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DODO is a DeFi protocol and on-chain liquidity provider that uses a proactive market maker (PMM) algorithm to improve liquidity and price stability compared to traditional automated market makers (AMMs). The PMM mechanism mimics human trading by using oracles to get accurate market prices, providing liquidity near those prices to stabilize LP portfolios, reduce slippage, and mitigate impermanent loss through arbitrage incentives. DODO also offers a free initial DODO offering (IDO) for new crypto projects, requiring only token deposits. Its smart contract operates as an ERC20 token on Ethereum.

DODO was launched in August 2020 by Diane Dai, Radar Bear, and an anonymous development team. It initially raised $600,000 in a seed round led by Framework Ventures. In September 2020, the team announced an additional $5 million private sale led by Pantera Capital, Binance Labs, and Three Arrows Capital. Other investors in that round included Coinbase Ventures, Galaxy Digital, CMS Holdings, and Alameda Research.

DODO stands out for its PMM algorithm, conceived in April 2020, which offers low fees and minimal slippage. The team claims it provides better pricing than Uniswap due to a flatter price curve. PMM concentrates liquidity near market prices, adjusting automatically to attract arbitrage and stabilize LP portfolios. This results in favorable pricing, higher capital efficiency, and reduced impermanent loss. Traders get liquidity comparable to centralized exchanges, usable by smart contracts for on-chain operations. LPs have no minimum deposit and can provide any asset type, creating custom trading pairs.

The total supply of DODO tokens is 1 billion, with 12 million currently in circulation. The distribution plan allocates 15% to the core team, future hires, and advisors; 16% to investors; 1% to initial liquidity provision (IDO); 8% to operations, marketing, and partnerships; and 60% to community incentives.

DODO is a decentralized protocol, making it resistant to centralized attacks. Its smart contracts were audited by PeckShield on July 10, 2020, with the report publicly available. However, DeFi protocols carry inherent risks, including potential coding bugs or security vulnerabilities that could lead to exploits and loss of funds.

DODO is tradeable on centralized exchanges like MXC.com, L Bank, and BiKi, as well as decentralized exchanges such as Uniswap V2, Mooniswap, and Dodo itself. For more options, check our crypto exchanges page. If you want to buy cryptocurrencies like Bitcoin or Ethereum with a credit card in your local fiat currency, refer to our guide for instructions.