We covered the (then) upcoming DODO v2 launch in a daily note published a few weeks ago. Now it has launched. In this piece, we’ll cover DODO’s recent performance and what v2 may mean for the future of the protocol.
Recent Performance
Even though DODO’s trading volume improved significantly in February, it’s still fighting to gain market share within Ethereum’s highly competitive DEX ecosystem, as seen below. A successful v2 launch, as well as an aggressive growth incentive program may be needed for this positive dynamic to transform into a more sustained trend. In the next sections we explore how this may play out.
Going After More Assets
With the launch of v2, DODO’s goal is clear: to support more assets natively in order to increase volumes and market share. Strategically, this makes sense, particularly if you take into account that DODO only offers 10 different assets currently, while other DEXs offer anywhere f
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