Dodo Developer: Use The Graph to reduce operational and back-end stress

On May 18th, Autark, The development engineer of The decentralized trading platform Dodo team, visited The Gragh community for an AMA to explain Dodo and Subgraph in detail.

The Graph solves The problem of centralized data retrieval by building a decentralized blockchain data retrieval protocol. With The Graph, users don't have to rely on others to use The server, and developers can deploy data into a reliable common infrastructure that doesn't require management. Dodo, as a decentralized trading platform and liquidity provider, uses the ChainLink Predictor to feed prices and the PMM algorithm to smooth the trading curve.

In this AMA, Autark introduces The advantages of Dodo, and also discusses his views on The Graph and Dodo Subgraph.

The following is the content of the AMA:

The Graph: First of all, Autark would like to introduce himself and DODO? What is its vision and mission?

Autark: I'm a developer of Dodo and I'm glad to have The opportunity to talk about Subgraph and Dodo with my friends in The Gragh community. I am mainly responsible for the development of backend and contract end, and have more experience in the development and application of Subgraph.

Dodo is a decentralized exchange that uses the original PMM Active Market Maker algorithm to provide the best liquidity in the chain, and supports unilateral coinage and new asset issuance. Dodo also offers SmartTrade, a decentralized liquidity aggregator service that can find and intelligently route to a variety of liquidity sources to quote the best price between any two tokens. Dodo supports the on-chain of market making strategy of professional market makers, allowing custom asset ratio, curve slope, single placement depth, etc. In addition, DODO also supports the issuance of new assets. Anyone is allowed to conduct crowd preparation pool and has the ability to issue new assets at low cost.

The documentation on Dodo product features can be found in ourDocs.

The Graph: Can we continue with The background and story of The Dodo team?

Autark: The founding team of Dodo has been working on Defi for a long time, and many of the team members are highly qualified players in Defi.

Founder Lei Da Xiong has been working in DDEX, the earliest DEX team in China, as a technical developer and in charge of the liquidity business of the exchange since 2017, so he has a good understanding of the entire DEX market and liquidity. The partner was responsible for marketing and brand in DDEX for generations before. He was the earliest KOL to popularize science and preach DEFI in China, and also the founder of DEFI LABS. He has a better understanding of community and market construction.

Partner Wang Qi was the co-founder of DOS Network before, and also a core engineer of Oracle. He has a technical background and rich entrepreneurial experience. In the middle of last year, the founders started building a team based on the Radar Bear PMM algorithm that took Dodo step by step and expanded its rich product features.

At present, Dodo has deployed products on multiple chains, with a cumulative transaction volume of more than $10 billion. Welcome to use Dodo.

The Graph: So what's The difference or advantage of Dodo compared to Uniswap/Pancake or other decentralized trading platforms?

Autark: The biggest difference between Dodo and Uniswap lies in the algorithm innovation. Dodo uses the original PMM algorithm (Active Market Maker Algorithm) to completely change the AMM algorithm from the algorithmic level. It really makes on-chain market making possible, and the liquidity that is created is shared, and more importantly we have the most flexible new asset issuance capability.

Comparatively speaking, the advantages of PMM algorithm are as follows:

1) PMM has a higher utilization rate of funds.

2) The PMM allows for a single exposure.

3) A variety of market-making strategies can be applied to the PMM.

4) PMM is more suitable for new asset issuance.

In addition, Dodo has a number of new product features based on the active market maker algorithm, as well as support for more implementations of DeFi composability.

The first is a vehicle better suited to new asset issuance: the pool.

It allows anyone to create a crowdfunding pool in Dodo, offering a certain amount of tokens, specifying the unit price and the amount of tokens to be issued. Within a specified time, anyone can top up and subscribe. If a user subscribes to more than the token offering amount, the token amount is allocated according to the amount of money the user has topped up. After the end of the crowd-funding period, the public pool will be automatically established, and the crowd-funding price will be used as the opening price to immediately open the spot trading market.

Crowd-preparation pools are a way to allocate tokens of equal opportunity and kick-start a liquid market. With the additional security provided by the liquidity protection period, users can feel at ease to participate in liquidity issuance activities and actually support their favorite projects.

Another major feature of Dodo is the ability to customize flexible market making strategies on the chain. Anyone can issue any asset on Dodo, and there is no need for bilateral equal value matching. Anyone can make market in Dodo with any proportion of money. Secondly, the introduction of professional market makers on the chain, to provide better trading depth and slippery points. We've partnered with Wootrade and rolled out and practiced on BSC to provide better on-chain mobility with less capital. The performance of the PMM on the high-speed chain is also very good, Radar Bear in the above article has a detailed description, interested friends can go to see ha.

The Graph: Seeing Dodo progressing fast on The BSC as well, how many public chains are currently and planned to support?

Autark: Yes, we also saw a lot of energy in the BSC community after the launch. At present, Dodo has been deployed and launched on Ethereum mainnet, BSC and HECO. Polygon, Okexchain, Arbitrum, Moonbeam, and Avalanche are all in the process of research and docking. The Polygon product is almost ready to be deployed. The Dodo community is currently recruiting users to test Dodo products on Polygon. We will continue to investigate and connect more public chain and L2 support.

The Graph: So why did Dodo choose to use The Graph instead of developing their own set of tools? What do you see as The future trends for middleware like The Graph?

Autark: Let's first talk about what we're doing with The Graph.

Many of the Defi veterans who have been looking at the Uniswap Info page may not know that all the data on the Info page comes from a query on the Subgraph. In Dodo, we have increased The use scenario of Subgraph. In addition to Dashboard, we have used The Graph to support data query in many key business links such as personal trading data, personal market making data, index of The whole network Dodo trading pool, crowd preparation pool and so on.

A lot of data can be taken from the chain, and there are two problems:

1. Incomplete data, because basically everyone uses RPC nodes are not archive nodes.

2, the number of queries and query time will have a large consumption.

So back to why we choose to use The Graph, when there is no The Graph, we need to do this for these requirements:

1. Deploy archive nodes;

2. Developed a set of back-end services, analyzed and processed the transactions related to DODO smart contract in the node and stored the data;

3, drop the database data to provide external API query service.

First of all, this will increase the maintenance and development cost to a certain extent for the team, which is still considerable at present due to the support of multi-chain.

The second is about decentralization, where the data services are completely dependent on the stability of the Dodo team services. We did some research and testing on The stability of The Graph service before we launched it.

From The perspective of cost and decentralization, we chose The Graph, which significantly reduces The operational and back-end pressure.

The future of The Graph is bound to be more decentralized. I am looking forward to The next stage of The Graph. More indexers provide data indexing services, and accordingly we are willing to pay for high-quality indexer services.

The Graph is very detailed. Before, I noticed in The group that many non-technical friends had some questions about what value The Graph brought to The users of The project and why they didn't directly fetch The data by themselves. I believe your explanation can help us to have a deeper understanding of The details.

Autark: I have seen that the data of Dodo's Subgraph is very good, and I welcome you to participate in the curation of Dodo's Subgraph soon after the curation launch.

The Graph: How much does it cost to trade on Dodo now?

Autark: One is gas handling fee, because Dodo's intelligent routing will search for the optimal transaction path in the whole network to help users find the best transaction rate, so the transaction handling fee is related to the complexity of the transaction path. If it is a single DODO trading pool, the gas charge consumption is lower than that of UNISWAP trading pool.

We have spent a lot of time on the optimization of gas consumption of contracts, and we will continue to do gas optimization work in the future. After all, Ethereum is very valuable now, and we are willing to do more research and optimization to help users save some money.

The second is transaction fee, which depends on the setting of the trading pool. The rate of the stablecoin trading pool of Dodo is only 1/10,000, and even the rate of some of our trading pools is 0. Users do not need to consider the formalities and rate setting of the pool for front-end transactions of Dodo, because the intelligent routing of Dodo aggregates the liquidity of the whole network. Will give the user to find the best exchange rate trading path.

The Graph: We just talked about subgraphs. Can you tell us more about The subgraphs of Dodo? Do you plan to curate your own sub-images?

Autark: Since The launch of Dodo V2 at The end of last year, The Ethereum Subgraph has been hosted on The Graph, and has held up well during The peak times of our business, providing great support for indexing and querying our business data.

The support for high-speed chain is a headache for us at present, because The Graph's hosting support for BSC and Polygon often causes us to encounter data synchronization delay. We are also keeping in communication with The Graph team. Knowing that The Graph team is working on The synchronization of Hyperlink, we hope to get The solution online soon. We believe that The team can make Hyperlink's data indexing service as smooth as Ethereum's.

In addition, we have plans to curate our own Subgraph.

The Graph: We are also actively communicating with The BSC in The hope that they can solve their node problem as soon as possible so that The Graph's indexing service will not be affected. So why did Dodo, as one of The Graph's first mainnet migration partners, want to be one of The first users to migrate subgraphs? Many of the non-technical friends in the group are also skeptical about the performance of complete decentralization.

Autark: At first, we chose The Graph as The service of data indexing, and decentralization was also one of our considerations at that time. We were very willing to participate in The Graph's completely decentralized scheme and put forward our feelings in The process of using it, so as to assist The Graph's decentralized network to make iterative progress.

I don't think this concern is very necessary. The decentralization of The Graph is a process of moving forward step by step. We will consider The high-availability solution of data services ourselves.

In addition, I think the decentralized solution is also very competitive. A valuable Subgraph will compete with a more capable indexer, and the query fee will realize its value, while a good and stable indexer node can capture the value.

The Graph: I would also like to add, from test network of our own team to provide hosting services to decentralized provids has currently more than 170 excellent index node services, our founding team for decentralized main performance is very confident, believe that after the value of economic model and the role of each individual involved in value will be very good. Can you share with us what's next for Dodo?

Autark: The team has been focusing on the research and development of Dodo NFT products recently. The products are expected to meet with you in early June. Welcome to Dodo to play NFT then.

We are very willing to listen to the views of the community. We are currently voting on the new governance scheme of VDODO membership exit fee on Snapshot. Welcome to the Dodo community to participate in the discussion and vote.

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