Leading ProjectsThe DODO Adventure #2: Chainlink, Security PSA, AAVE-USDC, and Lossless Mining | by DODO Breeder | DODOEx | Nov, 2020 Share this November 2, 2020 to November 16, 2020 — Working on oracle optimization with Chainlink, security PSA, v1.5 updates, zapper.fi integration, AAVE-USDC listing, and more social media coverage from Yield Field, LongHash Ventures, and more! Hello CommanDODOs (yes that’s what we call DODO fans now), welcome to our second DODO Adventure newsletter! We have tons of cool updates and recaps for you, so buckle up. We are pleased to announce that DODO and Chainlink teams are working together to further optimize DODO’s oracle solution in order to reduce slippage and improve capital efficiency. You can read the full Medium announcement here. Decentralized price oracles like Chainlink are the cornerstone of the DODO platform, as DODO’s advanced asset pricing and capital allocation smart contracts depend on them to unlock PMM’s true potential. Chainlink’s decentralized properties also shielded DODO from recently oracle attacks targeting various DeFi platforms. There were several DeFi hacks and attacks this past two weeks, and Infura also experienced downtime and had orphan issues. DODO was not affected in any way, as DODO is hosted in a decentralized manner on IPFS and has mechanisms in place to dispel these attacks. But this is a golden opportunity for us to talk about security with our community, as it is one of our central tenets. Security is of utmost importance in DeFi and we take it extremely seriously. We made a security PSA on Twitter and advertised our bug bounty program, which encourages smart contract security researchers to discover bugs and vulnerabilities with financial incentives and public recognition. We also reminded our community that DODO has gone through successful, comprehensive security audits from PeckShield Inc. and Trail of Bits, and also Nexus Mutual offers DODO smart contract insurance coverage. If you are a cybersecurity professional or an experienced smart contract engineer, please feel free to email us at contact@dodoex.io to disclose vulnerabilities. DODO v1.5: Aggregator of Aggregators We mentioned last time that DODO v1.5 will be available next month, and our devs are making good progress on it! DODO v1.5 has the potential to become the aggregator of DEX aggregators. Meta-aggregator, is that a word? Last time, we shared that the team integrated APIs from The 0x Project and 1inch; we are working on more integrations to grab quotes from the best liquidity source so that traders get the best bang for their buck! Make DeFi mainstream again. Development Progress We are excited to share the development progress on smart route and trading experience improvements, which will be the highlights of our upcoming v1.5 release. For smart route, we finished the following work items: Testing swaps between ETH and Wrapped ETH (WETH) Testing the wrapped external swap logic on mainnet Testing additional smart route edge cases For trading experience improvements, we achieved the following over the past two weeks: Trade history functionality USDT approval contract handler Design of market depth and slippage detection logic Besides v1.5, the DODO team is working a series of features in parallel, most notably: Switching our default provider to web3 Code refactoring, review, and gas optimization for the DODO Vending Machine (DVM) smart contracts USDT-USDC Lossless Mining + Lower Transaction Fee! On November 18th, we lowered the transaction fee rate for the USDT-USDC pair to 0.03%. This made DODO the DEX with the best liquidity, lowest transaction fee rate, and lowest slippage for this pair on the market. Woohoo! And as we mentioned last time, liquidity providers for this stablecoin pair have been able to mine DODO tokens without any losses. More specifically, from October 23rd to November 13th, our daily LP data shows that USDT LPs made a combined profit of 0.15% and USDC LPs made a combined profit of 0.08%. Volume over TVL as a Metric for Capital Efficiency DODO’s capital efficiency as measured by volume over TVL ratio is the best on the market right now. On November 7th, DODO recorded a whopping 0.577 in Volume/TVL, which is almost 10x better than some of our DEX competitors. TVL represents liquidity, and when this ratio is high, it means that capital is being allocated exactly where it is needed on the price curve, and traders enjoy low slippage. Spencer Noon thinks it’s a good metric and is encouraging other projects to start tracking it. New Listing: AAVE-USDC On November 11th, we added a new trading pair to DODO: AAVE-USDC! The transaction fee rate is 0.35%. New mining opportunities are available! Read our Twitter announcement here. Bringing Professional Market Makers On-Chain Our team is working behind the scenes with professional market makers to onboard them onto tailor-made PMM liquidity pool solutions on DODO. This means that these market makers will have their own liquidity pools, whose parameters can be freely adjusted by makers based on their risk profiles and market making strategies. PMM-based market making is appealing because it offers flexibility and customizability not available on their DEXs. More announcements on this initiative are coming soon, so stay tuned! Other News As of November 16th, DODO staking APY is still at an eye-wateringly high 150%. Let your DODO tokens work for you! On November 13th, DODO was listed on Coinone, one the largest exchanges in South Korea. Zapper.fi incorporated DODO on their new exchange portal, because DODO has one of the “best rates in DeFi” DODO now has wallet integration with WalletConnect and Portis! Our team participated in DoraHacks, a hackathon/job fair with a focus on blockchain talents. We had a blast! DODO was featured on YieldField. They examined PMM and our oracle design. The LAO invested in DODO in the private sale round. We are excited to have their support! Ryan Zurrer, Founder of dialectic.ch and vine.vc, thinks DODO is awesome! DODO was on dapp.com’s top 30 DEX ecosystem ranking by 30-day volume. Diane talked to Harvey from the A11 Crypto Founders series. Sarson Funds talked about DODO in this week’s analyst altnotes. LongHash Ventures wrote a piece on next-generation AMMs and discussed why DODO is worth a look! Diane joined Stani Kulechov (AAVE), Andrey Belyakov (Opium Protocol), Mona El Isa (Melon Protocol), and Clayton (UMA) at the ETH Berlin panel on November 19th. Thank you for your continued support. Stay tuned for more updates and more DODO Adventures! #JustDODOIt Source link Download WordPress ThemesDownload Best WordPress Themes Free DownloadDownload Premium WordPress Themes FreeDownload WordPress Themesudemy course download freedownload karbonn firmwareFree Download WordPress Themesudemy free download