Treasury Update - March 2023

Treasury Update - March 2023


“Ah yes mhmm indeed when you put it that way it is most elementary and evidently you add the 3 and carry the 1 and mhmm indeed.”

It’s true.It’s all true.

Just a matter of simple accounting, after all.

Onward and upwards to another thrilling installment of Dopex’s Treasury Report for the month of March 2023!


This report is based on Dopex’s protocol-owned wallets which can be found at the following addresses:

● 0x04e38cdc3559fe6d91291cf4084d16340e4b585f

● 0x7d6fadb02e70bfb6325cfd6ec5605e552115aa76

● 0xb8689b7910954bf73431f63482d7dd155537ea7e

● 0x2fa6f21ecfe274f594f470c376f5bdd061e08a37

● 0x738ee36d7b860cefff526553e28a2b8928de4483

● 0x0a95222b5ed8690a0279993e63903687536ccecd

These have been masterfully compiled in this Zapper profile here for your ease of perusal.

As per usual, some funds have been added or omitted from the protocol balances for the following reasons:


MM funds (total ~$635,512)

We have funds deployed to external MMs amounting to 937 $DPX, 56 $ETH and 261,501 $USDT.


Written Options (total ~$688,597)

We have funds deployed to the following Dopex products from the 0x7d6 account:

AP Perp

187,000 $USDC has been deposited to buy the proverbial dip on $ETH.

AP Straddles

437,144 $USDC has been deposited across ETH, DPX, rDPX and MATIC straddles.


50,000 $USDC and 10,250 $ARB (thank you max-tier community airdrop) is enjoying risk-minimized LP rewards on our new scalps product.

Source: TZ said so

Arbitrum Airdrop (total ~$5,446,981)

Due to Dopex being hip and cool and revolutionary (these exact words were used), we will be receiving a 3,863,107 $ARB for our Arbitrum airdrop. This amount is awaiting distribution but has been added to make our finances look better haha.

Source: Arbitrum DAO Airdrop spreadsheet


Dust Amounts

Various dust amounts from our vlCVX rewards have been omitted since we have plenty of money and this is what we call “immaterial”.


See attached for account balance as at 31 March 2023 (Australia time of course).


Holy shit. Look at them go.

For a nice little pie chart of breakdown per asset, please see below:


Ah yes. Interdasting indeed.

A little bit of rebalancing since the last Treasury Report? Read on for a little breakdown of our major changes!


This month saw a massive injection from Dopex’s receipt of 3,863,107 $ARB (~$5,446,981 Biden Bucks at time of writing) from the Arbitrum DAO airdrop. This has contributed to our exceptional MoM gain of 52.50%!

You may also have noticed that our stablecoin holdings have migrated for $USDT - this transition was a risk management strategy that occurred before the $USDC depeg (incredible we know).

We have purchased a neat little stack of $ARB to accompany our airdrop which should be received shortly. This $ARB is deployed on Trader Joe’s liquidity bins as an additional source of shekels.

The treasury has also accumulated a neat little stack of 484,077 $PLS (~$488,918 at time of writing) for an average cost of $1.03.

Down horrendous. I guess we are long-term $PLS holders now.


Another top tier Treasury Report for Dopex and the lights have been successfully kept on for another month.

Let’s pump those numbers up!

Until next time, my budding accountants.

Warm regards,

CFO (not to be confused with CEO)



About Dopex

Dopex is a decentralized options protocol that aims to maximize liquidity, minimize losses for option writers and maximize gains for option buyers — all in a passive manner. Dopex uses option pools to allow anyone to earn a yield passively. Offering value to both option sellers and buyers by ensuring fair and optimized option prices across all strike prices and expiries. This is thanks to our own innovative and state-of-the-art option pricing model that replicates volatility smiles.

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