In a transformative initiative aimed at revolutionizing the disjointed environment of Layer2 solutions, DODO, a trailblazing decentralized exchange (DEX), has introduced DODOchain. This Omni-Trading Layer3 solution is powered by cutting-edge technologies such as Arbitrum Orbit, EigenLayer, and AltLayer, and seeks to simplify the trading of cryptocurrencies across various blockchains. Picture a platform where users can effortlessly exchange Bitcoin for Ethereum—this is the vision that DODOchain intends to fulfill.
Bridging Layer2 Solutions for Unified Liquidity
The newly unveiled DODOchain effectively connects the Layer2 solutions of Bitcoin and Ethereum, serving as a liquidity unifier across multiple chains. This innovation heralds a future where users can not only trade tokens but also enhance their profits through restaking—all within the DODOchain ecosystem, which functions as a robust rollup-level liquidity layer.
DODO initially made waves with the introduction of its Proactive Market Maker (PMM) algorithm in August 2020, providing a concentrated liquidity model centered on oracle pricing. This advancement afforded users better exchange rates while significantly enhancing the capital efficiency of mainstream assets. In February 2021, DODO V2 was launched with three distinct liquidity pools designed for mainstream assets, stablecoins, and altcoins, catering to various user groups including traders and professional market makers.
As the platform evolved, DODO expanded its offerings to include features such as Launchpad, Token Creator, Trading Widgets, Crosschain Swap Aggregator, Limit Orders, and Swap Aggregator DODOX. Currently, DODO is utilized by mainnets across 14 blockchains, boasting over 24 million transactions, 3.31 million users, and a total trading volume exceeding $141 billion—a testament to its significant impact in the crypto space.
Commitment to Optimal Liquidity Solutions
For the past three years, the DODO team has focused on developing products that prioritize optimal liquidity solutions and competitive trading prices for users. They envision a future for blockchain technology that transcends individual chains, evolving into a cohesive ecosystem comprising numerous Layer2 solutions tailored to various market demands and applications.
However, several challenges remain for Layer2 solutions, including fragmented liquidity, high operational costs associated with multichain interactions, security vulnerabilities linked to cross-chain bridges, and the complexities of inter-chain communications. Additionally, the increasing number of non-EVM (Ethereum Virtual Machine) assets has amplified the demand for cross-chain transactions.
The Need for Transformation in the Multi-Chain Ecosystem
DODO’s team contends that the existing multi-chain DApp ecosystem is in need of significant change. With numerous assets being created across hundreds of chains, it is essential to dismantle the barriers between EVM and non-EVM ecosystems to facilitate the seamless flow of assets. To address this need, DODOchain has been proposed as an innovative solution to achieve interconnectivity across all chains. By optimizing liquidity on DODOchain, users can expect smoother asset exchanges, improved asset issuance efficiency, and enhanced trading convenience across various chains.
Introducing DODOchain
The future of blockchain technology requires addressing highly specialized use cases, which is the core principle behind establishing a third on-chain layer. Layer3 is designed to provide tailored functionalities while overcoming the limitations of Layer2 in terms of cross-chain interoperability. Acting as a bridge among different blockchain ecosystems, Layer3 enables the smooth exchange of data and transactions, linking chains such as Ethereum, Bitcoin, and Solana.
To create an omni-liquidity layer that demands greater transaction throughput while significantly lowering network fees, Layer3 can enhance transaction efficiency and deliver substantial cost savings. Among the various technical solutions available, Arbitrum Orbit empowers developers to easily and permissionlessly launch their own L2 or L3 Orbit chain on Arbitrum, allowing for customization of gas tokens, privacy, permissions, governance, and more. This capability aligns seamlessly with DODO’s vision for building its own app-chain.
Key Features of DODOchain
DODOchain will bring forth several features, including:
- Omni-chain liquidity outposts: A comprehensive suite of products and services encompassing Omni Trade, Omni Liquidity, and Omni Mining.
- BTC L2 and ETH L2 Connector: The ability to connect BTC L2 and ETH L2, including Non-EVM Chains, thereby attracting a broader user base and additional assets.
- Native restaking yield: Users will benefit from native staking yields for their assets.
Strategic Partnerships for DODOchain
DODO has revealed its key partnerships aimed at establishing a seamless, efficient, and secure ecosystem for cross-chain trading and liquidity sharing. These collaborations leverage the strengths of various blockchain technologies to enhance user experiences when issuing, trading, and managing digital assets across different networks.
Key Partners and their Contributions:
- Arbitrum Orbit: Providing a powerful framework for building Layer2 and 3 chains, enhancing scalability, efficiency, and user-friendliness while ensuring security within the Ethereum ecosystem.
- Eigenlayer: Utilizing EigenDA, a vital component of Eigenlayer that focuses on data availability throughput, DODOchain will benefit from Ethereum’s consensus and security features, functioning also as a restaked rollup and one of the first Actively Validated Services (AVSs) in the Eigenlayer ecosystem.
- AltLayer: By adopting AltLayer’s novel restaked rollups infrastructure based on EigenLayer’s robust restaking mechanism, DODOchain enhances network security and decentralization, facilitating rapid deployment and cross-chain interoperability for a smoother user experience.
DODOchain exemplifies the relentless innovation inherent in the blockchain sector, marking a significant milestone in the ongoing pursuit of seamless, secure, and efficient cross-chain trading.
DODOchain Testnet is Now Active
This is an opportunity for users to be among the first to test, build, and innovate within a next-generation omni-trading environment.
