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Highlights
- DODO is a decentralised finance protocol and on-chain liquidity provider whose unique proactive market maker (PMM) algorithm aims to offer better liquidity and price stability.
- Operating on the Ethereum protocol, the DODO network is able to provide free ICO listings to new crypto projects.
- According to CoinMarketCap, the DODO is trading at US $1.20 with a 24-hour trading volume of US $47,387,523.
DODO is a decentralised 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).
Due to the PMM pricing mechanism, it is able to mimic the human trading and it utilises the oracles to ensure accurate results. It also provides the required liquidity in the market with the help of various liquidity providers and lower price slippage and offers arbitrage trading as reward.
Operating on the Ethereum protocol, the DODO network is able to provide free ICO listings to new crypto projects with the help of its very own Initial DODO Offering (IDO) which requires the issuers to deposit their own tokens.
What makes Dodo unique
As DODO is considered to be one of the most reliant liquidity providers and automatically adjusts market prices in order to attract arbitrage facilities. Besides low transaction fees and price slippages through the PMM algorithm.
The trading platform offers SmartTrade, a decentralized liquidity aggregation service and removes roadblocks that tend to challenge the liquidity pool creation for the issuance of new assets. DODO with its crowdpooling provides a level-playing field for the holders to distribute tokens. Besides it will also eliminate the chances of any bot interference that may hamper the liquidity process.
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From the traders and arbitrageurs’ point of view, DODO offers sufficient liquidity compared to the CEX, which can be utilised for the on-chain transactions. Arbitrageurs can benefit from the price differences between DODO and other exchanges.
Is DODO Network a good investment?
DODO is ranked 310 on CoinMarketCap. According to CoinMarketCap, the DODO is trading at US $1.20 with a 24-hour trading volume of US $47,387,523. At the time of writing (BST 9:30 am), DODO was up by 1.76% in the last 24 hours and bump in the trading volume as well by 1.99%. DODO currently has a live market cap of US $132,287,710 with a circulating 110,551,965 DODO coins.
Also read: What is Beta Finance?
DODO even through has had a poor run, in terms of the prices, but liquidity wise it has managed to stay stable and has given investors decent profits. As per Wallet Investor, DODO projects itself as a bullish token with significant growth by the end of this year. Many believe that DODO is well placed to reach the US $2.5 by the end of this year and in five-year’s time its price will touch US $8 or even go higher.
Conclusion
DODO projects itself as a strong coin and a good investment option for long-term. Thursday’s rally has given the market hope that it in 5 years’ investment, the revenue is expected to grow by +584.67%. With liquidity ensured, the price rally could be near soon, and investors would do well to invest in such a promising token.
