DODO is a decentralized finance (DeFi) protocol and on-chain liquidity provider that utilizes a unique proactive market maker (PMM) algorithm. This algorithm strives to provide superior liquidity and price stability compared to other automated market makers (AMM). The PMM pricing mechanism, which simulates human trading, uses oracles to gather highly accurate market prices for assets. It then aims to ensure sufficient liquidity close to these prices to stabilize the portfolios of liquidity providers, reduce price slippage, and mitigate impermanent loss by allowing arbitrage trading as a reward. DODO also supports new crypto projects with an Initial DODO Offering (IDO), requiring issuers to only provide their own tokens. DODO operates as an ERC20 token on the Ethereum network.

DODO's PMM algorithm collects funds near market prices to establish enough liquidity, which decreases quickly the further the price moves from the market price. DODO automatically adjusts market prices to attract arbitrage, helping to keep liquidity provider portfolios stable. This results in more favorable pricing, higher fund utilization, and decreased price slippage. For traders, DODO aims to offer sufficient liquidity comparable to that of centralized platforms, which can be natively used by smart contracts for on-chain transactions such as liquidation and auctions. Liquidity providers can create their own trading pairs, provide their own tokens to mitigate price risk, and may receive a portion of DODO transaction fees as compensation.

DODO's unique PMM algorithm and liquidity provision model open up a range of potential use cases. For traders, DODO aims to provide sufficient liquidity for on-chain transactions, such as liquidation and auctions. Arbitrageurs can take advantage of price differences between DODO and other platforms. Liquidity providers can create their own trading pairs, provide their own tokens to mitigate price risk, and may receive a portion of DODO transaction fees as compensation. Additionally, DODO offers a platform for new crypto projects to list their tokens through an Initial DODO Offering (IDO), providing a launchpad for these projects to gain exposure and liquidity.

DODO was officially launched in August 2020, founded by Diane Dai, Radar Bear, and an anonymous development team. The project initially received a $600,000 seed round led by Framework Ventures. In September 2020, the team announced the successful completion of an additional $5 million private sale funding round, led by Pantera Capital and Three Arrows Capital. The private sale round also received funding from several other venture capital firms and trading firms. DODO's smart contracts were audited by PeckShield, a blockchain security company, on July 10, 2020.

We update our DODO to INR currency in real-time. Get the live price of DODO on Coinbase.

The current market cap of DODO is ₹2.44B. A high market cap implies that the asset is highly valued by the market.

The all-time high of DODO is ₹736.77. This all-time high is highest price paid for DODO since it was launched.

Over the last 24 hours, the trading volume of DODO is ₹415.49M.

Assets that have a similar market cap to DODO include Pangolin, AI Rig Complex, Syscoin, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of DODO is 726 million.