What is DODO?
Founded in 2020, built on top of Binance Smart Chain and Ethereum, DODO is a multi-chain DEX(Decentralized Exchange) that allows crypto enthusiasts to trade Altcoins.
One of the unique features that differentiates DODO from traditional DeFi applications is its Market Maker Algorithm.
Unlike other most decentralized exchanges, DODO utilizes its own unique PMM(Proactive Market Maker) Algorithm, instead of the AMM(Automated Market Maker) model which is traditionally utilized by most of DeFi applications.
The reason behind integrating PMM model was to address DeFi’s limitations including lack of censorship resistance, efficiency, inclusive trading platforms, and unreliability.
The Founding Team
A Chinese team of crypto enthusiasts led by Diane Dai, Qi Wang, and Migda Lei co-founded the DODO in August 2020.
Initially, no one knew about their whereabouts.
They introduced themselves using their pseudonymous identities, ‘Dai Dai’ and ‘Radar Bear’.
However, today, we know that Dai Dai is actually Diane Dai and Radar Bear’s real name is Mingda Lei.
For those who don’t know about Dai Dai, she is an expert in finance and mathematics and is well-known for her contributions to the DeFi space.
On the other hand, Mingda Lei also has a background in finance and played a significant role in the development of DODO.
Vision and Mission
The developers introduced DODO to create a decentralized and wide-ranging financial ecosystem.
A system where customers could trade digital assets without relying on mediators.
They came up with this idea to end the barriers imposed by traditional exchanges.
Moreover, Lei and Diane also wanted to reduce the risks associated with custodial solutions and promote accessibility for users worldwide.
Ultimately, both fulfilled their dreams and made life easier for crypto enthusiasts who want to experience Decentralized trading.
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Brief Background of Decentralized Finance (DeFi)
A fundamental know-how about decentralized finance or DeFi is crucial to understanding DODO.
Therefore, before exploring the topic more, let’s look at the DeFi ecosystem.
The rise of Automated Market Makers (AMMs)
Introduction of AMMs in Blockchain industry is responsible for a significant shift in the cryptocurrency trading landscape.
These platforms provided a groundbreaking approach to exchanging digital assets.
AMMs freed users from traditional order books and human intermediaries-based financial models.
By leveraging smart contracts to enable decentralized, automated trading with Automated Market Maker Algorithm, users can easily swap tokens on DeFi platforms and participate as liquidity providers.
By providing your cryptocurrencies as liquidity to support network operations, you can earn rewards including new tokens and fee discounts.
Introduction to DODO as a new-age AMM
DODO represents a new-age Automated Market Maker that redefines decentralized trading.
As previously mentioned, the platform utilizes a distinctive Proactive Market Maker also known as the PMM algorithm.
Here, crypto holders can provide their liquidity within specific price ranges, minimizing the risks associated with impermanent loss.
This advanced approach boosts the liquidity provision experience for users while upholding the tenets of decentralization.
DODO is committed to providing effectual, user-centric solutions, making it a noteworthy player in DeFi platforms.
How Does DODO Work?
The working mechanism of DODO is as follows.
Proactive Market-Making Algorithm
PMM algorithm is the foundation of its unique trading system.
Contrasting traditional AMMs, the Proactive Market-Making model regulates liquidity pools, helping users commit their assets within specific price ranges.
Such proactive approach reduces impermanent loss risk for liquidity providers and guarantees more stable prices for traders.
Additionally, the algorithm also optimizes capital efficiency by actively managing liquidity.
This way, DODO serves as a reliable and efficient platform for decentralized trading and enhances the user experience.
Liquidity Pools
Pools are the decentralized capitals of digital assets that help customers execute transactions and provide liquidity to the platform.
In Liquidity pools of decentralized finance, assets are often deposited by general traders and project developers to support simultaneous network operations.
In return for this help, traders are incentivized with new tokens.
DODO support creative approach for Liquidity pools called single-token provision.
With this method, also known as single-token liquidity, users can provide liquidity using only one of the trading pairs.
On the other hand, traditional systems require users to deposit equal amounts of trading pairs to participate in Liquidity.
Crowdpooling
As an attempt to minimize bot interference or chances of front-running, platform present the concept of crowdpooling.
It is a decentralized fundraising mechanism that permits projects to elevate liquidity in a rational and decentralized way.
Crowdpooling encompasses a joint effort from the community to give assets to a specific liquidity pool for a freshly introduced token or project.
Therefore, this process ensures the distribution of tokens more unbiasedly.
It happens because contributors offer their assets in exchange for a share of the new token at a preset price.
Crowdpooling enhances transparency, reducing the risk of market manipulation during token launches.
Comparing DODO to Other AMMs
A fair comparison of DODO with its competitors is necessary for further clarity.
DODO vs Uniswap
Although both are decentralized exchanges, DODO takes pride in its unique PMM algorithm.
While Uniswap still follows a constant product formula, DODO keeps adjusting liquidity pools to decrease impermanent loss.
Furthermore, it offers concentrated liquidity, which lets users focus assets within particular price ranges.
Another difference between the two is innovation and adaptation.
On one hand, Uniswap is widely adopted and known for its simplicity.
On the other hand, DODO follows an innovative approach to enhance price stability and capital efficiency.
Therefore, it is well-suited for the DeFi participants who seek more control over their liquidity provision.
DODO vs PancakeSwap
One of the prime difference between DODO and PancakeSwap is supported chain.
While DODO is a multi-chain project currently supported on Ethereum and Binance Smart Chain, but PancakeSwap is entirely on BSC.
Like Uniswap, PancakeSwap does not use PMM like DODO.
That is why both platforms cater to users on different blockchain ecosystems.
They have varying preferences for liquidity provision and DeFi activities similar to Uniswap.
DODO Tokenomics
The role of DODO tokens within the platform is generally termed DODO Tokenomics.
It includes their earnings, governance, fee distribution, and overall impact on the DeFi ecosystem.
Utility
DODO token’s utility lies in its various functions within the DODO ecosystem.
These functions consist of governance voting, earning rewards through staking, and partaking in liquidity provision.
It has a significant say in shaping the platform’s operations and decision-making processes.
Distribution
Token allocation of tokens among various stakeholders is called distribution.
Various factors that impact distribution are liquidity provision, early investment, team members, and a bigger community.
Here is how DODO distribution was organized at the time of launch by project founding members.
- 60% of the supply for Community incentives
- 16% to initial investors
- 15% for future hires, advisors, and core team
- 8% allocated to marketing, partnerships, and ensuring smooth operations
- The remaining 1% was allocated to the initial liquidity provision
DODO Staking
The process of locking up DODO tokens to earn rewards is called DODO staking.
How to Stake
First, acquire DODO tokens using a native platform or centralized exchanges or wallets.
Then, transfer DODO tokens to a supported wallet that can be connected with the DODO DeFi application.
After connecting your wallet to the protocol, set the DODO tokens amount you are willing to stake.
Confirm the staking transaction.
Your tokens will be locked in a smart contract.
ROI Calculations
ROI calculations, or return on investment, in DODO staking are vital for investors.
They reveal the possible returns to help users assess profitability.
To better calculate ROI on your DODO staking, you have to take factors such as market condition, APY/APR, and network you are utilizing into account.
Any of these factors can affect your overall ROI.
How to Buy DODO Tokens on Binance?
Create a Binance account
- Visit their website
- Register with your email and password
- Complete email verification
Verify Your Identification
You can verify your identity on Binance by providing personal information and documents.
This can be done through their unique KYC process which is accessible through the Verification Center.
Security Measures
Binance implements strong security measures.
It uses actions like 2FA, cold storage, encryption, and AI-based risk detection to protect user assets.
Funding Your Binance Account
For funding your Binance account, select the “Deposit” option and choose between fiat or crypto deposits to add some funds into your binance wallet.
On-Chain crypto deposits have no fees, however with fiat deposits you may have to pay some extra charges on your deposits depending on type of fiat-deposit and third-party payment processor.
Finding DODO on Binance
After depositing, go to spot trade section and click the search bar and type “DODO”.
It will locate the DODO trading pairs and markets.
Executing the Trade
On the Binance trading platform, select the DODO trading pair you want.
Afterward, specify the amount you wish to buy or sell and place your order.
Withdrawing to an External Wallet
If you want to withdraw DODO from Binance to an external wallet, visit the “Withdraw” bar and select DODO.
Enter your external wallet address, state the amount, and finish the required verifications.
Future of DODO
According to our analyst panel at Coin-Labs, the future of DODO DeFi seems promising due to it’s exceptional liquidity solutions, cross-chain capabilities and on-going development.
Its innovative tactic and participation in the expanding DeFi world suggest promised success.
Conclusion
In short, DODO is a matchless decentralized exchange that offers advanced solutions for several issues faced by many DeFi centric applications including the popular one’s like Uniswap, 1Inch and PancakeSwap.
The usage of a distinctive protocol called PMM makes it superior among competitors.
Due to its efficiency, accessibility, and creative approach, it has a tremendous future ahead.
We Coin-Labs.com provides only objective information about DODO (DODO).
Therefore, we are not responsible for the investment decision in DODO (DODO) and the resulting loss.
DODO (DODO) Basics
Here are some factors that investors should consider before investing in DODO (DODO).
| Cryptocurrency Features | DODO (DODO) (DODO) |
|---|---|
| Publisher or Developers | DODO, Inc. |
| Headquarters (Registration Number) | |
| Symbol | DODO |
| Platform | |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | No limit |
Reliability Score of DODO (DODO) in 2024
These are indexes mesuring the investment reliability of DODO (DODO) conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 4 Exchanges |
| Number of Available Pairs Worldwide | 244 Pairs |
| Market Cap of the Cryptocurrency | 91,641,172 USD (Rank #367) |
The table above shows the result of investment suitability evaluation for DODO (DODO).
Check out how we evaluate cryptocurrencies on the crypto rating description page.
DODO (DODO) Price
Here are the price and recent trading volume of DODO (DODO). (Data of 2024-11-02 00:35:00)
| Price Items | Price and Trading Volume of DODO (DODO) |
|---|---|
| DODO (DODO) Price | 0.108 USD |
| Price Change 24h | -1.83% |
| Price Change 7d | -8.09% |
| Trading Volume 24h | 8,733,604 USD |
| Trading Volume Change 24h | 13.31% |
Cryptocurrency Metadata
You can check the development status and social media information of DODO (DODO) through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | |
| 📖 White Paper | |
| 🛰️ Source Code (GitHub) | |
| 🎺 Message Board |
Where to Buy DODO (DODO)
Here are the top ten world crypto exchanges where traders can buy DODO (DODO) in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/DODO_USDT |
| Coinbase | Not listed | |
| Kraken | Not listed | |
| KuCoin | Listed | https://www.kucoin.com/trade/DODO-USDT |
| Bitfinex | Not listed | |
| OKX | Not listed | |
| Huobi | Listed | https://www.htx.com/trade/dodo_usdt |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Listed | https://www.gate.io/trade/DODO_USDT |
Frequently Asked Questions
What is the current price of DODO (DODO)?
DODO (DODO) price today is 0.108 USD. Furthermore, the price of DODO (DODO) has fluctuated by -1.83% from 24 hours ago, and by -8.09% from a week ago.
Where is DODO (DODO) listed?
Currently, it is listed on a total of 4 among the world top 10 exchanges.
What is the market cap of DODO (DODO) now?
Currently, DODO (DODO) has a market cap of 91,641,172 USD, which is ranking 367 among cryptocurrencies worldwide.
How much is the trade volume of DODO (DODO)?
Currently, 725,703,404 DODO coins are circulating through 244 market pairs. As a result, in the last 24 hours, 8,733,604 USD of DODO coins were traded in the market.
