Last year, Donald Trump called Bitcoin a “scam” and worried about its links to illicit activity. Trump has revised his position as he bids for the presidency in 2024. He currently uses digital assets in his economic plan. He wants to use crypto to boost the U.S. economy, cut inflation, and attract worldwide investment while removing regulatory barriers.
Trump's Crypto Journey: Skepticism to Advocacy (2019-2021)
Initially, Trump was suspicious about cryptocurrency. His government regulated crypto businesses like Ripple, showing a rigorous attitude.
May 2024
Trump supported crypto at Mar-a-Lago, an unexpected turn. He suggested digital asset-boosting initiatives. His first direct interaction with digital assets was selling campaign-related NFTs.
June 2024
Crypto contributions boosted Trump's campaign. Famous people like the Winklevoss twins and Kraken co-founder Jesse Powell donated millions in Bitcoin and Ethereum. Trump started taking Bitcoin contributions.
July 2024
At a Bitcoin conference in Nashville, Trump pledged to make the U.S. the “crypto capital of the planet.” He vowed to loosen cryptocurrency rules, notably Bitcoin mining. Deregulating crypto will boost the economy, according to his campaign. Bitcoin may help revive the economy, he said.
September 2024
Trump paid for New York bar burgers using Bitcoin for his first public transaction. This was the first time a former president openly used Bitcoin, bolstering his crypto-friendliness.
What Is DODO? Key Takeaways
A multi-chain DEX (Decentralized Exchange) that enables crypto fans to exchange Altcoins, DODO was founded in 2020 and built on top of Binance Smart Chain and Ethereum.
The Market Maker Algorithm is one of the main elements that sets DODO apart from other DeFi programs.
As opposed to the more common AMM (Automated Market Maker) model, which is used by the majority of DeFi programs, DODO uses its own proprietary PMM (Proactive Market Maker) Algorithm.
The shortcomings of DeFi, such as its inefficiency, lack of censorship resistance, lack of dependability, and inclusive trading platforms, were addressed by using the PMM paradigm.
The Original Group
In August of 2020, a group of crypto enthusiasts from China, spearheaded by Diane Dai, Qi Wang, and Migda Lei, co-founded the DODO.
At first, nobody had any idea where they were.
They went under the aliases "Dai Dai" and "Radar Bear" when they first announced themselves.
Radar Bear's true identity is Mingda Lei, and Dai Dai is really Diane Dai, as we now know.
If you are unfamiliar with Dai Dai, she is a mathematician and financial specialist who has made significant contributions to the DeFi community.
But Mingda Lei, who was instrumental in creating DODO, also has an experience in finance.
Our Goals and Objectives
In order to build a decentralized and extensive financial ecosystem, the developers designed DODO.
A platform where users may buy and sell digital assets directly with one another, bypassing middlemen.
To break down the limitations of conventional communication, they devised this plan.
Not only that, but Lei and Diane want to make custodial solutions safer and more accessible for people all around the globe.
By the end, they accomplished what they set out to do and simplified the process for crypto fans interested in Decentralized trading.
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Decentralized Finance (DeFi): A Quick Overview
To grasp DODO, a basic knowledge of decentralized finance (DeFi) is required.
Looking into the DeFi ecosystem will help us have a better grasp of the subject before we go further.
An increase in the use of AMMs
There has been a dramatic change to the bitcoin trading scene with the introduction of AMMs to the blockchain business.
An innovative method of trading digital assets was made possible by these platforms.
Users were liberated from the constraints of human middlemen and conventional order books by use of AMMs.
On DeFi platforms, users may simply trade tokens and take part as liquidity providers thanks to smart contracts that allow decentralized, automated trading using the Automated Market Maker Algorithm.
As a liquidity provider, you may help the network run smoothly and get incentives like fresh tokens and reduced fees.
An Overview of DODO, a Modern AMM
By reimagining decentralized trading, DODO stands as a modern Automated Market Maker.
The platform uses a unique Proactive Market Maker algorithm, or PMM for short, as indicated before.
Here, cryptocurrency holders may mitigate the risks of short-term loss by providing liquidity within certain price ranges.
While maintaining the principles of decentralization, this cutting-edge method improves consumers' liquidity provision experiences.
As a leading DeFi platform, DODO is dedicated to delivering solutions that are both effective and user-centric.
So, How Does DODO Operate?
The following is the way DODO operates.
A Predictive Algorithm for the Market
Its one-of-a-kind trading method is based on the PMM algorithm.
To assist users commit their assets within defined price ranges, the Proactive Market-Making model governs liquidity pools, in contrast to typical AMMs.
This preventative measure ensures more consistent pricing for traders while lowering the danger of temporary loss for liquidity providers.
Furthermore, the algorithm enhances capital efficiency via proactive liquidity management.
In this approach, DODO improves the user experience while providing a dependable and efficient platform for decentralized trade.
Customers are able to conduct transactions and provide the network with liquidity via liquidity pools, which are decentralized capitals of digital assets.
General traders and project developers often deposit assets into liquidity pools of decentralized finance to facilitate simultaneous network activities.
New tokens are offered as incentives to traders in exchange for their assistance.
DODO backs a novel strategy for liquidity pools known as single-token provision.
This approach allows users to provide liquidity by using only one of the trading pairs; it is also called single-token liquidity.
However, in order to take part in Liquidity on more conventional platforms, customers are need to deposit matching sums of trading pairs.
The idea of crowdpooling is introduced by platforms as a means to reduce the likelihood of bot intervention or front-running.
Using this decentralized fundraising system, projects may increase their liquidity in a logical and distributed manner.
The term "crowdpooling" refers to a community-wide effort to fund a designated liquidity pool for a newly-launched cryptocurrency or enterprise.
There will be less prejudice in the distribution of tokens thanks to this procedure.
The reason for this is that contributors trade their assets for a predetermined price per share of the new cryptocurrency.
Token launches are safer from market manipulation because to crowdpooling's increased openness.
How DODO Compares to Other AMMs
For additional clarity, it is vital to fairly compare DODO with its rivals.
Uniswap vs. DODO
Despite the fact that both DODO and BTC are decentralized exchanges, DODO is proud of its own PMM algorithm.
Uniswap maintains a static product formula, but DODO is constantly tweaking liquidity pools to reduce temporary loss.
Concentrated liquidity is another perk, allowing consumers to zero down on certain pricing points for their assets.
Innovation and adaptability are two further ways in which they vary.
The ease and widespread adoption of Uniswap are two positive aspects.
In contrast, DODO takes a fresh tack in its quest to improve capital efficiency and price stability.
Those DeFi members who want more say over their liquidity supply will find it an ideal solution.
Compare DODO with PancakeSwap
Supported chain is one of the main distinctions between DODO and PancakeSwap.
Although DODO is a project that supports several chains, PancakeSwap is only compatible with Binance Smart Chain.
In contrast to DODO, PancakeSwap and Uniswap do not employ PMM.
The two services serve consumers on separate blockchain ecosystems because of this.
When it comes to Uniswap-style liquidity supply and DeFi operations, their tastes differ.
A common phrase describing the function of DODO tokens on the network is DODO Tokenomics.
All aspects of their influence on the DeFi ecosystem, such as governance, fee distribution, and revenues, are covered.
The many uses for DODO tokens inside the DODO ecosystem are what give them their usefulness.
Governance voting, staking for rewards, and liquidity supply are all part of these responsibilities.
Its influence on the platform's operations and decisions is substantial.
Distribution The distribution of tokens refers to the process of allocating them to different stakeholders.
Factors like as early investment, liquidity availability, team members, and a larger community all influence distribution.
This is the original distribution structure that the project's founders had in mind when they started the DODO project.
Holding DODO
A technique known as DODO staking allows users to earn rewards by locking up DODO tokens.
Staking Instructions To begin, get DODO coins via a centralized exchange, a native platform, or a wallet.
After that, link your DODO DeFi app with a compatible wallet and transfer your DODO tokens there.
Once your wallet is linked to the protocol, you may decide how many DODO tokens to stake.
Verify the transaction for staking.
A smart contract will secure your tokens.
Calculating Return on Investment
Return on investment (ROI) estimates are crucial for investors in DODO staking.
Users may evaluate profitability with the use of these returns, which are revealed.
Considerations including market conditions, APY/APR, and the network you're using might help you determine the return on investment (ROI) for your DODO staking.
A lower or higher return on investment (ROI) may be the result of any of these.
How Can I Purchase DODO Tokens on Binance?
Go to Binance's website and sign up for an account.
Sign in using your email address and password.
Send a final confirmation email
Make Your Identity Clear
By submitting your personal details and supporting papers, you may confirm your identity on Binance.
Their one-of-a-kind Know Your Customer (KYC) procedure, available via the Verification Center, makes this possible.
Strong Security Measures are Implemented by Binance.
To keep user assets safe, it employs measures including two-factor authentication, cold storage, encryption, and risk detection based on artificial intelligence.
The Binance Account Funding Process
To add money to your Binance wallet, go to your account settings, then click the "Deposit" button. You may deposit fiat currency or cryptocurrency.
There are no costs associated with making an on-chain cryptocurrency deposit; however, there may be additional charges associated with making a fiat deposit, and these charges may vary by kind of fiat deposit and by third-party payment processor.
Using Binance to Locate DODO
To access the spot trading area, click the search box and enter "DODO" once you've deposited.
It can find the markets and trade pairings for DODO.
Trade Execution Choose the DODO trading pair you want to trade on Binance's trading platform.
Next, enter the quantity you would like to purchase or sell, and then submit your order.
Getting Your Money Out of an External Wallet
To transfer DODO from Binance to another wallet, go to the "Withdraw" section and choose DODO.
Complete the necessary verifications after entering your external wallet address and specifying the amount.
The DODO E-Future
Because of its outstanding liquidity solutions, cross-chain capabilities, and ongoing development, our expert panel at Coin-Labs believes that DODO DeFi has a bright future.
Its groundbreaking strategy and active involvement in the rapidly growing DeFi industry bode well for its future.
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