Decentralized finance (DeFi) has revolutionized the financial landscape, offering unparalleled opportunities for innovation and growth. Among the pioneering projects is DODO, a DeFi protocol that leverages a proactive market maker (PMM) algorithm to optimize liquidity and minimize slippage. By mimicking centralized exchanges, DODO's PMM actively shifts buy and sell orders to align with market prices.
DODO is a decentralized exchange (DEX) hosted on Ethereum and Binance Smart Chain, offering an alternative to automated market maker (AMM) technology. Its SmartTrade platform compares liquidity sources to set optimal prices for trading token pairs. Additionally, DODO enables investors to customize fees, crypto ratios, and liquidity depths. The platform also facilitates Crowdpooling and Initial DEX Offerings (IDOs), resolving critical issues like frontrunning.
Founded by Radar Bear and Diane Dai, with a pseudonymous Chinese development team, DODO has secured significant funding. The project received $600,000 in seed funding from Framework Ventures and $5 million from Binance Labs, Pantera Capital, and Three Arrows Capital. Major players like Coinbase Ventures, Alameda Research, Galaxy Digital, and CMS Holdings have also invested in DODO.
DODO's crypto project statistics reveal a total supply of 1 billion tokens, with 110.5 million in circulation. The scheduled release of coins will continue until April 2025. Community incentives account for 60% of tokens, with IDO liquidity, seed sale, operations, marketing, and team/advisors comprising the remaining categories. Despite suffering a security breach in March, DODO's price stabilized at around $1.4 with an upward trajectory.
DODO's all-time-high price was $8.25 on February 21, 2021. As of now, the token's market capitalization sits at $180 million, ranking 51st on DefiPulse. With $78.9 million staked tokens, DODO's total value locked (TVL) continues to grow. Any crypto wallet with a built-in DEX browser allows users to buy and trade DODO tokens.
In conclusion, DODO's PMM approach offers promising solutions for DeFi's liquidity and slippage challenges. While security breaches have occurred, the project's resilience and growth potential make it an attractive addition to a diversified DeFi portfolio. Investors should monitor DODO's developments and consider its potential for future growth.
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