About DiffEx

The global options market for equities and currencies surpassed $1.3T in value in 2020. With the value of non-stablecoin ERC20 tokens totaling over $200 billion in market capitalization, a decentralized options protocol for this market doesn't yet exist. DiffEx aims to provide for this untapped market by creating a decentralized platform based on the Ethereum network that allows users to write, trade, and execute options on ERC20 tokens through a smart contract.

All DiffEx trades, balances, and options are managed trustlessly through an open-source smart contract running on the Ethereum network, providing peace of mind to traders and making exchange hacks a thing of the past. Order liquidity is maintained in distributed order books, kept secure by Ethereum’s ECDSA cryptography, creating resiliency and making fraud impossible.

DiffEx's network token, DFFX, will allow traders to stake for reduced platform trading fees and profit-sharing, providing a compelling value proposition as the platform gains users.

With DiffEx you can:

Hedge long and short positions on ERC20 tokens and ETH.

Make calculated moves based on timing of ERC20 project developments.

Earn on long and short-term price predictions.

Earn a yield on held ERC20 tokens and ETH.

DiffEx Dashboard (Beta)

The DiffEx dashboard allows for a seamless trading experience on the DiffEx platform.

  • Look up options for different tokens, strike prices, and expiry dates.
  • View option price graphs and orderbook depth charts.
  • Exercise options you own, and close positions of options you've written
  • Easily track your open and filled orders and balances from the account menu.
  • Alerts keep you up to date with all of your options and account activity.

Try Testnet Beta 


Need more information? Check out the below FAQs and see if they answer your questions.

Smart Contract

DiffEx is based on an Ethereum smart contract. DiffEx uses this smart contract to handle ERC20 and ETH balances, manage option balances and executions, and settle trades. As long as the smart contract exists you can trade options the above layers (orders backend and frontend) are not required.

Rather than storing the exchange's orderbook on chain, which would be costly and slow, DiffEx's orderbook is stored in a database. Thanks to Ethereum's Elliptic Curve Digital Signature Algorithm (ECDSA) orders are signed before being sent to the orderbook, so when the order is filled in the smart contract, it is cryptographically ensured to be accurate and secure. To prevent centralization, third-party exchanges will be able to host their own orderbooks to provide liquidity for the DiffEx contract.

The dashboard has an easy to use option manager, balance manager, charting system, and order manager. There are currently many features on the dashboard and we are always working on more! Similar to the backend, any user can create their own frontend user interface to interact with the contract if they want, and the code for doing so will be open-sourced on launch.

Getting started is really easy!

  • Join the DiffEx Discord server (or Telegram) and request testnet ERC20 tokens to write and sell call options, or get some Ropsten testnet ETH from a faucet.
  • Go to the Dashboard
  • Connect to MetaMask or your Web3 browser of choice and select the Ropsten testnet
  • Deposit testnet ETH or testnet ERC20 tokens to the DiffEx contract
  • Start buying, selling, or executing ERC20 options contracts on the testnet!
How do I Write Options?

To write an option, ensure you have enough underlying asset to write it (100 DFXT for calls or 100 times strike price ETH for puts). Then, either create a new option type by clicking the + button in the option selection menu or select an already written option, create a sell order, confirm the option creation transaction, wait for it to be mined, and confirm the order.

You can execute options in the "Exercise Options" menu at the bottom of the dashboard. By exercising a call, you are buying 100 DFXT from the options writer for 100 times the option's strike price, in ETH. By exercising a put, you are selling 100 DFXT to the option writer and in exchange they send you 100 times the option's strike price in ETH.

To ensure security, certain actions, such as filling orders, may take a few block confirmations to show up on the dashboard. Other actions such as placing and cancelling limit orders, however, are instant.

Contact Us

Have questions? Want to get involved? Reach out to us and we will get back to you as soon as possible!

Thank you!

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