Bengaluru, India – (Newsfile Corp. – March 7, 2022) – DODO, a decentralized trading protocol for Web3, and WazirX, an India-based cryptocurrency exchange, have partnered to bring highly accessible liquidity to DeFi.
DODO and WazirX
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DODO uses the Proactive Market Maker (PMM) algorithm developed for the Binance Smart Chain and for Ethereum. PMM is a new blockchain creation model that leverages oracles for efficient pricing. PMM also allows adjusting asset ratio and price curve slope.
DODO strives to enable and expand access to crypto in new and emerging markets. The platform hopes to do this by using their products in as many chains as possible and reaching users all over the world. DODO’s goal is “to bring the gift of open, transparent, and decentralized funding to the whole world!”
The DEX features highly capital-efficient liquidity pools that emphasize scalability, versatility and flexibility. DODO strives to provide the best liquidity for trading assets across multiple chains including ETH, Polygon, BSC, OEC and HECO. Providing ample liquidity across the spectrum of DeFi networks and scaling solutions, DODO supports single token deployment, minimizing slippage for traders and reducing fickle losses.
In addition, DODO also offers SmartTrade for trading and aggregation, as well as crowdpooling for Initial DEX Offerings (IDOs), mining and pools. SmartTrade is a decentralized liquidity aggregation service that routes to different liquidity sources and compares them to offer the optimal swap rate between any two tokens.
The platform was also created to remove barriers that limit the creation of liquidity pools for new asset issuance such as liquidity depths, asset ratios, fee rates and more.
DODO tokenomics
DODO will soon overhaul the tokenomics for its native membership token vDODO. Note that the main purpose of vDODO on the platform is to serve as proof of membership token. There are a billion vDODO tokens serving various utilities including governance, trading fee discounts, and IDO allocations.
The story goes on
Under this new model, vDODO tokens give their holders the power to vote on community governance proposals in proportion to the number of tokens held. When held for a period of time, vDODO tokens also give their holders membership points that can be redeemed for certain trading and admin-related discounts and benefits.
Since its inception, DODO has built vibrant communities in China, the Anglosphere and Japan. The platform strives to onboard more communities through strategic partnerships, attending DeFi events, conducting dedicated public relations, and more.
Along with overhauling its tokenomics, DODO has also been working on releasing its lite version of the app to provide users with a clean experience. The Lite version will have a sleek, minimalist design that will be more convenient for users. However, users of the platform still have the opportunity to use the old version for users who are accustomed to the original design.
media contacts
Name – Priyanka Sharma & Devashree Kulwal
Company- WazirX
Email [email protected]
Telegram – WazirX
Twitter – WazirX
LinkedIn- WazirX
PR contacts
Name – Samiran Mondal
Company- https://newscoverage.agency/
Email: [email protected]
Telegram – https://t.me/samiranmondal
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115799
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