Prior to DODO’s initial DODO offering (IDO), we mentioned two funding rounds we completed. Today, the team is pleased to share more details about our investors with the DODO community. We will also be providing an updated roadmap for the near future of DODO.
Private Sale Funding Round
The $5M private sale funding round was jointly led by Pantera Capital, Three Arrows Capital, and Binance Labs, and followed by Coinbase Ventures and Galaxy Digital. Seed round investors Framework Ventures and DeFiance Capital also followed on after their seed investments. Other institutional investors include trading firms CMS Holdings and Alameda Research, and VCs Distributed Global, Primitive Ventures, D1 Ventures, IOSG Ventures, and LongHash Ventures.
The majority of our investors are venture capitals, cryptocurrency exchanges, and trading firms. We are honored to be backed by the leading institutional investors, and we are also delighted to receive continuous support from our seed investors.
DODO Roadmap Updates
DODO is currently one of the most competitive liquidity providers, offering almost the lowest transaction costs and slippage.
Of course, the DODO journey has just begun. The true potential of the proactive market maker (PMM) algorithm is yet to be fully unlocked. We are actively recruiting talents for our team and continuing to iterate on the product.
The most important yardstick for DODO’s success is organic trading volume, which is instrumental and fundamental to effective market making strategies. In order to facilitate more organic growth in volume, top priorities for the DODO team for the next six months are price oracle optimizations, on-chain institutional market making strategies, trading experience and efficiency, and self-serve and permissionless products for IDO projects. More specifically, the team’s target milestones for the upcoming two quarters are as follows.
Q4 2020:
- [Liquidity Providers] User Experience Improvement: Price oracle precision and optimization development
- [Traders] User Experience Improvement: Smart routing to enable traders to swap between any pairs
- [Liquidity Providers] New Model: Customizable on-chain strategies for institutional market makers
Q1 2021:
- [Traders] User Experience Improvement: New portal and user interface
- [Liquidity Providers] New Model: Self-serve new asset onboarding (permissionless IDO)
- [Liquidity Providers] New Model: Permissionless market making strategy on-chain
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