On June 24, 2021 we had StealthEX & DODO AMA Session in our Telegram Community Chat
The AMA was attended by:
- Maria, CMO of StealthEX
- Ethan Zhang, DODO Director of Global Marketing
What are the reasons that push you to develop the DODO project?
Decentralized exchanges offer many advantages over centralized alternatives, such as anonymity, user control, and protection against hacks theft and manipulation. But DEX often suffers from low liquidity.
DODO aims to bring highly capital-efficient liquidity pools with reduced impermanent loss, minimized slippage to more users in the DeFi space.
What’s your motivation in making DODO Token, and what will we see in future? How can token holders benefit with DODO tokens?
DODO token is the governance token on DODO DEX. Holding DODO tokens gives token holders right to vote in DODO's community governance process
DODO token holders can also choose to mint vDODO tokens with their DODO token. vDODO is DODO's loyalty membership program. Holders of vDODO tokens enjoy benefits that are exclusive to vDODO holders, such as IDO allocations, periodic dividends paid out, and more.
What is the role of DODO CrowdPooling? How can I join? And what are the benefits that users get?
Crowdpooling is an equal opportunity way to distribute tokens and kick-off liquidity markets. Inspired by the call auction mechanism commonplace in securities markets, Crowdpooling ensures that there is no front-running or bot interference.
The process is straightforward: at its start, each token issuer sets an initial offering price, a time limit on the campaign and a soft cap on the number of tokens in the issue. Part of this amount is earmarked for crowdfunding and part for providing ask-side liquidity in the pool.
When the campaign ends, participants claim tokens based on how much they have staked at the pre-set offering price. If funds raised in the campaign exceed the soft cap, participants are awarded extra tokens proportionate to their shares of the pool at the initial price.
How is the DODO PMM algorithm different from the AMA algorithms of Uniswap, Sushiswap or the leading DeFi platforms in use today? What advantages does PMM have in creating a mechanism that is more conducive to users?
The PMM algorithm is a new on-chain market-making model that is designed to optimize the capital efficiency of DODO’s liquidity pools, and to minimize impermanent loss and slippage for traders and liquidity providers (LPs) on the platform.
DODO offers a wide array of PMM-powered products that suit the needs of all different types of users, check out the following links for more information: https://dodoex.github.io/docs/docs/, https://medium.com/dodoex/how-dodos-market-making-algorithm-can-increase-capital-utilization-by-500x-112e578f1b19.
The name DODO and its drawings seem designed for a video game. So, do you have in mind the possibility of creating a video game-based gamification platform with NFT or something similar?
The DODO team is getting ready to launch DODO's own NFT platform, DODO NFT soon.
DODO NFT is a generalized price discovery and liquidity protocol for non-standard assets. The primary focuses of the platform will be NFT fractionization and NFT issuance.
However, as we move forward with the platform, a video game-based feature wouldn't be outside of the realm of possibility in the future.
How is DODO development going? Can you describe in detail current development efforts, market expansion plans, expected applications, and when will they become commercially available?
The DODO team is actively working to perfect existing features and user experience while experimenting with new features and products.
The DODO NFT platform and multi-chain deployment will be the primary focuses of 2021 for the DODO team.
DODO's Roadmap for the second half of 2021 consists of:
- Q2: Officially launching the DODO NFT platform.
- Q3: Migrating to more Layer 2 solutions as part of the multi-chain deployment strategy.
- Q4: Exploring the financial applications of NFTs.
DODO has recently deployed on Solana, Polygon, Arbitrum, and moonbeam, going forward, the DODO team will continue to evaluate and monitor new blockchains in pursuit of DODO’s path of multi-chain deployment and interoperability.
As of now, the DODO team is still looking for the right timing to launch the DODO NFT platform. Stay tuned for the latest updates!
NFT is getting more popular nowadays. It looks like NFT has a bright future. So I see your project roadmap, you must say Q3 in NFT marketplace takeover that's a good idea. Do you guys have some plan to include NFT to your #DODO project?
Going forward, the DODO NFT platform will be an important part of DODO. As of now we have already launched a few high profile NFT campaigns on the platform. In the future we will looking to work with more NFT artists and projects to push out more valuable and exciting NFT campaigns on DODO.
https://medium.com/dodoex/your-worst-nightmares-tokenised-introducing-fear-nft-games-pandora-s-blindbox-sale-on-dodo-nft-d4db7e105d86
https://medium.com/dodoex/superheroes-meet-the-bird-announcing-the-kaka-nft-marvel-character-cards-sale-on-dodo-nft-ae7f686b86b4
vDODO and DODO, and what is the vDODO token primarily used for?
DODO token is the native governance token of DODO DEX. DODO token holders enjoy the benefits of
- Governance rights.
- Crowd Pooling and IDO allocations.
- Trading fee discounts.
DODO token holders can also choose to mint vDODO tokens with their DODO tokens. vDODO is a token that serves as a user’s proof of membership in DODO’s loyalty program. The vDODO membership offers its members exclusive benefits such as dividends paid out from trading fees (coming soon) and periodic DODO token rewards https://dodoexhelp.zendesk.com/hc/en-us/articles/900005437983-What-is-vDODO-
Dodo is based on ETH blockchain and we all are aware about the gas fees of Etherium. Do you think it will limit the number of users doing transactions with DODO and how will you solve this issue?
Multi-chain deployment is one of the DODO team's primary focuses of 2021. DODO’s recent deployments on Polygon, Arbitrum, Moonbeam, and Solana will without a doubt open doors to future collaboration opportunities and allow more users from all growing blockchain communities to interact with the unique benefits provided by DODO’s PMM algorithm. Check out our Medium for more updates on multi-chain deployment and more! https://medium.com/dodoex/dodo-is-an-inaugural-member-of-arbitrums-initial-defi-cohort-953a56ec554b
How do you control transaction fees and scalability in Dodo, considering it works on cross-chains, including Ethereum?
Great question guys!
How DODO works across different blockchains is that DODO on one chain is independent of DODO on other chains. That means DODO Ethereum is independent of DODO BSC and independent of DODO Polygon. So integrating and deploying onto new chains is scalable.
In terms of tx fees, it will be discussed and determined through our community governance process, aka DODO Improvement Proposals (DIP).
I'd like to see DODO as a Nintendo Retro-style video game. Do you have something in mind for that?
As mentioned previously, DODO NFT's primary focus at this stage will be NFT fractionization and NFT issuance. The platform welcomes a wide variety of non-standard assets and is looking to fill up its NFT Vaults with a little something for everyone.
A Nintendo Retro-styled video game is absolutely possible in the future if we can find the right partner to work with.
Can you share some of the partnerships you have formed with existing blockchain foundations recently?
We had many exciting partnerships announced in the past 2 weeks on our Twitter, here are some highlights:
- Graph Protocol https://twitter.com/BreederDodo/status/1408124693207412741?s=20
- Solana https://twitter.com/solana_daily/status/1405326930992242695?s=20
- Polygon Mainnet https://twitter.com/BreederDodo/status/1401180148691464203?s=20
What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily?
The DODO team is working on producing contents that are more catered towards crypto beginners or ppl who have little to no experience with Defi. We are currently making weekly uploads on YouTube, and posting educational articles on our official website
DODO Dojo is a series of educational articles that help people to understand DeFi and DODO
Feel free to check them out!
https://www.youtube.com/channel/UCTKBdYNFNAUkQADJVpan-_Q
https://dodoex.github.io/docs/docs/ThisIsDODO/
Stay tuned to all the DODO-related news on the socials!
Official Website: https://dodoex.io/
FAQs: https://dodoex.github.io/docs/docs/
GitHub: https://github.com/DODOEX
Telegram: https://t.me/dodoex_official
Twitter: https://twitter.com/BreederDodo
Discord: https://discord.gg/tyKReUK
Forum: https://community.dodoex.io
A quick reminder that you can always swap $DODO right on StealthEX.io
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