An Update on Duck Dao, The Most Prominent Community Powered Crypto Incubator
Who will win? One VC or 1000 Ducks? QUACK QUACK QUACK! Duck DAO has been incubating and launching projects at a rapid pace while offering some ‘QUACK-taculous’ (too much?) services. Through Duck DAO, users have several options for services, including DuckSTARTER (DUCK), DuckBRIDGE, DuckFARM, DuckSTAKING, DuckHUNTERS and the DuckSTORE.
Cryptocurrency is decentralizing the venture capitalist process by giving incredible early stage investment opportunities to everyday people like you and me. The Duck Dao team created the term ‘incubation’ (Get where the Duck comes from now?) and have become experts on sorting through piles of projects and picking what we like to call gems. What is really sweet is that the Duck Dao community gets the opportunity to fund these project pre-IDO instead of a few VCs that make a bunch of promises only to walk away once they made their gains. Incubators are different from launchpads. The DDIM token provides community members access to pre-sales via the Duck Dao incubator. Pre-sales include a certain number of tokens at a price that is lower than the IDO price (aka token price at launch or TGE — Token Generation Event). Pre-sale allocation, or sometimes even seed-round allocation, is an amazing opportunity for any investor especially given the caliber of projects that Duck Dao brings in. This allocation comes with vesting terms and is distributed to DDIM holders. Projects that are incubated with Duck Dao not only receive funding from large and passionate community, but they may support with market, advisory and listing services to catapult the project to success. Check out the list of projects Duck DAO has incubated in less than a year:
The Duck DAO team created the launchpad Duckstarter (DUCK) to give their existing and new community members another option for getting in top tier projects early. The same caliber of research but this time for the IDO platform, DuckSTARTER. We will briefly cover cover the launchpad including the enhancements to the launchpad that the Duck Dao team recently made to the already uber-successful DuckSTARTER.
DuckSTARTER is a pioneer in the launchpad industry and is a household name in Crypto. They have launched many successful projects such as Shadows Network, L.A.B.S, TotemFi and ARES Protocol. Most recently, Duck DAO has made updates to the DuckSTARTER platform that will benefit the community and increase the opportunity for all users to gain access to the IDOs of top tier projects.
DuckSTARTER in an “Egg Shell”
DuckSTARTER provides access to IDOs on Ethereum and Binance Smart Chain blockchains through DuckBRIDGE which provides the community with the ability to bridge tokens between Binance Smart Chain and Ethereum Network. This gets me excited as not only is the team at Duck Dao pioneering the way for incubators and launchpads in the crypto space, but they are not limited to one blockchain. As I think about the hottest blockchains that are just around the corner, I can only imagine the Duck DAO team adding more services to DuckBRIDGE.
Back to DuckSTARTER… There is a quick whitelist process for each IDO and whitelisted participants have the opportunity to contribute USDC towards IDOs through a First-Come-First-Serve (FCFS) process. The Team at DUCK adapted the FCFS model to a batch-lottery system for projects launching on Ethereum to help save the community from paying high gas fees. This model includes 3 batches where users in the first batch have a very high chance to participate at normal gas costs, the second batch has a medium chance, and the third and final batch has low chances of successfully claiming a spot. On BSC, it is strictly FCFS where users compete to be the first ones to complete a transaction to claim their spot in the offering. Users only compete with other users in their tier.
In DuckSTARTER, KYC is only required once for all IDOs. Each user stakes their DUCK and depending on how much is stake will depend on their tier. The higher the tier, the more opportunity for higher amounts of allocation. Most recently, the CHAMPION tier, was added. The CHAMPION tier is the highest tier and the only tier with guaranteed allo. Guaranteed allo in all DuckSTARTER IDOs requires 100k staked DUCK and is the only tier where no whitelisting is needed.
Here is a list of all of the tiers on the DuckSTARTER platform:
· Tier 0–0 DUCK
· Bronze — 2,000 DUCK
· Silver — 5,000 DUCK
· Gold — 10,000 DUCK
· Platinum — 20,000 DUCK
· Champion — 100,000 DUCK
Upcoming Points System
The team at DuckSTARTER created a FCFS model that provided everyone with a fair chance to contribute to IDOs. The Ethereum Network posed issues with this model as gas fees increased and gas wars got aggressive between community members. To adapt to the new challenges of an expensive Ethereum Network and a high amount of DUCK holders, a batch-lottery system was implemented. Lotteries involved luck. Some get lucky, and others not so much. Some people have been very lucky and gained access to many 1st and 2nd batches while others not so much. So, the Duck Dao team is adapting and modifying this model to level the playing field for users. They have implemented a Points System that is designed to increase the odds of getting into batch 1 and 2 in the next IDOs for the DUCK holders that missed out on the previous ones. DUCK holders that end up in Batch 3 in future IDOs will have better chances for batch 1 or 2 in future IDOs.
The lottery process works like this… When you end up in Batch 3 you get 1 point. The more points you have the more chance you get for getting into batch 2 and batch 1. Everyone will get a chance to be in batch 1 now. People that were in batch 1 will lose 85% of their points. People will always see how likely they will get into batch 1 or 2 in the form of a percentage. After missing IDOs eventually the chances of batch 1 or 2 will be 100%. This change will not only benefit current holders but future holders as well, and take the bad luck out of the equation. A more detailed explanation will be announced soon by the Duck Dao team.
The Elephant in the Room
We may be wondering if Duck Dao is such a powerhouse as an incubator and launchpad for top tier projects, why have the DDIM and DUCK tokens fell in price. Without going to much into price talk, we need to understand that market conditions change. There is a lot of fear and FUD in the entire market and as a result, people leave their positions. It’s never been more clear as nearly a $1 trillion left the market. As we have seen time and time again, this to will pass and the focus will return to new top tier projects. When the market shifts back and FOMO kicks in, you want to be positioned in top tier projects that give you access to top tier projects. It’s a no-brainer. Cryptocurrency is here to stay and Duck Dao will continue to be a contender as an incubator and a launchpad.
Till the next Medium, you’re on your own!
Till the next Medium, you’re on your own!
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