What Is DODO

What Is DODO?
DODO is a Chinese decentralized finance (DeFi) protocol and on-chain liquidity provider whose unique proactive market maker (PMM) algorithm aims to offer better liquidity and price stability than automated market makers (AMM).

The PMM pricing mechanism, which mimics human trading, utilizes oracles to gather highly accurate market prices for assets. It then provides enough liquidity close to these prices in order to stabilize the portfolios of liquidity providers (LP), lower price slippage and negate impermanent loss by allowing arbitrage trading as reward.

DODO also caters for new crypto projects with a free ICO listing through its Initial DODO Offering (IDO) which requires issuers to only deposit their own tokens.

DODO’s smart contract operates as an ERC20 token on the Ethereum network.
Who Are the Founders of DODO?
Dodo was officially launched in August 2020, founded by Diane Dai, Radar Bear and an anonymous development team. It initially attracted a $600,000 seed round led by Framework Ventures.

The team announced in September 2020 that it had successfully completed an additional $5 million private sale funding round, led by Pantera Capital, Binance Labs and Three Arrows Capital.

The private sale round also attracted investment from several other prominent venture capital firms, cryptocurrency exchanges and trading firms that include Coinbase Ventures, Galaxy Digital, CMS Holdings and Alameda Research.

Who Are the Founders of DODO?

Dodo was officially  launched in August 2020, founded by  Diane Dai,  Radar Bear and an anonymous development team. It initially attracted a $600,000 seed round led by Framework Ventures.

The team announced in September 2020 that it had successfully completed an additional $5 million private sale funding round, led by Pantera Capital, Binance Labs and Three Arrows Capital.

The private sale round also attracted investment from several other prominent venture capital firms, cryptocurrency exchanges and trading firms that include Coinbase Ventures, Galaxy Digital, CMS Holdings and Alameda Research.

What Makes DODO Unique?

DODO positions itself as one of the most competitive liquidity providers that offers very low transaction fees and price slippage through its PMM algorithm, first conceived in April 2020.

The team claims their PMM algorithm provides superior pricing over that of AMM competitor  Uniswap due to a flatter price curve.

The PMM collects funds near market prices to establish enough liquidity, which drops quickly the further the price moves from the market price. DODO automatically adjusts market prices in order to attract arbitrage that will help keep liquidity provider portfolios stable.

This ensures more favorable pricing, higher fund utilization and decreased price slippage, single risk exposure and no impermanent loss

For traders, DODO offers sufficient liquidity comparable to that of centralized exchanges (CEX), which can be natively used by smart contracts for on-chain transactions such as liquidation and auctions. Arbitrageurs can also take advantage of price differences between DODO and other exchanges.

Liquidity providers are not required to make a minimum deposit and are not restricted on the type of asset they provide. LPs can create their own trading pairs, deposit their own tokens to negate price risk and also collect a portion of DODO transaction fees as rewards.

DODO also attracts new crypto projects with a free listing as an Initial DODO Offering (IDO). Unlike AMM protocols, DODO does not require quote tokens, and IDO projects only need to deposit their own tokens to the liquidity pool, after which the PMM creates its own ask-side depth. To start an IDO, a project needs to only set the oracle price to a constant. Liquidity is improved by depositing more quote tokens.

#cryptowithsana #wazirxindia #wazirxwarriors #indiawantscrypto #blockchain #crypto #cryptocurrency #bitcoin #cryptography #btc #indiawantsbitcoin #ethereum #litecoin #dogexoin #wrxcoin #wrx #nischalshetty #techhelpinhindi #cryptobill #financialfreedom #cryptoeducation #indiakabitcoinexchange #buybitcoin #howtobuybitcoin

https://wazirx.com/invite/knpwmvnt

Comments

Post a Comment

Popular posts from this blog

What is Cartesi (CTSI) | What is Cartesi token | What is CTSI tokenWhat is Cartesi?

Image
What is Cartesi (CTSI) | What is Cartesi token | What is CTSI token What is Cartesi? Cartesi is building an operating system for DApps. The project enables complex and intensive computations to run in a Linux environment, outside the blockchain, without compromising decentralization. Cartesi aims to make DApps significantly more powerful, easier to develop, and portable. Cartesi aims to bring mainstream scalability and convenience to developers and users of decentralized applications. What makes Cartesi Unique? Development limitations on blockchain platforms can frustrate both developers and users, turning them away. Cartesi allows developers to build on well-established software they are familiar with and running them in a Linux environment. The project aims to bridge the gap between the centralized and decentralized worlds of application development. Some of its key highlights include: Scalability: Intensive computations on massive amounts of data are performed off-chain ...
Read more

MCS | MCS Weekly Dev & Operations Report (Jan 31 - Feb 6)

Image
MCS | MCS Weekly Dev & Operations Report (Jan 31 - Feb 6) #Be_a_Trader Greetings from MCS, the derivatives trading platform where traders always come first. MCS has been hard at work, and we’ll now be posting weekly updates on what we’ve been working on. MCS Weekly Dev & Operations Report (Jan 31 - Feb 6) <Development> [DevOps] z/OS monitoring — MySQL, Redis: Completed — Kubernetes: In Progress — Grafana: Version Upgrade [Backend] Order Flow Test Data Migration: MySQL, Redis [Frontend] Oauth Login Page Building (z/OS) In Progress Legacy Code Refactoring — Mainnet Bug Fix — Websocket Stream Modularity <Product> Spot Trading System Design — Trade Page: Header Menu, Market, Place Order, Active Order — Wallet Page Pooled-USD/stablecoin Design — Calculation <Marketing> Blog Post: MCS Token Briefing MCS India Crypto Workshop AMA Preparation Traders always come first on MCS! Thank you! MCS Team Read the Market, Trade with Confidence, Beat the Market #Be_a...
Read more

MCS | "Bitcoin City" in El Salvador?

Image
MCS | "Bitcoin City" in El Salvador? #Be_a_Trader Greetings from MCS, the derivatives trading platform where traders ALWAYS come first. El Salvador in Latin America was the first in the world to adopt Bitcoin as a fiat currency in 2020. They are moving very quickly for the commercialization of Bitcoin by giving out $30 worth of Bitcoin for every citizen and installing Bitcoin ATMs across the country. And in November 2021, El Salvador once again shocked the world. At the Latin American Bitcoin and Blockchain Conference held in Mizata, El Salvador, on November 20, 2021 (local time), El Salvador President Nayb Bukele announced the construction of a so-called "Bitcoin City" that uses volcanic geothermal energy as power in the eastern coastal city of La Unión. Bitcoin City According to Bukele, “Bitcoin City” will be located along the Gulf of Fonseca near a volcano. The government plans on locating a power plant by the volcano to provide energy for both the ci...
Read more