DODO and WazirX Working Together to Make DeFi Liquidity More Accessible
Bengaluru, India--(Newsfile Corp. - March 7, 2022) - DODO, a decentralized trading protocol for Web3, and WazirX, an Indian-based cryptocurrency exchange, have been collaborating to bring highly accessible liquidity to DeFi.
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DODO uses the Proactive Market Maker (PMM) algorithm, which is built for the Binance Smart Chain and for Ethereum. PMM is a new blockchain-making model that utilizes oracles for efficient price discovery. PMM also allows the asset ratio and slope of the pricing curve to be customized.
DODO seeks to enable and expand access to crypto in new and emerging markets. The platform hopes to do so by deploying its products on as many chains as possible, reaching users across the globe. DODO's goal is "to give the whole world the gift of open, transparent, and decentralized finance!"
The DEX features highly capital-efficient liquidity pools, emphasizing scalability, versatility, and flexibility. DODO seeks to provide the best liquidity for trading any assets across multiple chains, including ETH, Polygon, BSC, OEC and HECO. DODO provides ample liquidity across the full spectrum of DeFi networks and scaling solutions, and supports single-token provision, minimizes slippage for traders, and reduces impermanent loss.
In addition, DODO also offers SmartTrade for trading and aggregation, as well as Crowdpooling for Initial DEX Offering (IDOs), mining, and pools. SmartTrade is a decentralized liquidity aggregation service that routes to and compares various liquidity sources to quote the optimal swap rate between any two tokens.
The platform was also created to eliminate hindrances that limit liquidity pool creation for the issuance of new assets such as liquidity depths, asset ratios, fee rates, and more.
DODO will soon revamp the tokenomics for its native membership token, vDODO. Note that vDODO's primary purpose on the platform is to serve as a proof of membership token. There are one billion vDODO tokens serving various utilities, including governance, trading fee discounts, and IDO allocations.
Under this new model, vDODO tokens will give their holders the power to vote on community governance proposals, proportional to the number of tokens held. vDODO tokens, when held for a certain period, also give their holders Membership Points that can be redeemed for specific trade- and governance-related rebates and benefits.
Since its launch, DODO has built vibrant communities in China, the Anglosphere, and Japan. The platform is seeking to have more communities on board via strategic partnerships, participating in DeFi events, conducting engaging community outreach, and much more.
In addition to revamping its tokenomics, DODO has also been working on releasing its Lite version of the app to provide users a clutter-free experience. The Lite version will have a sleek minimalistic design that is more convenient for users. However, users of the platform will still have the option to use the old version for users who are accustomed to the original design.
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