DODO Decentralized Exchange will airdrop hDODO tokens

DODO DEX and Helmet Insure will offer $80k worth of rewards for the mining campaign
  • DODO DEX will airdrop hDODO tokens on 19th March 2021, at 07:00 AM EST
  • User with 1 or more than 1 vDODO tokens are only eligible to claim airdrops
  • The DEX, along with Helmet Insure, will offer a total of $80k worth of mining rewards

DODO, a DeFi protocol and on-chain liquidity provider with a unique Proactive Market Maker (PMM). The algorithm behind PMM aims to offer better liquidity and stability than Automated Market Maker (AMM). The protocol had launched last year only operating as an ERC-20 token on the Ethereum blockchain. This week, Helmet Insure and DODO DEX collaborated to introduce a mining trilogy. Moreover, on Thursday, the mining trilogy campaign rolled out a little surprise for its users. According to a tweet by DODO DEX, they will airdrop hDODO tokens, a call option of the DEX.

DODO DEX is to airdrop of 22k hDODO tokens

According to the airdrop’s announcement, DODO DEX and Helmet Insure’s trilogy mining campaign will airdrop a few tokens. The protocols are about to airdrop 22,000 hDODO tokens to the users with more than or equal to one vDODO token. The airdrop is expected on Friday, 19th March, at 07:00 AM EST. Users with more than or equal to 1 vDODO token before the airdrop are eligible to get free hDODO tokens. The wallet snapshot has already been taken on Thursday at ETH block number 12057139. However, to claim the airdrop, the users will have to switch their wallet network to Binance Smart Chain (BSC).

Combo mining of tokens will start soon

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In the official announcement, DODO DEX also mentioned that Combo mining for DODO and Helmet would begin on Saturday, 20th March 2021. And the mining is expected to end on 8th April at midnight (Singapore Time). Furthermore, the protocols have originally planned to distribute $60k as mining rewards. The protocol teams will also offer an additional $10k worth of hDODO tokens, meaning the total rewards for the mining campaign will be $80k. 

To receive mining rewards, users will have to provide liquidity for the hDODO-Helmet pool on the DEX. The users will also have to stake DLP tokens on Helmet to participate and earn rewards in both the tokens. Moreover, the DEX has given a detailed tutorial on participating and earning rewards.

Mining trilogy of both the protocols

The mining trilogy of both DODO DEX and Helmet consists of three mining rounds. First, the burning box round, which had started on March 15th, with a total of 10k hDODO burning supply. The second round is the flash mining round, which started on March 16th and is expected to end on March 31st. This round consisted of a flash mining supply of 40k hDODO tokens. And the third round is Combo mining, which consists of $60k worth of mining rewards.

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Ahtesham Anis
Ahtesham Anis is a Computer Science undergrad student currently based out of India. Coming from the business background and his keen interest in Cryptocurrency and Blockchain technology is what Ahtesham brings to the table. He is always an eager learner when it comes to exploring the new technologies and topics in the crypto world.

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