DODO DEX and its myriad of liquidity pools have continued to snag the attention of investors.
Also, we have seen an increasing interest in stablecoin pools on the PMM decentralized exchange platform, DODO DEX. Due to the current bearish trend in the crypto space, investors are showing a lot of interest in stablecoin pools as compared to other liquidity pools. This article covers important aspects of DODO DEX, its products, types of liquidity pools, and some of the top pools on the DEX platform.
Before we move on to the top five pools, let’s find out more about DODO DEX.
What Is DODO DEX?
DODO DEX is a decentralized exchange platform with a Proactive Market Maker (PMM) algorithm. The exchange also boasts of top capital-efficient liquidity pools designed to mitigate impermanent loss as well as reduce slippage to the nearest minimum.
DODO also boasts of a number of important products. Some of them include:
- SmartTrade – A liquidity aggregation feature that helps compare different liquidity sources. Providing the best rates between two liquidity pairs or tokens.
- Crowdpooling – This is an equal opportunity set to eliminate all forms of barriers to liquidity pool creation. DODO Crowdpooling provides custom-made technical solutions focused on professional on-chain market makers. It also provides a fair way to kick-start liquidity markets and also distribute tokens.
Other important DODO DEX products include its pools, liquidity mining, trading mining, DODO Vending Machine, NFT Vault, and Private Pools. The PMM platform also supports many wallets like MetaMask, Coinbase, WalletConnect, etc.
The Proactive Market Maker (PMM) algorithm is one of the most important features of DODO. The algorithm imitates human trading while making use of oracles to compile market data. The DODO PMM algorithm was custom-made by the DEX platform using available AMM algorithm designs.
There are currently three (3) major pools on the DODO DEX exchange. These pools include:
- Public Pools
- Private Pools, and
- Lastly, Pegged Pools.
- Public Pools – Also popularly known as DODO Vending Machine (DVM). Public Pools are open to anyone. Therefore, they provide any wallet holder with access to create a liquidity market on DODO.
- Private Pools – These pools are also known as DPP. They are designed for professional market makers. They also include unique features that are not available in Public Pools. DPP creators are also the supported liquidity provider (LP) on their pools. However, unlike Public Pools, the pricing cure on Private Pools can be changed by pool creators at any time.
- Lastly, DODO Pegged Pools – These are specially made and custom suited for synthetic assets. Quite similar to Public Pools, anyone can provide liquidity on Pegged Pools. Also, important pool features like initial price, the number of tokens, trading fee rate, etc. remain constant. This means that they cannot be altered once the pool has been created.
Top Five Pools on DODO by TVL
According to DeFi Llama, DODO DEX currently has a Total Value Locked (TVL) of $358.59 million. Also, according to reports, investors are making a dash for stablecoin pools. This is mostly a result of current bearish trends in the crypto space.
Our list of top DODO DEX pools includes:
- BUSD/USDT with a TVL of $29,206,784.74. This is a stablecoin pool and currently has the highest TVL on DODO.
- Next is USDC/BUSD – This pool also has a TVL of $7,660,334.40 and an APY of 0.72% and 0.71%
- oneDODO/USDC – This pool has a TVL of $7,402,493.71 with an APY of 0.57%.
- The next pool is DODO/WBNB – This pool features a TVL of $2,957,718.11.
- Last on our list is the USX/BUSD pool with a TVL of $606,070.37 and an APY of 0.26%.
In conclusion, due to current bearish tendencies in the crypto space, we expect to see a TVL increase in stablecoin pools.
At the time of writing, DODO was trading at $0.425109, with a market cap of $120,724,501 and a 24-hour trading volume of $37,062,169. The token price is also up by 5.6% in the last 24 hours.
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