Moonbeam and Polkadot Users Will Now Be Able to Access DODO’s Liquidity Protocol Built for Capital Efficiency.
Boston, MA – May 27, 2021 – Moonbeam, the Ethereum-compatible smart contract platform on Polkadot, announced an integration with DODO, an on-chain decentralized exchange and liquidity provider. DODO has successfully deployed its Ethereum-based code to Polkadot via Moonbase Alpha, Moonbeam’s TestNet. The integration will enable DODO to include assets from Polkadot and its parachains in their exchange without making major changes to their existing code. This will allow the growing Moonbeam and Polkadot communities to benefit from DODO’s Proactive Market Maker (PMM) algorithm and to build for capital efficiency.
DODO’s Proactive Market Maker (PMM) is an oracle-aided algorithm with an advanced pricing formula that provides contract-fillable liquidity. DODO implements a multi-chain approach, including Ethereum, Binance Smart Chain, and Huobi ECO Chain. The DODO team sees Moonbeam as a great ally in expanding to Polkadot without reinventing the wheel. Moonbeam’s full Ethereum compatibility allows projects and devs to access the Polkadot ecosystem with minimal to no changes. Projects can use the same language, tools, and accounts to port their code from Ethereum to Polkadot.
“Our goal is always to create capital efficiency and ever wider access to finance. That’s why we are delighted to deploy to Moonbeam and provide a boost to Polkadot’s growing ecosystem,” said Diane Dai, DODO co-founder.
DODO’s integration into the Moonbeam ecosystem allows Polkadot and Moonbeam users to interact with the unique benefits provided by DODO’s innovative Proactive Market Maker (PMM). The DODO PMM is an innovative DEX feature that helps traders have lower slippage compared to AMM-based DEXs. Moonbeam users will continue to have many innovative DEXs to work with, which will be available when Moonbeam launches.
“Moonbeam is rapidly becoming a center of DeFi activity on Polkadot. The addition of DODO and their PMM approach to the Moonbeam ecosystem gives Polkadot users a differentiated and proven DEX to be able to efficiently trade Polkadot-based assets,” said Nate Hamilton, Director of Business Development at Moonbeam. “We are pleased to partner with the DODO team to help them expand the users, assets, and use cases they can address with a Moonbeam-based multi-chain deployment strategy.”
Learn how to get started on Moonbeam and use DODO’s Protocol features on the Moonbeam TestNet, Moonbase Alpha, by visiting the official project documentation site or by joining us on our Discord server.
About the Moonbeam Network
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot. Currently in active development by PureStake, Moonbeam is expected to reach MainNet by Q3 2021. Learn more: https://moonbeam.network/.
PureStake’s team has extensive experience building technology companies and complex software platforms. Led by Derek Yoo, former Fuze Founder, and CTO, PureStake provides protocol implementation services and developer tools for next-generation blockchain networks. Learn more: https://www.purestake.com/.
DODO is a next-generation decentralized exchange and liquidity aggregator powered by the Proactive Market Maker algorithm (PMM). Featuring highly capital-efficient liquidity pools, minimal slippage, and reduced impermanent loss, DODO is designed to deliver all the advantages of a distributed platform, plus a user-friendly interface and liquidity that is comparable to centralized systems. Learn more: https://dodoex.io/