DODO (BSC) is a decentralized exchange (DEX) that uses BSC to power what they call a Proactive Market Maker (PMM). PMM is a different version of an AMM that makes it possible for users to easily trade digital assets and issue new ones.
In addition to collecting liquidity from other decentralized exchanges, the DODO cryptocurrency exchange supplies its own liquidity. Also, it allows swapping various tokens in an easy and permissionless manner while using market orders or limit orders through gasless swap routes. These routes rely on skilled market makers to provide deeper liquidity without incurring any slippage or additional expenses.
There are no KYC requirements for the DODO (BSC) crypto exchange. Besides, it is accessible through the web and mobile devices.
Check out the current DODO (BSC) trade volume above.
Markets
DODO cryptocurrency exchange is a crypto-crypto exchange that does not support fiat currencies. Margin trading is also not available on DODO (BSC). Also, there isn't a conventional DODO (BSC) spot exchange. Instead, ERC tokens are traded throughout the trading process. Standards including ERC-20, ERC-721, and ERC-1155 are supported by the platform. Overall, it has 46 different DODO (BSC) trading pairs.
Bridges and cross-chain swaps are supported in addition to trading inside a single chain. With the help of this function, users can transfer a token from DODO (BSC) to Polygon, Ethereum, or any other network that supports the swap.
The DODO (BSC) exchange fees differ from those of Ethereum, HECO, Polygon, or OKchain due to the multi-chain structure and various network speeds. A normal network fee is charged for each transaction. Limit orders cannot be submitted without paying additional gas. When producing new tokens, there are additional costs. The platform levies a usage fee that differs for each chain. The generation of a token costs 0.05 BNB in DODO (BSC) crypto fees.
The DODO token is the native token of the exchange. It not only serves as the platform's native governance token but is also put to use as an incentive for the provisioning of liquidity. Check out the current DODO (BSC) crypto price here.
Other Services
Apart from trading, there are various other services on the platform. One of these services is DODO token staking. If you currently own DODO tokens, all you need to do to increase your earnings is stake them on the platform.
There is also an option for mining DODO tokens. However, note that mining DODO requires providing liquidity for any trading pair that is supported by DODO and depositing the matching DODO Liquidity Provider (DLP) tokens.
Moreover, there's the DODO NFT Marketplace, which is a protocol for ERC-721 and ERC-1155 tokens. Users are able to utilize their already existing NFTs or generate new ones and then pledge them into the DODO NFT Vault using this feature.
They then have the option of keeping NFTs as unique tokens or fractionalizing them, which involves dividing the NFTs stored in the Vault into many shares and minting fungible tokens to represent each user's portion of those shares. After the Vault gets formed, it becomes possible to construct a liquidity pool for the NFT to set up a market that is both flexible and efficient for trading the fractionalized bits or the complete NFT. This process is known as NFT fragmentation.
Furthermore, there's a liquidity program that allows users to earn income through exchange fees by becoming liquidity providers. By putting money into approved liquidity pools, they can also mine single coins or engage in LP market-making mining.
Lastly, the DODO (BSC) crypto exchange also offers flash loans. They allow token holders to earn passive income by lending their assets to borrowers.
About the Company
DODO (BSC) is a decentralized exchange (DEX) that was first developed on BSC, but it has now evolved to include support for Ethereum, Polygon, and a variety of other blockchains. The BSC version was launched in August 2020. The founders of DODO are Diane Dai, Mingda Lei, and Qi Wang.
Dodo Airlines from the video game "Animal Crossing" served as inspiration for the company name. DODO's first business agreement in China was a $600,000 seed round that closed not long after its start. The total value locked (TVL) was anticipated to be worth over $100 million by October.
However, the DODO cryptocurrency exchange suffered a network vulnerability in March 2021. Four liquidity pools utilized for crowdpooling – WSZO, WCRES, ETHA, and FUSI – were attacked by hackers. The value of the stolen DODO cryptocurrency was $3.8 million. Though the funds that were stolen were returned a day after the theft, totaling about $1.88 million.
DODO's CMO is Diane Dai. She is credited with founding the country's first DeFi community. Dai oversees multiple DeFi groups in addition to working at the exchange, including the oldest WeChat DeFi group in China.
Mingda Lei (or Radar Bear) is the CEO of the DODO cryptocurrency exchange. At Peking University, he had previously been a Physics Ph.D. candidate. He founded a well-known Chinese DeFi project called DDEX. Besides, the DODO platform makes use of PMM technology that was created by Lei.
Lastly, Qi Wang serves as COO. He is a software developer and computer engineer. Dlink Technology and Puzzle Ventures are only two of the blockchain-based startups that Wang co-founded or collaborated with. The DOS Network, which is regarded as the first Oracle project in China, was also built by him.
In January 2023, the DODO (BSC) trade volume ranged around $15 million.
