What is the issuance and circulation of DODO coins?

DODO Coin, the native token of DODOEX, has a circulating supply of approximately 496 million tokens, representing 49.6% of its total supply.

Nov 04, 2024 at 12:04 pm

Issuance and Circulation of DODO Coins

DODO Coin (DODO) is the native token of the decentralized exchange platform DODOEX. Here's an overview of its issuance and circulation:

1. Initial Issuance

• DODO was launched through an initial decentralized exchange offering (IDO) on August 21, 2020.
• A total of 1 billion DODO tokens were created at launch.

2. Token Distribution

• Ecosystem: 70%
• Team and Advisors: 15%
• Seed Investors: 10%
• Public IDO: 5%

3. Token Release Schedule

The 70% of DODO allocated to the ecosystem is released over a four-year period according to the following schedule:

• Year 1: 10%
• Year 2: 20%
• Year 3: 25%
• Year 4: 25%

4. Circulation

As of February 2023, the circulating supply of DODO is approximately 496 million tokens. This constitutes roughly 49.6% of the total supply.

5. Uses of DODO

DODO tokens are used for various purposes within the DODO ecosystem, including:

• Staking: Users can stake DODO to earn rewards and participate in governance.
• Governance: DODO holders can vote on important proposals related to the platform's development and operations.
• Trading Fees: DODO can be used to pay trading fees on DODOEX, receiving discounts.
• Liquidity Provision: Users can provide liquidity to the DODO platform to earn a share of trading fees.

Conclusion

DODO Coin (DODO) is the native token of the DODOEX decentralized exchange platform. It was initially issued through an IDO in 2020 and has a circulating supply of approximately 496 million tokens. DODO tokens are used for staking, governance, trading fee payments, and liquidity provision within the DODO ecosystem. The token's distribution and release schedule are designed to ensure long-term stability and growth.