The 17th project on the Binance Launchpool has been launched - DODO, a Decentralized Exchange Leveraging the Proactive Market Maker Algorithm. As per DODO docs, it features highly capital-efficient liquidity pools that support single-token provision, reduce impermanent loss, and minimize slippage for traders. DODO is also a DEX and an aggregator where it has its own liquidity pools and also supports trading between any two tokens available on the market. You may read more and do your research here.
Anyone can stake their BNB, BETH and BUSD into the different separate pools to farm DODO tokens for over 14 days, with farming starting from 2021-02-19 00:00 AM (UTC). It will then be listed into the innovation zone at 2021-02-19 10:00 AM (UTC) and open trading with DODO/BTC, DODO/BUSD and DODO/USDT trading pairs.
DODO Launchpool Details:
- Token Name: DODO (DODO)
- Total Token Supply: 1,000,000,000 DODO
- Launchpool token rewards: 1,069,518 DODO
- Current Circulating Supply: 140,000,000 DODO
- Smart Contract Address: DODO (ERC-20)
- Staking Terms: No upper limit. No KYC required
Supported Pools:
- Stake BNB: 641,710.8 DODO in rewards (60%)
- Stake BETH: 320,855.4 DODO in rewards (30%)
- Stake BUSD: 106,951.8 DODO in rewards (10%)
- Farming Period: 2021-02-19 00:00 AM (UTC) to 2021-03-04 23:59 (UTC).
I was staking LIT before DODO was launch. As the rewards were higher yesterday, I quickly redeem my staked BNB to place in DODO pool. I managed to get it while it was still 18% APY. However as you can see now that the APY has dropped significantly. In fact LIT APY is higher than DODO for BNB Pool at the moment. Currently my BNB stake has farmed me 0.0047 DODO, which is even more than what I had farm for LIT. I don't think it is good to stake in DODO BNB Pool.
I have removed my BNB from DODO pool back to the LIT pool and will place it there until end farming ends. Should DODO BNB Pool APY increases, I will switch back to it.
My future plan is to see how I can exchange/swap my other crypto to BUSD so I can place it into the BUSD pools to farm as well. I would need to find out what is the minimum required for staking BUSD before I swap. Else I will be stucked with BUSD dust which will just sit in my Binance spot wallet.
