If you want to use a Decentralized Exchange (DEX) you are in luck. There are loads of DEXs out there to help you. But DODO is a DEX with some innovative features that deserves a look. It also caters to projects that need to mint and offer tokens without a lot of hassle. If you don’t know much about DODO, you should keep on reading!
DODO Delivers Unique Ideas
DODO sees itself as an innovator in the DEX space. It describes the platform as a, “liquidity protocol powered by the Proactive Market Maker Algorithm and built for capital efficiency.” In reality it is a lot more than a trading tool that competes with centralized exchanges.
When it comes to trading, it offers a unique Proactive Market Maker (PMM) algorithm that works to make on-chain liquidity as efficient as possible for Web3 assets. It applies to trading, but also to anyone who wants to issue Web3 assets.
Like most of the DEXs, DODO also offers staking opportunities. It also has features aimed at NFT issuers and traders. In fact, for token issuers DODO is one of the most compelling options across the board!
Multiple Chains Supported
DODO’s DEX started off as an ETH based platform, but it has grown to support most of the leading blockchains. The swaps on DODO are as easy to do as on any other DEX, and most users will find more than enough liquidity to maintain competitive pricing.
DODO supports:
- ETH
- Arbitrum
- HECO
- Polygon
- OKC
- Aurora
- BSC
- Moonriver
- Boba
Using the exchange requires a wallet like MetaMask, or other wallets including Math Wallet, TokenPocket, MetaMask Mobile, Coin98 Wallet, imToken, BitKeep, or Trust Wallet. Other wallets may be supported as well, so check with DODO if you need to know more.
The DODO Proactive Market Maker (PMM) Algorithm
DODO sets itself apart from the DEX pack with its Proactive Market Maker (PMM) Algorithm. Other popular DEXs use an Automated Market Maker (AMM) Algorithm, which DODO thinks lacks the efficiency that its PMM offers.
With DODO’s PMM, impermanent loss is removed from trades and liquidity improves, at least that is the goal. It’s true that many AMM models are basic and outdated, so the PMM is worth a look. The DODO PMM does adapt to market conditions in real-time, which seems like a plus for traders.
For most users, popular assets will trade without much slippage and will be totally liquid.
Trades are fast, and with the PMM operating via Chainlink oracles, the pricing is extremely competitive. DODO has extensive documentation on how the PMM works, and why it thinks the PMM is a better option than the AMMs in use on other DEXs.
DODO: The Chainlink Connection
DODO uses Chainlink oracles to establish pricing information for its PMM. As one of the best oracle platforms in the blockchain space, the Chainlink data is a great asset to the PMM. However, if you don’t love the idea of Chainlink being at the center of the pricing model, you may not love the DODO PMM system.
DODO’s Features
DODO is a lot more than a simple DEX. It offers loads of features to Liquidity Providers (LPs), traders, and other crypto professionals.
Here are some of the great features on the DODO DEX platform:
DODO for LPs
DODO offers some cool features for LPs on the platform. LPs don’t have to hold both sides of a token pair to participate in a liquidity pool. For example, if you want to provide liquidity for ETH/USDT, you can choose to stake ETH, USDT or both. You don’t have to hold both to participate, which is an advantage over other DEXs.
DODO Mobile
DODO offers loads of features on its mobile trading interface. You don’t have to be at a desktop to use DODO, which operates on many of the best decentralized wallets.
Gasless Swaps
For swaps on both ETH and BNB chain, DODO users can use gasless swaps. The swaps are sent to a pro market maker with huge liquidity, so you don’t have to pay any gas fees.
Trading Tools
There are loads of trading settings to choose from on the DODO exchange. You just have to jump into your settings panel, and set up your trading tools in any way you like.
Here are some of the tools you can change to fit your preferences:
Transaction Deadline: You can choose how long a transaction is given to complete. If the transaction isn’t completed by the deadline you set, it will be canceled automatically.
Slippage Tolerance: There will always be a difference between the live market price and the price you are quoted. You can set a low slippage tolerance to keep slippage low. Keep in mind that you will need to allow some slippage in this setting, otherwise your trades will fail.
Private Swap: You can avoid sandwich attacks that happen due to a mismatch between your slippage settings and the price in a liquidity pool by using the private swap feature.
Disable Indirect Routing: If you want to make sure that you only use the tokens needed for your swap, and avoid third or fourth tokens, use this feature. You avoid extra gas fees, and also limit other traders’ ability to frontrun your trade.
Expert Mode: You may receive alerts when token slippage is high. Especially with smaller tokens, slippage is a real risk. If the token slippage is over 20%, you will need to use expert mode to approve transactions.
SmartTrade: With smart trade, DODO looks for the best order routes from aggregating liquidity sources. You will get attractive prices with the deepest liquidity possible.
DODO Vending Machine
If you want to create a liquidity market for a token, you can use the DODO vending machine. It allows any wallet to create a non-custodial, decentralized market that anyone can access. For anyone who wants to create a token and sell it, this is a neat option.
The cool thing about the DODO vending machine is that it’s permissionless. DODO will let anyone create a token and sell it. There is no censorship, so marketing a new token with this feature is a breeze.
DODO Private Pool
For anyone who needs more control over a liquidity pool, the DODO Private Pool is a compelling option. It provides more features, such as:
- Constant price market
- Avoiding downside risk
- Active price discovery
- Return traditional AMM model
Crowdpooling
If you need a way to distribute tokens in an equitable way, the Crowdpooling feature on DODO is a winner. It prevents frontrunning and other tricks, so everyone gets the tokens they deserve.
DODO: Token Creation
Creating tokens with DODO is a snap. You can issue tokens on a variety of blockchains with DODO. Then, if you want to start selling them, just hit the DODO vending machine!
Here are the fees for creating tokens with DODO:
- ETH: 0.02 ETH
- Arbitrum: 0.002 ETH
- BSC: 0.05 BNB
- Moonriver: 0.05 MOVR
- HECO: 5 HT
- Polygon: 1 MATIC
- OKchain: 0.1 OKT
- Boba: 0.002 ETH
- Avalanche: 0.1 AVAX
DODO – The Winning DEX With Something For Everyone
DODO is a great DEX that offers more to traders and token issuers than simple swaps. It’s not hard to use for anyone who is new to the space. It also has loads of advanced features that make it a pro-level tool. You can learn more about DODO on its X account, and see how the platform is committed to leading the DEX space!
