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.
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.