To bring about a significant transformation in the disjointed market of Layer 2 solutions, DODO, the trailblazing decentralized exchange (DEX), introduces DODOchain – an all-encompassing trading platform at Layer 3, fortified by Arbitrum Orbit, EigenLayer, and AltLayer technologies.
DODOchain strives to simplify the process of exchanging cryptocurrencies across various blockchains. Picture this: effortlessly trading Bitcoin for Ethereum on a single platform, without any complications. This is the vision that drives DODOchain.
DODOchain, the latest addition to the block, effortlessly connects Layer2 offerings of Bitcoin and Ethereum. As a result, it serves as a unifying force for liquidity among various chains. This groundbreaking development paves the way for users to trade tokens and increase their returns through staking, all in the DODOchain network – an advanced version of a rollup that brings liquidity to the next level.
In August 2020, DODO introduced its groundbreaking Proactive Market Maker (PMM) algorithm. This feature allowed DODO to provide a focused liquidity option based on the oracle price, resulting in enhanced exchange rates for users and improved capital efficiency for mainstream assets. In February 2021, DODO presented an upgraded version called DODO V2 with three separate pools catering to mainstream assets, stablecoins, and altcoins, as well as different user types including traders and professional market makers.
In due course, DODO expanded its functionalities to incorporate Launchpad, Token Creator, Trading Widgets, Crosschain Swap Aggregator, Limit Orders, and Swap Aggregator DODOX. At present, a total of 14 blockchain mainnets support DODO. The platform has recorded over 24 million transactions, amassed over 3.31 million users, and facilitated trading volumes in excess of $141 billion, making it an impressive achievement.
For the past three years, DODO’s team has been committed to creating products that offer users the best liquidity and competitive trading prices. They anticipate that the future of blockchain technology will expand beyond a solitary chain and transform into an interconnected network of multiple chains. Hundreds of Layer 2 solutions are expected to emerge, catering to diverse market requirements and applications within this ecosystem.
Despite making progress, Layer2 solutions face several challenges at this stage. These include issues like fragmented liquidity, high costs for multichain operations, security concerns related to cross-chain bridges, and the complexity of interacting with different blockchains. Furthermore, with the increasing number of non-EVM assets, there is a growing demand for cross-chain transactions.
DODO’s team believes that the existing multi-chain Decentralized Application (DApp) landscape calls for a major overhaul. With numerous assets being launched on hundreds of different chains, it is essential to eliminate the divide between Ethereum Virtual Machine (EVM) and non-EVM ecosystems to facilitate unhindered asset transfer. Our team proposes an inventive answer: DODOchain. By merging and enhancing liquidity on the DODOchain, we can accomplish interconnectedness among all chains, leading to effortless asset swapping and enhanced asset issuance productivity and trading ease across various platforms.
DODOchain as the Solution
To move forward with blockchain technology, it’s essential to tackle unique applications tailored to specific industries or needs. This is the rationale behind introducing a third layer on the chain.
At Layer3, we specialize in creating tailored features and strive to surmount the barriers of Layer2 when it comes to seamless cross-chain communication. Serving as a link between distinct blockchain communities, Layer3 simplifies the exchange of data and transactions, fostering connections among networks such as Ethereum, Bitcoin, and Solana.
To create a universal liquidity structure with higher transaction volume and lower network costs, Layer3 can improve transaction processing efficiency and accomplish genuine fee reductions.
With Arbitrum Orbit, developers can effortlessly create their own layer 2 or layer 3 chains without any hassle or need for permission. They have the flexibility to personalize features such as gas tokens, privacy settings, access controls, and governance structures.
The DODO team’s goals and aspirations align perfectly with our plan to create our own app-chain. We will utilize Arbitrum Orbit to develop a comprehensive Layer 3 chain for seamless cross-chain transactions. This solution brings faster transaction processing, reduced gas fees, and increased stable returns for users, ultimately improving the overall trading experience.
DODOchain will also offer:
- Omni-chain liquidity outposts: DODOchain provides users with a full suite of products and services, including Omni Trade, Omni Liquidity, and Omni Mining.
BTC L2 and ETH L2 Connector: DODOchain can link BTC L2 and ETH L2, including Non-EVM Chains, thus attracting more new users and assets.
Native restaking yield: DODOchain will offer native staking yields for assets.
Modular Partnerships for DODOchain
DODO announced its strategic collaborations to establish a harmonious, quick, and safe platform for exchanging and pooling liquidity among multiple blockchains. These alliances capitalize on the unique advantages of diverse blockchain solutions, resulting in an intuitive interface for minting, swapping, and administering digital assets across various networks.
Key Partners and their Roles:
- Arbitrum Orbit: Arbitrum Orbit offers a powerful new approach to building Layer2 and 3 chains. As a configurable extension to the Arbitrum tech stack, it empowers DODOchain with enhanced scalability, efficiency, and ease of use, while maintaining the security guarantees of the Ethereum ecosystem.
- Eigenlayer: With EigenDA, a core component of Eigenlayer, specializing in data availability (DA) throughput, and its seamless integration with other modules of EigenLayer, DODOchain will leverage EigenDA to utilize Ethereum’s consensus and security features. DODOchain will also work as a restaked rollup being one of the first Actively Validated Services (AVSs) in the Eigenlayer ecosystem.
- AltLayer: DODOchain has adopted AltLayer’s novel restaked rollups infrastructure based on EigenLayer’s powerful restaking mechanism.This not only strengthens network security and decentralization but also facilitates rapid deployment and cross-chain interoperability, creating a smoother and more interconnected blockchain experience for users.
DODOchain represents an groundbreaking innovation in the blockchain world, symbolizing a pivotal milestone on our journey towards effortless, secure, and streamlined cross-chain transactions.
The DODOchain Testnet is Live
You have the opportunity to pioneer the development of a cutting-edge all-in-one trading platform, where you can experiment and create new solutions.
Explore Testnet: dodochain.com
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2024-04-22 19:48