DODO was officially launched in August 2020, founded by Diane Dai, Radar Bear, and an anonymous development team. The project initially attracted a $600,000 seed round led by Framework Ventures. In September 2020, the team announced the successful completion of an additional $5 million private sale funding round, led by Pantera Capital, Binance Labs, and Three Arrows Capital. The private sale also drew investment from several other prominent venture capital firms, cryptocurrency exchanges, and trading firms, including Coinbase Ventures, Galaxy Digital, CMS Holdings, and Alameda Research.

DODO is recognized as a leading liquidity provider, offering exceptionally low transaction fees and minimized price slippage through its innovative PMM (Proactive Market Maker) algorithm, which was introduced in April 2020. The development team asserts that their PMM algorithm delivers superior pricing compared to its AMM (Automated Market Maker) competitor Uniswap, owing to its flatter price curve. The PMM algorithm aggregates funds near market values, ensuring ample liquidity, which diminishes rapidly as the price deviates from the market value. DODO automatically adjusts market prices to attract arbitrage opportunities, thereby stabilizing liquidity provider portfolios. This mechanism guarantees more favorable pricing, enhanced fund utilization, and reduced price slippage, coupled with single risk exposure and the elimination of impermanent loss. For traders, DODO provides liquidity levels comparable to those found on centralized exchanges (CEX), which can be seamlessly integrated into smart contracts for on-chain transactions such as liquidations and auctions. Arbitrageurs can exploit price discrepancies between DODO and other exchanges. Liquidity providers are not obligated to meet a minimum deposit requirement and face no restrictions regarding the type of assets they provide. LPs have the flexibility to create custom trading pairs, deposit their own tokens to offset price risk, and earn a portion of DODO transaction fees as rewards. DODO also attracts emerging crypto projects by offering a free Initial DODO Offering (IDO) listing. Unlike AMM protocols, DODO does not mandate quote tokens, allowing IDO projects to merely deposit their own tokens into the liquidity pool. The PMM subsequently generates its own ask-side depth. To initiate an IDO, a project only needs to establish the oracle price as a constant. Liquidity is further enhanced by the addition of more quote tokens. You can find more information on Eulerpool.

The total supply of the DODO token is 1 billion (1,000,000,000), with 12 million coins currently in circulation. The total supply of DODO will be allocated as follows: * 15% to the core team, future hires, and advisors * 16% to investors * 1% to initial liquidity provision (IDO) * 8% to operations, marketing, and partnerships * 60% to community incentives For more detailed information, DODO's distribution can be verified on Eulerpool.

DODO is a decentralized protocol, inherently resistant to centralized network attacks that depend on a single point of failure. The smart contracts of DODO underwent an audit by PeckShield, a leading blockchain security firm, on July 10, 2020. The audit report for DODO is available here. It is important to note that DeFi protocols are innovative yet high-risk projects. They are susceptible to coding bugs and security vulnerabilities that could be exploited by hackers, potentially resulting in the loss of funds.

DODO is available for trading on centralized exchanges such as MXC.com, L Bank, and BiKi, as well as on decentralized exchanges (DEX) including Uniswap V2, Mooniswap, and Dodo. Additional exchange listings can be found on our crypto exchanges page. Interested in buying cryptocurrencies like Bitcoin and Ethereum directly with a credit card in your preferred fiat currency? Refer to this guide to learn more.