TL;DR
- DODOchain is an Omni-Trading Layer 3 Solution that seamlessly bridges Layer-2s of Bitcoin and Ethereum.
- It focuses on consolidating liquidity from diverse chains into its platform.
- DODOchain allows users to trade tokens and increase earnings through staking.
The DODO team has launched the first Layer 3 solution, called DODOchain, that leverages the capabilities of EigenLayer, Arbitrum Orbit, and AltLayer. The Layer 3 solution is the first of its kind to efficiently bridge Layer 2 solutions on the Bitcoin and Ethereum networks. DODOChain primarily focuses on bringing together liquidity from an array of chains to one place.
The rollup-level liquidity layer allows users to trade cryptocurrency tokens and increase returns on their investments through restaking on the same platform. Since DODO was launched in August 2020, it has continued developing innovative projects within the blockchain space. Since 2020, the DODO team has released DODO V2, which offers liquidity pools focusing on Stablecoins, Altcoins, and Mainstream assets with a variety of user groups.
DODO is currently operating on 14 blockchains and recording upwards of $141 billion in trading volume, 3.31 million users, and 24 million total transactions. These figures show the immense power demonstrated by DODO. So, why is DODOchain a necessary development for the team? Let’s find out!
The Problem
Simply put, the problem lies in cross-chain transactions. The DODO team has real market experience with Layer 2 solutions. Although most Layer 2 solutions have solved several Layer 1 challenges, they have fallen short in overcoming all the challenges that blockchain technology faces.
According to the DODO team, Layer 2 solutions are currently facing challenges such as fragmented or limited liquidity access, exorbitant prices for cross-chain transactions, complexities involved in multi-chain interactions, and security risks presented by bridges.
Reasonably, the future of blockchain technology lies in finding a seamless solution that efficiently interconnects all blockchains to provide users with the best possible experience. This high level of interconnectedness has been challenging to achieve through the existing Layer 2 solutions.
The current state of digital assets is quite chaotic, with several tokens being issued on EVM-compatible chains and a growing number on non-EVM chains. In order to bring together all blockchains, a solution has to be developed that allows the flow of digital assets across EVM and non-EVM chains.
DODOchain as a solution
DODOchain is mainly focused on the interconnectedness of blockchains. The Layer 3 solution provides frictionless multichain transactions by integrating and optimizing liquidity on the DODOchain.
DODOchain addressed the challenges experienced by Layer 2 solutions by solving the multi-chain interoperability. The solution provides a secure bridge between blockchain networks, enabling interconnectivity between existing ones.
This groundbreaking technology will ensure DODOchain provides products and services like Omni Trade, Omni Liquidity, and Omni Mining. It will also incorporate a BTC L2 and Ethereum L2 connector and a native staking yield for digital assets.
The strategic partnerships forged by DODOchain will ensure the long-term growth and development of this Layer 3 solution. AltLayer will provide its novel restaked rollup infrastructure that’s built on top of EigenLayer’s restaking protocol. Arbitrum Orbit provides a robust infrastructure to build Layer 2 and Layer 3 solutions.
As of today, the DODOchain, a product of these partnerships, is launching its Testnet. The Testnet is available here for users and developers to test, build and innovate.
