DODO and WazirX Working Together to Make DeFi Liquidity More Accessible
Bangalore, India– (Newsfile Corp. – March 7, 2022) – DODOa decentralized trading protocol for Web3, and WazirXan India-based cryptocurrency exchange, have collaborated to bring highly accessible liquidity to DeFi.
DODO and WazirX
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DODO uses the Proactive Market Maker (PMM) algorithm, which is designed for the Binance Smart Chain and for Ethereum. PMM is a new model of blockchain creation that uses oracles for efficient price discovery. The PMM also allows customization of the asset ratio and the slope of the price curve.
DODO seeks to enable and expand access to crypto in new and emerging markets. The platform hopes to achieve this by rolling out its products to as many channels as possible, reaching users around the world. DODO’s goal is “to offer the world the gift of open, transparent and decentralized finance!”
The DEX offers highly capital-efficient liquidity pools with an emphasis on scalability, versatility, and flexibility. DODO seeks to provide the best liquidity to trade all assets across multiple chains, including ETH, Polygon, BSC, OEC, and HECO. DODO provides ample liquidity across the spectrum of DeFi networks and scaling solutions, and supports single token provisioning, minimizes slippage for traders, and reduces impermanent losses.
Additionally, DODO also offers SmartTrade for trading and aggregation, as well as crowdpooling for Initial DEX Offering (IDO), mining and pools. SmartTrade is a decentralized liquidity aggregation service that routes and compares various sources of liquidity to indicate the optimal swap rate between two tokens.
The platform was also created to remove obstacles that limit the creation of a liquidity pool for the issuance of new assets such as liquidity depths, asset ratios, fee rates, etc.
DODO will soon revamp the tokenomics for its native membership token, vDODO. Note that the main purpose of vDODO on the platform is to serve as a proof of membership token. There are one billion vDODO tokens serving various public services, including governance, trading fee rebates, and IDO allocations.
Under this new model, vDODO tokens will give their holders the power to vote on community governance proposals, in proportion to the number of tokens held. vDODO tokens, when held for a certain period, also entitle their holders to membership points that can be redeemed for specific trade and governance-related discounts and benefits.
Since its launch, DODO has built vibrant communities in China, the Anglosphere and Japan. The platform seeks to engage more communities through strategic partnerships, participating in DeFi events, conducting engaging community outreach activities, and much more.
Along with revamping its tokenomics, DODO has also been working on releasing its Lite version of the app to provide users with a clutter-free experience. The Lite version will have a sleek minimalist design which is more convenient for users. However, platform users will still have the option to use the older version for users accustomed to the original design.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115799