DODO DEX REVIEW: EXCHANGE USAGE MANUAL

DODO DEX is a decentralized exchange using a multi-chain architecture. There are 4 networks available: Ethereum, Binance Smart Chain, Polygon and Huobi ECO Chain. They support smart contracts and ERC-20 tokens. We will analyze the main DODO DEX features and tell you how to use the exchange. You will find more decentralized exchanges in our DEX list.
Attention! This article is for informational purposes only and does not contain recommendations or calls to action.

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DODO exchange

The difference between DODO and other DEX exchanges is the use of a proactive market maker (PMM) system. It is implemented through a blockchain oracle, which allows to increase the speed of transactions and reduce fees. The system is also supported by the DODO Smart Trade aggregator, which compares sources of liquidity and finds the best asset price.

The economic model of the exchange is based on the DODO token of the same name. It is used as a trading asset and a reward for providing liquidity. Also, DODO tokens can be exchanged for vDODO at a fixed rate: 100 DODO = 1 vDODO. The vDODO token holder is entitled to a share of trading fees and Proof-of-Membership mining.

The DODO Exchange maintains over 150 liquidity pools. At the same time, pools with one currency are available to users, where there is no need to freeze two different tokens

DODO usage manual

The exchange offers the following financial instruments:

  • DODO Exchange;
  • liquidity pool;
  • crowd pooling;
  • stablecoin mining;
  • vDODO mining.

To use the functions of the DODO exchange, you need to connect a crypto wallet. We go to the main page of the exchange and click on the button «Go to App».
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The main DODO Exchange page will be opened. Click on the button «Connect wallet».
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We put a tick in the user agreement. Next, select the network and wallet.
Please note: Portis wallet is only available when using the Ethereum network.
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After connecting the wallet, the mini-interface of the DODO Exchange opens. Here you can fund your account by transferring ERC20 tokens to it. If there is no cryptocurrency yet, you will be offered to buy it through the Transak service.
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After connecting the wallet, access to all DODO financial instruments of the exchange will open. Let's talk about them in more detail.

Exchange

Follow the "Exchange" tab. The trading interface through the PMM protocol opens. On the right, select the currency pair for the trade.
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The cryptocurrency can be sorted out: select main tokens, NFT tokens or tokens from the Layer 2 network.
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In the simplified settings of the trading terminal, you can set slippage protection and transaction deadline. Expert mode is now available for advanced users.
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The number of available cryptocurrency pairs varies depending on the chosen blockchain network.

DODO liquidity pool

Click on the "Liquidity" tab, a list of available pools will open. At the top, you can filter the list by token name. If you haven't found a suitable offer, create your own liquidity market. To do this, click the "Create pools" button.
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The list displays detailed information about the pool: volume, protocol type (paired or unpaired) and annual percentage return (APY). Markets where DODO mining is available are marked separately. To become a liquidity provider, click on the plus sign to the right of APY. The pool adding interface will open.
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Enter the required amount and freeze the funds in the pool. You can also withdraw assets through the interface.

DODO Crowdpooling

Crowdpooling is a DODO exchange protocol that combines crowdpooling and liquidity pools. The service works on the principle of an auction: the user places tokens for a guaranteed period at a fixed price. Other users are investing in tokens and increasing demand for them. When the campaign expires, investors will receive a reward proportional to their contribution.

To participate in crowdpooling, follow to the section of the same name. A list of active campaigns opens.

Note: if the list disappears, please reload the page.
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DODO mining feature

Follow "Mining" section. There are two options available: classic liquidity mining and vDODO mining. Both are varieties of staking. We select the first option and go to the active staking pools page.
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On the staking cards, you can see the income for each token, the total amount of funds invested and choose the cryptocurrency for investment. The reward is accrued in the form of DODO tokens.

Mining vDODO is getting a reward for holding management tokens. Go to the "Mining" tab. Before us is a personal account with information about the profitability and the number of vDODOs held. To buy vDODO, click on the "Mint vDODO" button.
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A window will open where you can exchange ordinary DODOs for control tokens. In the "Redeem" section, the user can display frozen vDODOs.
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Conclusion

According to CoinMarketCap, DODO DEX is among the top 10 decentralized cryptocurrency exchanges. The proprietary PMM protocol attracts users with lower fees, and the crowdpooling service is unique to the DeFi market. The company has prospects: in 2021, they plan to launch their own incubator for NFT projects.

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