gm Plutons,
Despite less than optimal market conditions, it’s an exciting time to be in the Dopex ecosystem. With IROs and veDPX recently going live and Atlantics and rDPX v2 around the corner, there’s a lot to look forward to. Bear market or not, there’s most definitely real innovation happening behind the scenes.
Out of the impressive Dopex release lineup, the most significant one for Plutus is without a doubt veDPX. With the introduction and release of veDPX, Dopex releases governance and the Plutus vision begins to materialize. Our value proposition for users is simple yet profound — maximum rewards with maximum liquidity. If you’re just catching up or want a refresher on why aggregating governance is valuable, we highly recommend you read this article. In this joint article you’ll learn about what’s coming up next for both the Plutus and Dopex teams!
Using Plutus to Maximize Your DPX Rewards
With veDPX, users are able to lock their DPX for 1–4 years on the Dopex platform, gaining governance powers, emissions and a right to DPX platform fees. As of now, veDPX lockers receive yield from protocol fees and from $DPX rewards.
Shortly after, other utilities will be slowly rolled-out, including (in no specific order):
- Voting on governance proposals
- Voting on Interest Rate Options strikes
- Voting on Gauge weights to decide on emissions
- Voting on strikes for put pools
- Voting on strikes for call pools
- Deciding on future incentives for all our products
- Deciding on new SSOV vaults
- Deciding on new IRO vaults
- Deciding rDPX V2 Parameters
- Choosing Y/N Vaults
- Large veDPX holders can arbitrage the dpxUSD pool
With more to come.
With Plutus, users can mint plsDPX and stake it in Plutus. Under the hood the DPX used to mint plsDPX is max-locked as veDPX on the Dopex platform. Not only do plsDPX stakers enjoy liquidity due to our plsDPX-DPX pool, they also receive PLS emissions and productive treasury yield on top of getting max-locked rewards from the underlying veDPX.
The implications of veDPX on $PLS
Plutus is built upon the assumption that governance is valuable. In the case of DPX, that value comes from being able to direct emissions, vote on platform decisions (strikes, IRO pools etc.) and earning platform fees. When users mint and stake plsDPX, they effectively get significantly higher yield on their DPX while retaining a liquid position, but in return forfeit their governance power. This governance power gets aggregated to $PLS lockers.
We’re working hard to deliver our governance module soon, which will include entirely new locking and bribing mechanisms for $PLS. Excitingly, the Dopex team has already communicated that they fully expect bribes for veDPX for multiple of their products. For a deeper dive, read their latest article here.
In tumultuous times like this it’s important to retain a big picture view and support teams that deliver regardless of market conditions. Dopex maturing as a platform is thrilling, as that directly means we’re seeing options coming on-chain not only in the traditional sense but also in new and innovative ways through IROs and Atlantics. We’re incredibly excited and grateful to be in a place where we can build and expand on this vision.
Onwards!
A Message From Our Friends at Dopex
What a week it was at Dopex!
Before beginning, we congratulate the Plutus team and its community for locking an astounding 5% (10,000 DPX) of the DPX supply before veDPX was even released! As we’re writing this article, that number has now soared to over 12,000 DPX for 6.29% of the supply locked.
With our new veDPX tokenomics launch behind us and our reworked liquidity farms release, we thought there was no better time than now for a joint article and a little alpha leak.
Following the release, users now have an important choice to make on whether to lock their DPX or not. With this in mind, we want to ensure that every user is as best informed as possible with their decision moving forward.
Our new tokenomics, as mentioned previously, make it so platform rewards, fees, and governance rights remain reserved for those who lock their tokens. Furthermore, for users to have access to the most maximized value per DPX would require a full 4-year lock.
This brings us to the elephant in the room, the main problem, the liquidity.
We understand that not everyone can digest having their funds locked for this amount of time or have a shorter investment horizon.
And this reinforces why we support Plutus in its vision of aggregating governance for the whole Dopex ecosystem while offering maximum rewards and liquidity to the community.
So let’s cut to the chase. What are your options?
1- You can lock with Dopex and enjoy 100% fees, rewards and governance at the cost of having your capital locked
2- Deposit in Plutus for plsDPX and enjoy peace of mind liquidity with max-locked veDPX rewards, $PLS emissions and productive treasury yield at the cost of your governance rights
Before moving on, there is one more way users can generate yield through their DPX.
As you may have noticed with the announcement here, Dopex is renewing its liquidity farms DPX/ETH and RDPX/ETH. Users need to understand that these farms are temporary and will be available until the release of dpxUSD, with a very decent 20 DPX in rewards emitted to the DPX/ETH pool daily.
As for the alpha leak, we are happy to announce that dpxUSD/DPX will be the replacement of our DPX/ETH liquidity farm and that it will be possible to “lock” the LP token for up to 4 years to receive veDPX! More details will be announced closer to the V2 release, so buckle up because many changes will be occurring in the near future.
- The Dopex Team
