DODO
Decentralized Trading Protocol for Web3, Powered by the Proactive Market Making (PMM) algorithm.
Decentralized Trading Protocol for Web3, Powered by the Proactive Market Making (PMM) algorithm.
DODO has integrated Binance Wallet into its SmartTrade aggregation service, giving users of the wallet access to DODO's liquidity and pricing. The move is aimed at smoother trading across the DEX's aggregated routes.
DODO introduced DODOchain, its first Layer-3 solution built on Arbitrum Orbit and powered by EigenLayer and AltLayer, designed to aggregate cross-chain liquidity across Bitcoin and Ethereum Layer-2s. Mainnet Phase 1 went live shortly after.
Attackers exploited a flaw in several V2 Crowdpools (including a counterfeit-token minting vector) to drain roughly $3.8 million; DODO recovered about $1.88 million and planned to return funds to affected users.
The DODO V2 beta launched with liquidity-source aggregation and SmartTrade, an asset-issuance/crowdpooling tool, custom-ratio and private-pool market making, plus new tokenomics adding governance and Crowdpooling/IDO utilities.
The $5 million private sale was led by Binance Labs and co-led by Pantera Capital and Three Arrows Capital, with participation from Galaxy Digital and Coinbase Ventures, at a $50 million valuation.
DODO's governance token went into circulation through an IDO on the DODO Exchange itself, listing a DODO-USDT pair at an initial price of $0.10, with 1% of the 1 billion total supply set aside as initial liquidity.
The seed round was led by Framework Ventures with participation from DeFiance Capital, SevenX Ventures, and individual angels including Robert Leshner; DODO also detailed its roadmap toward a three-DAO governance structure.
Cofounder Diane Dai published DODO's debut announcement introducing the protocol and its proprietary PMM algorithm, an on-chain liquidity model designed to concentrate funds near the market price and reduce impermanent loss; an early-bird campaign followed on August 15.
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