Launched in August 2020, Dodo is a decentralized exchange and on-chain liquidity provider. Dodo employs its proactive market maker (PMM) pricing mechanism to source highly accurate market prices for crypto assets. Dodo claims that PMM offers better liquidity and price stability than automated market makers (AMM). Dodo’s smart contract operates on Ethereum as an ERC-20 token and facilitates the trade of a wide range of crypto assets, including NFTs, across multiple blockchains.