DODO is a decentralized exchange trading protocol for Web3 with the best liquidity to trade any assets on multiple chain platforms. The Proactive Market Maker (PMM) algorithm helps in providing liquidity pools with strong capital requirements. This coupled with the versatility of diversified liquidity products and solutions makes it a great combination for all crypto seekers without the fear of losses that cannot be recovered.
based on PMM
The DODO team has developed itself based on Automated Market Makers (AMMs) to improve capital efficiency by moving book based exchanges from an acceptanceless on-chain liquidity protocol. DODO’s PMM differs from traditional AMMs because it efficiently and proactively distributes asset ratios while anticipating market conditions. For example, using an AMM to spread crypto assets across the entire price range would use up funds roughly equal to the market price, while saving the rest. The result is the ineffectiveness of capital.
Adopt DODO’s PMM by actively modifying your buy and sell orders in line with the current market price, which follows the behavior of centralized exchanges. The results offered by DODO pools are flexible and acceptable depending on a variety of markets. In addition, PMM can be modified using external price estimation to mitigate losses in various cases, ranging from single sided liquidity to fully convertible broad market making strategies.
SmartTrade Trading and Crowdpooling
DODO facilitates trading between two arbitary tokens on the same network through SmartTrade. SmartTrade is a decentralized liquidity aggregation service. It provides traders with best practices and a suitable swap rates between the two tokens.
Through crowdpooling, DODO ensures equitable token distribution and facilitates a liquidity market. Working on the principle of call auction mechanism of securities, users are assured of erroneous actions like bots (staying at the same level) or front running (fast rushing) and participating in liquidity offerings with DODO Private Pools. for flexibility. This gives liquidity providers the flexibility to design and manage their market making strategies. Overall crowdpooling enables efficiencies through the ability to create liquid pools, strengthen distributed asset creation as well as issue new assets at the lowest cost. This increases the usage of the platform manifold.
Trade relaxation in different assets
DODO offers users the flexibility to trade across a wide range of asset classes, be it fungible, non-fungible, mainstream or long tail investments. DODO’s math-based efficient routing algorithm enables optimal return on investment with minimal downside risks. Built on Ethereum and Binance Smart Chain (BSC), DODO’s core thrust is to create DeFi liquidity that is seamless through SmartTrade trading and aggregation, Initial DEX Offerings (IDOs), Pools and Mining, as well as simplicity Emphasis is placed on the estimation, flexibility and merits of multi-chain spectrum.
Improvements to the Toconomics Model DODOv2
In order to make community governance proposals more accessible, with authority commensurate with the number of tokens held, the great DODOv2 targets three user categories. The three user categories include traders, liquidity pool creators and liquidity providers. A common platform has been provided to everyone for value and incentive driven growth.
A new vDODO token will be introduced to serve as a proof of membership in DODO’s loyalty program. These tokens will give dividends to the members from trading fees and will give membership rewards. Trader mining and combiners will encourage such operations with the DODO platform. DODO also provides the flexibility to redeem vDODO with DODO tokens by paying a variable exit fee. This fee will be distributed among all the remaining vDODO holders who have not exited.
Which team is behind DODO?
DODO is relatively new to the DeFi space, having launched in August 2020. The founders of this platform are known by the pseudonyms Dianne Dai and Radar Bear. DODO was raised in August 2020 with seed funding of $6 million, which was later funded by $5 million by a group of venture funds started by Binance Labs, Pantera Capital and Three Arrows Capital. The future of DODO looks very attractive with increased private sales coupled with interest from crypto giants such as Coinbase Ventures, CMS Holdings, Galaxy Digital.
DODO Lite is for users who prefer a simple design with every essential feature. Its sleek design with an emphasis on usability and simplicity is an offering for a large user community. The original DODO app will also be available for those who prefer the older version.
Great gift from WazirX
WazirX has partnered with DODO with an amazing $71,000 gift. These gifts will take place in two slots – the first is from March 1 to 4, featuring signups, YouTube Live and AMAs with DODO cofounder Diane Die, trivia and quizzes with exciting prizes. The slot from March 14-18 includes a 96-hour long marathon training session with prizes worth Rs 31,50,000 for the top 400 DODO traders.
DODO Trading is live on WazirX with Buy, Sell and trade on Rupee and US Dollar markets.
(This article was not written by Moneycontrol journalists)
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