The DODO team is thrilled to announce the launch of DODOchain, a groundbreaking Omni-Trading Layer 3 powered by EigenLayer, AltLayer, and Arbitrum Orbit. As the first Layer3 solution, DODOchain seamlessly connects Bitcoin and Ethereum’s Layer2 and focuses on consolidating liquidity from multiple chains into one platform.
Trade tokens on DODOchain, the rollup-level liquidity layer, to maximize profits through restaking.
The Motivation Behind DODOchain’s Creation
DODO was introduced in August 2020 with its innovative Proactive Market Maker (PMM) algorithm, which revolutionized liquidity solutions around the oracle price. This led to improved exchange rates for customers and increased capital efficiency for mainstream assets. In February 2021, DODO V2 was launched, introducing three distinct liquidity pools catering to mainstream assets, stablecoins, and altcoins, as well as various user groups including traders and professional market makers.
Subsequently, DODO expanded its features to include Launchpad, Token Creator, Trading Widgets, Crosschain Swap Aggregator, Limit Orders, and Swap Aggregator DODOX. Currently, DODO is deployed on the mainnets of 14 blockchains, with over 24 million transactions, more than 3.31 million users, and a total trading volume exceeding $141 billion.
Over the past three years, our team has dedicated significant effort to create products that offer our users the best trading prices and liquidity solutions. We envision a future where blockchain technology evolves into an integrated ecosystem of multiple chains, with numerous Layer 2 solutions catering to diverse market demands. However, there are several challenges that Layer2 solutions must overcome, including fragmented liquidity, high operating costs across multiple chains, security concerns related to cross-chain bridges, and difficulties in communicating with various blockchains. Additionally, the increasing number of non-EVM assets necessitates a greater need for cross-chain transactions.
The DODO team believes that a major transformation is required for the existing multi-chain DApp ecosystem. To facilitate the seamless flow of assets, it is crucial to eliminate barriers between EVM and non-EVM ecosystems, considering the wide array of assets issued on numerous chains. To achieve interconnectivity across all chains, our team proposes an innovative solution called DODOchain. By integrating and maximizing liquidity on DODOchain, it becomes possible to achieve seamless asset exchange, enhance asset issuance efficiency, and provide convenient trading across multiple chains.
DODOchain as the Solution
The underlying concept of hosting a third layer on-chain is driven by the need for blockchain to cater to highly customized use cases in the future. Layer 3 focuses on addressing the limitations of Layer 2 concerning cross-chain compatibility, with a strong emphasis on delivering customized capabilities. Acting as a bridge across various blockchain ecosystems, Layer 3 enables the seamless movement of data and transactions between chains such as Ethereum, Bitcoin, and Solana.
Layer 3 can enhance transaction efficiency and generate substantial cost savings, establishing an omni-liquidity layer that requires higher transaction throughput and significant network charge reductions.
Developers can easily and anonymously launch their own L2 or L3 Orbit chain on Arbitrum, thanks to multiple technological options, including Arbitrum Orbit. This empowers them with complete control over gas tokens, privacy, permissions, governance, and more.
This aligns perfectly with our vision and enables us to build our own app-chain. To enhance the trading experience for our users, the DODO team will utilize Arbitrum Orbit to construct a comprehensive Layer 3 chain for cross-chain transactions. This chain will offer reduced gas prices, faster transaction execution and confirmation, and more consistent returns.
Additionally, DODOchain will provide:
– Omni-chain liquidity outposts: DODOchain offers services and products like Omni Trade, Omni Liquidity, and Omni Mining to its users.
– Connector between BTC L2 and ETH L2: By bridging BTC L2 and ETH L2, including Non-EVM Chains, DODOchain can attract new users and assets.
– Native restaking yield: DODOchain is expected to offer native staking yields for its assets.
DODOchain’s Collaborative Partnerships
We are pleased to introduce DODOchain’s vital partners:
– Arbitrum Orbit: Arbitrum Orbit presents a powerful new approach to creating Layer 2 and Layer 3 chains. By enhancing the Arbitrum tech stack with customizable features, it maintains the security assurances of the Ethereum ecosystem while providing DODOchain with increased scalability, efficiency, and user-friendliness.
– Eigenlayer: EigenDA, an integral part of Eigenlayer specializing in data availability (DA) throughput, will be utilized by DODOchain to leverage Ethereum’s security and consensus capabilities. As one of the first Actively Validated Services (AVSs) in the Eigenlayer ecosystem, DODOchain will also function as a restaked rollup.
– AltLayer: Leveraging EigenLayer’s robust restaking mechanism, DODOchain incorporates AltLayer’s innovative restaked rollups architecture. This enhances decentralization and network security while enabling rapid deployment and cross-chain interoperability, delivering a more seamless and integrated blockchain experience to users.
Our objective with DODOchain is to establish a smooth, efficient, and secure ecosystem for liquidity sharing and cross-chain trading, enabling users to freely issue, trade, and manage their assets across diverse blockchain networks without limitations or permissions.
The DODOchain Testnet is now live, providing you with an opportunity to firsthand test, develop, and innovate a next-generation omni-trading experience.
Explore our Testnet: dodochain.com
