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About DODO
Key Points
- DODO is a DeFi protocol and on-chain liquidity provider with a unique proactive market maker (PMM) algorithm.
- PMM pricing mechanism gathers accurate market prices for assets and provides liquidity close to these prices.
- DODO offers better liquidity and price stability than automated market makers (AMM).
- Initial DODO Offering (IDO) allows new crypto projects to list for free.
- DODO’s smart contract operates as an ERC20 token on the Ethereum network.
Founders and Funding
- Founded by Diane Dai, Radar Bear, and an anonymous development team in August 2020.
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About DODO: Empowering a New Era of Decentralized Trading
DODO: A Revolutionary Decentralized Trading Platform
DODO is a decentralized finance (DeFi) protocol and on-chain liquidity provider, distinguished by its innovative proactive market maker (PMM) algorithm, which strives to provide superior liquidity and price stability compared to traditional automated market makers (AMM).
The PMM pricing mechanism, which emulates human trading behaviors, leverages oracles to gather exceptionally accurate market prices for assets. It subsequently provides sufficient liquidity proximal to these prices, thereby stabilizing the portfolios of liquidity providers (LP), mitigating price slippage, and eliminating impermanent loss by facilitating arbitrage trading as a reward.
DODO also extends its support to fledgling crypto projects by offering a complimentary ICO listing through its innovative Initial DODO Offering (IDO) mechanism, which uniquely requires issuers to simply deposit their own tokens.
DODO’s smart contract is seamlessly integrated as an ERC20 token on the Ethereum network, ensuring a secure and efficient operational framework.
The Visionaries Behind DODO: Meet the Founders
Dodo officially debuted in August 2020, the brainchild of Diane Dai, Radar Bear, and a talented anonymous development team. This innovative venture swiftly garnered a substantial $600,000 seed round, spearheaded by Framework Ventures.
In September 2020, the team proudly declared the successful culmination of an
additional $5 million private sale funding round, spearheaded by esteemed
investors Pantera Capital, Binance Labs, and Three Arrows Capital.
The private sale round garnered significant investment from a plethora of esteemed venture capital firms, cryptocurrency exchanges, and trading firms, notably including Coinbase Ventures, Galaxy Digital, CMS Holdings, and Alameda Research.
DODO’s Distinctive Edge: A Revolutionary Approach
DODO distinguishes itself as a premier liquidity provider, boasting exceptionally low transaction fees and minimal price slippage, courtesy of its innovative PMM algorithm, pioneered in April 2020.
The team asserts that their PMM algorithm yields superior pricing compared to its AMM counterpart, Uniswap, owing to a more gradual price curve.
The PMM aggregates funds at prices proximal to market rates, thereby establishing a sufficient liquidity buffer that diminishes rapidly as the price deviates further from the market price. DODO dynamically adjusts market prices to attract arbitrage opportunities, thereby stabilizing the portfolios of liquidity providers.
This arrangement guarantees more favorable pricing, optimized fund utilization, and reduced price slippage, thereby minimizing single risk exposure and eliminating impermanent loss (explained here).
For traders, DODO provides ample liquidity on par with that of centralized exchanges (CEX), which can be seamlessly integrated with smart contracts to facilitate on-chain transactions, including liquidation and auctions. Moreover, arbitrageurs can capitalize on price discrepancies between DODO and other exchanges.
Liquidity providers are afforded the flexibility of not being bound by a minimum deposit requirement, nor are they constrained by the type of asset they can provide. Furthermore, LPs have the autonomy to create their own bespoke trading pairs, deposit their own tokens to mitigate price risk, and are also entitled to receive a proportion of DODO transaction fees as a reward.
DODO also attracts novel cryptocurrency projects with a complimentary listing via an Initial DODO Offering (IDO). Notably, unlike Automated Market Maker (AMM) protocols, DODO does not necessitate quote tokens, and IDO projects merely need to deposit their native tokens into the liquidity pool. Subsequently, the PMM (Proactive Market Maker) generates its own ask-side depth. To initiate an IDO, a project simply needs to set the oracle price to a constant value. Furthermore, liquidity can be enhanced by depositing additional quote tokens.
What Is the Circulating Supply of DODO (DODO) Coins?
The total supply of the DODO token is capped at a staggering 1 billion (1,000,000,000), with a current circulating supply of 12 million coins.
DODO’s total supply will be allocated as follows:
- Fifteen percent allocation to the core team, future hires, and advisors
- Sixteen percent allocation to investors
- One percent allocation to initial liquidity provision (IDO)
- Eight percent allocation to operations, marketing, and partnerships
- Sixty percent allocation to community incentives
The DODO Network’s Security Mechanisms: A Robust Framework
DODO is a decentralized protocol, inherently resilient to centralized network attacks that rely on a single point of failure. Notably, DODO’s smart contracts underwent a rigorous audit by PeckShield, a reputable blockchain security company, on July 10, 2020. The comprehensive audit report on DODO is available
here
.
It is essential to acknowledge that DeFi protocols, being innovative and high-risk projects, are inherently susceptible to coding vulnerabilities and security flaws that can be exploited by hackers, potentially leading to financial losses.
Where to Acquire DODO (DODO) Cryptocurrency
DODO is now listed on prominent centralized exchanges, including MXC.com, L Bank, and BiKi, as well as esteemed decentralized exchanges (DEX) such as Uniswap V2, Mooniswap, and Dodo itself. For a comprehensive list of available trading platforms, please refer to our dedicated crypto exchanges page.
Seeking to acquire cryptocurrencies such as Bitcoin and Ethereum directly using your credit card in the fiat currency of your preference? This comprehensive guide will walk you through the process.
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