DODO farming on Binance Launchpool

What is DODO?

Binance announce DODO, a Decentralized Exchange Leveraging the Proactive Market Maker Algorithm, as the 17th project on the Binance Launchpool. DODO is an open, accessible, capital-efficient decentralized exchange platform and a next-generation on-chain liquidity provider, which leverages the Proactive Market Maker algorithm (PMM) to provide pure on-chain and contract-fillable liquidity for everyone.  

Binance Coin (BNB) BETH and Binance USD (BUSD) holders will be able to stake their assets into separate pools and farm DODO tokens.  The farming period will last 14 days, until 4th of March. DODO will be listed into the innovation zone at 10 AM (UTC) on the 19th of February with DODO/BTC, DODO/BUSD and DODO/USDT trading pairs.    

The DODO ecosystem is powered by a ground-breaking algorithm called Proactive Market Maker (PMM) which leverages price oracles to retrieve accurate market prices of assets as input. The following graphs compare the price curves of DODO (PMM) and Uniswap (AMM) showing the higher fund utilization and lower slippage.   

Binance Launchpool DODO farming

DODO algorithm is built on both Ethereum and Binance Smart Chain (BSC) and will focused on making DeFi liquidity more accessible by implementing  permissionless product suite, crowdpooling/Initial DEX Offerings (IDOs), pools, and mining. The dual built will enables trading between two arbitrary tokens on the same network.

The DODO token is the platform's native governance token. Is used for governance, crowdpooling and IDO allocation. Holders will be able to create and vote proposals and will receive incentives from IDO campaigns running on the platform. The DODO token can be staked for additional rewards or to receive fee rebates when trading. 

The DODO total token supply is 1,000,000,000 and the circulating supply upon listing on Binance will be approximately 14%. The Launchpool allocated token rewards is 1,069,518 DODO.

From the Launchpool allocation, 60% of the tokens (641,710 DODO) will be distributed in the BNB pool. THe BETH pool will distribute 30% (320,855) of the DODO and only 10% (106,951) in the BUSD pool. The reward can be claimed hourly and can be left to accumulate until the end of the farming period. The assets in each pool and any unclaimed rewards will be automatically transferred into the Spot Wallet at the end of each farming period.

Farming DODO at an accelerate rate

I was waiting for a new Launchpool project for weeks as I didn't really liked Litentry (LIT), mainly because of the low number of tokens allocated for farming.

Took the Binance Coin and the Binance USD out of the LIT farms before midnight and staked them in the pools.

I staked 46 BNB in the farming pool, aiming to harvest DODO at an accelerated rate. In this pool are allocated 60% of the Launchpool tokens, and today the token rewards pool is 192,513 DODO. From tomorrow, 20.02.2021, the daily reward will drop to 35,554 tokens.

I staked 227 BUSD in the stablecoin pool, where only 10% of the DODO reward is allocated.  However, power farming applies to the first day, when 32,086 DODO tokens are shared. From the 20th of February, the reward will drop to 4759 DODO tokens per day.

As the first hour passed, I was able to claim my first reward, 0.04 DODO, which means I will farm a whole toke by the end of the day (under the current circumstances)

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