Decentralized exchanges have several advantages, the most notable of which are anonymous and peer-to-peer transactions. However, many are difficult to use and have low trading volumes. Currently, AMM confronts the difficulty of resolving issues such as slippage and impermanent losses in the DeFi landscape. DODO Exchange employs a modified formula known as a Proactive Market Maker (PMM), which delivers low slippage to address this issue.
So, what makes DODO Exchange different from the other DEXs? Can DODO Exchange “knock out” all of its AMM rivals? Is DODO Exchange a good investment? Follow this article below to understand more about DODO Exchange.
- What is DoDo Exchange?
- What is DoDo Exchange v2?
- What is DODO token?
- DODO NFT Vault
- How does DODO Exchange work?
- Detailed information about DODO token
- DODO Token Price
- DODO Token Metrics
- DODO Token Allocation
- DODO Token Sale
- DODO Token Release Schedule
- DODO Token Use Cases
- How to get DODO Token
- How to buy DODO Token
- How to store DODO - Coin98 Wallet
- DoDo Exchange Roadmap
- Team, Investors, and Partners
- Is DODO a good investment?
What is DoDo Exchange?
DoDo Exchange is a decentralized exchange leveraging the Proactive Market Maker (PMM) algorithm built on Ethereum and Binance Smart Chain (BSC). Focused on making DeFi liquidity more accessible, DODO’s permissionless product suite consists of SmartTrade trading and aggregation, Crowdpooling/Initial DEX Offerings (IDOs), pools, and mining.
What is DoDo Exchange v2?
The impermanent loss suffered in Uniswap liquidity pools ends up as a permanent loss all too often. Other AMMs are a turnoff for traders due to the massive slippage that can occur with larger orders. These two factors are what make DODO such an innovation in the decentralized exchange space. With the advent of DODO v2, launched on February 22th, the platform is entering its next phase of development.
One of the concerns about the platform is that the LPs might still lose money without sufficient trading volume if the overall fees for providing liquidity are too low. For LPs to earn persistent profits, trading volume must rise constantly.
The DODO team is addressing this in DODO v2 by introducing new incentives for traders, pool builders, and liquidity providers. The team recognizes that token reward is a successful method of acquiring new users. The DODO team has created many token incentive schemes to attract users.
What is DODO token?
DODO is the DODO platform's native governance token, and it serves as the ecosystem's governance as well as a reward for Liquidity mining.
In terms of ecosystem governance, DODO splits the process into three stages:
- Admin DAO (due to expire at the end of 2021): The highest decision-making authority is in charge of the whole DODO ecosystem and has the authority to modify how the other two DAOs operate.
- DAO Risk Control (2021): In charge of modifying and fine-tuning different risk factors.
- Earn DAO (2021): This DAO handles income distribution on the DODO network.
DODO NFT Vault
The DODO NFT Vault is price discovery and liquidity protocol for non-standard assets, which allows users to create new NFTs or use existing NFTs and pledge them into the DODO NFT Vault. The Vault is established to create liquidity pools to trade these NFT pieces.
Those pieces can be kept unique or fractionalized to divide the NFTs in the Vault into many pieces with fungible tokens issued to represent them.
How does DODO Exchange work?
The Proactive Market Maker model of DODO Exchange uses off-chain price oracles to provide real-time, accurate pricing information about the assets on the platform. The data provided by the oracle then be used to calculate the ideal market price. This PMM model encourages only arbitrage trading that helps to ensure the exchange price matches that of the market price.
DODO Exchange's outstanding features:
- Low slippage: As AMM is designed to take advantage of Oracle pricing, DODO prices will have comparatively low slippage.
- Low opportunity cost risk: Users can deposit a certain portion of their assets to the Pool and then unstake at any moment while still receiving the incentive from the trading pair.
- No impermanent loss: Users will receive back in full their deposit without any losses.
Detailed information about DODO token
DODO Token Price
Currently, you can see the DODO token price on Coin98 Markets right here: markets.coin98.com/currencies/dodo
Coin98 Markets is a website where you can access extensive information about a project's Token Metrics as well as update real-time pricing. More information may be found on the projects' homepages and community pages, or you can filter the coins/tokens by Marketcap, Transaction volume, and so on.
DODO Token Metrics
- Token Name: DODO Token.
- Ticker: DODO.
- Blockchain: Ethereum.
- Contract: 0x43dfc4159d86f3a37a5a4b3d4580b888ad7d4ddd.
- Token type: Governance.
- Token Standard: ERC-20.
- Total Supply: 1,000,000,000 DODO.
- Circulating Supply: 140,608,234 DODO (*).
(*) Liquidity Mining Reward paid by each Block.
DODO Token Allocation
- 15% to the core team/future hires/advisors.
- 16% to investors.
- 1% to initial liquidity provision (IDO).
- 8% to operations/marketing/partnerships.
- 60% to community incentives.
DODO Token Sale
DODO Token Release Schedule
- Community Incentives (60%): Liquidity Mining Reward (8.25 DODO per block).
- Investors (16%):
Seed Sale Investors: Lock for 1 year, pay in 2 years after that.
Private Sale investors: TGE 10%, the remaining 90% will be paid in installments within 1 year.
- IDO: No lock.
- Core Team/Future Hires/Advisors: 1-year course, 2 years later.
- IDO (1%): TGE 100%
- The total supply of the DODO token is 1 billion (1,000,000,000). There are currently 12 million coins in circulation.
DODO Token Use Cases
DODO is the platform's native governance token with the following use cases:
- Governance: DODO Token token holders can create and vote on proposals to govern the platform.
- Crowdpooling & IDO Allocations: DODO holders receive allocations to participating in Crowdpooling & IDO campaigns on the platform.
- Staking: Users can receive additional DODO rewards by staking their DODO Token tokens.
- Trading Fee Discounts: DODO token holders receive trading fee rebates when trading on the platform.
- Minting vDODO: Users can stake their DODO tokens to mint vDODO tokens to receive additional membership rewards and dividends from trading fees.
How to get DODO Token
There are three popular ways for users to get DODO Token:
- Buy DODO from DODO Token exchanges.
- Join Liquidity Mining to earn more DODO Tokens.
- Join vDODO membership.
How to buy DODO Token
Step 1: Connect Coin98 Extension Wallet.
Step 2: Search DODO.
Step 3: Adjust the amount you want to swap.
Step 4: Adjust the gas fee, then click Approve.
How to store DODO - Coin98 Wallet
You can store DODO Token on Coin98 Wallet with a few single steps as follows:
Step 1: Open Coin98 Wallet & click Receive on the home screen.
Step 2: Search DODO Token.
Step 3: Click on the correct result, copy the wallet address and send DODO to this address.
DoDo Exchange Roadmap
The roadmap provided by DODO AMA on 4/6/2021:
- Q2 2021: Launching DODO NFT Platform.
- Q3 2021: Deployment more on Layer 2.
- Q4 2021: Discover the application of NFT in the financial application.
Team, Investors, and Partners
DoDo was founded by Founder Diane Dai, Co-Founder Radar Bear, and an anonymous development team. It initially attracted a $600,000 seed round led by Framework Ventures.
DODO Exchange is backed by several well-known investors, including Framework Ventures, DeFiance Capital, Pantera Capital, Binance Labs, Coinbase Ventures, Alameda Research, SevenX Ventures, and others.
DODO Exchange is currently focusing on expanding on other Blockchains, therefore the majority of its partners are Blockchains such as Solana, Binance Smart Chain,... and Layer 2 such as Arbitrum, Polygon, and others.
There are many other names, such as:
- The Graph: Crypto's "Google," a data-querying project.
- Frontier: DeFi aggregation layer that runs on multiple Blockchains.
DODO Exchange is also a Gitcoin Round 10 sponsor.
Is DODO a good investment?
About the project idea, DODO has offered a solution to the existing AMM dilemmas of impermanent loss and opportunity cost risk by integrating AMM and Oracle. Even for lightly traded tokens, the adoption of Proactive Market Maker technology has ensured a more stable asset price and more efficient liquidity. Furthermore, DODO smart contracts have been audited by PeckShield & Trail of Bits.
The services provided are unique and currently expanding. Crowdpooling, IDO allocations, trader mining, NFT vaults, the DODO Vending Machine, and private liquidity pools have all led to a more robust platform with higher trading volumes. This, in turn, keeps the platform stable and makes it more appealing to traders and liquidity providers.
DODO is backed by a number of well-known investors such as Framework Ventures, DeFiance Capital, Pantera Capital, and others. Their team consists of three big influencers in China's DeFi Community: Mingda Lei, Qi Wang, and Diane Dai.
It is always important to undergo your research and perform your own due diligence when making financial decisions.
Hopefully, this article can effectively support users in understanding more about the DODO token. If there are any questions, please feel free to comment here or join our community for further discussions.