On May 4th, BreederDODO announced the launch of DODO NFT. DODO NFT aims to help small investors and collectors in the NFT ecosystem overcome their inability to purchase their most desired items due to prohibitive prices. DODO NFT will fractionalize NFTs to reduce investor costs, meaning that NFTs will be available to a wider purchase base.
DODO NFT – Fractionalized NFTs
While the Non-Fungible Token (NFT) ecosystem has grown tremendously, many small investors and collectors have found it difficult to acquire their most wanted items due to prohibitive prices. As a leading liquidity provider, DODO has launched a solution to solve this problem with the recently announced introduction of DODO NFT, a project that fractionalizes NFTs. This solution involves putting the NFT in a vault and fractionalizing it into fungible tokens (by issuing ERC20) to create ownership of the vault. This enables users to trade their fungible ‘shares’ of the vault via DODO’s Proactive Market Maker (PMM) algorithm. This process will allow anyone to buy a share of such NFTs based on the amount they can afford.
Advantages of Being on DODO NFT
DODO’s PMM offers three main advantages for its investors:
Single-sided liquidity, initial capital commitment isn’t required
Various price curves for different market conditions
Trading fee can be customized
Fractionalizing the NFT into fungible tokens and putting it in a PMM enhances the compatibility of these fractions with other DeFi protocols. This makes it possible for each fraction to be traded for any tokens, be used as collateral, or access trading routes. Creators and communities can use the DODO NFT to create personalized terms for bootstrapping NFTs’ liquidity, incorporating any flexibility that suits each project.
About DODO
DODO is an on-chain decentralized exchange/liquidity provider built on the platform’s PMM algorithm. DODO recently partnered with IOSG to kick off the latter’s Kickstarter program. The IOSG Kickstarter program aims to provide funding of up to $100k and mentorship to early-stage developers in the web 3.0 network. DODO NFT is a new protocol solely developed for liquidity and innovation on the NFT side of the market. The unique project allows anyone to own a share of the NFT market regardless of the amount they own. Various other DODO solutions cater to other market strategies in the blockchain metaverse. Interested investors can learn more about DODO here, get fast updates about DODO by following them on Twitter, and for discussion or chat with any member of the DODO ecosystem, get in touch via Telegram or Discord.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.
