DODO Partners With Nine Realms to Activate Liquidity Pool on THORChain
DODO is pleased to announce a new collaboration with Nine Realms, a team that partners with cryptocurrency project treasuries and large asset owners to integrate and manage liquidity pools on THORSwap, a cross-chain decentralized exchange (DEX) by THORChain.
The DODO team was able to list its token on THORSwap by working with Nine Realms’ team of crypto natives and security experts. Users of the THORChain protocol are now able to access DODO liquidity and swap for a host of other L1 and L2 cryptocurrencies. Additionally, liquidity providers can earn yield on their DODO by contributing to the DODO:RUNE liquidity pool on THORSwap (Pool APY as of July 6, 2021 is 25.63%).
Nine Realms brings institutional liquidity to THORChain by working directly with investors and treasuries to intelligently deploy assets paired against RUNE, the native token of the THORChain ecosystem.
This collaboration provides new opportunities for traders in the DeFi ecosystem to trade DODO and other crypto assets with deeper levels of liquidity than ever before, and creates new opportunities for liquidity providers to earn income on their assets.
DODO’s liquidity pool went live on THORChain on June 7th, following a recent liquidity cap raise (#RAISETHECAPS). DODO and Nine Realms plan to scale up liquidity as THORChain asset caps continue to be lifted.
Integration with Nine Realms is Key for DODO’s Cross-Chain Development
The DODO team believes that this collaboration with Nine Realms is an important next step in its journey toward a true cross-chain future.
“Nine Realms and DODO share the vision of a multi-chain future, which makes THORChain an ideal venue for this important collaboration,” said Michael Zinaman, a member of the Nine Realms founding team. “As an institutional-grade infrastructure provider for THORChain, Nine Realms is working with DODO to deploy assets on THORChain and manage the risks associated with providing deep liquidity. We’ve already staged and activated an initial pool together, and we look forward to actively growing this relationship as the pools mature.”
DODO Managing Director Diane Dai added, “DODO’s integration with Nine Realms is a crucial point in the continuation of DODO’s multi-chain strategy.”
“Making ample liquidity available to traders of DODO through this partnership with Nine Realms will greatly benefit the DODO ecosystem and community. We also know that this collaboration will bring a higher level of awareness and trading activity to DODO, which will, in turn, provide traders with access to liquidity across a more diverse set of assets.”
Diane further stated, “THORChain has consistently demonstrated its leadership as a connecting force in the DeFi world. DODO has full confidence that THORChain will have a prolific effect on the development of the DeFi space. We’re thrilled to combine efforts with Nine Realms to build a more accessible and user-friendly future for DeFi traders and investors.”
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