DODO is a DeFi protocol and on-chain liquidity provider designed to provide better liquidity and price stability.
Its Active Market Maker (PMM) algorithm uses highly accurate asset market prices to provide liquidity close enough to those prices to stabilize liquidity provider (LP) portfolios, reduce price slippage, and in return by allowing arbitrage trading to offset short-term losses.
DODO also offers Initial DODO Offerings (IDOs) to cater to new crypto projects and operates as an ERC20 token on the Ethereum network using smart contracts.
Founder: Radar Bear Twitter: https://twitter.com/bear_radar
Total supply: 1 billion
Circulation: 455 million
Global total market value: 263 million
Market value: 127 million
Circulation rate: 45.54%
Locking and Allocation
There are about 12 days left until the next unlocking, and about 2.78 million market value will be unlocked, accounting for 1% of the supply. Currently, about 80% has been unlocked in total, and 20% has not yet been unlocked.
Main distribution: Community rewards account for 60%, which are mainly used for liquidity mining rewards.
When investors hold 16%, 10% of the private placement round will be locked for 6 months, and 10% will be released immediately after 6 months, and then the entire amount will be released linearly over the next 1 year.
1% is used for initial liquidity ido mining, the first phase launched on September 1, 2020.
Team and market operations accounted for 23% in total.
The project raised $10.6 million in three consecutive months after its launch.
The first round of financing was US$600,000. The seed round of financing on August 28, 2020 was led by Framework Ventures and followed by Defiance Capital. USD 0.01 each.
The subsequent two rounds were each worth US$5 million. On September 29, 2020, a total of 100 million tokens (10% of the total issuance) were sold in the private placement round, at US$0.05 each.
On October 12, 2020, Pantera Capital, Three Arrows Capital and Binance Labs jointly led the investment.
development path
On August 8, 2020, DeFi Labs founder Dai Shichao announced that the DODO plan would be pre-launched on August 15.
On August 28, 2020, DODO raised US$600,000 in a seed round of financing.
On September 1, 2020, DODO announced the launch of the first 21-day liquidity mining incentive event.
On September 29, 2020, DODO announced the completion of a US$5 million private placement round of financing.
On September 29, 2020, DODO launched the DODO/USDT trading pair on its trading platform through IDO.
On September 30, 2020, DODO launched the second half-year mining activity, with an additional 20% mining reward for the first mining activity.
On October 12, 2020, DODO completed US$5 million in financing, led by Pantera, Three Arrows and Binance Labs, and participated by Coinbase Ventures.
On October 12, 2020, the MXC Matcha Assessment Zone launched the decentralized trading platform DODO.
On November 18, 2020, DODO adjusted the handling fee for the USDT/USDC stablecoin trading pair to 0.03%.
On December 22, 2020, the DODO V2 version has completed the code audit conducted by PeckShield.
On December 22, 2020, DODO launched SmartTrade, which supports aggregated transactions and optimal transaction paths on the chain.
On January 9, 2021, DODO announced its 2021 product roadmap, and version V2 will focus on long-tail market growth.
On January 19, 2021, DODO was selected into the third phase of the Chicago DeFi Alliance accelerator.
On February 10, 2021, DODO released economic model V2 and introduced membership certificate vDODO.
On February 19, 2021, DODO trading will be launched in the Binance Innovation Zone, and DODO new currency mining will be launched on the Launchpad website.
On February 22, 2021, DODO V2 Beta was officially launched on Ethereum.
On March 1, 2021, weekly trading volume hit a record high of US$470 million.
On March 8, 2021, the latest roadmap was released, which will focus more on areas such as new asset issuance, institutional market makers, NFT pricing, and multi-chain support.
On March 9, 2021, part of DODO's fund pool was attacked, and the team immediately started an investigation after discovering it.
On March 10, 2021, attackers previously exploited a vulnerability in the DODO V2 Crowdpools smart contract to steal $3.8 million. In the latest news, DODO has recovered $1.89 million in funds, including approximately 1,140,000 USDT and 411 ETH, and plans to return the funds to affected parties.
Investment agency
Framework Ventures DeFiance Capital Lattice Capital (BTC12) Origin Capital PANTERA Capital Binance Labs (Binance) Coinbase Ventures CMS Holdings Galaxy Digital IOSG Venture Three Arrows Capital #热门话题 #BTC #sol #ETH
