DODO: The Next Generation of Decentralized Echanges

By 2sats | 2sats | 5 Jan 2022

*obligatory not financial advice*


What is DODO?

DODO is a decentralized exchange that features a unique AMM to keep the prices more stable and the slippage and impermanent loss low. It also gives developers the option to launch their own new tokens via an Initial DODO Offering, where they only need to provide the new token and not a pair. The DEX runs on Ethereum, Binance Smart Chain, Polygon and 5 more smart contract blockchains. 

DODO uses a Proactive Market Maker (PMM) to set the prices for their trading pairs. It also works algorithmically like the Automated Market Makers of Uniswap, Sushiswap and co where the ratio of the two tokens in a pair is weighted 1:1. The difference is that the PMM utilizes oracles to find the true market price of an asset and tries to keep enough liquidity around the market price by proactively shifting its price curve which allows a much smaller slippage and a flatter price curve than most other DEXes can provide. That most of the liquidity is provided near the market price allows for more active, frequent trading and increased fund utilization and it keeps the number of provided tokens rather constant which makes the impermanent loss low.




DODO also offers other great features for crypto traders and users. Traders can take "Flash Swaps" to essentially take a loan to perform an arbitrage trade with more liquidity, similar to AAVEs Flash Loans. DODO has a tool that makes it easy to build you own token and there is a tool where you can deposit a NFT and mint tokens that represent fractional ownership of the underlying NFT, so basically you can fractionalize a non-fungible token.

Project founders can also launch their new tokens for free on DODO via an Initial DODO Offering. Most CEXes will take listing fees and most DEXes require a new token to be listed in a trading pair, which means that if you want to add your new token with an USDC pair, you will also need to already have the USDC you wanted to raise and supply it with your token. On DODO you can launch a token, by only providing your token and setting a fixed price. The DEX will initially sell your token for this price and then slowly adjust their price based on how much liquidity is provided for both sides in the new pair.

The DEX is supported by several powerful entities like Coinbase and Binance, who are the both most popular centralized crypto exchanges and have invested in the project.



The DODO Token

DODO has a native governance token with the same name. It gives its holders voting rights for committed proposals for changes to the platform. The demand for such voting rights increases if more funds are added to the DODO smart contracts.

There is a max supply of 1,000,000,000 tokens. 15% of the max supply went to the developers and advisors and the like, 16% were sold to investors, 1% was offered in an initial DODO Offering, 8% was reserved for marketing and partnerships and the remaining 60% is used for community incentives to reward liquidity providers. The tokens of the investors and developers have been locked for the first 6-12 months and are being slowly vested over the next 1-2 years. Most of the supply is going to the users and providers of the protocol which is a good thing.

DODO runs on multiple blockchains and has a unique way of adjusting its prices to keep the slippage low and has many great tools. The token has a max supply that goes mostly to the users and it has attracted many highly creditable investors like Binance and Coinbase. The market cap is also rather low and the price is far below its ATH, which means that there is a lot of room to grow. However, there are more than enough DEXes available and Uniswap and Sushiswap are far more popular.

Binance and KuCoin both offer trading pairs for the token and decentralized exchanges like Uniswap and of course DODO itself have it available too. You can hold the respective version of the token in any Ethereum or Binance Smart Chain wallet like MetaMask.



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