DODO

DODO is a DeFi protocol[decentralized finance (DeFi)](https://coinmarketcap.com/alexandria/article/what-is-decentralized-finance) protocol and on-chain liquidity provider whose unique proactive market maker (PMM) algorithm aims to offer better liquidity and price stability than [automated market makers (AMM).](https://coinmarketcap.com/alexandria/glossary/automated-market-maker-amm) The PMM pricing mechanism, which mimics human trading, utilizes [oracles](https://coinmarketcap.com/alexandria/article/oracles-in-defi-101-a-deep-dive-by-tellor) to gather highly accurate market prices for assets. It then provides enough liquidity close to these prices in order to stabilize the portfolios of [liquidity providers](https://coinmarketcap.com/alexandria/glossary/liquidity-provider) (LP), lower price slippage and negate [impermanent loss](https://coinmarketcap.com/alexandria/glossary/impermanent-loss) by allowing arbitrage trading as reward. DODO also caters for new crypto projects with a free [ICO listing](https://coinmarketcap.com/alexandria/glossary/initial-coin-offering-ico) through its Initial DODO Offering (IDO) which requires issuers to only deposit their own tokens. DODO’s smart contract operates as an [ERC20](https://coinmarketcap.com/alexandria/glossary/erc-20) token on the [Ethereum](https://www.coinlive.com/coin/ethereum) network.