What is DoDo?
DoDo stands for "decentralized exchange", a large bird with no wings, and a decentralized currency exchange. But before we go any further, let's define what a DoDo is and why it's so important. First of all, what is DoDo? It is an old-fashioned bird that lived on Mauritius. But it was extinct by the 1600s. If you think a bird is old-fashioned, wait until you read about the Raphus cucullatus.
DoDo is a large, flightless bird
The DoDo is a flightless, large bird with a big head that lived on the island of Mauritius from the 16th century to the 17th century. This extinct bird had a large hooked bill and lived on the ground. Its name derives from the Portuguese word doudo, which means "simpleton." Despite being flightless, the DoDo was easy to kill.
In the 16th century, the DoDo bird was a rare and very large animal, weighing up to 23 kilograms. It had a large head and beak, and small, useless wings. The bones of the DoDo were hollow, unlike the wings of flightless birds, and as a result it was not able to fly. The discovery of this bird by Portuguese sailors in 1507 triggered a worldwide hunt for the bird. Despite its lack of natural predators, it was not afraid of humans.
DoDo is a decentralized exchange
DODO is a decentralized exchange platform that uses a proprietary Proactive Market Maker (PMM) algorithm to facilitate the trading of cryptocurrencies. The PMM algorithm is designed to minimize slippage and impermanent loss for traders and improve capital efficiency. The DODO team took inspiration from its previous work on the DDEX decentralized exchange to develop its own proactive market making algorithm. The new algorithm allows users to freely configure asset ratios, which is a key factor in creating an efficient liquidity pool.
DODO is a decentralized exchange that offers flexible trading across a wide range of asset classes. The platform supports mainstream as well as long-tail investment strategies. Its mathematical-based efficient routing algorithms help users achieve the highest return on investment. It is built on the Ethereum blockchain and Binance Smart Chain. To use the DODO platform, users must first obtain the DODO tokens and use a compatible wallet to store them.
DODO was founded in August 2020 by a group of blockchain professionals. Mingda Lei, CEO, and co-founder, was a PhD dropout from Peking University who has been involved in several decentralized exchange projects. Founder Qi Wang, COO, and CTO, are seasoned software developers and have been involved with projects like DOS Network and the Binance Smart Chain. DODO has received interest from companies including Coinbase Ventures, Galaxy Digital, and CMS Holdings.
While it is relatively new in the crypto space, DODO is a promising new decentralized exchange that is on the Ethereum blockchain. It uses the Proactive Market Maker algorithm to provide its users with tokens for transaction fees. DODO has only been listed for two months and is ranked 37th in the latest DeFi Pulse data. Some decentralized exchanges use an automatic market maker algorithm, whereas DODO introduces a proactive market maker algorithm that will allow investors to deposit funds into a liquidity pool before trading. In this way, investors can benefit from seamless transactions between cryptocurrencies.
DODO is an anonymous Chinese development team that completed a $5 million private sale funding round in September 2020. The funding was provided by investors, trading companies, and venture capital funds. Alameda Research and Pantera Capital participated in the seed round, which raised $5.6 million. The company also has a vDODO loyalty program. Holders of vDODO can receive membership rewards and dividends from trading fees.
DODO is a decentralized exchange with a PMM algorithm that will ensure price stability and minimizing price slippage. The DODO token is the governance currency of the platform, granting holders many benefits, including a loyalty program. It is also a utility coin, called vDODO, which is redeemable for DODO tokens. However, it is worth noting that vDODO holders have voting power on the DODO community.