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DODO enables users to trade various assets across a number of blockchains.

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What is DODO?

What is DODO?

DODO is a decentralized exchange platform based on the Proactive Market Maker (PMM) algorithm. It enables liquidity providers and market makers to concentrate funds and use a number of solutions and products.

DODO's SmartTrade solution also makes it easier to find the most profitable order routing across various aggregated liquidity sources in an attempt to offer the most attractive rates.

In addition, DODO’s tools enable Crowdpooling, Initial DEX offerings (IDOs), pools and mining.

DODO Basics

DODO was launched by Diane Dye and Radar Bear in August 2020. The project’s investors included Pantera Capital, Three Arrows Capital, and Binance Labs.

The protocol’s central component is DODO’s original Proactive Market Maker (PMM) algorithm, which offers users smooth interaction with DeFi.

The PMM model is different from the more common, non-constant function market maker model. In this model, parameters, including asset ratio and curve slope, are often flexibly set. Meanwhile, an oracle machine can be introduced for on-chain guidance of prices or price discovery by the market. This oracle also helps gather more funds near the market value and provides sufficient liquidity.

Among the protocol’s most crucial advantages are deep liquidity and optimal price matching.

DODO Token

DODO Token

DODO is the platform's in-house ERC-20 standard governance token. Dodo crypto has several use cases:

Staking: Token investors can bet on them to receive rewards from this project.

Governance: Those users who have tokens can create offers aimed at managing the project in order to take part in voting for other users' offers with their cryptocurrencies.

Discounts: Holders of token trading on the project are entitled to trading fee rebates.

Crowdpooling and IDO: Those who keep platform tokens can get contributions to take part in mass associations and IDO companies held on the DODO project.

vDODO minting: By staking their cryptocurrencies users can mint vDODO and, therefore, get additional rewards from trading fees.


DODO v2 was launched in early 2021, offering users a number of additional features. In this version, the DODO coin obtained new utilities, as well as the opportunity to use it for trading fee discounts on the platform.

As part of DODO v2, a new token was released – vDODO, aiming to incentivize users’ participation in the loyalty program. The rate for the minting of vDODO tokens was fixed at the level of 1 vDODO = 100 DODO.

vDODO owners receive dividends from trading commissions, as well as membership rewards in addition to the profits provided for owning DODO tokens.

The idea of vDODO assets is to foster long-term involvement in the loyalty program. Therefore, if a user wants to exchange vDODO to DODO, they will have to pay an exit fee.

Among other new features rolled out in DODO v2 were trading mining and combiner harvest, both aimed at encouraging users’ more active interaction with the protocol.

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August 2020

Pre-launch with liquidity providers, the first participants collected exclusive rewards.

December 2020

DODO v1.5 was launched.

February 2021

DODO v2 public beta launch.

March 2021

Its new NFT tool was implemented.

April 2021

The protocol joined the Ryobi ECO (ECO) network, which includes aggregated sources of liquidity from MDEX, BXH, Pippi Finance, MDI and others.

June 2021

  • DODO became the first member of the original Arbitrum DeFi cohort.
  • DODO was launched on the Polygon network.

July 2021

DODO announced a collaboration with the Nine capital on THORSwap and THORChain.

August 2021

everFinance collaborated with DODO, and joined the Mini Booster Program.

September 2021

DODO announced a strategic partnership with Mao DAO, a leading DAO and NFT community focused on the "play to earn" model in Asia.

DODO investors

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