidly evolving. Recent developments such as the 

 (GENIUS) Act signal a more favorable stance toward crypto in the United States. For companies like Fidelity, this creates an opportunity to innovate within clear regulatory frameworks while addressing concerns around transparency and accountability. However, this evolving legislative landscape doesn't mean that Fidelity is out of the woods yet. This is especially so because regulations aren’t uniform across all jurisdictions. Therefore, Fidelity will need to demonstrate regulatory agility and adaptability to navigate these varying requirements.

Lastly, while there’s speculation that the Fidelity stablecoin could play a huge part in the company’s tokenized money market fund offering, there’s currently nothing set in stone. This is due to the inherent complexities of integrating a newly launched stablecoin into existing financial products, as well as the need to navigate potential regulatory hurdles related to that integration. Since Fidelity Digital Assets and 

 are two separate entities, there will likely be some coordination needed before Fidelity can incorporate its stablecoin into its onchain bond market.

Fidelity’s launch of its own stablecoin marks an important milestone in the evolution of digital finance. By combining stability with trust and regulatory compliance, this new offering has the potential to reshape the way traders interact with crypto. For beginners looking for a safe entry point into crypto, as well as experienced traders seeking reliable tools for staking and liquidity management, Fidelity’s stablecoin offers an enticing proposition. 

Likewise, for institutional traders, the proposed stablecoin provides a compliant and secure bridge between traditional finance and DeFi, unlocking new avenues for managing assets and diversifying portfolios. While challenges remain, Fidelity’s entry is poised to accelerate the integration of digital assets into mainstream finance, ultimately paving the way for wider adoption and innovation.

Intermediate

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Fidelity’s new stablecoin: A bold step into crypto stability

Learn how Amnis Finance (AMI) transforms APT staking with liquid staking solutions. Earn rewards, maintain liquidity, and explore DeFi opportunities seamlessly.

 (DeFi) enthusiasts passionate about exploring the endless opportunities in the crypto market.

, through which your assets are locked for a fixed period and can’t be used for other purposes, liquid staking solutions offer the flexibility to channel your staked assets to yield-generating ventures while preserving liquidity. 

One such platform is Amnis Finance, a pioneering liquid staking protocol on the 

 that provides investors with yield-bearing tokens to leverage DeFi opportunities.

 is a liquid staking platform on the Aptos blockchain whose users can stake their APT tokens and earn rewards through DeFi activities, such as 

Offering a staking APR of 8.02%, Amnis is exclusive to Aptos, a 

 with superior technology known as Move, designed for scalability, security and low-cost transactions.

Through Amnis, those who hold APT (the native token for the Aptos network) can stake their tokens and receive tokens of equivalent value, which they can now use for trading and investing opportunities without unstaking their locked tokens.

Furthermore, Amnis has created new financial instruments that are attractive to institutional investors. These instruments use a yield tokenization concept that splits tokens into yield-bearing and principal tokens.

At the heart of Amnis Finance’s operations is an innovative staking structure designed to provide the involved parties with efficient and flexible investing. Amnis system is powered by smart contracts that enable APT token holders to effortlessly maximize returns without having to lock their capital or run a validator’s node.

The basic architecture of Amnis is composed of the following components:

, it issues amAPT. The user can then use these tokens to participate in the Aptos DeFi ecosystem, or stake them on Amnis to receive stAPT tokens and generate rewards.

, maintaining a 1:1 peg with APT. Users who stake their APT tokens through Amnis Finance receive an equivalent amount of amAPT, which can be utilized across various DeFi platforms without forfeiting staking rewards. This design ensures that users retain flexibility and can engage in activities such as lending, borrowing and liquidity provision, while their assets continue to generate staking yields.

 that allows investors to instantly withdraw their amAPT tokens. This convenient withdrawal feature helps them bypass the 14-day waiting period common with traditional staking.

Amnis Finance has established a reserve mechanism to ensure price stabilization in case of market surges. When necessary, the platform may buy back amAPT, and the profits are transferred to the Amnis treasury.

For users seeking to maximize their staking returns, stAPT offers an auto-compounding yield-bearing option. By depositing amAPT into the stAPT vault, users receive stAPT tokens that represent their share in the staking pool.

As staking rewards accumulate, the value of stAPT increases proportionately, eliminating the need for manual restaking and providing a seamless way to enhance staking yields over time.

Beyond its dual-token model, Amnis Finance introduces an innovative approach to yield optimization through yield tokenization. This process involves 

 yield-bearing assets (such as stAPT) into standardized yield tokens (SY), which are then divided into principal tokens (PT) and yield tokens (YT).

The PT token represents the original value of the staked asset, and can be redeemed at a 1:1 ratio upon maturity, while YT signifies the portion of interest generated over time. This segmentation allows users to tailor their investment strategies by separately managing principal and yield components, offering greater control and flexibility in crafting financial outcomes.

 for the Amnis Finance ecosystem. It’s designed to ensure a balanced ecosystem on the network. AMI token holders can propose changes and vote on key matters regarding the operation of Amnis Finance. AMI is also used as an incentive to promote the adoption of the Amnis Finance liquid staking ecosystem.

Amnis Finance has a total supply of 1 billion AMI tokens, allocated as follows:

Furthermore, Amnis Finance has a token emission schedule (spread over 48 months) that’s designed to facilitate decentralization, ensure balanced distribution and incentivize participants. The vesting schedule is shown below:

 to reward its early adopters and active contributors to its ecosystem. The details of the AMI airdrop are as follows.

30 million AMI tokens were set aside for the Amnis Retroactive Airdrop, in which 10,000 users received rewards for their participation (based on their rankings). The snapshot for those who qualify for this airdrop ran from Nov 7, 2023, to Mar 25, 2025.

Eligibility was determined based on accumulated retroactive points earned through various activities, such as minting APT to amAPT on Amnis, providing amAPT/APT liquidity on platforms like Liquidswap and PancakeSwap, and depositing stAPT with Aries Markets.

In addition to the Retroactive Airdrop, Amnis Finance has allocated 5 million AMI for holders of Draconian NFTs, with each NFT granting its holder 1,500 AMI tokens.

Furthermore, to commemorate its token generation event (TGE) and honor community support, Amnis Finance launched an Exclusive TGE NFT Airdrop campaign. This initiative allows participants to earn rare NFTs and claim a share of a 1 million AMI reward pool. The claiming period for Exclusive TGE NFT holders began on Apr 2, 2025, and will remain open for 12 months.

 on Bybit’s Spot trading platform. To celebrate this listing, Bybit is holding two Token Splash events in which a total of 

Amnis Finance is revolutionizing the Aptos ecosystem by unlocking the full potential of the APT token through liquid staking. By converting APT into amAPT, users can earn staking rewards while they maintain liquidity and access to DeFi opportunities.

With added benefits like a Retroactive Airdrop and NFT-based rewards, Amnis incentivizes active participation and long-term engagement. As the platform continues to grow, it’s empowering users to put their APT to work more efficiently, increasing both flexibility and yield.

Whether you're a DeFi enthusiast or a long-term holder, Amnis Finance is a powerful tool for maximizing your Aptos staking potential.

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Amnis Finance (AMI): Maximizing APT potential with a liquid staking protocol

DeFi

Options

Altcoins

Dopex is a decentralized options protocol that seeks to passively maximize liquidity for option buyers, minimize losses for option writers, and maximize gains for option buyers.

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Ask most people their preferred investment vehicle in cryptocurrencies and stocks, and rarely will you find people going for options trading as their first choice.

Indeed, this investment niche has remained largely underpopulated, primarily due to the assumption that it's a complex niche best left to professional traders and wall street gurus.

Furthermore, the few who understand the basics of options find trading them on traditional exchanges and 

Let’s dig deep into the Dopex project and how it’s leveraging blockchain technology to simplify options trading.

Options are investment tools that allow you to either leverage or hedge a position in a given market to generate a return or limit downside risk

 is popular in the stock market. However, interest in crypto options trading has grown tremendously, especially among traders looking to survive the 

A crypto options contract is an agreement to sell or buy an underlying asset at a specific price (the strike price) within a given time frame or upon expiration

Essentially, there are two types of options: the 

the asset at the strike price. Usually, if an investor believes that the price of the asset will go up, they enter into a call option contract and go for a put option contract if they expect the price to go down.

For both calls and puts, you will pay an option price, the "premium," to the option writer in exchange for the right to the option contract. 

 writes an option by creating a new option contract to sell a trader the right to buy or sell an asset at the strike price on the expiration date, and collects the premium from the option buyer. 

You choose to trade crypto options if you want to make a considerable profit with limited downside risk, or when you’re tired of stop-loss hunting or constant liquidation, which is common in spots or futures crypto trading.

You can also choose to buy options if you anticipate a significant price movement due to increased volatility in the market. On the other hand, option writers also offer to sell options to collect premiums from buyers when they expect limited price movement.

Crypto options are similar to stock options in that they’re both used as 

, and you profit from the market moving in your favor. 

However, unlike stock options, you aren’t required to buy or sell the underlying asset upon the expiration of the crypto options contract.

Now that you understand the basics of options trading, let’s switch gears to Dopex and see why it’s a protocol to watch in the crypto options trading niche.

As an improvement of the current options market, Dopex offers a suite of 

 (DeFi) products, such as collateral borrowing and staking in option pools. It also utilizes a highly efficient pricing strategy to allow options traders to take advantage of immediate options 

Deribit, among the most prominent centralizedcrypto options exchanges, targets institutional investors and more seasoned traders. As such, there’s a gap in the ever-growing options retail niche that Dopex aims to fill by providing a retail-focused, user-friendly platform with products designed to suit even beginners in crypto options trading.

To achieve this, Dopex’s UX is clean and intuitive, with no needless complexities and lengthy onboarding processes.

 Ethereum scaling solution famous for its advanced security and fast transactions at dramatically low gas fees. However, Dopex also has 

 addresses that allow interaction with other blockchains, such as 

Powered by a dual token system consisting of DPX and rDPX, Dopex’s ecosystem allows its users to interact with the platform in a structured and synergistic way for a wholesome options trading experience.

Dopex’s architecture is designed to provide value for all the players in the ecosystem. As a decentralized protocol, Dopex has the advantage of composability, which allows it to package and interface multiple products to ensure capital efficiency 

 a more challenging feature for CEXs to enact.

Let’s look at how the platform’s core products are built to ensure that the target demographic (that is, the retail investors) can make the most out of DeFi options trading.

 (SSOVs), Dopex's flagship product, work similarly to conventional 

 of crypto assets. An SSOV allows you to lock up your assets for a specified period and earn yield from the staked assets. It lets you sell 

Essentially, when you deposit money into an SSOV (it takes only five clicks to do so), the respective smart contract sells your deposits as European-style covered call 

options to interested buyers at set strike prices that expire at the end of the particular epoch (cycle), either weekly or monthly.

Let's say you’ve decided to write DPX call options for the epoch, and have deposited to the appropriate SSOV at your selected strike price. The vault will immediately present the covered calls in the UI, where option buyers can choose to buy those call options at the strike prices you’ve selected.

The vault allows you to farm vault incentives while also earning from the premium, which comes from selling your covered options to buyers, thereby raising your APR. However, you also risk the option buyers claiming some of your tokens at the end of the epoch if the token price is above the strike price. Hence, a higher APR comes with a higher risk.

There are two sides to an SSOV: writers (covered in the above example) and option buyers. As an option buyer, you get to purchase call options in that epoch and pay a premium that will be credited to the writers. Since Dopex only offers European options, you must wait for expiration to exercise the trade.

 the strike price (in the money), you make a profit. However, if the market moves against you (out of the money), you’ll earn nothing from your purchased options, while still paying the writer the premium.

One of the constraints of SSOVs is that option buyers cannot exit positions mid-epoch and must wait until expiration for settlement. Dopex Option Liquidity Pools (OLP) are built on top of SSOVs, acting as a secondary marketplace for Dopex option contracts. OLPs allow liquidity providers to select a discount rate at which option holders can sell their options anytime. Liquidity providers benefit from discounted options, while option holders benefit from mid-epoch exits.

OLPs provide solutions to some of the nuisances of SSOVs, which include illiquid options positions, non-recyclable liquidity and inability to purchase options mid-epoch.

Dopex also offers the Atlantic Option, a type of DeFi options product with a fixed expiration (similar to European Options) which allows the collateral deposited by the option creator/seller to be borrowed by the buyer of the option at a fee.

The borrowing of collateral is gated through Dopex Atlantic contracts, meaning funds can only be used for pre-specified scenarios. This allows for direct integration with DeFi protocols such as 

 to protect leveraged traders from liquidation. Other DEXs can also integrate 

 strategies, enabling traders to profit from price volatility.

Atlantic Options provide utility for otherwise idle option collateral and allow for an additional source of yield for option writers, while creating unique DeFi products powered by composability.

Dopex’s ecosystem dynamics are powered by two distinct tokens: DPX and rDPX.

DPX is the vanilla governance token for the Dopex protocol and has a finite token supply of 500,000. As a governance token, it’s used to decide on proposals about the weights of DPX rewards, rDPX rebate amounts, SSOV strike prices, and the removal/slashing of delegates.

It’s also used to accrue fees from pools and vaults after every epoch. DPX’s emission schedule and allocation are shown below:

DPX entered the market at $95.83 in June 2021. It performed well in the five months after its launch, experiencing more than a 2,500% increase in price by the end of November 2021.

After a slight price correction in early December, DPX began to rally in a price pump as the project prepared to add more asset classes to its SSOV product and to launch its Atlantic Options.

Following the Atlantic Options launch announcement, DPX spiked to hit an all-time high on Jan 15, 2022, hitting $4,215.41. In the following months, Dopex’s price corrected before rallying again briefly when Dopex launched SSOV v3 in April.

Dopex wasn't spared from the infamous de-pegging of TerraUSD (UST) in May 2022, as DPX plunged to $385.14 on May 13. Since then, DPX has been trading sideways, and the Dopex price chart has yet to show much movement.

PricePrediction experts are highly bullish about Dopex’s price. 

, DPX could exceed $1,000 by 2025 and surpass its all-time high to hit a maximum price of $5,619.01 by 2029.

 share a bullish outlook, believing DPX will hit a maximum of $1,342.30 in 2025. However, they expect slower growth, with Dopex’s price reaching $2,769.48 in 2029.

Despite these enticing price predictions, we do not offer them as financial advice. Rather, we highly recommend that you do your own research before investing in any cryptocurrency.

While the crypto options trading niche is still nascent, Dopex has a lot going on that’s already caught the attention of investors and players in the industry. By focusing on the retail demographic that’s been largely isolated from the current options market, Dopex has a lot of room to grow.

Furthermore, Dopex has collaborated with 

 as an underlying asset in its SSOV, which could up the project's potential, especially with the upcoming 

. Also, the move by Dopex to integrate its Atlantic suite of products with GMX will open many other opportunities for its users.

With the market cap of crypto options projects growing by the day, Dopex holds a lot of potential. Its tokens are loaded with intrinsic utility that will help even options beginners who want to invest in the project.

DPX is available on leading crypto exchanges such as Bybit. You can buy DPX on Bybit by creating an account on the platform and funding it with USDT. Once funded, you can trade the 

 Spot trading pair on Bybit’s intuitive trading terminal.

The DPX/USDT listing opens with not one but 

! The 195 DPX prize pool event runs from Feb 27 to Mar 13, 2023, where all you have to do is deposit 0.4 DPX into your Spot Account to earn 0.1 DPX. You can also stake to earn up to 60% APY with the 135 DPX prize pool event from Feb 28 to Mar 30, 2023.

Dopex has created a platform that makes it simple and lucrative to venture into crypto options trading, even for retail investors, with its intuitive and user-friendly UX design. Its products, such as SSOVs and Atlantic Options, offer investors lucrative options trading opportunities by providing maximum liquidity and reducing losses.

With improved capital efficiency through its options liquidity pools and a host of other DeFi products, Dopex is bringing the vision of decentralization to life.

As the crypto options market grows, Dopex is one project to watch due to its innovative and retail-specific approach to the sector.

Dopex (DPX): Simplifying your Options Trading

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards