DODO (DODO)

DODO is a decentralized exchange (DEX) and cryptocurrency designed to be a next-generation on-chain liquidity provider. It utilizes the Proactive Market Maker (PMM) algorithm to deliver pure on-chain and contract-fillable liquidity. The platform is governed by the DODO governance token.

Overview

DODO accepts assets from various liquidity providers, gathering funds near market prices to ensure sufficient liquidity. To minimize counterparty risks, DODO adjusts market prices dynamically, encouraging arbitrageurs to stabilize liquidity providers' portfolios. The PMM algorithm merges features of automated market makers (AMM) and centralized exchange order books for enhanced liquidity and reduced slippage. DODO was launched on August 25, 2020.

History of DODO

Team

Ticker	DODO
Category	Decentralized Exchange (DEX)
Website	https://dodoex.io/
Twitter	@BreederDodo
Telegram	dodoex_official
Reddit	https://www.reddit.com/r/DodoEx/
Contract Addresses
ethereum	0x43...ddCopied!
binance-smart-chain	0x67...e2Copied!
near-protocol	43...arCopied!
arbitrum-one	0x69...81Copied!
aurora	0xe3...f7Copied!
polygon-pos	0xe4...78Copied!
energi	0x4f...06Copied!

DODO was founded by Diane Dai, Mingda Lei, and Qi Wang, who are prominent figures in China's decentralized finance (DeFi) community. Diane Dai initiated the first DeFi community in China, including a WeChat subscription channel, DeFi Labs. Mingda Lei, the designer of the PMM algorithm, was a core developer at DDEX and a physics Ph.D. dropout from Peking University. Qi Wang is the founder of DOS Network, China's pioneering oracle project.

Investors

Framework Ventures led a $600,000 seed investment in DODO, with other notable investors such as Robert Leshner, Bobby Ong, Jason Choi, and Spencer Noon. In late September 2020, DODO raised $5 million through a private sale, valuing the company at $50 million.

Services offered by DODO

Proactive Market Maker (PMM)

The PMM algorithm uses price oracles to obtain accurate market prices, aiming to provide ample liquidity near market values. It ensures that liquidity decreases as it moves away from the market price. The PMM curve is flatter than the AMM curve, indicating higher fund utilization and lower slippage. Unlike AMMs, PMM proactively adjusts the price curve to maintain liquidity.

High fund utilization

PMM, like AMMs, offers liquidity across a wide price range, but focuses funds near market prices for more active trading and increased fund utilization.

Impermanent loss mitigation

PMM adjusts prices to make it profitable for arbitrageurs, ensuring the number of tokens in the pool remains stable, effectively reducing impermanent loss for liquidity providers.

Chainlink integration

DODO integrates with Chainlink for its price oracle on the mainnet, offering price updates from 21 independent oracles.

DODO governance token

Governance structure

The DODO governance token allows holders to participate in the ecosystem's governance, which is managed by three autonomous DAOs: Admin DAO, Risk Control DAO, and Earn DAO. Admin DAO holds the highest authority.

Token allocation

DODO's total token supply is 1 billion, distributed as follows: Core Team/Future Hires/Advisors (15%), Investors (16%), Initial Liquidity Provision (1%), Operations/Marketing/Partnerships (8%), and Community Incentives (60%). Token distribution includes lockup periods and linear release schedules.

The DODO NFT market

DODO provides tools and smart contracts for NFT creation, trading, and fragmentation, enhancing NFT liquidity and trade efficiency.

NFT fragmentation

NFT fragmentation involves converting NFTs into fungible ERC-20 fragments, increasing market liquidity and trade efficiency.

Models of fragmentation

DODO employs two models: the buyout model, suitable for high-value NFTs with low turnover, and the retail model, for low to medium-value NFTs with high turnover.

Mining on DODO

DODO offers mining as an additional income source with two types: single coin pledge mining and LP Market Making. Single coin pledge involves charging tokens to a mining contract without loss, while LP Market Making requires depositing funds into a liquidity pool.

Roadmap

Q4 2021

• Moonriver and Aurora deployment
• Privacy transactions
• NFT fragmentation and tools creation
• New home and personal homepage

Q1 2022

• Limit orders and 0 gas trading mode
• Avalanche deployment
• New token release mechanism for Crowdpooling

Q2 2022

• Crowdfunding build pool V2
• UIUX upgrade
• DODO tokenomics upgrade

Q3 2022

• Adaptive long-tail coin market making
• New asset liquidity control tools

Q4 2022

• Ecosystem DAO development