DODO

The DODO team conceived the Proactive Market Marker (PMM) algorithm in April 2020 and quickly iterated on a proof of concept through May 2020. Two months later, the team moved to finish the smart contract development phase and completed a comprehensive audit. DODO was pre-launched with an early bird campaign on Aug. 15, 2020, with participation from traders and liquidity providers. According to the DODO team, data from its early-bird campaign showed that DODO could provide better execution than Uniswap with only 1/10th of the pooled capital while sustaining a 40% APR return for LPs (without any liquidity mining rewards).

Initially born on the Ethereum network, the DODO team started v2 development in October 2020, with a focus on dual-chain development and deployment for both Ethereum and Binance Smart Chain (BSC). The v2 Beta went live on Feb. 22, 2021, with the following additional features: liquidity source aggregation and SmartTrade, asset issuance tool (crowd pooling), custom-ratio liquidity market creation (DODO Vending Machine), flexible liquidity pool solutions for professional market makers (DODO private pool), liquidity mining rewards for BUSD-USDT stablecoin pair on BSC. Together with the launch of v2 saw ushering of new tokenomics, including governance capabilities and two new utilities for holders, Crowdpooling and IDO allocations and trading fee discounts on DODO.