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What is Dopple Finance (DOPX) token?

By Emily Rys | October 25, 2021

What is Dopple Finance?

Dopple Finance is a Stablecoin DeFi ecosystem on the Binance Smart Chain. Our main product is a decentralized stable coin exchange, which allows users to efficiently swap stablecoins and pegged assets at the best rate. Dopple Finance currently supports the following stablecoins: BUSDUSDTDAIUSDC, UST, TUSD, USDN, DOLLY, KUSD.

Liquidity Providers earn trading fees in stablecoins by supplying funds to the underlying liquidity pools. Liquidity Providers can also earn Dopple tokens as additional rewards by farming LP tokens or by staking Dopple tokens.

Stablecoin Swap

The Problem

Trading between stablecoins and assets that are pegged to the same value, such as 1 USD, should be as simple as exchanging 1–1. The issue is that trading between these types of assets can be expensive and inefficient, resulting in lost capital due to high slippage and transaction fees.

Our Solution

Dopple allows users to efficiently swap stablecoins and pegged assets on the Binance Smart Chain, by using a StableSwap algorithm that is specifically designed for optimized swapping between stablecoins, with minimal slippage and low transaction fees. When you swap stablecoins on Dopple finance you only pay a 0.045% trading fee (compared to 0.25% on PancakeSwap), which is broken down as follows:

0.018% – Redistributed to liquidity providers. 0.027% – Sent to the Dopple treasury. Dopple Finance currently supports the following stablecoins: BUSDUSDTDAIUSDC, UST, TUSD, USDN, DOLLY, KUSD.

Liquidity Pools

Whenever someone swaps on Dopple Finance, the trader pays a 0.045% fee, of which 40% is distributed evenly between liquidity providers of the underlying liquidity pools.

There is no deposit fee for providing liquidity. There is no withdrawal fee if the liquidity is withdrawn after 30 days and there is a 0.1% withdrawal fee if the liquidity is withdrawn within 30 days after being deposited.

Yield Farming & Staking

Earn DOPX with your LP tokens

When you add your stablecoins to a liquidity pool, you will receive Liquidity Pool (LP) tokens. You can use these LP tokens to earn a yield on the DOPX farms, while still earning a trading fee reward from providing liquidity. LP tokens can be withdrawn at any time however they must be staked to earn DOPX.

DOPX Staking

Once you have a balance of DOP within your wallet, either by earning it through farming or purchasing it on Twindex, you can stake your DOPX tokens to earn even more DOPX.

DOPX – Dopple Exchange Token

Max Supply: 100,000,000

The DOPX token is used as a utility token that is required to mint KUSD tokens.

The DOPX token accrues its value by its requirement to collateralize KUSD. As KUSD usages grow stably, the Collateral Ratio will decrease, hence consuming even more DOPX to mint more tokens. This in turn decreases the circulating supply of DOPX and drives its price up.

Symbol: DOPX

Name: Dopple Exchange Token

Contract Address: 0x802a183ac9f6b082716dfee55432ed0c04acb49a

Chain: Binance Smart Chain (BEP-20)

Maximum Supply: Unlimited

KUSD token

Kelly USD (KUSD) is a fractional-algorithmic stablecoin partially backed by USDC (a stablecoin) and DOPX (a utility token). The token is partially backed by USDC that represents its value and is also backed by DOPX which increases its utility. The ratio between the stablecoin and the utility token is dynamic and adjusts according to the market. This ratio is called the Collateral Ratio.

This fractional-algorithmic token combines both advantages of asset-backed stablecoins and algorithmic stablecoins together. Unlike fiat currency, KUSD has its value backed by the collateral while maximizing its capital efficiency that reduces the required collateral as much as possible.

This is where algorithmic stablecoin is good at – creating value without having to have backed assets.

To keep the KUSD price at $1 (1 US Dollar), we present several mechanisms to help keep the price on the peg. Anyone can make a profit when the price is off the peg by minting and redemption. As the ratio changes, anyone is also incentivized to keep the backed assets correlated to the Collateral Ratio with buybacks and re-collateralization.

Utility

The KUSD token will be utilized in a lot of ways. Initially, KUSD can be used for stablecoin farming like other stablecoins. Soon, KUSD will be used as the main currency on Twindex.com, where synthetic assets are traded. Increasing the adoption of KUSD will also help with the price of DOPX tokens, as discussed in the DOPX token.

Investments

To upgrade from the current “DOLLY” token, we also make adjustments that allow the stablecoin collateral part to be utilized and to create revenue for the platform by investing a certain amount of the collateralized stablecoins to trustworthy stablecoin investment platforms such as Venus Protocol.

Safeguards

By investing in third-party platforms, there is a risk of attacks on the platform we invested in. At times, there might be high demand for redeeming KUSD tokens. The investment might be withdrawn to make collateral ready.

Apart from that, some amount of KUSD mint and redeem fees will be stored in the reserve to make sure that there will be a sufficient amount to redeem.

In addition, we also have the circuit-breaking trigger that we could use upon careful discretion at an appropriate time to prevent a bank run, which would harm the entire ecosystem

​How and Where to Buy DOPX token?

DOPX token is now live on the Binance mainnet. The token address for DOPX is 0x802a183ac9f6b082716dfee55432ed0c04acb49a. Be cautious not to purchase any other token with a smart contract different from this one (as this can be easily faked). We strongly advise you to be vigilant and stay safe throughout the launch. Don’t let the excitement get the best of you.

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…

Source: Coin Introduction <https://morioh.com/p/87253cd13f54>

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