What is Dodo (DODO)? How to Buy DODO Token in India?

The DeFi and NFT space is thriving every new day and many protocols are now aiming to simplify the process within a secured environment. Dodo is a decentralized exchange that mainly focuses on the smooth accessibility of DeFi liquidity. The platform uses its proactive market marker(PMM), like the many other platforms that use Automated market makers. 

The PMM mechanism mimics human trading, using oracles to gather high acute prices. The products of the network also include smart trade which facilitates the trades between the tokens over the same network with the best price. Alongside the platform also offers high-capital efficient liquidity pools that offer single-token provision which reduces impermanent loss. 

Who Are the Founders of Dodo?

The Dodo platform was founded in August 2020 by Daine Dai and Radar Bear along with their anonymous development team. Initially, the platform received a $600,000 fund in the seed round which was led by Framework Ventures. Further, the platform attracted $5 million in private sale funding in September 2020 led by Pantera Capital, Binance Labs, and Three Arrows Capital.

How Does Dodo Work?

The price of a token is largely based on the demand and supply which is based on the market sentiments of the token. The Dodo team developed a nonlinear proactive market-making algorithm that is highly flexible and mimics human trading. It is also optimized for on-chain transactions. The liquidity providers are required to deposit just one token against the deposit of a pair over the AMM algorithm. This use of PMM creates the DODO classic pool

Further, the PMM reduces the barrier entry for smaller projects as the newly minted projects do not require huge capital. This application of PMM creates the DODO vending machine. The algorithm is also highly customizable with free market trading to create the DODO private pool. 

What Makes Dodo Unique-Use Cases?

• The platform is a competitive liquidity provider offering very low transaction fees and price slippage using its PMM algorithm
• The DODO platform automatically adjusts market prices to attract arbitrage to keep the portfolio of the liquidity providers stable.
• The platform offers sufficient liquidity to the traders compared to that of any other Centralized exchanges
• The LPs are not required to make any minimum deposit and the token type is also not restricted
• It offers free listing as an initial DODO offering to attract new crypto projects.

Dodo (DODO) Price Analysis

Source: Tradingview

• The DODO price is trading within a symmetrical triangle since March and is presently very far away from the apex
• The price failed to clear the upper resistance of the triangle and hence is facing a minor pullback
• Meanwhile, the ADX which determines the strength of the rally is still bullish, with signals of the revival of a bullish trend very soon
• However, until the price clears the crucial interim resistance at $0.1950, the bullish divergence may not be validated, and the price may continue to consolidated below these levels

How to Buy Linear Finance in India?

To buy Linear Finance in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone
• Enter the details required for registration
• Complete KYC
• After your profile is verified, fund your wallet and buy a DODO