Dependable and diverse yields: Inside the yAxis v3 upgrade and UIRead on the DeFi Pulse Blog

Key Stats

Total Value Locked24H
in USD$70.1M-9.6%
in ETH23.2K ETH-5.7%
in BTC1.6K BTC-5.6%
ETH Locked4.89K ETH+18 ETH
% Supply Locked< 0.01%
Most Locked$WETH
Protocol Token$DODO

Total Value Locked (USD) in DODO

  • TVL (USD)
  • ETH
  • BTC
  • DAI
  • All
  • 1 Year
  • 90 Day
  • 30 Day
defipulse chart

What is DODO?

DODO Exchange is a capital-efficient, low-slippage on-chain liquidity provider built on Ethereum and powered by the Proactive Market Maker (PMM) algorithm. Featuring single-asset liquidity and working to solve impermanent loss, DODO offers a smooth trading experience and lucrative liquidity provision opportunities. PMM leverages price oracles and mimics the behaviors of human market makers, and the pricing formula efficiently allocates funds near the market price. This translates to a high level of liquidity on par with centralized exchanges. LPs can provide single-sided liquidity for mainstream trading pairs. When a trade takes place, PMM dynamically adjusts the price by encouraging arbitrage trading in order to rebalance LPs’ portfolios and minimize price risks and counterparty risks for LPs. This is an attempt to mitigate the notorious issue of impermanent loss inherent to AMMs. DODO was launched in August 2020 and has been audited by PeckShield and Trail of Bits. The DODO protocol is governed by the DODO token, which is distributed through a series of community incentive programs called “DODO Carnival”.

How to use DODO?

The DODO Exchange offers traders a platform to swap between two tokens. For liquidity providers, the Pool tab dashboard allows them to add and remove liquidity to/from different pools at any time.

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