DODO

DODO is a decentralized exchange (DEX) that launched in August 2020, positioning itself as a capital-efficient on-chain liquidity provider. The company was co-founded by Diane Dai, Mingda Lei (who also goes by the pseudonym Radar Bear), and Qi Wang. The founding team brought significant experience from China's DeFi community; Dai established the first DeFi-focused community in China, Lei was a core developer at another DeFi project, DDEX, and Wang founded the oracle project DOS Network. Their collective background in decentralized finance and blockchain infrastructure shaped the core technology of the DODO platform.

The exchange operates on a business model centered around its proprietary Proactive Market Maker (PMM) algorithm, which distinguishes it from traditional Automated Market Makers (AMMs) like Uniswap. This PMM system is designed to mimic human market-making by using price oracles to gather real-time asset prices, thereby concentrating liquidity near the market price. This mechanism aims to offer lower slippage for traders and higher capital efficiency for liquidity providers. Revenue is generated from trading fees, a portion of which is redistributed to users who stake the native DODO token. The platform caters to a broad range of clients, from individual crypto traders to new projects seeking to launch their tokens through Initial DODO Offerings (IDOs).

DODO's core product is its multi-chain decentralized exchange, which is available on networks including Ethereum, BNB Chain, and Arbitrum. A key feature stemming from its PMM algorithm is the ability for liquidity providers to deposit single assets, rather than the pairs required by many other DEXs, which helps to mitigate impermanent loss. Beyond simple token swaps, DODO provides several services, including SmartTrade, which aggregates liquidity to find optimal trading routes, and Crowdpooling, a feature for equitable token distribution without the risk of front-running. The platform also includes an NFT marketplace for trading ERC-721 and ERC-1155 tokens and allows for NFT fragmentation, converting them into more liquid ERC-20 assets.

Keywords: decentralized exchange, Proactive Market Maker, PMM, on-chain liquidity, low slippage, single-asset liquidity, impermanent loss, Diane Dai, Mingda Lei, DeFi, crypto trading, token swap, liquidity provider, Initial DODO Offering, IDO, SmartTrade, Crowdpooling, NFT marketplace, DODO token, multi-chain DEX, capital efficiency