<strong>руководство по пользованию биржей</strong>

Начало работы с DeFi Часть 2: Использование биржи DoDo с Ledger.

Важные изменения в комиссии на выбросы и погашения в DODO

7 ноября 2023 года

Начнем с DeFi, Часть 2: Торговля токенами с использованием DODO

5 ноября 2023 года

Начало работы с DeFi: Первые шаги

1 ноября 2023 года

ZK Rollups на DODO

28 октября 2023 года

Начало работы с порталом разработчиков DODO

11 октября 2023 года

DODO 3 года спустя

29 сентября 2023 года

Введение в портал для разработчиков DODO

27 сентября 2023 года

DODO x iZUMi: Зарабатывайте dPoints и iPoints на Linea

Мы рады объявить, что DODO X запускает систему dPoints на основной сети Linea, чтобы вознаградить активных трейдеров на DODO X.

24 сентября 2023 года

DODO X: Совершенство в межцепочной торговле

23 августа 2023 года

Исследовательские отчеты DODO

Используйте самые полные исследовательские отчеты и медийный контент относительно цифровых активов.

Пополнение и вывод средств в DODO

DODO не поддерживает покупки фиатных валют или пополнения с использованием кредитных/дебетовых карт или банковских переводов. Как и большинство децентрализованных бирж, поддерживаются только криптовалютные транзакции из криптовалютного кошелька.

Что такое DODO?

Взглянем на главную страницу DODO.

Алгоритм PMM пытается устраним непостоянные потери и улучшает ликвидность, улучшая, как считается, устаревшую модель AMM, используемую Uniswap. Будучи проактивной, DODO способен реагировать на ограничения ликвидности в реальном времени и адаптироваться к изменяющимся рыночным условиям, обстоятельство, которое DEX, использующие модель AMM, не могут преодолеть.

Торговля криптовалютами на бирже DODO крайне эффективна с точки зрения исполнения сделок, что предлагает глубокую ликвидность и низкий проскальзывание. Торговля криптовалютой на DODO похожа на торговлю на высокопроизводительных централизованных биржах, таких как FTX и Binance.

Основное об DODO

Посмотрите AMA основателя в блоге DODO.

Минда Лей является исполнительным директором DODO. Он создал модель PMM, используемую протоколом, и ранее был основным разработчиком на платформе маржинальной торговли DDEX.

Дайан Дай является нынешним главным маркетологом и отвечает за маркетинговые усилия и возглавляет множество инициатив сообщества, таких как общение с сообществом в WeChat и управление рядом каналов, включая DeFi Labs.

Ци Ван – нынешний директор по операциям в DODO. Ци — программист и основатель сети DOS Network, слоя 2 оракульного сервиса. Он также работал в Oracle до основания DODO.

За платформой DODO стоят серьезные инвесторы и партнеры, что логично. Увидев, какой взрывной эффект на отрасль оказали децентрализованные биржи, такие как Uniswap и SushiSwap, когда DODO появилась, утверждая, что она как раз такая, но лучше, биржа следующего поколения, внимание привлекли Pantera, Binance, Coinbase, Alameda и другие.

Этот список является своего рода хто есть кто в мире криптовалют, за этим проектом стоит много интереса и денег. Ладно, теперь, когда у вас есть немного информации о DODO, давайте погрузимся в платформу.

Преимущества использования биржи DODO

DODO: Инновации и безопасность

DODO проделал фантастическую работу, преодолевая многие проблемы, существующие в традиционной модели AMM DEX, такие как уменьшение проскальзывания и риска непостоянных потерь. Это само по себе является огромным преимуществом использования DODO DEX.

Преимущества DODO

В дополнение к этому, фракционированный рынок NFT также замечательная особенность для тех, кто хочет создавать, управлять и продавать NFT. Вот как DODO приносит пользу участникам рынка:

• Уменьшение проскальзывания и риска непостоянных потерь
• Фракционированный рынок NFT
• Расширение функциональности до нескольких других цепей, включая уровни Ethereum и конкурентные протоколы уровня 1

Что можно улучшить

Я не смог найти недостатков в работе самой платформы. DODO доставляет именно то, что обещает.

Безопасность DODO

Кибербезопасность и ответственное поведение при использовании децентрализованных приложений или криптовалюты — это основа. Продолжая метафору с автомобилем, вы можете владеть машиной с самой сложной системой безопасности в мире, но если вы оставите ее на ночь в опасном районе и оставите ключи на капоте, кто-то воспользуется этим.

Основные характеристики биржи DODO

DODO имеет некоторые уникальные и инновационные функции, но прежде чем мы к ним перейдем, важно понимать, как работает DODO и в чем его отличие.

Алгоритм PMM

Для понимания криптобиржи DODO и того, почему она гораздо более обширна, чем просто один из десятков клонов Uniswap, важно понимать алгоритм PMM и различие с традиционным алгоритмом AMM.

DODO минимизирует как риск непостоянных потерь, так и проскальзывание, и избавляется от необходимости арбитражников, чтобы сделать модель PMM рабочей.

Многие считают AMM превосходящими централизованную модель обмена, так как он избавляется от необходимости контроля и власти над обменом, уравнивая положение дел для всех участников рынка. Одним из ключевых отличий между AMM DEX и централизованной биржей является способ ценообразования указанных токенов на бирже.

It is also good to know that there are different varieties of AMMs. In the case of Uniswap, the variety used is a Constant Product Market Maker (CPMM). This model gets its name from the constant product of its price algorithm. Rather than using supply and demand to determine the price of assets, which most orderbook-based exchanges do, Uniswap uses the equation: x*y=k

In this equation, both “X” and “Y” represent the supply in a given token pool on the platform. As traders buy and sell “X” and “Y”, the price of each changes to keep “K” as a constant.

This design has become popular as it has helped to inspire a wide range of innovations and new ideas in decentralized markets. The model created by Uniswap has made it possible for anyone to provide liquidity for any ERC-20 token.

Now, this AMM model and CPMM variant used by Uniswap is great for decentralized exchanges and trading, but has its faults. Here are the key drawbacks to the AMM model:

Let’s explore some of these drawbacks.

AMM Slippage

Slippage refers to the difference between the price agreed to during the purchase of an asset and the actual price the transaction gets executed at. Many of us, myself included, have experienced this first-hand and it sucks. I remember thinking that I am getting “X” amount of an asset at “Y” price, but once the transaction was settled, I received way fewer of my favourite token than I expected, yet spent the same amount of money.

Here is a great visual from Forex trading educational site Babypips that explains Slippage:

Image via babypips.com

It’s kind of like if you want to buy a bag of chips for $1, thinking $1 is a pretty good deal. Then you get the bag home, sit down to watch your favourite film while enjoying your chips, open the bag and it turns out it was all air and there are only like 10 chips in the bag. Bummer!

Here is a look at slippage risk at Uniswap vs DODO, as you can see, the Uniswap curve is significantly greater.

Slippage Risk is far Greater at Uniswap vs DODO. Image via DODO Whitepaper.

Lack of liquidity will also contribute to slippage. With assets that have low liquidity, a large trade can cause the asset price to soar or plummet instantaneously.

Uniswap has managed to minimize slippage on smaller trades, which is the majority of trading that takes place as it is predominantly retail traders who use the DEX. However, large trades from whales can still cause significant slippage in some cases.

AMM Impermanent Loss

Another, more complicated issue faced by AMMs like Uniswap is impermanent loss.

One way to avoid this is to have prices on the exchange provided by a third-party oracle like Chainlink. Uniswap does not use price oracles, but instead relies on the internal algorithm mentioned above to dictate pricing.

Because of this, prices on Uniswap can differ drastically from the prices advertised for the same asset on other platforms and data sources. Here is a great diagram from Splintertalk.io showing an example of impermanent loss:

Impermanent Loss Explained. Image via Splintertalk

Then that brings us to the issue of arbitrage which adds fuel to the flames of the impermanent loss issue. If a price of a token rises or falls by 10% on a centralized exchange, that price change may not be immediately reflected on an AMM DEX. This creates a period of time in which arbitrageurs can take advantage of the price difference to make a profit.

Here is a simple diagram explaining arbitrage trading:

For a more in-depth explanation of impermanent loss, you can head over to our article on Growth DeFi, another DeFi platform trying to eliminate impermanent loss where we explain the concept in greater detail.

How DODO Tackles the AMM Problem

DODO’s Proactive Market Maker solution uses off-chain price oracles to provide real-time, accurate pricing information about each asset offered on the platform. It uses the data provided by the oracle to calculate the ideal market price. Once the market price is determined, DODO can sell liquidity tokens for the quote token based on the curve shown below:

A more efficient liquidity curve. Image via DODO whitepaper

This model decreases the liquidity away from the market price rapidly, which removes the arbitrage opportunities and provides a more efficient exchange system.

The PMM model used by the DODO crypto exchange encourages only the type of arbitrage trading that helps to ensure the exchange price matches the market price. This aim is not unique, but the PMM is unique in that it shifts the price curve, which helps it achieve an efficient liquidity structure.

As DODO has been around since mid-2020, we now have decent history showing a track record supporting evidence that this model is superior to the traditional AMM model. The PMM model has proven that it not only provides enough liquidity for an unlimited number of trading pairs but also benefits liquidity providers at the same time.

In short, the PMM system effectively mitigates impermanent loss risks, enticing liquidity providers to the platform. The model also takes advantage of the flaws known to exist in traditional orderbook-based and AMM exchanges, flaws such as being dependent on human input to function, being too expensive to operate, or being unable to provide the necessary liquidity to operate.

In the interest of transparency, the PMM model has its drawbacks as well, though they are fewer and less severe than the flaws in the AMM model. The PMM model is obviously a poor choice for arbitrage traders, and DODO is heavily reliant on Chainlink oracles for pricing, exposing the DODO platform to a single point of failure risk should any issues arise with the oracle.

Alright, that covers the market maker protocol on DODO, let’s take a look at the features and functions.

Providing Liquidity on DODO

Proactive Market Maker equation. Image via DODO whitepaper.

In the equation above, the symbol “i” represents the market price of an asset and “R” represents the risk factor. Understanding “R” is key to understanding how DODO incentivizes high liquidity at accurate prices.

DODO uses the price feeds from Chainlink oracles to establish the value of “I”. The Chainlink partnership provides DODO with real-time market data that gives the platform a baseline to work from, allowing the algorithm to avoid large discrepancies in its price versus the actual market price of the assets. The “R” factor will also change as capital for each particular asset accumulates in the liquidity pool, recognizing the fact that greater liquidity also provides lower risk.

DODO and Chainlink Team up. Image via DODO Partnership Announcement

This results in the liquidity for the asset being shifted to the price of the asset based on the Chainlink data. That means the real-time price creates a baseline for the exchange prices, with the obvious downside being the need to place a lot of trust in the accuracy of the data coming from Chainlink nodes.

If a Chainlink node fails or becomes compromised, that could cause havoc on the accuracy of the data, resulting in a nightmare scenario for DODO crypto trading and losses for the liquidity providers on the platform.

Unlike AMMs, DODO’s liquidity providers are not required to provide both sides of a trading pair when adding liquidity which is a game changer, a very refreshing upgrade!

I’ve never been a fan of this. I love holding Ethereum but have little interest in holding stablecoins if I don’t have to. DODO is perfect as I can provide my ETH into a liquidity pool and earn a nice APY, without needing to hold a stablecoin. 🎉

The DODO Exchange

Here we will look at the main functionality of DODO, which is the exchange feature.

Image via docs.dodex

A Look at the DODO Exchange Interface

Talk about flexible and scalable versatility! If you believe that the future is going to be multi-chain, DODO has a leg up on most of the competition here. Here’s a look at the simplicity of using the swap feature:

Gif via dodoexhelp

Alternatively, DODO can also be accessed from a mobile phone via MetaMask Mobile, Coin98 Wallet, imToken, Math Wallet, TokenPocket, BitKeep, Trust Wallet, and others.

A Look at the DODO Mobile Interface on Coin98 Wallet. Image via Coin98

Traders can skip the gas fees as well and trade on DODO gas free!

That’s right, Gasless Swap routes your orders directly to a professional market maker for deeper liquidity with zero slippage and zero gas fees.

This feature is only currently supported on the Ethereum mainnet and BNB Chain.

Traders can select their settings by clicking the gear button at the top right of the screen:

Slippage tolerance — This is the difference between the market price and the quoted price. Keep this figure low if you want to keep your slippage to a minimum, if the slippage is greater than the tolerance setting, the trade will fail to execute. If slippage tolerance is set too low, there is a risk that the trade may never execute.

Transaction Deadline — If the interval between the time a transaction is submitted and the time it is confirmed on-chain exceeds the transaction deadline setting, the transaction will not be executed.

Expert Mode — When swapping tokens, traders may receive alert notifications when the slippage for tokens they would like to trade is high. When a token’s slippage exceeds 20%, traders will not be able to submit transactions for that token unless Expert mode is enabled.

Disable Indirect Routing — This option ensures that the routing algorithm will only route to liquidity pools between the two tokens in the trading pair, ignoring any routes with intermediary tokens. This has an advantage as it can resist front running and save on gas fees. The disadvantage is that no trade can happen between intermediary tokens, so swaps can only happen for tokens in the same liquidity pool if this option is enabled.

DODO also has a unique and useful feature called SmartTrade. This feature finds the best order routing from aggregating liquidity sources, similar to aggregators like 1inch, to provide traders with the best prices and the most efficient execution routes.

The DODO Vending Machine

The DODO Vending machine makes token distribution and market making much simpler. Image via Medium.com

This feature is quite unique and fully permissionless, meaning that anyone with a wallet can build trading venues without having to worry about censorship and interference from the platform, making token distribution and market making fair and more accessible for everyone.

DODO Private Pool

This feature is similar to the DODO Vending Machine but has more options for professional market makers who have specific requirements that cannot be met with the simplified Vending Machine.

A Look at Creating a Private Pool on DODO. Image via YouTube/DODO Dex

This provides several benefits for market makers, taking advantage of the configurability and flexibility of DODO’s PMM model allows for:

Crowdpooling

A Look at the Crowdpooling Interface. Image via DODO

New projects can raise funds with a free listing thanks to DODO’s Initial DODO Offering feature, initiating liquid markets with additional security provided by the liquidity protection period.

Create a Token with DODO

Here are the usage fees for creating tokens on DODO:

Token creation is incredibly quick and easy with no coding required, and teams can even select options such as burning tokens and supply increases.

A Look at the Token Creation Process.

Once created, tokens can be managed and options such as creating a pool, launching crowdpooling campaigns, or creating liquidity mining can be conducted.

Staking DODO

4. You will see the info relevant to DODO staking, such as APY, unstaked and staked amount, and reward allocations.

5. Now you can choose stake or unstake, and a popup will show up asking if you would like to proceed. Click “confirm”, then you will need to approve the transaction in your crypto wallet. Two transactions will need to be approved in the wallet, one for the approval of the smart contract interaction, then the second for the actual act of staking.

Image via blog.dodoex.io

DODO rewards can be claimed by clicking on the “claim” button. Hitting this button will pop open your MetaMask wallet to approve and confirm the transaction.

Pro Tip: This goes for any crypto platform, be sure to understand that the act of claiming rewards will most often incur network fees. Be sure the rewards have accumulated enough to justify the network fees. If your reward is worth $1.50 of DODO but the network fee is $5 worth of ETH, it doesn’t take a math whiz to see you’re losing money claiming rewards too frequently.

DODO can be unstaked at any time by clicking the ‘Unstake” button.

Mining DODO

DODO tokens can be mined by providing liquidity for any trading pair available on DODO and depositing the corresponding DODO Liquidity Provider (DLP) tokens. We will use the ETH-USDC trading pair as an example and go through the steps from the DODO blog and look at how to mine DODO tokens below:

Image via dodoex.io

12.Click “Confirm” in the popup that comes up, then approve and confirm the transaction in your wallet.

You will need to hit confirm and approve again in your wallet

Rewards can be claimed at any time and DLP can be unstaked by simply hitting the “Unstake” button, then confirming and approving the transaction in the wallet.

DODO NFT Vault

Image via dodonft.io

Through DODO’s SmartTrade and liquidity aggregation service, the pieces can be traded seamlessly with ease, for any tokens at the best price. Here is a quick breakdown/summary of how the 3-step process looks:

Providing liquidity via DoDo Exchange

In order to provide liquidity via DoDo exchange with Ledger, you’ll need to connect your Ledger device to DoDo exchange.

● Head to app.dodoex.io and click on Earn tab.

● Click on Add Liquidity.

● Make sure your Ledger wallet is still connected to DoDo exchange(also, make sure you have some Ethereum to cover gas fees!)

● Click on Add Liquidity, which will bring you to the screen below. Then, simply select the input tokens to create your pool by clicking the + beside the pool pair. (You can manually choose the token from the above boxes)

● Enter the amount of token you want to Liquidate and click on Add.

● Review and approve the transaction on your Ledger device, if everything looks good.

● Now you’ve successfully added liquidity via DoDo exchange.

DODO Fees

DODO charges a flat fee of 0.3% for all buy and sell transactions. These fees go back to the community and LP providers, distributed like so:

Image via DODO Docs

DODO FAQs

Though the popularity of DODO, like many DeFi projects, has waned significantly during the bear market, it was one of the dominant platforms in 2021 and remains a very good crypto project for those looking to take advantage of the features outlined in this article.

I admit that I am guilty of sticking to what I know and am familiar with. Uniswap has always been my DEX of choice, simply because it was the first one I ever used. After becoming familiar with DODO, I can see this becoming my primary DEX once it makes it back into the top 5 DEXes for TVL, as it is superior in many aspects.

Is DODO a good investment?

DEX tokens have provided investors with some of the most handsome ROIs in all of crypto. Early investors in platform tokens like Uniswap and DODO have experienced impressive gains, with early DODO investors enjoying an insane 12,476% if they got in at pre-sale and sold at the all-time high.

Currently, DODO is down over 95%. Investors who feel that the DODO DEX is likely to see the adoption and use of the platform that it experienced in 2021 are highly bullish on the project and consider the DODO token at a massive discount. IF the token is able to reach its previous all-time highs, getting in at these low prices could provide a very lucrative opportunity.

Is DODO a good exchange?

Yes, DODO is a fantastic exchange for those looking to swap tokens on the ETH, BSC, Polygon, Arbitrum, HECO, OKchain, Aurora, MoonRiver, Boba, Optimism, Avalanche, or Cronos networks.

DODO is a high-performance DEX, one of the best for multi-network support and a go-to for projects looking to launch tokens. Its state-of-the-art PMM algorithm is an improvement upon the AMM algorithm used by most DEX platforms, providing a safer and more reliable ecosystem for traders, token issuers, and liquidity providers.

Is DODO decentralized?

Yes, DODO is a fully decentralized exchange (DEX) that supports the swapping of tokens on multiple networks, staking, and liquidity provision, as well as features an NFT fractionalization platform and token issuer service.

What is a Decentralized Exchange and Why Should I Use One?

Before we dive into the details of trading on DODO, let’s take a moment to understand what a decentralized exchange (DEX) is and why you should choose a DEX over a centralized exchange like Coinbase:

DODO Summary

Headquarters:N/A- Decentralized platform

Spot Cryptocurrencies Listed:Thousands of tradeable pairs across multiple chains

Maker/Taker fees:0.3% flat fee on trades.

Security:Secured by the Ethereum network + multiple security audits have been conducted.

Beginner-Friendly:Those familiar with DeFi will find DODO straightforward to use and navigate.

Fiat Currency Support:None

DODO Exchange Platform Design and Usability

DODO is well-designed, simple, and offers a clean interface that is incredibly easy to navigate and find your way around.

A Look at the DODO Interface

As far as using DODO on mobile, I accessed the interface through both the Coin98 wallet and Trust Wallet and found it worked just as well as the web interface, I could not find much fault with it at all.

A Look at DODO on Mobile. Image via Coin98

One of the things that stood out when using the DODO swap feature was the efficiency of the trades. Each trade was completed within the expected time, and I didn’t encounter a single issue with failed transactions or having to retry transactions, which is an issue that is encountered on many DeFi platforms.

DODO usage manual

To use the functions of the DODO exchange, you need to connect a crypto wallet. We go to the main page of the exchange and click on the button «Go to App».

The main DODO Exchange page will be opened. Click on the button «Connect wallet».

After connecting the wallet, the mini-interface of the DODO Exchange opens. Here you can fund your account by transferring ERC20 tokens to it. If there is no cryptocurrency yet, you will be offered to buy it through the Transak service.

After connecting the wallet, access to all DODO financial instruments of the exchange will open. Let’s talk about them in more detail.

The cryptocurrency can be sorted out: select main tokens, NFT tokens or tokens from the Layer 2 network.

DODO liquidity pool

Click on the "Liquidity" tab, a list of available pools will open. At the top, you can filter the list by token name. If you haven’t found a suitable offer, create your own liquidity market. To do this, click the "Create pools" button.

The list displays detailed information about the pool: volume, protocol type (paired or unpaired) and annual percentage return (APY). Markets where DODO mining is available are marked separately. To become a liquidity provider, click on the plus sign to the right of APY. The pool adding interface will open.

Enter the required amount and freeze the funds in the pool. You can also withdraw assets through the interface.

DODO Crowdpooling

Note: if the list disappears, please reload the page.

DODO mining feature

On the staking cards, you can see the income for each token, the total amount of funds invested and choose the cryptocurrency for investment. The reward is accrued in the form of DODO tokens.

Mining vDODO is getting a reward for holding management tokens. Go to the "Mining" tab. Before us is a personal account with information about the profitability and the number of vDODOs held. To buy vDODO, click on the "Mint vDODO" button.

Please download the last update of Ledger Live Application

● Update your Ledger device to the latest firmware.

● Update Ledger Live to the latest version.

● Make sure the Ethereum app is installed on your Ledger device.

● Also add an Ethereum account.

DODO KYC and Account Verification

Because DODO is a decentralized exchange, there is no KYC or account verification necessary. If you are just coming across the concept of Decentralized Finance for the first time, check out Guy’s video on DeFi 101:

How to Trade Tokens on DODO

3. Select Your Tokens: DODO supports a wide range of tokens, from popular cryptocurrencies to lesser-known assets. Select the tokens you wish to sell in the top box (labeled A), and the tokens you wish to buy in the bottom box (labeled B). For example, you can exchange USDT for USDC as in the screenshot, or explore more exotic pairs. DODO offers considerable flexibility in selecting your trading pairs.

4. Set Your Trade Parameters: Determine the amount of tokens you want to trade, and type them into the top box (labeled A). The amount of the second currency that you will receive in exchange will automatically appear in the bottom box (labeled B). Don’t worry about the other trade parameters for now. These settings allow you to further customize your trade according to your preferences.

5. Execute the Trade: When you’re satisfied with your trade settings, click the “Confirm Order” button. After you approve the trade in your wallet, it will be executed, and you’ll see the details of the transaction, including gas fees and expected completion time.

6. Confirmation and Monitoring: After confirming the trade, you can monitor it in your wallet or through the DODO interface. Keep an eye on the progress and make use of real-time data to stay informed about market conditions.

DODO Review Conclusion

The DODO protocol has revolutionized and advanced the DeFi space with the invention of the Proactive Market Maker algorithm, an evolution of the traditional Automated Market Maker algorithm that came before it.

This new technology offers a better trader and investor experience when using the DEX, removing fears of impermanent loss, slippage, and providing a safer environment for traders and liquidity providers. Thanks to the oracle integration, market prices on DODO are also more stable and liquidity is maintained more efficiently.

DODO is an outstanding DEX, and after using it myself, it was clear that they have built and improved upon the groundwork laid by popular DEXs like Uniswap and SushiSwap. The Private Pool, Vending Machine, and NFT Vaults are also fantastic features, enhancing the utility and usefulness of the DODO platform. The interface is very slick and easy to use, making staking and liquidity contribution a breeze.

So, whether you’re diversifying your portfolio, seeking arbitrage opportunities, or simply exploring the vibrant DeFi landscape, DODO provides the tools you need. As you embark on your journey of token trading with DODO, always remember to conduct thorough research, manage your risk wisely, and stay informed about the latest DeFi trends. Happy trading!

If you still have questions or need more information, feel free to check out our documentation or chat with the DODO Team on our Discord or Telegram.