🏦 DODO Token
$DODO, DODO's native token, was created for two main functions: to incentivize growth and capture value, both of which the DODO team has always viewed as central to the design of any token economy.
DODO is a governance token that is also endowed with certain functions. DODO token holders enjoy the following benefits:
- The right to create and vote on governance proposals (DIPs)
- Favorable quota for IDO and Crowdpooling investment
Currently, DODO tokens have been issued on four main chains, including Ether, BNB, Arbitrum, and Aurora. The total token supply remains unchanged.
DODO Token Allocation#
The DODO Team distributes many DODO tokens in cost-effective incentive campaigns to help grow the platform and the community. At the same time, DODO tokens are used to capture the full value of the platform, being distributed to the most loyal DODO community members. This includes up to 60% of the total DODO token supply being set aside for community incentives.
The total DODO token supply is 1 billion, and the token distribution is as follows:
| Group | Token Allocation |
|---|---|
| Core Team / Future Recruitment / Consultants | 15% |
| Investors | 16% |
| Initial Liquidity Provision (IDO) | 1% |
| Operations / Marketing / Partners | 8% |
| Community Incentives | 60% |
Token Release Schedule#
| Group | Lock-up | Release |
|---|---|---|
| Core Team / Future Recruitment / Consultants | 1 year | Linear release over next 2 years |
| Seed Round Investors | 1 year | Linear release over next 2 years |
| Private Placement Round Investors | 6 months | 10% release after 6 months, then linear release over next year |
| Initial Liquidity Provision (IDO) | Tokens were fully released on August 15, 2020 | Tokens were fully released on August 15, 2020 |
| Operations / Marketing / Partners | No lock-up | Immediate release |
| Community Incentives | No lock-up | Immediate release |
All tokens of the investors and founding team have been fully unlocked now.
How to Buy $DODO#
$DODO is our native token, which is issued on Ethereum and has been mapped to other blockchains such as BSC, Arbitrum, and others.
The most direct way to buy DODO is to visit our website.
If you are not used to using a DEX, you can also buy it on Binance.
Other Ways to Get $DODO #
Besides direct purchase, you can also get DODO tokens by participating in a DODO liquidity mining campaign.
Distribution of DODO Tokens Across Chains#
Currently, the DODO protocol is supported on Ethereum, Arbitrum, Polygon, BNBChain, Optimism, Avalanche, Aurora, OKTC, Conflux eSpace, Base, Linea, Scroll, Manta and other networks, with more added in the future. Despite this distribution, the total token supply remains the same. The following are some examples of DODO token migrations to other chains:
- BNB Chain: The team has migrated 48 million DODO tokens to the BNB mainnet
- Arbitrum: The team has migrated 5 million DODO tokens to the Arbitrum mainnet as a result of DIP-4
- Aurora: Team has migrated 3.52 million DODOs to the Aurora network as a result of DIP-7.
- Polygon: eam has migrated 3.5 million DODOs to the Polygon(POS) network as a result of DIP-9 and DIP-14
- Avalanche: Team has migrated 2 million DODOs to the Avalanche network as a result of DIP-10
- Boba: Team has migrated 2 million DODOs to the Boba network as a result of DIP-10
- Moonriver: Team has migrated 2 million DODOs to the Moonriver network as a result of DIP-10
🏁 vDODO#
vDODO, by contrast is a membership certificate, which is set up for loyal coin holders. vDODO holders enjoy all the benefits of DODO holders, as well as:
- A fraction of all transaction fees on DODO
- vDODO Membership Rewards
The relationship between DODO and vDODO is as follows:
- If you pledge 100 DODO tokens, you can mint 1 vDODO.
- Redeeming vDODO for DODO tokens requires paying a "redemption fee".
Minting and Redeeming vDODO #
Minting vDODO for Membership Rewards #
Pledging 100 DODO tokens allows you to mint 1 vDODO. vDODO tokens can be transferred or traded between users, and vDODO holders receive membership rewards.
Every new block, 12 DODO tokens are distributed proportionally to vDODO holders as a membership reward.
If you invite your friends to mint vDODO, you will receive an additional 10% of the invitee's membership reward.
Holding vDODO entitles you to receive a proportional share of 50% of the vDODO redemption fees paid by other users. The remaining 50% of redeemed vDODO tokens are permanently destroyed.
Minting vDODO to Receive a Portion of Transaction Fee Revenue #
The DODO Team distributes its platform revenue around the 22nd of each month. 75% of the revenue will be repurchased through the secondary market and minted into vDODO to be directly distributed to all vDODO holders. And 25% of the revenue will be transferred to community treasury
Redeeming vDODO#
Transforming vDODO into DODO tokens, known as vDODO redemption, requires the payment of a proportional redemption fee. 50% of this refund fee will be immediately distributed to all non-redeeming vDODO holders in the form of vDODO tokens, and the remaining 50% are permanently destroyed.
However, the DIP16 community has decided to remove the vDODO redemption fee.