Dopex is a decentralized options protocol that aims to maximize liquidity, minimize losses for option writers and maximize gains for option buyers. Option pools are created for all options on Dopex, which allows anyone to participate and deposit base/quote for their respective pools to gain passive income from option writing and purchasing discounted options through liquidity pools which could then be arb-ed for an instant profit. The protocol is governed by users via a limited supply governance token, DPX, which would also be used for collecting protocol and app layer fees. Dopex also offers a rebate system for losses incurred for option writers based on exercised options for every epoch. The rebates are paid in the form of a theoretically infinite supply token, rDPX.

DPX is the limited supply governance token for the Dopex protocol and is used to vote on protocol and app level proposals. Apart from being a vanilla governance token, DPX also accrues fees and revenue from pools, vaults and wrappers built over the dopex protocol after every global epoch. The DPX token can also be used as a proxy for voting in decisions based on proposals offered by the community. Similar to existing projects that follow this method such as MakerDAO, Compound, yearn.finance etc. Dopex will make use of the DPX token to vote on and pass proposals to actively govern the protocol and ensure decisions are made to improve it and achieve it's goal of being the best source for liquid options. Some of the initial governance duties are controlling the IV multiplier of the option pools, controlling the strike range of the option pools, controlling the IV cap of the option pools.