DODO is Live On Arbitrum One

Published on: 02.09.2021
DODO is Live On Arbitrum One

DODO is now live on Arbitrum One to transfer 5 million DODO tokens to the Arbitrum One for community rewards.

This comes as the third part of our avian-themed DODO Carnival incentives series, known as the Kakapo program. The Kakapo plan will be accomplished with Classic Pool liquidity mining and trading rewards.

🔥Part 1: Liquidity Mining

The following are the liquidity pools that were first available on DODO Ethereum in August 2020, and which will now be available on DODO Arbitrum:

  • wBTC/USDC
  • ETH/USDC
  • USDT/USDC
  • DODO/USDC (please note that trading rewards do not apply to this pool)

Liquidity providers (LPs) will receive DODO token rewards for their liquidity contributions to these pools.

🔥Part 2: Trading Rewards

A total of 10,000 DODO tokens will be up for grabs for traders each day under the following structure:

  • Any wallet address is eligible for these trading rewards, with a minimum trade amount of $100 per transaction in order to qualify
  • Each eligible trade qualifies for 2 DODO tokens in trading rewards
  • The maximum value of rewards per day is capped at 125 DODO tokens per day per eligible address
  • Wash trading, bot interference, and other suspicious and/or exploitative activities will not be tolerated and will be extensively monitored

Trading rewards are subject to a 90-day vesting schedule and the tokens will be linearly released on a per-block basis. Rewards will be distributed each week (every 7 days) to eligible and qualifying addresses. Users will need to claim these rewards when they wish to.

The trading rewards program will be reviewed on a weekly basis, and various platform performance metrics will be taken into account for any further adjustments made.

About DODO

DODO is a liquidity protocol powered by the Proactive Market Maker (PMM) algorithm and built for capital efficiency.

About Arbitrum

Arbitrum is next generation layer 2 for Ethereum dApps. Use your favorite tools and scale your dApp at the lowest cost.

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