What is Dodo (DODO)?
DODO is a decentralized exchange built on Ethereum and Binance Smart Chain that aims to make DeFi liquidity more accessible. Unlike many other DEXs, which use an automated market maker algorithm, DODO uses its own proactive market maker algorithm. According to DODO, its PMM model provides better price stability and liquidity than AMM DEXs.
DODO’s product includes SmartTrade, which facilitates trades between tokens on the same network. It also provides traders with the best prices by intelligently finding the best order routing from aggregated liquidity sources.
The Crowdpooling feature enables projects to kick-start liquidity markets and distribute tokens in an equal opportunity way, without the risks of frontrunning or bot interference. New projects can also raise funds with a free listing via the platform’s initial DODO offering feature. Meanwhile, liquidity providers have the flexibility to create and manage their own market making strategies thanks to DODO’s Pools feature. Finally, users can earn rewards through mining. As well as traditional liquidity mining, traders can participate in trading mining, while pool creators and liquidity providers can participate in Combiner Harvest mining.
DODO is the BEP-20 and ERC-20 utility token of the platform. It is used for platform governance, staking, and participating in Crowdpooling and IDOs, as well as for rewarding stakers and miners. Holding DODO also provides trading fee discounts and it can be used to mint vDODO, which provides extra membership benefits and dividends from trading fees.
How Does Dodo Work?
The sentiment of buyers and sellers is represented by large swathes of data in the market and changes to this data cause the market to react dynamically. The most important bits of data can be extracted through the process of compression, and in the case of crypto trading, the most important feature is liquidity. The typical market making formula stipulates that the price of the base token rises linearly as the number of base tokens that have been traded increases. However, the linear model has its limitations. Firstly, it is over simplified as it doesn’t reflect the uneven distribution of liquidity caused by the concentration near the mid price. Secondly, once the price goes above or below certain thresholds, the linear model returns a liquidity of zero even though there is still liquidity at that price.
Calculate the price.
The DODO team developed the nonlinear proactive market making algorithm entirely in-house to provide more favorable pricing through a mechanism that mimics human trading, is highly flexible, and is optimized for on-chain transactions. The PMM can be tweaked for a range of use cases. Mid prices from external markets with higher volumes can be fetched and proactively adjusted by the PMM algorithm to achieve higher capital efficiency than AMM platforms and minimize impermanent loss. This also means that liquidity providers can contribute just one token, instead of needing to deposit both tokens in the trading pair like they do on AMMs such as Uniswap. This use of the PMM creates the DODO Classic Pool.
The PMM also reduces the barrier to entry for smaller projects as newly minted assets with little sell-side liquidity don’t require large amounts of capital to be paired with. This is because teams can initialize liquidity at 100% their tokens and 0% stablecoins or ETH when they issue their token. This application of the PMM creates the DODO Vending Machine.
The PMM algorithm can also be made fully customizable with free market trading to create the DODO Private Pool, while the asset issuance mechanics can be altered to facilitate Crowdpooling.
What Makes Dodo Unique?
The project’s main innovation is the oracle-aided proactive market maker algorithm developed by the DODO team which mimics human trading and provides more favorable pricing. This model can be tweaked to support various types of pools and trading. The PMM algorithm means that traders get lower price slippage and reduced impermanent loss when compared with AMMs. The pricing formula also provides the DEX with contract-fillable liquidity which is comparable to centralized exchanges.
What’s more, liquidity providers can deposit any amount of base or quote tokens on the DODO DEX, including single-token deposits. This sets it apart from most AMMs which require both tokens to be deposited in a certain ratio.
What Gives Dodo Value?
The DODO platform is a valuable project thanks to its innovative PMM algorithm which provides various advantages over other DEXs. Traders, investors, liquidity providers, and token issuers can all benefit from the platform, which provides market-leading liquidity.
The value of the DODO cryptocurrency derives from its various utilities on the platform. DODO holders can create and vote on proposed changes to the platform, participate in Crowdpooling and IDO campaigns, receive trading fee rebates, stake their tokens, and mint vDODO tokens for extra rewards.
All these benefits make DODO a valuable token to hold for users of the DODO platform. Its finite supply also means the coin is not subject to depreciation through inflation and may therefore be a good store of value in the long term. Future growth of the DODO platform and community could make the project and its cryptocurrency more valuable.
How Many Dodo (DODO) Coins Are There In Circulation
There are currently tokens in circulation out of a total of tokens. Out of DODO’s total supply, 60% of the tokens are reserved for community incentives, 15% were allocated to the team and advisors, 16% to investors, 1% to initial liquidity provision, and 8% to partnerships, operations, and marketing. The seed round and private sale round raised $5.6 million, with tokens being sold at $0.01 each and $0.05 each respectively.
Other Technical Data
vDODO is a non-transferrable token that serves as proof of membership to DODO’s loyalty program. Its holders gain membership rewards and dividends from trading fees. Users can stake 100 DODO tokens in order to mint 1 vDODO and vDODO holders receive 6 DODO reward tokens per block.
How To Use Dodo?
Traders can use the DODO platform to find the best prices for trades through best order routing from aggregated liquidity sources. Liquidity providers can earn fees by contributing to liquidity pools with decreased price slippage and reduced impermanent loss thanks to the unique proactive market maker. New projects can also use the Crowdpooling feature to distribute tokens without frontrunning or bot interference.
DODO tokens can simply be held to receive trading fee rebates and allocations to participate in Crowdpooling and IDOs. As a governance token, DODO can also be used to create and vote on proposals. The tokens can be staked to earn more DODO or to mint vDODO.
How To a Choose a Dodo Wallet?
There are plenty of places you could store your DODO and the wallet you choose will likely depend on what you want to use it for and how much you need to store.
Hardware wallets or cold wallets like Ledger or Trezor provide the most secure option for storing cryptocurrencies with offline storage and backup. However, they can require more technical knowledge and are a more expensive option. As such, they may be better suited to storing larger amounts of DODO for more experienced users.
Software wallets provide another option and are free and easy to use. They are available to download as smartphone or desktop apps and can be custodial or non-custodial. With custodial wallets, the private keys are managed and backed up on your behalf by the service provider. Non-custodial wallets make use of secure elements on your device to store the private keys. While convenient, they are seen as less secure than hardware wallets and may be better suited to smaller amounts of DODO or more novice users.
Online wallets or web wallets are also free and easy to use, and accessible from multiple devices using a web browser. They are, however, considered hot wallets and can be less secure than hardware or software alternatives. As you are likely trusting the platform to manage your DODO, you should select a reputable service with a track record in security and custody. As such, they are most suited for holding smaller amounts of cryptocurrencies or for those making more frequent trades.
Kriptomat offers a secure storage solution, allowing you to both store and trade your DODO tokens without hassle. Storing your DODO with Kriptomat provides you with enterprise-grade security and user-friendly functionality.
Buying and selling DODO, or trading it for any other cryptocurrency, is done in mere moments when you choose our secure platform as your storage solution.
DODO tokens can be staked in order to earn rewards in DODO. Users can also stake 100 DODO in order to mint 1 vDODO. vDODO tokens entitle holders to extra membership benefits and dividends from trading fees.
DODO stands out as a DEX thanks to its unique proactive market maker model which provides better liquidity and price stability than AMM protocols. The product’s SmartTrade trading and aggregation feature is ideal for traders looking for the best prices, while the Crowdpooling feature is beneficial to new crypto projects and investors.
Liquidity providers will find many benefits to using DODO, such as the ability to create and manage their own on-chain market making strategies, decreased price slippage, and the flexibility of single-token deposits.
The DODO coin has a range of utilities and holding it brings various benefits to platform users. The DODO team’s planned incentive programs and initiatives could potentially bring more users to the platform and bring more value to the project and its cryptocurrency.
What is the DODO NFT Vault?
Users can pledge their non-fungible tokens into the DODO NFT Vault which will generate an ERC-20 token contract. This means owners can fragment their NFT into multiple tokens and decide on the new token’s name, supply, and distribution.
What is Flash Swap?
This DODO feature essentially enables users to pay on credit. They receive the tokens first, do what they like with them, and then pay later. This is thanks to the trustlessness of DeFi which makes the cost of credit very low.
How to Buy Dodo?
Buying DODO is as easy as visiting Kriptomat’s how to buy DODO page and choosing your preferred method of payment.
How to Sell Dodo?
If you already own DODO and hold it in a Kriptomat exchange wallet, you can easily sell it by navigating the interface and choosing your desired payment option.
DODO price is influenced by a lot of the traditional factors such as project news and development details, market sentiment, the flow of cryptocurrency on exchanges and the economy in general.
DODO price is also affected by demand for its various utilities and benefits for holders, as well as the popularity and growth of the DODO protocol.
The current DODO price is EUR.
The 24-hour trading volume of DODO is EUR. DODO is currently ranked of all cryptocurrencies by total market cap, with a market cap of EUR. It has a circulating supply of and a max supply of .
Register now to begin your journey into the world of DODO and cryptocurrencies with Kriptomat!
If you’re experiencing any issues or have any questions at all, please don’t hesitate to reach our Customer Support Team. We’re always here to help!