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DODO Token Offering Announced, Does Crypto Need Another DeFi DAO?

2 mins
Updated by Kyle Baird
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In Brief

  • The DODO exchange will launch a governance token.
  • Only 60% of the tokens will go to the community.
  • An initial price of $0.10 has been set.
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The DODO exchange has announced its governance token, the latest in a string of new decentralized finance (DeFi) offerings.
DODO is yet another on-chain automated market maker (AMM) that was announced in mid-August. It claims to be more advanced than regular AMMs such as Uniswap or Curve as it can respond to changing markets and liquidity constraints in real-time. The impetus behind the project has been derived from the theory that DeFi protocols cannot share their liquidity, and ‘order book’ DEXs are at the mercy of centralized exchanges. Co-founder Diane Dai asserts, as soon as these platforms lose access to the APIs provided by CEXs, their liquidity structures collapse.

Another DeFi Token Offering

The exchange, which claims to have gained $77 million in liquidity since its launch, has announced the imminent initial DODO offering (IDO) on Sept 29. The announcement comes at a time when the DeFi ecosystem is already overcrowded with new governance tokens and currently resembles the ICO boom of 2017/18. As previously reported by BeInCrypto, DeFi governance hasn’t really proved to be a success due to the influence whales have over the voting process. The DODO ecosystem will consist of three decentralized autonomous organizations (DAO). The Admin DAO will have the most control, oversee the entire platform, and have authority over the other two DAOs. A Risk Control DAO will be responsible for adjusting and fine-tuning various risk parameters, while the Earn DAO will govern how earnings on the platform are distributed. The total supply of DODO tokens will be one billion with the distribution as follows; 60% will go to ‘community incentives’ in a series of programs which it collectively calls ‘DODO Carnival’. The first of which, dubbed ‘Grey Parrot’, is ongoing and involves liquidity provision and airdrops. 15% of the tokens will go to the core team, future hires, and advisors to be locked up for one year and released linearly over the next two years. 16% will go to investors, 8% to operations, and marketing, and the final one percent will be used for initial liquidity provision.

Initial Price of $0.10 Set

The ERC-20 DODO token will go live on the exchange in a USDT pair at an initial offering price of $0.10. The team added that once initial liquidity has been provided, DODO will not deposit or withdraw any further collateral,
As the IDO is a decentralized process and DODO’s price discovery is entirely dependent on trading activities.
It all appears to be a mashup of an ICO, IEO, and airdrop to create its own termed ‘IDO.’ The results this week will determine whether it will be a resounding success among the fickle breed of farmers, or as dead as a Dodo.


In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

Martin Young
Martin has been covering the latest developments on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain...