The matter-antimatter asymmetry may be explained through CP-violation by observing a permanent electric dipole moment (EDM) of subatomic particles. An advanced approach to measure the EDM of charged particles is to apply a unique method of "Frozen spin" on a polarized beam in an accelerator. To increase the experimental precision step by step and to study systematic effects, the EDM experiment can be performed within three stages: the magnetic ring COSY, a prototype EDM ring and finally all electric EDM ring. The intermediate ring will be a mock-up of the final ring, which will be used to study a variety of systematic effects and to implement the basic principle of the final ring. The simulations of beam dynamics of prototype EDM ring with different lattices are performed to optimize the beam lifetime and to minimize the systematic effects. The preliminary design of prototype EDM ring helped to estimate the beam losses by using analytical formulas. Further investigations on enhancing EDM measurement precision and reducing systematic effects are in process.