Arbitrum One is Live! DODO Carnival, Episode 3: Kakapo

DODO is now live on Arbitrum One — woohoo! The next step for DODO, as decided by the DIP-4 vote in July, is to transfer 5 million DODO tokens to the Arbitrum One for community rewards. This comes as the third part of our avian-themed DODO Carnival incentives series, known as the Kakapo program. The Kakapo plan will be accomplished with Classic Pool liquidity mining and trading rewards.

Part 1: Liquidity Mining

The following are the liquidity pools that were first available on DODO Ethereum in August 2020, and which will now be available on DODO Arbitrum:

• wBTC/USDC
• ETH/USDC
• USDT/USDC
• DODO/USDC (please note that trading rewards do not apply to this pool)

Liquidity providers (LPs) will receive DODO token rewards for their liquidity contributions to these pools.

From Blocknum #13150100 onwards (starting roughly 2:00 AM UTC / 10:00 AM SGT on Friday, September 3), 0.5 DODO tokens will be released per block per pair for the 4 trading pairs listed above. These tokens will be distributed uniformly over a 30-day period, meaning approximately 0.5 * 4 * 6,489 * 30 = 389,340 DODO tokens will be distributed to LPs per month. These LP reward tokens will not be subject to any lockup or vesting schedules. Users will need to claim these rewards when they wish to.

The wBTC/USDC, ETH/USDC, and USDT/USDC pools are single-sided, meaning that liquidity rewards per block are split evenly (e.g. 0.25 DODO/block for wBTC and 0.25 DODO/block for USDC for wBTC/USDC).

DODO/USDC is a DODO Vending Machine (DVM) pool that requires liquidity to be deposited and withdrawn in equal value (50/50) on both sides.

Depending on various platform performance metrics, subsequent liquidity incentives may be adjusted with notice given.

Part 2: Trading Rewards

A total of 10,000 DODO tokens will be up for grabs for traders each day under the following structure:

• Any wallet address is eligible for these trading rewards, with a minimum trade amount of $100 per transaction in order to qualify
• Each eligible trade qualifies for 2 DODO tokens in trading rewards
• The maximum value of rewards per day is capped at 125 DODO tokens per day per eligible address
• Wash trading, bot interference, and other suspicious and/or exploitative activities will not be tolerated and will be extensively monitored

Trading rewards are subject to a 90-day vesting schedule and the tokens will be linearly released on a per-block basis. Rewards will be distributed on a monthly basis to eligible and qualifying addresses, and each distribution will be announced via DODO’s social channels. Users will need to claim these rewards when they wish to.

The trading rewards program will be reviewed on a weekly basis, and various platform performance metrics will be taken into account for any further adjustments made.

Please note that trading rewards do not apply to the DODO/USDC trading pair, but vDODO holders will enjoy an additional boost to their trading rewards earn rate.

The vDODO Boost details are as follows:

• No vDODO: 1x
• Less than 10 vDODO: 1.05x
• 10–50 vDODO: 1.15x
• 50–100 vDODO: 1.25x
• 100–200 vDODO: 1.35x
• 200 vDODO+: 1.4x

Once again, welcome to DODO on Arbitrum! Enjoy the carnival and…

#JustDODOIt

Welcome to the DODO Zoo!

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