What is DODO DeFi and how does it work?

3 answers

• Feb 17, 2022 · 3 years ago
  DODO DeFi is a decentralized finance protocol that aims to provide efficient and low-slippage trading for cryptocurrency assets. It utilizes a unique algorithm called Proactive Market Maker (PMM) to maintain liquidity and reduce impermanent loss. PMM dynamically adjusts the price of an asset based on its supply and demand, ensuring that traders can execute trades with minimal slippage. DODO DeFi also offers features such as customizable liquidity pools and on-chain governance, allowing users to participate in the platform's decision-making process.
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• Feb 17, 2022 · 3 years ago
  DODO DeFi works by incentivizing liquidity providers to deposit their assets into liquidity pools. These pools are then used to facilitate trading on the platform. Liquidity providers earn fees from trades made on their deposited assets, and they also receive DODO tokens as rewards. DODO DeFi's algorithm ensures that liquidity is always available for traders, even during periods of high volatility. This helps to prevent large price swings and reduces the risk of manipulation. Overall, DODO DeFi aims to create a more efficient and user-friendly trading experience in the cryptocurrency market.
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• Feb 17, 2022 · 3 years ago
  DODO DeFi is similar to other decentralized exchanges like Uniswap and SushiSwap, but it offers some unique features. For example, DODO DeFi's SmartTrade feature allows users to execute large trades with minimal slippage by splitting them into multiple smaller trades. This helps to reduce the impact on the market and provides a better trading experience. Additionally, DODO DeFi has partnered with BYDFi, a leading cryptocurrency exchange, to provide liquidity and enhance the trading experience for users. With its innovative approach to liquidity provision and trading, DODO DeFi has gained popularity in the cryptocurrency community.
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