Graphic tutorial: Teach you how to mine DODO and get the first mining bonus

On August 30, the transaction volume of the decentralized trading platform Uniswap exceeded Coinbase for the first time. As of now, the total transaction volume of Uniswap has exceeded 10 billion US dollars.

The success of Uniswap has led to a large amount of funds pouring into the decentralized exchange (DEX) track , and imitators have also emerged one after another, such as SushiSwap, where the scale of locked crypto assets exceeded US$1 billion in just a few days.

The DODO that I will introduce to you today is also a decentralized trading platform (DEX).

01
What is DODO?

Simply put, DODO is a decentralized exchange platform (DEX) similar to Uniswap.

Compared with Uniswap, DODO's innovation lies in its use of the Proactive Market Maker (PMM) algorithm and the introduction of the Chainlink oracle , which allows users to avoid providing two assets at the same time when making markets on DODO.

For example, if you want to be a market maker for the ETH-LEND trading pair, on Uniswap, you must provide equal value of ETH and LEND at the same time, but on DODO, you only need to provide one of them.

Compared with the automatic market maker (AMM), the active market maker algorithm (PMM) has a more flexible price curve, which allows liquidity providers (LP) to minimize market making risks (impermanent loss) and stabilize their investment portfolios.

DODO’s investment institutions

DODO has completed its seed round of financing, led by the US cryptocurrency venture capital firm Framework Ventures and followed by Defiance Capital. Other investors include SevenX Ventures, BTC12 Capital, Origin Capital, Maple Leaf Capital and several well-known angel investors, including Compound founder Robert Leshner and Coingecko founder Bobby Ong.

DODO Token

The total amount of DODO tokens is 1 billion, of which:

Pre-mining: 1% Official mining: 60% Team: 15% Early investment: 16% Market: 8%

How to get DODO tokens

Currently, DODO tokens can only be obtained through pre-mining. The total amount of pre-mining is 10 million (1%), which will be released within half a year after being locked for 14 days.

DODO will start formal liquidity mining only after the pre-mining is completed.

02
How to participate in DODO's liquidity mining?

Currently, DODO tokens can only be obtained through pre-mining (liquidity mining). The following is a mining tutorial ( currently only supports the Little Fox Wallet MetaMask ):

1. Use Chrome browser to open the DODO official website (https://dodoex.io) and click "Launch App".

2. Click "Pool", then click "Connect to a wallet" to authorize in the Little Fox Wallet MetaMask.

3. Select a pool: Currently, DODO has only opened ETH-USDC, LINK-USDC, LEND-USDC, SNX-USDC, and COMP-USDC. When providing liquidity mining, the less funds in the pool, the higher the return , because the weight of each pool is the same when rewarding DODO tokens.

The figure below takes the LEND-USDC pool as an example. Enter the number of tokens to be deposited and click "Confirm".

4. In the Little Fox Wallet MetaMask, click "Confirm".

5. After completion, you can check the number of tokens you provided for liquidity mining in "My Pool", and your wallet will also receive DLP tokens. This token is the certificate for your liquidity mining in DODO.

Precautions

1. Contract risk: Although the DODO platform has passed the security audit of PeckShield, it does not mean that there are no risks at the code level.

2. Impermanent loss: DODO only reduces the impermanent loss risk of liquidity providers through the active market maker algorithm (PMM), but does not completely eliminate the risk.

3. Mining fees: The Ethereum network is currently quite congested. If you participate, the cost of mining fees cannot be ignored.

learn more

DODO official website: https://dodoex.io/

DODO related documents:
https://dodoex.github.io/docs/docs/

Risk warning : The content of this article is only the author’s personal opinion, does not represent the views or position of Zhikuang University, and does not constitute any investment opinion or recommendation.