DODO: Multi-Chain Capabilities
By deploying on multiple blockchains, DODO’s PMM can reach more of the rapidly growing DeFi ecosystem.
Expanding DODO’s multi-chain capabilities also incentivizes institutional market makers to use our PMM algorithm for on-chain market making.
DODO’s multi-chain strategy takes a comprehensive, 3-tiered approach to DeFi integration that targets layer-one (L1), layer-two (L2), and sidechain networks.
The team will continue to work towards additional integrations with top-tier blockchains. Check the blog to stay updated on DODO’s multi-chain deployment progress.
Multi-chain deployment has been a top priority for the DODO team since the project’s inception. As the DeFi world becomes more and more connected over time, users increasingly want access to the best assets across multiple blockchains. As the ecosystem moves towards interoperability, cross-chain compatibility is more important than ever.
#Multi-Chain Deployment on DODO
The DODO team understands this industry-wide need - and is working to deliver access to our full suite of products to users on as many chains as possible. DODO offers high capital efficiency, which allows it to quickly bring liquidity onto new blockchains without relying on large amounts of external liquidity migration. DODO’s low-slippage trading and minimized impermanent loss are features that further facilitate quick and easy integration with multiple blockchains.
A particular objective of DODO’s cross-chain integrations is to make our unique Proactive Market Maker (PMM) model available across the full spectrum of DeFi networks and scaling solutions. Our multi-chain integration strategy is also intended to expand DODO’s role as a dynamic gateway to liquidity across the DeFi landscape.
#Bringing Institutional Market Makers Into DODO’s Community
DODO’s integration with a diverse variety of chains may be particularly valuable to retail traders, who make up the largest slice of users in the space. This multi-chain integration also enables DODO to further develop relationships with institutional investors, who are likely to play an increasingly important role as DeFi grows and attracts mainstream attention and interest.
Indeed, As DODO’s footprint continues to expand, institutional market makers are increasingly incentivized to use our PMM algorithm for on-chain market making. The more blockchains DODO integrates with, the easier it becomes for market makers on any chain to become liquidity providers.
#DODO’s Multi-Chain Strategy: A Three-Tiered Approach to DeFi Integration
DODO’s multi-chain strategy takes a comprehensive approach to DeFi integration including layer-1 (L1) blockchains, layer-2 (L2) solutions, and sidechains. Each of these plays an important role in DODO’s mission to connect the DeFi universe.
When DODO integrates with a layer-1 blockchain, the assets that exist on that chain become a part of our exchange without significant changes to DODO’s existing code. We have completed integrations with some of the largest layer-1 blockchains in the DeFi sphere, which have substantial user communities and a large variety of decentralized applications (dApps). The following timeline shows DODO’s L1 integrations so far:
- February 2021: Ethereum mainnet and Binance Smart Chain (BSC).
- April 2021: Huobi ECO (HECO).
- May 2021: Polkadot (by way of Moonbeam’s Moonbase Alpha testnet).
- June 2021: Solana.
The DODO team is currently working on additional integrations with top-tier L1 chains.
#How do L2s and Sidechains Fit Into DODO’s Multi-Chain Strategy?
Layer-2 integrations enable users to enjoy the benefits of scalability, flexibility, and versatility on top of DODO’s layer-one capabilities, and this fact has encouraged us to integrate with numerous well-known L2 solutions. In May, DODO was chosen as a member of the initial cohort of dApps on Arbitrum, whose optimistic rollups securely make Ethereum-based transactions fast and affordable. DODO has also integrated with Chainlink, an L2 network that provides accurate price reference data for mainstream crypto assets.
Sidechain integrations are also important in facilitating true multi-chain functionality, as they can support the flow of assets from one blockchain to another. Our team has therefore been actively building partnerships with several sidechain platforms. Our most recent such integration was in May, when DODO integrated with Polygon, a proof-of-stake sidechain that aims to be Ethereum’s “internet of blockchains” by providing a framework for building and connecting Ethereum-compatible networks.
#Connecting the Entire DeFi Ecosystem
DODO’s three-pronged approach to multi-chain integration is a crucial element in our goal of uniting and providing liquidity and other services for the still-fragmented DeFi economy - and this is just the beginning. The DODO team will continue to integrate with top-tier blockchains and we grow and evolve.
Visit the DODO blog to stay abreast of DODO’s latest blockchain integrations and partnerships.