When was DODO coin issued? Learn about the origin of DODO coin in one article

DODO Coin, the native token of the DODO platform, enables governance, transaction fees, insurance coverage, and rewards for staking and liquidity mining.

Oct 30, 2024 at 03:05 am

1. What is DODO Coin?

DODO (Decentralized Orderbook DEX) is a decentralized exchange platform that aims to provide users with a low-slippage, capital-efficient trading experience. It employs a unique "Proactive Market Maker" (PMM) algorithm that eliminates the need for traditional order books and aims to reduce slippage, especially for large trades.

2. Origin of DODO Coin (DODO)

DODO Coin (DODO) is the native token of the DODO platform. It was first launched through an initial DEX offering (IDO) on Binance Launchpad on August 15, 2020. At the time of its launch, the total supply of DODO was 100 million tokens.

3. Use Cases of DODO Coin

DODO Coin has several use cases within the DODO platform, including:

• Governance: DODO holders can participate in community governance decisions by voting on proposals related to platform development and operations.
• Fees: DODO is used to pay transaction fees on the DODO platform.
• Insurance: DODO can be staked to provide liquidity for the platform's insurance pool, which covers any potential losses due to smart contract exploits or other platform issues.
• Rewards: DODO holders can earn rewards through staking and participating in liquidity mining programs.

4. Key Features of DODO Coin

• Unique PMM Algorithm: DODO employs a PMM algorithm that allows for efficient and low-slippage trading by using price oracles and liquidity pools.
• Cross-Chain Compatibility: DODO supports cross-chain trading, enabling users to trade assets across multiple blockchain networks.
• Open Source: The DODO protocol is open source, allowing for transparency and community contributions.
• Community Governance: DODO Coin holders can shape the platform's future through community governance mechanisms.

5. Distribution of DODO Coin

The initial distribution of DODO Coin was as follows:

• Team (15%): 15 million DODO
• Marketing (15%): 15 million DODO
• Ecosystem (10%): 10 million DODO
• Seed (15%): 15 million DODO
• Private (15%): 15 million DODO
• IDO (20%): 20 million DODO