Introduction to DODO
DODO is a Decentralized Exchange (DEX) running on Ethereum and Binance Smart Chain. Developed by the DODO team, Proactive Market Maker (PMM) is an oracle-aided algorithm with an advanced pricing formula that provides contract-fillable liquidity. Traders get lower slippage with PMM than Automated Market Maker (AMM).
PMM leverages price oracles to retrieve accurate market prices of assets as input. It then aims to provide sufficient liquidity near the market price for every asset.
The result is that liquidity decreases rapidly when far away from the market price. The following graphs compare the price curves of DODO (PMM) and Uniswap (AMM).
Terms of the Liquidity Mining Program:
- Setup DODO MCB/USDC pool on Arbitrum DODO DEX
- Rewards of 180 $MCB and 4500 $DODO to be distributed daily
- Campaign to last 2 weeks and then to be assessed on merits
- Co-marketing promotion by both protocols to promote this incentive program
Liquidity attracts traders, trading generates fees, and ultimately pool profitability attracts more liquidity. This is a flywheel effect that we are beginning to see happen within DeFi.
As DODO has launched on Arbitrum as well, we are proposing to collaborate with DODO to increase the liquidity of $MCB on Arbitrum.
We propose a collaboration with DODO on a co-liquidity mining program starting 15 September 2021.
More on DODO
For - agree to Liquidity Mining Program with DODO
Against - disagree to Liquidity Mining Program with DODO
- Vote here
- This proposal is approved