The cryptoeconomy is more and more changing into a cross-chain ecosystem the place customers need entry to DeFi companies throughout a number of blockchains and scaling options concurrently. In response to this more and more advanced panorama, DODO has launched a diversification technique to make its companies out there throughout a variety of DeFi-centric blockchains. DODO’s proactive Multi-Chain Technique is a three-pronged method: deploying on layer-one blockchains, equivalent to Ethereum, layer-two chains, equivalent to Arbitrum, in addition to on sidechains, equivalent to Arbitrum.
A few of the important deployments embrace Ethereum and Binance Sensible Chain for layer-one, Chainlink and Arbitrum for layer-two (whose inaugural DeFi cohort included DODO), and the Polygon PoS sidechain. DODO has additionally been making forays into the NFT world, with main companions together with Marvel-licensed KAKA, the Concern recreation studio (creators of the Whack It franchise), and Yui Hatano (one of many greatest grownup entertainers in Japan). The Multi-Chain Technique represents the newest in DODO’s endeavors to make the DeFi world, and specifically, its distinctive Proactive Market Maker (PMM) mannequin, out there to as many individuals as doable.
Diane Dai is the 24 year-old co-founder and CMO of DODO, a decentralized crypto change based mostly in Singapore. Diane Dai is a widely known thought chief and pioneer within the Chinese language DeFi group, and has been working within the decentralized change area since 2017. Previous to founding DODO, she frolicked at DDEX and CypherJump.
What has been the standard firm response to monetary know-how improvements nationally?
Usually talking, the standard response has been to simply ignore them. Established firms in China are, by and enormous, apathetic to the current developments in decentralized finance.
WeChat stays the most important Chinese language fintech supplier, whereas WeChat Pay and AliPay are the most important native platforms for fiat transactions. These main gamers haven’t positioned monetary innovation on their precedence listing, which has created alternatives to serve prospects in search of out these monetary improvements.
How has this modified over the previous few years?
Developments in fintech over the previous 5 or so years have made an impression on the standard platforms, however they’re solely minimally warming as much as the potential for implementing them.
Banking, cash switch, and insurance coverage have all remained stagnant from a know-how standpoint. This angle of ignoring innovation has opened the door for progressive, non-traditional firms to enter the scene, together with firms within the nascent DeFi sphere equivalent to DODO.
Is there something that has created a tradition of change inside the corporate?
Not like the established TradFi firms, DODO’s staff is younger and energetic. Our devs are proactive and by no means complacent. To remain forward of the curved and proceed innovating, they’re consistently experimenting with new concepts based mostly on market analysis and real-time suggestions from our group.
We’re additionally conscious of our place within the broader DeFi area, and preserve a detailed watch on developments from throughout the ecosystem. This dynamic technique ensures our place on the forefront of the DeFi world, constantly including new options to not simply keep aggressive however keep ease of our competitors with recent innovation.
What fintech concepts have been carried out?
DODO’s important goal for the previous six months has been deploying our product on as many DeFi-centric blockchains as doable. The Multi-Chain Technique is our approach to improve customers and liquidity suppliers whereas additionally guaranteeing our readiness for sudden shifts in platform reputation.
With DODO being deployed on quite a lot of L1s, L2s, and sidechains, our product is now built-in with each main chains equivalent to Ethereum, Arbitrum, and BSC, in addition to smaller opponents equivalent to Moonbeam and Huobi.
What advantages have these introduced?
Now that DODO’s Multi-Chain Technique has been in power for round six months, we see the clear advantages it has introduced us. Elevated consumer quantity and liquidity are the obvious advantages, however we’ve gained in qualitative measures as effectively. Our consumer base is rising and DODO’s diversification throughout quite a lot of chains has made us resilient to shifting market dynamics. With our eggs unfold throughout many baskets, we’re set for achievement, no matter how DeFi evolves.
Do you see every other trade challenges on the horizon?
The speed at which monetary know-how is creating is changing into a significant trade problem. With an more and more advanced DeFi panorama consisting of a whole bunch of latest tendencies, chains, and protocols, our firm should be at all times able to combine with rising APIs and liquidity sources, and to deploy onto new chains. Regulatory restrictions may also pose a rising problem to the trade.
DODO is effectively ready for these challenges, as we’re absolutely compliant with the regulation in Singapore and are ready to defend our monetary rights and people of our customers in native courts of regulation.
Can these challenges be aided by fintech?
DODO’s technique has been to diversify our deployment to cowl as massive a portion of the DeFi ecosystem as doable – that approach, a change in reputation of 1 platform is not going to have an effect on our total efficiency.
After all, to remain aggressive, we additionally must innovate higher than the competitors. DODO’s dynamic approach of working and top-notch expertise are our greatest instruments to make sure that our fintech merchandise and options stay market-leading improvements. These improvements, in flip, appeal to higher technical and non-technical expertise, which permit us to maintain up with regulatory tendencies as effectively.
DODO’s PMM and Crowdpooling fashions signify a revolution within the DeFi world. Our important focus now’s to make them out there to as many individuals as doable, on as many platforms as doable. That approach, your entire DeFi ecosystem can profit from DODO’s market-leading liquidity, ease of use and customization, and different distinctive options.