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The essence of Layer2 is a public chain

Traffic and application are like chicken and egg

The application said, where there is traffic, I will go there. Traffic said, where there is an application, I will go there. How to complete this cold start has become the biggest headache for every public chain.

It is possible for any public chain to create a popular application out of thin air, just like the ICO on Ethereum, to complete this cold start. But in terms of business logic, this is a low-probability and difficult-to-replicate solution.

The combination of traffic and applications is the so-called "ecology", and this is the biggest moat of Ethereum. Thousands of developers contribute codes to Ethereum every day, accumulating intellectual assets and applications. There are tens of thousands of users issuing or buying assets on Ethereum.

The public chains are positioning themselves as Ethereum Layer 2, sharing the Ethereum ecosystem to complete their own cold start.

At the same time, considering the dominant position of ETH, it is hard for the market to believe that there is a public chain that can rise without bridging with Ethereum. Ignoring the existence of ETH and positioning yourself as an Ethereum killer is no longer feasible.

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Layer 2 is not a free lunch

Migrating to Layer 2 is costly. Mainly reflected in two aspects:

Development costs

A large amount of our existing code, especially the contract code that has spent a lot of energy and money and has passed the test of time, is based on Ethereum design. Migrating to Layer2 means a huge amount of development.

security cost

security cost

Because Layer2 is a public chain, it has not passed the test of time, and no one knows whether it will be attacked. For financial applications such as defi, a security incident is fatal. When migrating to layer2, the projects settled in the early stage will naturally get a lot of traffic blessing, but they also face great security risks from outside themselves.

So when choosing Layer 2, we value two features the most:

Compatible with EVM, low development cost, complete supporting tools

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What kind of Layer2 is pragmatic?

Trusted computing resources must be scarce. Unless the underlying physical circuit capabilities are improved, all efforts to improve TPS will sacrifice security to a certain extent. Since L2 has to sacrifice safety for efficiency, it is also a feasible and pragmatic experimental plan to use [brand] to ensure safety.

If I tell you that there is a completely forked Ethereum here, but it is faster, has powerful resources for asset security, and has transaction assets that users need most.

Why not？

This is Binance Smart Chain BSC. And we believe that Binance’s own traffic and channels play a very good role in supporting BSC. Choosing BSC as layer2 can not only borrow the resources of the Ethereum ecosystem, but also borrow the resources of Binance. It is a win-win business model.

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What services does DODO provide at BSC?

Since the DODO team started investing in v2 research and development in October 2020, it has been preparing for the development and deployment of the dual chain of Ethereum and BSC. DODO v2 will not be limited to relying on third-party oracle machines, but will deeply utilize the advantages of the PMM algorithm to liberate the flexibility of establishing a liquidity pool.

DODO v2 supports the following features:

Smart aggregation transaction (integrated with PancakeSwap liquidity)

New Asset Issuance Tool - Crowdpooling

Liquidity Public Offering of Custom Ratio (DODO Vending Machine)

Liquidity pool creator custom market making (DODO Private Pool)

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Migrate part of DODO tokens to Binance Smart Chain

In order to support the DODO platform's ecological development and traffic capture in BSC, we will gradually carry out various incentive activities.

We allocated 80,000,000 tokens (8% of the total) in the DODO token contract to the [Market/Operation/Partnership] section and marked them as circulating.

1. 40,000,000 (accounting for 4% of the total) will be transferred to a new address in Ethereum for future market operations. Ethereum address:

0x51D21C1a9B0A3C5964877beD99945f7C1EfF10cD

2. The remaining 40,000,000 (4% of the total) will be migrated to the BSC network in the next few days.

And 13,000,000 tokens (accounting for 1.3% of the total amount) of [community incentives] (60% of the total amount) will also be migrated to the BSC network. A total of 5.3% of these tokens will be used for the ecological incentives of the DODO platform in BSC.

After the migration is completed, the circulation of DODO tokens will reach 14%. But this does not mean that these tokens have been released and distributed. The team will only announce and distribute tokens when it is necessary to provide token incentives, and the use of these tokens is subject to community supervision.