Think about it: you start a crypto project, and want to get people to invest in your project. How do you handle that? That is also the question that the makers of other crypto projects have asked themselves. Because it is not that easy to let your project grow into a success.
Now crypto project creators have one place to go: DuckDAO. This platform helps starting crypto projects to grow. In this way DuckDAO hopes to contribute to our crypto world. In this article I will tell you what DuckDAO is, how it works and where you could buy the tokens.
- 1 What is DuckDAO?
- 2 How does DuckDAO work?
- 3 What is the decentralization option?
- 4 What is the Duck Liquidity Pool?
- 5 What if the token loses its value?
- 6 DuckDAO’s token
- 7 How can I buy DuckDAO (DLP) and DuckDaoDime (DDIM)?
- 8 The price of DLP and DDIM tokens
- 9 How do you store DLP and DDIM tokens?
- 10 Conclusion
What is DuckDAO?
DuckDAO is a digital asset incubator with the main goal of growing promising projects to their full potential. It is a decentralized and democratized platform that offers various income strategies to crypto investors. Moreover, it opens up various investment opportunities to the users of DuckDAO regardless of the size of their invested capital.
Decentralized Finance ( DeFi ) has created several opportunities previously unavailable to crypto investors. DeFi platforms are mainly built on the Ethereum blockchain , and a number of companies have used this technology in amazing ways. What makes DeFi so unique is the development of dApps that provide various transparent transaction methods for crypto enthusiasts.
Beginning crypto projects can turn to DuckDAO for help. Next, DuckDAO’s team helps start up and grow the crypto project.
How does DuckDAO work?
DuckDAO creates an environment that supports a healthy and sustainable relationship with its users and fair opportunities for them. This is in contrast to other platforms where large venture capitalists easily try to take advantage of small investors. DuckDAO supports the mutual growth of all projects and investors to create sustainable success for all.
DuckDAO does this in several steps, which are also referred to as the levels of DuckDAO. To properly understand the project, it is smart to take a look at which levels there are and what they entail. Subsequently, it will also be a lot easier to determine for yourself what you think of the operation of the DuckDAO platform.
Level 1 (Incubation Level)
At this level, the platform helps various projects from scratch until they are enrolled in an exchange. Such projects would benefit from the team’s advice, marketing input and other services. After all, DuckDAO has a lot of experience with this, as they have also been able to do this for many other projects.
When you start a new crypto project yourself, you prefer to be helped by a team with experience. And even better a team that has already made several projects successful. That is exactly what DuckDAO does. When they are registered on an exchange, they will move to the next level.
Level 2 (Strategic Contribution Level)
At this level, DuckDAO enables projects to leverage its influence on social media platforms such as Twitter. It is important for many crypto projects to get a lot of exposure. In this way, they become visible to the wider public, which increases the chance of adoption of the tokens and coins many times over.
Level 3 (General Contribution Level)
At this stage, the platform is not involved in the projects. They only handle OTC sales and community requests. With this, the DuckDAO team wants to take a number of tasks off the hands of the project, so that the team can fully focus on further developing the project. After all, that is also the reason why DuckDAO is doing this: they want other crypto projects to be able to develop further and increase the chance of success in this way.
DuckDAO has had a major impact on fundraising through their community-supported activities. There are already many projects that have benefited greatly from this. The number of projects is growing every day.
What is the decentralization option?
When DuckDAO interacts with projects, those projects assign tokens to DuckDAO users. These tokens are then shared with users who have joined the platform’s telegram communities.
The DuckDAO token (DuckDaoDime or DDIM) gives users access to the available community levels. This, in turn, provides them with many benefits. Access to each membership level can only be granted to Ducks who have at least a set minimum number of DDIM tokens in their wallets.
To access the Duck member groups, the requirements are as follows:
- Duck Fight Club: 10 DDIMs
- Beach Club: 200 DDI
- Gentlemen’s Club (VIP): 2,500 DDIM
- Diamond Club (VIP): 10,000 DDIM
- Duck Allstars Club: Top 10 DDIM
Ducks (DuckDAO members) can access DDIMs through community events or by purchasing them on Uniswap . Users are automatically removed from a group once their DDIM balance falls below the required amount. We will gladly tell you again in this article how you can obtain DDIMs yourself.
In addition, a larger percentage of the project allocation is distributed among the highest-level customers (Duck Allstars Club). DuckDAO in any case ensures a fair distribution of the allocation.
What is the Duck Liquidity Pool?
Duck Liquidity Pool , a product of DuckDAO, is named after the DuckDAO DeFi market maker . Users can deposit funds into DUCK-based liquidity pools via Uniswap and earn tokens via smart contract deployment. Therefore, LP tokens, received after deposits, can be wagered on the DUCK farm.
Stakes on the DUCK Farm gives users the opportunity to earn DUCK tokens and market maker rewards. When users contribute to the Duck cash pool, they are rewarded with Duck tokens. Duck participants can earn these tokens in several ways:
- Contribute to the DUCK liquidity pool on Uniswap
- NFT Rewards
- From the distribution of the rewards of the market makers
What if the token loses its value?
Since the Duck Liquidity Pool (DUCK) token is earned as a distribution of the trading profits, the duck producers (those who contributed to the liquidity pool) share in the profits that are paid out in stable coins . They will receive a 50% share of the profits from the Duck DAO market maker activity. The DUCKs are used to fund the DuckDAO market makers in the initial phase and also to launch the trading activities.
This system is based on deflation economics to prevent the DUCK token from losing its value. The one-sided burn means that yielding farmers will lose some of their money and never get it back. Ultimately, the returns they will earn from deploying liquidity pool tokens would be higher.
Part of the reward system for farmers who participate in the strike is the ability to earn multiple Duck tokens on peak weeks. A peak week is the time of year when farmers earn multiple Duck token rewards. There are three peak weeks in a year for each business pool, depending on the compensation model.
The function of the unilateral burn is to prevent the DUCK token from inflation, which occurs when high yields are paid out to farmers. When users leave the Duck Farm, the money is burned, reducing the supply of the DUCK token. All it takes to make the entire DuckDAO token system work deflationary is for one party to burn themselves on it.
Therefore, in order to prevent the DuckDAO token system from being depleted, the platform has proposed the ONE SIDE liquidity burn.
The tokens on DuckDAO are managed to create fair incentives for the community members. Exactly 80,000 tokens will be used as a reward for community members for
- Active engagement on social networks
- Participate in deals
- Interactions with projects at AMAs
Approximately 40,000 tokens will be awarded to the five Duck team members when a deal is deemed successful. They will also be rewarded when a deal is successfully completed. Thereafter, they will not be allocated more than the allocated quota and will then have to source from the market.
The 500,000 reserved tokens are at the mercy of the Allstars team because the chips are locked. To unlock them, more than half of the top ten people must vote for them. Moving to unlock chips is only allowed in one of these situations:
- Liquidity needed for a transaction
- The price of the token needs to be adjusted
- Liquidity needed to reward members
Depending on the demand, the Duck team may offer to use a portion of the 500,000 XNUMX tokens for a sale or drop.
Of the total supply of 100,000,000 DUCK, approximately 22% of the tokens mined are for sale to fund the DuckDAO liquidity pool, 70% are reserved and used as a reward for liquidity providers through performance farming, 7% of the operational tokens are locked in, while 1% is reserved for the core team.
How can I buy DuckDAO (DLP) and DuckDaoDime (DDIM)?
The DLP token and DDIM token are both available for purchase and exchange on a wide variety of cryptocurrency exchanges, including platforms such as Coinbase , Binance , CoinMerce , and Bitvavo , as well as the popular decentralized exchange Uniswap.
Despite the fact that it is for sale on many exchanges, it is not always wise to buy this on any arbitrary exchange. We recommend using Binance or Bitvavo. Why? Because these two crypto exchanges have high liquidity, which allows you to buy and sell DLP and DDIM for the best price. In addition, these two exchanges have already proven themselves in terms of security.
Of course it is also possible to buy DLP and DDIM on a decentralized crypto exchange , such as Uniswap or Sushiswap . However, this is not always wise. You have to go through many more steps when you use a DEX. This means that the chance of things going wrong is many times greater. So it is safer to opt for a centralized crypto exchange.
The price of DLP and DDIM tokens
When you consider investing in DuckDAO’s tokens, it is good to keep an eye on the price. This way you can determine when it is the best time to buy and sell the tokens. After all, you probably want to make as much profit as possible with your investment.
At the time of writing (May 2021), DLP tokens are worth an average of $0.3584. You can track the price of DLP tokens on CoinMarketcap’s.
How do you store DLP and DDIM tokens?
DuckDao runs on the Ethereum blockchain, which means that the DLP and DDIM tokens are ERC-20 tokens. You can store these tokens in almost any wallet, because most tokens use the ERC-20 protocol. You can easily and quickly store your tokens in the hot wallet of your crypto exchange. However, this is not always the best and safest choice. It is much more sensible to store your DLP and DDIM tokens in a cold wallet, also called a hardware wallet .
A hardware wallet is a USB stick where you can store crypto coins. Because you can disconnect a hardware wallet from the internet, it is much more secure than a hot wallet . When the wallet is not connected to a device, no internet connection is possible with the wallet. This makes it impossible for hackers to gain access to the hardware wallet. Of course you should then keep the hardware wallet at home. When you lose this, you also lose all tokens and coins that you have stored on it.
Many crypto investors are willing to bet on promising DeFi projects because of the explosive growth the space has experienced. DuckDAO is therefore one of the platforms that has brought liquidity mining to its peak by providing opportunities for both large VCs and small investors.
In addition, the DuckDAO liquidity pool model, which uses the “one-sided burn” mechanism, appears to offer a more unique approach to liquidity extraction. Because of this, it can be smart to invest money in DuckDAO. This is not advice, so always do your own research into the crypto coins you want to invest in.
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com