DODO Unveils DIP-21 Proposal, Aiming To Migrate 20M DODO Tokens To Base Mainnet
In Brief
DODO released a proposal, which suggests migrating and distributing 20 million DODO tokens to the Base Mainnet for future trading rewards.
Decentralized exchange (DEX) DODO announced that its community has put forward the DIP-21 proposal, which suggests migrating and distributing 20 million DODO tokens to the Base Mainnet for future trading rewards aimed at attracting a broader user base and increasing protocol revenue. The voting process for the proposal will start today and conclude on August 7th.
Base represents an Ethereum Layer 2 blockchain designed to provide a secure, cost-effective, and developer-friendly environment for on-chain development. It is a Layer 2 solution developed in partnership with Optimism using its OP Stack.
The exchange was deployed across fifteen blockchains to date. However, the deployment itself is not enough to attract new traders and increase trading volumes. In order to more effectively utilize the value within the network ecosystems, DODO suggests migrating tokens and initiating reward campaigns.
Integrating DODO into the Base will offer users access to DODO’s Proactive Market Maker (PMM), which provides highly capital-efficient liquidity pools and SmartTrade, among other features. Meanwhile, rewards are anticipated to attract liquidity providers (LPs) and enhance trading volumes for protocols in their growth phase. Additionally, offering incentives in the form of DODO tokens on Base is anticipated to raise the amount of DODO holders, supporting the growth of the project’s community.
DODO’s DODOchain Launches Initial Phase Of Its MACH AVS Mainnet
This project is a decentralized cryptocurrency exchange that employs a PMM algorithm. It offers solutions for liquidity creation, covering stablecoins, popular cryptocurrencies, and new tokens. The platform focuses on user-friendliness, enabling token creation, fundraising, and liquidity mining without the need for coding skills.
Recently, it announced that its omni-trading Layer 3 blockchain, DODOchain, has launched the first phase of its MACH Actively Validated Service (AVS) mainnet. DODOchain MACH, an AVS on EigenLayer developed by AltLayer, offers fast finality and is designed to enhance trading efficiency with fast transaction processing.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
