What is the DODO project submitted on the “Binance Launch Pool”?
Binance announced the seventeenth project called “DODO” on the “Binance Launchpool” platform.
The “DODO” project is a decentralized trading platform that provides various services on top of which are decentralized lending, borrowing and “yield farming”.
Users will be able to share the "BNB", "BETH" and "BUSD" cryptocurrencies in separate pools to earn a return in DODO currencies over 14 days, from the start of the business.
Users will be able to share the "BNB", "BETH" and "BUSD" cryptocurrencies in separate pools to earn a return in DODO currencies over 14 days, from the start of the business.
And the reception of digital currencies “BNB”, “BETH” and “BUSD” began today, February 19, 2021 at 12 o'clock at night UTC.
Binance digital currency trading platform will then list the digital currency “DODO” for trading in the innovation zone today, February 19 at 10:00 AM UTC.
The DODO digital currency is available for trading against the following pairs:
DODO / BTC
DODO / BUSD
DODO / USDT
Launchpool DODO details:
- Project name and digital currency: “DODO”.
- Total cryptocurrency supply: 1,000,000,000 DODO.
- Allocate "Launchpool" rewards by: 1,069,518 DODO
- Current Circulation Supply: 140,000,000 DODO
- Smart Contract Title: DODO (ERC-20)
- Quotation terms: There is no upper limit and no KYC requirement.
Supported Pools:
- The BNB foreclosure rewards are estimated at: 641,710.8 DODO, which is 60% of the rewards.
- BETH cryptocurrency rewards are estimated at: 320,855.4 DODO, which is 30% of the rewards.
- BUSD cryptocurrency dividends are estimated at: 106,951.8 DODO, which is 10% of the rewards.
Quotation period: February 19, 2021 00:00 AM (UTC) to March 4, 2021 23:59 (UTC).
From Binance's explanation of the DODO apportionment:
Hourly snapshots of user balances and total group balances will be taken to calculate user rewards, which will also be updated hourly.
Users will be able to collect their rewards (calculated hourly) and claim these rewards directly to their online accounts at any time.
Annual Percentage Return (APY) and total group balance will be updated in real time.
Tokens can only be grouped into one group at a time.
For example, User A cannot participate in the same BNB in two different groups at the same time, but can allocate 50% of BNB to group “A” and 50% in group “B”.
Users will be able to decode their digital currencies at any time without delay and participate in any other available combos immediately.
The digital currencies in each batch and any rewards that are not claimed will be automatically transferred to each user's online accounts at the end of each period.