Boba Network and DODO Partner to Offer Enhanced Liquidity and Issuance Capabilities
PALO ALTO, Calif.--(BUSINESS WIRE)--Aug 24, 2021--
Boba Network - a next generation Ethereum Layer 2 Optimistic Rollup scaling solution developed by Enya - announced its integration with decentralized exchange and on-chain liquidity provider DODO. Through the partnership, DODO will bring ample liquidity to Boba, ensuring smooth asset flows and growth of the Boba ecosystem. DODO’s liquidity protocol, powered by their Proactive Market Maker (PMM) and contract-fillable liquidity, sets the innovative platform apart from other decentralized exchanges.
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Major features of the integration include DODO’s SmartTrade and aggregation, crowdpooling - whereby interested users are able to contribute liquidity in exchange for tokens, and PMM-based liquidity solutions via DODO Vending Machine and DODO Private Pool. The integration of SmartTrade to the ecosystem will allow Boba users to trade tokens at the best price possible, through DODO’s custom routing algorithms combined with 0x and 1inch APIs.
“We’re excited to co-create the multi-chain future alongside Boba,” Diana Dai, DODO’s Chief Marketing Officer and co-founder, shared. “The new brand is fresh and ambitious - and DODO is thrilled to be the launch partner to bring our DEX product suite to Boba.”
Crowdpooling ensures that Boba users will have access to fair token launches, without the concern of frontrunning from bots. In addition to these features, users will benefit from Boba’s reduced gas fees, improved transaction throughput, and native fast-exit bridge to withdraw their funds within minutes.
“We are thrilled to partner with DODO to bring not only their ground-breaking PMM algorithm, but the full DODO experience to the Boba Network community,” said Alan Chiu, Founder and CEO of Enya. “DODO has a proven track record of innovation in DeFi, and we are committed to making Boba Network the best home for DODO users.”
DODO’s role on the Boba Network will grow through the introduction of liquidity incentives, which will be determined through a DODO community governance program.
Founded by Stanford faculty and alumni, Enya pioneered decentralized privacy and became the largest provider of secure multiparty computation services, serving more than 10 million users across 91 countries. Enya creates decentralized infrastructure solutions that serve the next billion users, leading with Boba Network. Boba is an Ethereum Layer 2 solution that scales and augments Ethereum, helping developers deliver a more delightful and inclusive user experience. Enya is a core contributor to OMG Foundation. To learn more about Enya, visit enya.ai.
Boba is an Ethereum Virtual Machine (EVM) compatible Layer 2 Optimistic Rollup that helps Ethereum smart contracts scale while delivering a delightful user experience. Boba enables Ethereum developers to build dApps that trigger code running on web-scale infrastructure such as AWS Lambda, making it possible to leverage sophisticated algorithms that are either far too expensive, far too slow, or practically impossible to execute on-chain. Learn more at boba.network.
DODO is a decentralized exchange platform powered by the Proactive Market Maker (PMM) algorithm. The platform features highly capital-efficient liquidity pools that support single-token provision, reduce impermanent loss, and minimize slippage for traders. DODO removed all roadblocks hindering liquidity pool creation for the issuance of new assets – asset ratios, liquidity depths, fee rates, and other parameters can all be freely customized and configured in real-time.
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CONTACT: Jennifer Testa
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY OTHER TECHNOLOGY DATA MANAGEMENT
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PUB: 08/24/2021 09:00 AM/DISC: 08/24/2021 09:02 AM