DODO is a decentralized cryptocurrency exchange (DEX) that was launched in 2021. Initially, it was launched on Ethereum. However, it was later integrated into other chains, one of which is Arbitrum. The exchange uses the PMM algorithm to provide on-chain liquidity to Web3 assets. It provides both its own liquidity and aggregated liquidity from other exchanges to offer the best prices to its users. The DODO crypto exchange aims to support a multi-chain Ethereum ecosystem. The platform was launched after a seed round that took place in 2020.
The DODO (Arbitrum) cryptocurrency exchange does not require users to complete the KYC process. The exchange also has yet to disclose which regions are able to access its services. Besides, DODO does not have a mobile application, however, it can be accessed through the web browser on any device.
The PMM algorithm and contract-fillable liquidity employed by the DODO (Arbitrum) cryptocurrency exchange help the protocol support all Ethereum-compatible blockchains. It also makes the ecosystem more efficient by improving its scalability and speed. Since the DODO exchange allows users to trade through the swapping feature, there is no DODO (Arbitrum) spot market.
DODO is the native token of the DODO (Arbitrum) crypto exchange. It is a governance token that gives holders voting rights and also makes them eligible for other rewards and incentives, such as a reduction in DODO (Arbitrum) exchange fees. The more DODO tokens you hold, the higher your voting power on the platform is.
Talking about the DODO (Arbitrum) crypto fees, liquidity providers have zero fees, while the protocol fees remain the same for all the DODO (Arbitrum) trading pairs. 75% of fees are allocated for the repurchase of DODO, while 25% goes to the community vault.
The exchange also allows users to earn passive income through staking LP tokens.
Besides that, it offers the Crowdpooling feature, which provides new projects with fundraising options.
Moreover, DODO gives users the ability to get flash loans. What this means is that you can buy tokens on the platform with credit and then pay for them later. Since the DODO crypto prices are quite accurate to market values, users are able to get decent deals using this service.
Also, DODO has a Bug Bounty program where it rewards users for reporting any bugs or other vulnerabilities on the platform.
Lastly, DODO has a separate site that serves as an NFT marketplace. You can buy and sell NFTs on this platform. Besides, if you are able to provide DODO with a report that proves that you found better trading prices elsewhere, you will be rewarded with an NFT.
About the Company
DODO is an innovative algorithm-driven decentralized trading platform. Mingda Lei, Qi Wang, and Diane Dai are the three co-founders of DODO. In 2020, the DODO cryptocurrency exchange was initially developed on Ethereum. Later, though, it began to include other chains as well, such as BNB Chain, Arbitrum, Polygon, and others. Talking specifically about Arbitrum, the procedure to incorporate DODO into it began on May 28, 2021.
The CEO of the DODO cryptocurrency exchange is Mingda Lei. He was a key developer at the margin trading site DDEX prior to developing the PMM model that is used by the protocol.
CMO Diane Dai oversees all marketing activities and acts as the public face of several outreach programs for humanitarian organizations. Diane communicates with the community on WeChat through a number of channels, including one called "Defi Labs."
Lastly, Qi Wang is also the founder of Puzzle Ventures. He has previously held positions as a software developer at D-Link Technology and Oracle.
The business received more than $5 million from multiple VC firms. This also includes companies like Galaxy Digital, Defiance Capital, and Coinbase Ventures.