Summary

Summary

In addition to governance rights, DODO tokens have 2 new functions:

Holders will enjoy the new quota of IDO and crowdfunding pool building.

Discounts on transaction fees on the DODO platform.

Introduce vDODO as a proof of membership, pledge 100 DODO, you can cast a vDODO, vDODO does not support transfer.

vDODO holders enjoy the same rights and interests as holding DODO, in addition to enjoying transaction fee dividends and membership rewards.

To redeem vDODO for DODO tokens, a "withdrawal fee" must be paid to members who have not withdrawn.

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DODO functionality and value capture

🐣DODO

DODO is a governance token and is also endowed with certain functions. Holding DODO, you will enjoy the following rights and interests:

Proposals and Voting Rights

Subscription share of IDO and crowdfunding on the DODO platform

Transaction fee discount

🐥vDODO

vDODO is a membership credential. The membership system is set up for loyal currency holders. With vDODO, you will enjoy the following benefits:

Transaction Fee Dividends

vDODO Membership Rewards

Proposals and Voting Rights

Subscription share of IDO and crowdfunding on the DODO platform

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Minting and redeeming vDODO

Mint vDODO to get membership rewards

Staking 100 DODO can be minted into 1 vDODO. vDODO is not transferable. vDODO can get member rewards:

Each block releases 6 DODO tokens, rewarded to vDODO holders.

vDODO holders receive a proportional share of DODO membership rewards.

Invite others to mint vDODO and get an extra 10% of the invitee's reward.

During the first 7 days after the launch of the vDODO membership system, the membership rewards will be doubled.

Redeem vDODO Pay withdrawal fee

To redeem vDODO into DODO, you need to pay the withdrawal fee proportionally. This withdrawal fee will be distributed immediately in the form of vDODO to all vDODO holders who have not withdrawn.

Define "vDODO quantity * 100" divided by "DODO circulation quantity" as "DODO loyalty index". The higher the loyalty index, the lower the withdrawal fee:

When the loyalty index is greater than 0.5, more than 50% of the circulating DODO is mortgaged, and the withdrawal fee reaches the lower limit, 5%.

As the loyalty index declines, the withdrawal fee gradually increases.

When the loyalty index is less than 0.1, only less than 10% of the circulating DODO is mortgaged, and the withdrawal fee reaches the upper limit, 15%.

Below we give a more specific formula:

Define the loyalty index as x and the penalty rate as y

When x>0.5, y = 0.05

When x<0.1, y = 0.15

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DODO Community Growth Incentives

The DAU of the DODO platform is our most important growth indicator during this period. Token incentives are an important means to obtain user growth. For the two types of users on the DODO platform, we have designed the following two incentive activities.

Transaction Mining: For Traders

Every block, release 3 DODO tokens to the transaction prize pool

As long as you trade on the DODO platform, you can get 1% of the prize pool

Triple rewards for popular currencies, the list of popular currencies is jointly determined by the community and the DODO operation team

Joint multi-mining: for project parties and liquidity providers

In order to unite more project parties and communities, DODO will launch a joint multi-mining activity. The project party builds a pool in DODO, and after the review, its liquidity providers can get DODO tokens as liquidity mining rewards.

Tokens are the soul of the project

A blockchain project without tokens is soulless. Because tokens carry the dual functions of "incentive growth" and "capture value". The DODO team always regards these two functions as the core of the token economy design.

We will distribute DODO tokens with cost-effective incentives to help the platform and community grow. At the same time, DODO tokens will be used to capture the full value of the platform and distributed to loyal holders of DODO.

Of the total DODO token supply, up to 60% is reserved for community incentives. These amounts are so large that we cannot determine how they will be used in the first place. At the same time, DODO's business scenarios are becoming more and more abundant, and the number of users is increasing. How to capture value has become an important topic for the team.

This DODO economic model V2 is just an introduction. Community participants are welcome to contribute ideas and suggestions to jointly nurture the growth of DODO.

DODO Community Forum:https://community.dodoex.io

Thanks to Eraser Li, Vance Spencer, Roy Learner, Arthur Cheong, Eugin Lee, Jerry Zhou, William Nuelle, Tarun Chitra, Maple Leaf for valuable comments and suggestions.