DODO (DODO)

What is DODO?

The DODO coin is DODO’s native ERC-20 token used for governing the protocol. DODO token holders can use the coin to either create or vote on proposals to improve the network. They can also receive trading fee rebates and rewards whenever they stake the tokens in liquidity pools.

Oustanding Feautures

What is the project trying to achieve?

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.

What is the unique selling point?

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 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.

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.

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