Are you looking for an honest DODO Review? Search no more because, in this article, we will be reviewing DODO honestly, we will also explain how it works, its pros and cons, and everything you need to know about the platform.
What is DODO| DODO Review
According to bulliscoming
DODO is a Chinese decentralized finance (DeFi) protocol and on-chain liquidity provider whose unique proactive market maker (PMM) algorithm aims to offer better liquidity and price stability than automated market makers (AMM).
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The Youtube video below will help you understand the platform better
How to buy DODO
You can buy DODO on the following platforms;
- MXC.com
- L Bank
- BiKi
- Uniswap V2
- Mooniswap, and
- Dodo
Below are the steps to buy a DODO
- Visit the Coinbase website and sign up.
- Deposit funds into your Coinbase account
- Now buy either Bitcoin or Ethereum
- Transfer your Bitcoin to your Binance account.
- On Binance, You can now exchange your crypto to DODO
What is PMM?
Developed by the DODO team, Proactive Market Maker (PMM) is an oracle-aided algorithm with an advanced pricing formula that provides contract-fillable liquidity. Traders get lower slippage with PMM than AMMs.
DODO Features
Liquidity Protocol
DODO is a liquidity protocol powered by the Proactive Market Maker (PMM) algorithm and built for capital efficiency.
Contract-Fillable Liquidity
DODO’s contract-fillable liquidity is comparable to centralized exchanges (CEXs)
Price Discovery
DODO offers a low barrier-to-entry, pain-free token issuance mechanic for long-tail assets
Other features include;
- Exchange
- Crowdpooling and
- Mining
How DODO Works
DODO accepts liquidity providers’ assets. It gathers funds near market prices to provide sufficient liquidity. In order to minimize counterparty risks for LPs, DODO dynamically adjusts market prices to encourage arbitrageurs to step in and stabilize LPs’ portfolios
Who is the Owner of DODO?
The owner of the DODO company is known on the internet which is a good indication of the legitimacy of the website.
Because one of the conditions for a legit website is that it must contain the owner’s information so that someone can be held responsible if anything goes wrong.
DODO is owned by Vocus Communications.
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The benefit of Joining DODO
In DODO you can benefit both as a trader or an LP
Below are some of the benefits you get as a trader
- Sufficient liquidity
- Price discrepancies
Benefit as an LP
- No minimum deposit requirements
- No restrictions on asset types
- Fees charged on each transaction are distributed to LPs as a reward
- As an LP, you can create trading pairs with their own tokens
DODO Contact Information
Just in case you have any need to contact DODO, you can do that using their email address below.
DODO Review | Is DODO Legit or Safe?
At the time of writing this article, we can say that DODO is legit and Safe.
Based on a report,
DODO’s smart contracts were audited by PeckShield, a blockchain security company, on July 10, 2020. Its audit report on DODO can be accessed here.
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