The project employs the BNB Chain to run what is described as a "proactive market maker". To do this, the exchange employs an AMM developed expressly for its needs. This facilitates the buying and selling of digital assets and the creation of new ones.
Tokens of different types may be easily and without authorization swapped via market orders or limit orders thanks to gasless swap routes, which depend on seasoned market makers to offer deeper liquidity without incurring any slippage or extra fees.
The DODO (Polygon) crypto exchange is accessible through mobile devices and does not require KYC verification from its users.
Initially, the DODO exchange was built on Ethereum. However, it also was later integrated into other chains, including Polygon.
DODO (Polygon) cryptocurrency exchange is a crypto-crypto exchange that does not support fiat currencies. Also, margin trading is not available on DODO.
The exchange provides trading on 13 different DODO (Polygon) spot markets, with USDT/USDC, MATIC/USDC, and ETH/USDC being the most popular DODO (Polygon) trading pairs among those markets as of writing. Check out the DODO (Polygon) trade volume above.
The DODO token is the platform's native token that acts as the governance token, which is also used as an incentive for providing liquidity and covering DODO (Polygon) crypto fees.
DODO (Polygon) exchange fees on the Polygon chain are also an aspect that the members of the community can vote for. At the time of writing, the liquidity providers have zero fees, while the protocol fees remain the same for all trading pairs. For instance, when trading the USDC/USDT pair, users have to pay a 0.002% fee.
Apart from trading, the DODO (Polygon) crypto exchange allows users to earn interest. Staking DODO is a straightforward way of doing that.
Also, there's the DODO NFT Vault, which is an alternative asset protocol that facilitates price discovery and liquidity. Users may commit to their current NFTs or create new ones to store in the DODO NFT Vault.
Besides, users may choose to maintain the NFTs as unshareable tokens, or you they can fractionalize them. This means splitting the NFTs held in the Vault into numerous shares and minting fungible tokens to represent each user's share. Once the Vault is established, a liquidity pool for the NFT may be built, allowing for the creation of a market in which the fractionalized bits or the whole NFT can be traded in a way that is both flexible and efficient. This market is propelled by DODO's Proactive Market Maker (PMM) algorithm.
About the Company
DODO cryptocurrency exchange was first built on Ethereum in 2020. However, it then expanded to other chains including BNB Chain, Polygon, and others. Talking about Polygon, DODO was launched on it in 2021.
DODO was co-founded by Mingda Lei (aka Radar Bear), Diane Dai (aka Dai Dai), and Qi Wang.
Mingda Lei is also the CEO of the DODO crypto exchange. Before establishing the PMM model used by the protocol, he was a key developer at the margin trading platform DDEX.
Diane Dai holds the position of CMO. She is in charge of all marketing efforts and serves as the public face of a number of charitable outreach initiatives. Diane maintains a variety of channels on WeChat, including one titled "Defi Labs," through which she interacts with the community.
Qi Wang is also the founding member of Puzzle Ventures. In the past, he worked as a software developer at Oracle and D-Link Technology.
The company raised over $5 million in funding from various VC companies. This includes Coinbase Ventures, Defiance Capital, Galaxy Digital, and others.