What is DODO(DODO) | Data, market cap and DODO price chart, data and market cap (DODO) .
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What is DODO (DODO)?
DODO is a Decentralized exchange (DEX) that uses the Proactive Market Maker (PMM) algorithm built on Ethereum and Binance Smart Chain (BSC). Focused on making DeFi liquidity more accessible, DODO’s products include SmartTrade trading and aggregation, Crowdpooling/Initial DEX Offers (IDO), liquidity pools, and mining.
The DODO developer team conceived the Proactive Market Marker (PMM) algorithm in April 2020 and quickly iterated on the proof-of-concept mechanism until May 2020. Two months later, the project finished the Smart contract development phase and completed a comprehensive audit. DODO was pre-launched with an early campaign on 2020-08-15, with the participation of traders and liquidity providers. According to information from DODO project developers, DODO can provide better execution than Uniswap with only 1/10th of the combined capital while maintaining a 40% APR return rate for LPs.
Built on the Ethereum network, DODO developers have embarked on building v2 and implementing dual-chain for both the Ethereum and Binance Smart Chain networks. The v2 beta was launched on 22/02/2021 with additional features including:
- Liquidity source aggregation and SmartTrade
- Asset issuance tool (crowd pooling)
- Create a custom proportional liquidity market (DODO Vending Machine)
- Flexible Liquidity Pool solution for professional market makers (DODO private pool)
- Liquidity mining rewards for the stablecoin pair BUSD-USDT on BSC.
Along with the launch of v2, the platform has launched a new token, which serves as both an administrative token and a utility token on the platform.
|Q4 2021||Q1 2022||Q2 2022||Q3 2022||Q4 2022|
|• Deploy Moonriver
• Deploy Aurora
• Privacy Transactions
• Build a Data Index
• Fragment NFTs
• Set Up NFT Tools
• Create a Profile
• Create a Homepage
• Build a Liquidity Mining Campaign
|• Build a Limit order
• Set up a 0-gas trading mode
• Build a Trading Agent (Incomplete)
• Build a trading agent
• Avalanche implementation
• Support for 3rd party LP mining
• New token issuance mechanism for Crowdpooling
• Build a document center
|• Crowdfunding pool building v2
• Complete UIUX upgrade
• Build a trading chart
• Build PMM Calculator
• DODO Tokenomics upgrade (Incomplete)
• Build a standalone NFT platform (Incomplete)
|• Build DODO Starter
• Building Cross-chain Bridge Aggregator
• Build Adaptive long-tail coin market making
• Building asset liquidity control tool (Incomplete)
• Building Margin trading & perpetual contract incubation (Incomplete)
|• Build DODO Widget • Set Up Chrome Extension (Incomplete) • Join DAO Ecosystem (Incomplete)|
How does DODO work?
DODO is a DEX exchange that uses the Proactive Market Maker (PMM) algorithm built on Ethereum and Binance Smart Chain (BSC). PMMs consist of liquidity groups that are more capital efficient than traditional AMMs. The algorithm aims to support a single token offering, reduce temporary losses, and avoid slippage. Specifically, dodo’s products are described as follows:
CEX brokers often use an order book model, in which users can enter the market by setting up Limit or Market orders to adjust the liquidity of the order book. First-generation DEX exchanges such as Uniswap or Sushiswap have scrapped order books and replaced them with automated market makers in the form of Constant Function Market Makers (CFMMs).
In the mechanism, assets are converted in a 1:1 ratio. PMM makes asset ratios and curve slopes more flexible by using price oracles to gather information about market prices. The platform will then provide sufficient liquidity close to the market price for all asset classes by actively shifting the price curve to minimize permanent losses. This method will minimize the risk of slippage.
Simply put, PMM is an asset management and inventory strategy. When the number of an asset class drops low, the PMM algorithm automatically increases the list price of this asset class to prevent the market from buying massively leading to a serious shortage.
- SmartTrade trading and aggregation
Built on Ethereum and BSC, DODO allows transactions between 2 arbitrary tokens on the same network. The SmartTrade feature aims to find the best routing for orders from aggregated liquidity sources to provide users with the best trading prices.
Users can distribute tokens and launch the Liquidity Market.
LPs can create and manage their own market-making strategies through the DODO Vending Machine and DODO Private Pool. This feature is a permissionless process and users can set up a liquid market with price curves that suit their needs.
Highlights of DODO
- Low slippage: With AMM design using Oracle Price, users trading on DODO can customize the level of slippage and build the appropriate price curve (as explained above). Oracle Price this platform uses is provided from Chainlink, where the price Oracle determines is the average price of many different nodes.
- No temporary losses: The Liquidity Pools on DODO are completely separate, so how many tokens users add when unstake will receive the right number of tokens?
- Low opportunity cost risks: Users can deposit a certain part of their assets into the liquidity pool and can unstake at any time while still receiving incentives from the trading pair.
- Allows multiple transactions simultaneously: DODO’s smart contracts are built on the ERC20 token model, and users can make multiple transactions together.
- Building vDODO token (proof of membership token): Give holders the right to vote on community governance proposals proportional to the number of owners.
- Build a lite version of the application: provide users with a favorable experience.
- Token Name: DODO.
- Ticker: DODO.
- Blockchain: Ethereum.
- Contract: 0x43dfc4159d86f3a37a5a4b3d4580b888ad7d4ddd.
- Token type: —–
- Token Standard: ERC-20.
- Total Supply: 1,000,000,000 DODO.
- Circulating Supply: 140,610,935 DODO
- Community Incentives: 60%.
- Core Team/Future Hires/Advisors: 15%.
- Investors: 16%.
- Operations/Marketing/Partnerships: 8%.
- Initial Liquidity (IDO): 1%.
Token release schedule
Below is a chart describing the DODO token issuance process
|Round||Token Amount||Token Price||Raise|
|Seed Sale||60,000,000 DODO||$0.01/DODO||$600,000|
|Private Sale||100,000,000 DODO||$0.05/DODO||$5,000,000|
Token Use Cases
DODO is the native governance token of the platform with the following applications:
- Administer: DODO token holders can create and vote on proposals to manage the platform.
- Crowdpooling & IDO Allocations: DODO holders will be allocated tokens to participate in community & IDO campaigns on the platform.
- Staking: Users can get additional DODO rewards by Staking their DODO Tokens.
- Reduced transaction fees: DODO token holders receive reduced transaction fees when trading on the platform.
- Mint vDODO: Users can stake their DODO tokens for mint vDODO and have the opportunity to receive additional membership rewards and dividends from trading fees.
The project’s development team, investors, and partners
The DODO project was conceived and built by Chinese DeFi developers. They are experienced and have held many important positions in the blockchain industry. Of which:
- Mingda Lei: Architect, Ph.D. in physics at Peking University, the man behind the Market-marking algorithm. He used to work for DDEX as a policy developer for the project, which is a DeFi project based in China.
- Qi Wang: Co-founder of DODOex, founder of DOS Network – Oracle layer 2 projects in China. Before entering the blockchain industry, he worked as a software developer for large companies such as Oracle, and Pure Storage.
- DianeDai: The 3rd co-founder of DODOex, and founder of a DeFi-based Subscription-based WeChat channel called DeFi Labs.
DODO project received the attention of many investors such as Binance Labs, Coinbase Ventures, and Framework Ventures …
DODO has expanded on various blockchain platforms and established partnerships with many big names in the cryptocurrency space, such as Binance Smart Chain, Solana, Arbitron. Besides, DODO also cooperates with other units such as The Graph, Frontier … with the ambition to expand the platform in the future.
Above is a summary of information about DODO as well as the outstanding features of this project. It can be assessed that the DODO token has certain potentials in the future, hopefully with the information in this article, you have the most overview of this project and can consider choosing DODO as an asset class in your portfolio.