![]() DODO’s PMM algorithm was developed entirely in-house by the DODO team iterating on the design of Automated Market Makers (AMMs) to improve capital efficiency, reduce impermanent loss, and minimize slippage for traders. At press time, news of the exploit was yet to fully impact the token’s price, with DODO trading at $4.00, down by a little over 2% in the last 24 hours. DODO is a decentralized exchange (DEX) platform powered by a unique Proactive Market Making (PMM) algorithm. “I can understand some investors and crowd pooling projects feel frustrated about DODO, but you should know the road is never smooth.”Īccording to Zhou, the team has already made significant progress in recovering the lost funds.ĭODO protocol’s native token DODO rose by over 96% in a single day on 18 February after announcing that it would soon be launched on Binance Smart Chain (BSC). Jerry Zhou, Managing Partner at Puzzle Ventures, for instance, took to Twitter to express his support for DODO’s development team. Many in the community have come out in support of the protocol after news of the exploit broke. The protocol also attracted investments from investors such as Coinbase Ventures, Galaxy Digital, and Alameda Research. The protocol raised $600,000 in a seed round led by Framework Ventures, after which it raised an additional $5 million in a private sale funding round led by Three Arrows Capital, Binance Labs, and Pantera Capital. Soon after news of the development broke out, many users on Twitter were quick to speculate that the lost funds have already been laundered through privacy pools since that has been the case with most DeFi exploits that have taken place over the course of the year.ĭODO was launched back in August 2020 by Diane Dai, Radar Bear, and an anonymous development team. “As a precautionary measure, we have temporarily disabled the pool creation portal on DODO.” The DEX also revealed that it is working closely with its security partners to recover the lost funds, before going on to add that, We update our DODO to USD price in real-time. ![]() The impacted pools included WSZO, WCRES, ETHA, and FUSI pools, while AC pool funds have been fully recovered, the liquidity provider said. The live DODO price today is 0.097897 USD with a 24-hour trading volume of 6,554,069 USD. Not sure if this is still vulnerable, be careful out there /boIvL1MghiĪccording to an update from DODO, several V2 Crowdpools were attacked, whereas all V1 and non-Crowdpool V2 pools were safe. Seems like $WCRES / $USDT pool on got drained by creating some fake tokens from their ERC20 factory Make sure you are visiting, Please double check the URL. ![]() Decentralized exchange and liquidity provider DODO is in the news today after it was reportedly exploited a few hours ago, an exploit that resulted in the loss of $2.1 million. How The FTX Bankruptcy Unwound Crypto's Very Bad Good Guy Brady Dale. DODO is an On-Chain Liquidity Provider for everyone.DODO Aims to be the Best Decentralize Exchange (DEX) Ranking based on trading volumes, market share of DeFi markets. ![]()
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