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DODO is a decentralized finance (DeFi) project aimed at improving the limitations of decentralized exchanges (DEXs). It introduces a Proactive Market Maker (PMM) system as an alternative to Automated Market Makers (AMMs), which are commonly used by platforms like Uniswap. DODO’s PMM focuses on solving liquidity inefficiencies and reducing slippage, issues often faced in AMMs. By adjusting buy and sell orders to market prices, and utilizing oracles for real-time data, DODO creates a more efficient trading environment.
DODO launched in August 2020 and quickly gained support, raising $600,000 in seed funding and an additional $5 million from Binance Labs, Pantera Capital, and other big investors. Its native token, DODO, is used for governance, staking, and earning rewards. The token saw its peak price in February 2021 but faced a $3.8 million hack in March. Despite this, DODO has shown resilience in the market, and its innovative approach continues to attract attention in the DeFi space.
The total supply of DODO tokens is 1 billion, with 110.5 million currently in circulation. The token is distributed across community incentives, private sales, team allocations, and liquidity pools. While DODO experienced an exploit it aimed to prevent, it remains a competitive player in DeFi, with potential for growth due to its unique PMM algorithm.
