Launch Stable DODO

Summary:

The DODO AMM is a multichain DEX focused on scalability, flexibility, and versatility. Powered by the Proactive Market Maker (PMM) algorithm, DODO brings ample liquidity across the full spectrum of DeFi networks and scaling solutions. The trading platform offers Crowdpooling, a permissionless, equal opportunity liquidity offering mechanic, as well as customizable technical solutions geared towards professional on-chain market makers. With the implementation of a Decentralized Monetary Authority (DMA), we believe it can become one of the most used AMMs across the DeFi ecosystem.

Stable DODO will be built by ICHI for the DODO community. This will be built with the intention of DODO using it as a base asset within their DEX on Ethereum mainnet (to start) in order to drive arbitrage volumes higher and earn more fees for the AMM. Stable DODO will drive demand for $DODO and enable the DODO community to lock value within their platform.

Specification:

ICHI to:

• Deploy a Decentralized Monetary Authority (DMA) for the DODO community, building a Branded Dollar backed by both $DODO and $USDC;
• Provide $500k in $ICHI rewards to the incentivized pools on DODO.

DODO to:

• Provide $500k worth of $DODO as initial deposit into the $oneDODO treasury;
• Provide $500k worth of $DODO to incentivize both $ICHI and $oneDODO pools on DODO DEX;
• Allow $oneDODO and $ICHI pools to be eligible for Super Booster mode based on market feedback and pool performance;
• Explore/drive new use-cases of Stable DODO including using it as the underlying USD denominated base asset for the DODO DEX as well as for IDOs.

Initial Treasury Management Rules:

• Initial Minting Ratio: 90% $USDC, 10% $DODO
• Treasury backed must be less than $50k at less than 150% treasury reserve ratio
• Supplied USDC may be used to provide $USDC-$oneDODO liquidity Governance Rewards to xICHI: 20% performance, 2% management
• Initial deposit loan may only be withdrawn from treasury to take one of two actions:
  1. Repay the loans (as long as treasury reserve ratio is met post withdrawal)
  2. Recapitalize the contract with USDC to maintain a 150% treasury reserve percentage.

Initial Quorum and Governance Guidelines: ICHI community governance at launch with co-Governance options TBD