How to Launch an IDO on DuckDao
ICOs, or Initial Coin Offerings, exploded in popularity in 2017. In 2019, it was Initial Exchange Offerings (IEOs), where centralized cryptocurrency exchanges like Binance served as third-party springboards for new token offerings.
The rising DeFi sector has been decentralized exchanges (DEXes), upon which users can trade tokens 24/7 and in a non-custodial and permission-less fashion. DeFi or decentralized finance came as an idea to avoid control and the heavy hand of central banks by a group of crypto enthusiasts in 2017. They made an alternative solution to offer every financial service you need — savings, loans, trade, insurance, and others, all available through decentralized platforms and internet connection.
An IDO, or Initial DEX offering, is the latest way for crypto projects to sell their tokens to the public Last summer a decentralized blockchain/AI platform, announced that it will hold an Initial Dex Offering (IDO) on Binance DEX. We could say that IDO is a fundraising method that will enable protocols available for traders. IDO is different from other common fundraising schemes, and according to Binance, it can lead to a progressive revolution in the crypto arena. While ICOs and IEOs dominated crypto companies’ fundraising in the past, it seems that Initial DEX Offering is becoming the preferred method to distribute tokens and raise capital in DeFi.
What is a DuckDAO?
As the industry becomes increasingly legitimized by institutional adoption, we’ve seen the emergence of crypto launchpads like Poolz, Polkastarter, BSCPad, and plenty of new crypto projects opting to raise capital on these launchpads. Launchpads typically provide a safer and more accessible platform to raise funds, acting as a vetting process for new projects to project investors, while enabling the incubation of a community around these projects — creating a network effect between platform and project. One ofe them is DuckDAO.
According to their website, DuckDAO is a decentralized incubator that helps promising projects achieve their full potential by leveraging the investment power and buzz-making potential of our community.
“We aim to democratize access to investment opportunities that were previously available only to well-heeled investors and venture funds, opening up the closed ecosystem of early-stage crypto project investments to everybody” — said DuckDAO.
Participation in projects can be divided into three tiers:
Tier 1 (Incubation), where work is done on projects from the very beginning to the points listed on the exchange
Tier 2 (Strategic Contribution Level) in which DuckDAO assists with social media strategy projects, including Twitter and Telegram.
Tier 3 (General Contribution Level) where DuckDAO manages OTC sales and community requirements.
How does it work?
Now we will try to explain how does it work. The DuckDAO members are called Ducks. DuckDaoDime (DDIM) is DuckDAO token which they distribute to users who join their token-permissioned Telegram communities. Those tokens can be leveraged to access community tiers. To access each membership tier, Ducks need to hold at least a fixed minimum number of DDIM tokens in their MetaMask wallet. DDIM can be purchased on Uniswap or earned by participating in community events, such as interactive interviews (AMAs). Members in higher tiers have a larger personal cap.
Using a tiered system, DuckDAO gives holders of the DDIM token early access to private token sales. Moreover, DDIM holders can yield farm DUCK tokens, which offer allocations in DuckDAO’s public token sales. The DuckDAO community is highly engaged and committed to helping shape the future of the project.
Their token-permissioned membership groups are
The Duck Fightclub: 10 DDIM
Beach Club: 200 DDIM
Gentlemen’s Club (VIP): 2,500 DDIM
Diamond Club (VVIP): 10,000 DDIM
Duck Allstars Club: Top 10 DDIM holders per level
To become a member, simply press on the yellow Join DuckDAO buttons, where you will be redirected to DuckDAO Lobby and follow further instructions.
Since the Duck Liquidity Pool Token (DUCK) is earned as a distribution of market-making profits, Duck Farmers (those who contributed to the liquidity pool) share out of the profits paid out in stable coins. They will receive a share of 50% of the earnings from the Duck DAO market maker business. DUCKs are used to fund the DuckDAO market makers at the initial stage and also to launch its business operations.