Duke x Satoshi Club AMA Recap from 7th of June
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Duke and our guests were @dontoshi1 @RL789. The AMA took place on 7 June.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club community! We conclude our today’s AMA marathon series with Duke. Today our guests are @dontoshi1 @RL789 !
Hello and welcome to Satoshi Club, @dontoshi1 @RL789!
Glad to be here
Andrés M. | Satoshi Club: [
REHAN: Hope everyone is doing well
Gold Rocket | Satoshi Club: How are you doing?
Andrés M. | Satoshi Club: Yes we are
So excited for this AMA session.
REHAN: Tired but cant complain. Work first
Gold Rocket | Satoshi Club: Strong crypto people
Andrés M. | Satoshi Club: Hello REHAN, nice to meet you
Gold Rocket | Satoshi Club: Thanks again for joining
Gold Rocket | Satoshi Club: Let’s start!
Introduce yourself please. How did you get to be involved in crypto & Duke?
Tell us please about your position Duke?
Andrés M. | Satoshi Club: Gracias a ti
Gold Rocket | Satoshi Club: Oh! do you guys know each other?
Andrés M. | Satoshi Club: No haha, I would like
Gold Rocket | Satoshi Club: then there is a great excuse to meet
Andrés M. | Satoshi Club: For sure, is great to have important personalities with us
REHAN: Well I first found out about Bitcoin back in 2014. But back then my country made it illegal to hold btc or any crypto so I didnt buy any. Tried mining some coins but didnt have the proper equipment of gpus for that. With my business taking most of my time I put crypto on hold and went about my work. Things change in 2017 and like most of us I fomoed into lots of coins at high prices. 2018 came and with it bear market. But I was hooked. Didnt make any money, well lost a lot of money but started educating myself and learning about different projects and blockchains and crypto related technology. I traded forex and commodities since 2006 so it is was not really difficult. I am the Strategic Advisor for Duke as well FastSwap. But more than an advisor I am full time in it over the last 9 months or so. Like the Tokenomics and pools rewards are done by me as well
Gold Rocket | Satoshi Club: thank you very much for sharing
these stories are priceless!
REHAN: btw to everyone following, @dontoshi1 is the founder of FastSwap & Duke
Gold Rocket | Satoshi Club: What is the essence of Duke?
Andrés M. | Satoshi Club: Thanks for the history, very interesting
REHAN: As you know there are multiple meme tokens launching every day. With all due respect to them apart from marketing there is nothing much else. Well not all, once in a while, some gems do appear. However every meme token have amazing community. They believe in it. We wanted Duke to be a meme token while having utility and sustainability beyond few weeks. Long term growth and usability is our main focus
Gold Rocket | Satoshi Club: Also we would like to know about your team. Who is on the project team core?
Andrés M. | Satoshi Club: Why did you choose DUKE INU as your name and symbol?
REHAN: To be unique. Duke. The name just stands out. From a brand perspective it is amazing. And full credits to Dontoshi. He came up with it. It is a really good name
Andrés M. | Satoshi Club: I agree with that, powerful name
Andrés M. | Satoshi Club: So, please tell us how is team conformed
After that we will proceed with our community questions
REHAN: There is Dontoshi & I. Suhail is our marketing head. We have two teams handling different networks; Ethereum & Binance Smart Chain. We have 5 full time devs, UI/UX team & marketing team. We are morphing the two teams into one and hiring more devs. If anyone is a senior blockchain dev please send me your resume. We always have space for top devs. Team is spread out globally so lots of different time zones lol
Andrés M. | Satoshi Club: A great opportunity to be have of a strong project. Thanks for share it Rehan
Andrés M. | Satoshi Club: Time to go with our community questions.
Q1 from Telegram User @Jonahapagu
In your Tokenomics, 100 billion DUKE tokens which represents abut 10% of the total supply was allocated as incentives to your Ecosystem products, 50 billion was allocated as incentives for dApps across chains.. So apart from the launchspot and Vaults what other products do you intend to build in your Ecosytem or will all the 100 Billion go for this two products, and apart from this two products what dApps do you have across chains that the 50 Billion allocation will be used for
Gold Rocket | Satoshi Club: Thanks for the introduction, we will have a question selected for the Part 1. ready to start?
REHAN: We will have Yield farming, Staking, IDO Participation & Vaults (lending protocol). 30% of the total supply will be used for liquidity incentives. 10% will be used for incentives in our ecosystem such as monthly rewards to holders, stakers & FastSwap users. 5% for dapps is incentives to onboard different projects
Andrés M. | Satoshi Club: What is the APR for staking?
REHAN: Depends. Our first batch of pools will have 400% — 700%. At launch early farmers will enjoy up to 1200%. Of course as all farms yield goes down the more holders have staked. But it will easily be above 400%
Gold Rocket | Satoshi Club: Sounds great
Andrés M. | Satoshi Club: Wow, high percentage, great opportunity for holders
REHAN: Absolutely! Holders will be rewarded massively
Andrés M. | Satoshi Club: Thank for the answer, ready to proceed with the next question?
REHAN: Let’s go
Q2 from Telegram User @antoni_azx
You mention on your website a Vaults feature that aims to help the users to manage and optimize their funds across procotols like AAVE, Compound, etc. What kind of optimization are you talking about and what are the benefits of using your feature and not other?
REHAN: Yes, we will build a protocol that will allow investors to manage and optimize their fund with the highest yield between Aave, compound and other protocols in one dashboard through smart contract. Optimized to make money for you effortlessly through the best protocols every minute. On top of the yield you will be earning there will be extra bonus of Duke
Andrés M. | Satoshi Club: What are the ways to buy your token?
REHAN: You can buy from FastSwap or Pancakeswap
Gold Rocket | Satoshi Club: Please tell us more about extra bonus of Duke
REHAN: We will be rewarding holders that use our ecosystem products with Duke. Think of it as cherry on top haha
Andrés M. | Satoshi Club: But it will be listed on more exchanges soon, right? Our next question talks about it, let’s proceed
REHAN: Yes it will be!
Q3 from Telegram User @Asela1112
$DUKE will be soon on FastSwap, Uniswap, pancakeswap & SushiSwap pools in future. So what are the pairs that can use for staking? How do we paricipate in staking mechanism of Duke inu? Most of platforms integrate mechanism which allow some percentage from transaction fee to the pools & locked for a specific time. Is there Autonomous mechanism, conventional for only Duke inu Inu platform? Which strategies will you launch to increase the liquidity without affecting on volatility of $DUKE?
REHAN: We have already designed the pools & rewards structure that we will be introducing. Emissions will be in check while maintaining juicy APY. To begin with we will be introducing 10 pools as the first batch. All farming will be done on FastSwap (audited). All 10 pools will have Duke as base pair. You can check out https://fastswap.finance. Our farms have high APY, easy staking. There will be no fees, no penalty for early withdrawal and no lock.
Gold Rocket | Satoshi Club: It is very tempting
REHAN: I cant wait to share with the community. It is gonna be awesome
Andrés M. | Satoshi Club: Which was the results of the audit, any important problem found?
REHAN: All clear. We wouldn’t keep the farms live if there was any issues. Audit results can be found on Solidity website
Gold Rocket | Satoshi Club: Thank you very much for your answers! Ready for the next question?
Q4 from Telegram User @Brainchest
You mentioned AAVE, Compound on the website. These are very serious players and I couldn’t not ask a question.
Are you planning to create a Vault for the Lending\Borrowing service in partnership with AAVE, Compound, e.t.c.?
Please tell us more about how the bonus will be credited in DUKE tokens.
How will you manage the funds? Will you lend money, which we will transfer to farming?
REHAN: Our lending and borrowing vaults will tap into open source which Aave and Comp protocol is built on. So we don’t need to partner with them to call functions from their protocols. Just like how YFI moves investors’ funds in between the protocols based on the protocols with the best yields to maximize their earnings across all protocols. The advantage of this vault is that it will work for you and make you money while you are sleeping
Vaults will be seperate from farms
Gold Rocket | Satoshi Club: This is a dream. Sleep and make money
Andrés M. | Satoshi Club: Yes, a great option for holders.
Gold Rocket | Satoshi Club: Will you lend money, which we will transfer to farming?
REHAN: Honestly once you are a farmer nothing else can beat it. Savings in banks are things of the past. The future is only DeFi. There is private pool already started for banks and institutions on Aave. The future is limitless
Andrés M. | Satoshi Club: I agree with that my friend, that’s the financial future.
Well, time to proceed with the 5th question, would you like to add something before?
Gold Rocket | Satoshi Club: Thank you very much for your answers and clarifications.
Let’s proceed to the next question
Q5 from Telegram User @andrey_seleznov
Duke is going to be available in multiple pools such as FastSwap, Uniswap, Pancakeswap, Sushiswap.. This implies that you will have both BEP-20 and ERC-20 tokens in circulation. Will they have the same token address in both bsc and eth chains? Are you going to expand to other layer1 or layer 2 chains in the future to get a bigger exposure and increase user adoption? Thank you!
REHAN: FastSwap is available on both Ethereum network as well as Binance smart chain. Duke already have liquidity on FastSwap & Pancakeswap. The token address is the same. Duke for the immediate short term will be on BSC while we are work on Polygon integration. L2 is something we will be focusing on after we are live with LaunchSpot (IDO Participation). We expect more bridges to be built to move tokens from one network to another. Already few are doing a great job, like multichain.xyz
Andrés M. | Satoshi Club: It seems great events are coming for Duke Inu, could you share us your roadmap? What you consider is the major event coming for Duke Inu into the second half of 2021?
Gold Rocket | Satoshi Club: it is quite obvious that the more cross-chain bridges, the more opportunities
REHAN: Yield farming, staking, IDO Participation, Vault, L2. This is the roll out roadmap. We are nearly done with LaunchSpot UI/UX design and back end. Our target is early Q3 for this. So it is around the corner. It helps to have a big talented team. We can keep development on going without any obstacles
On top of this we are constantly looking into ways to further develop our DEXes. Limit orders are next for our DEX
Andrés M. | Satoshi Club: Congratulations, it sounds like a lot of hard job for you. Don’t forget to share the announcements of your coming events with our community
REHAN: Thanks. And I will absolutely do that
Andrés M. | Satoshi Club: Thanks for the clarification. Ready to go with the final question of this first part of the AMA?
Q6 from Telegram User @victorogb
As a community driven meme token, DUKE should have some form of community developed governance system, that allows the active participation and administration of the DUKE ecosystem. Though been fully developed and supported by FastSwap, how will DUKE aim to be fully decentralised and community driven, and what would be some of the unique governance privileges available to early adopters, community members and strategic investors?
REHAN: Duke is completely community owned and fully decentralised. If you look at our holders list you will see that top holders are holding less than 1% of total supply. There was no presale, and it was a fair launch. We posted the contract and launch time days in advance. Equal buying opportunity for all. As for development, the team have a plan and roadmap that we are following. We want efficient execution. By managing the development and products roll out we are able to do that. It has been one week since we launched. In this one week we have held 3 AMAs, confirmed 3 exchange listings (listed on one already), grew by nearly 9000 diamond hand holders & did volume of approximate $30 million. We are in talks with 4 more exchanges (news soon) and we have increased our marketing efforts. We are just getting started. Imagine where Duke will be in one month’s time
Great job encouraging your community. Btw, are you planning some community contests like meme campaigns or airdrops?
REHAN: Yes we will be
Let me clarify. No airdrops but contests. We have 4% of marketing budget. We must make sure we get the most value out of it. Duke is earned not given for free
Andrés M. | Satoshi Club: That’s great, another great reason to be part of your community. Please share with us the link to join your communities
Gold Rocket | Satoshi Club: Thank you so much for these great answers and clarifications.
REHAN: @duketokencom @fastswapdex @dukechinese (We have an amazing and very supportive Chinese community!)
Gold Rocket | Satoshi Club: Now get ready for the most impressive part of our AMA! Live questions! It will be very powerful!
Part 2 — live questions from the Telegram community
Q1 from telegram username @messilolz
@RL789 what exchange is the best to buy $DUKE fastswap or pancakeswap? Are the price same in both exchange? Please provide me the link to buy or any plan to list on CEX too?
REHAN: FastSwap. I am always going to recommend FastSwap first. The price is the same on both exchanges
Q2 from telegram username @@ismu45
Without proper capital and marketing infusion,any project dies.How do you convince us that you have adequate capital and marketing power to push your project to the top ?
REHAN: We bootstrapped the initial liquidity, development and marketing ourselves. Duke is developed by FastSwap. Check out fastswap.finance & fastswap.exchange. We have the team and the ecosystem to make sure Duke growth is long term
Q3 from telegram username @Antoni_azx
In the last month I have lost count of how many meme tokens I have seen with meme dogs, could you tell me why I should buy DUKE and not any other meme coin? What are the advantages of $ DUKE over the rest of the coins?
REHAN: It is the first meme token with utility and underlying products. Look at what we have achieved in one week. Can you say the same for any other meme token?
Q4 from telegram username @doithay1617
@RL789 You said: “can buy from FastSwap or Pancakeswap”. Can I buy $DUKE in LBank Exchange? Or is it Fake?
REHAN: You can buy from LBank. 8 June we are live on XT & 9 June we are live on Coinsbit. We are aiming for more exchanges
Q5 from telegram username @Chinthaka93
You have mentioned that “We have burnt 10%! of Circulating Supply” this is a big amount relatively for burning, Is your token supply fixed or unlimited? What is the token supply? Could you please share more details with us? @dontoshi1 @RL789
REHAN: Supply is fixed. Max supply 1,000,000,000,000. Circulating supply last week including marketing funds was 540,000,000,000. We have already burnt more than 10% of circulating supply. Current csupply <490,000,000,000 https://www.bscscan.com/token/0xaee234825dc4687fae606485c1ebd06336052bcc?a=0x000000000000000000000000000000000000dead
Q6 from telegram username @Ratash97
Can you explain to us the launchspot mechanism ?
REHAN: Sure. Stake Duke and participate in IDO on LaunchSpot. There will be different tiers and the lowest tier will have very low requirement. We want to give opportunity to as many holders as possible
Q7 from telegram username @Eisen_7
will the price on ETH and BSC be the same?
REHAN: Yes it will be
Q8 from telegram username @JasmineSha
What is the Highest APY in Duke? and for what pair?
REHAN: The highest daily rewards will be for DUKE/BNB & DUKE/FAST
Q 9 from telegram username @Einsteinyl
From Duke Inu telegram announcement, I read that Duke Inu just burn around 7% from circulating supply in less than 1 day, well thats really big burn, but how does the calculation to reach 7% burn in one day? Does it random burn or Duke Inu have scheduled time to burn? How does your burn system work?
REHAN: Every transactions burns 1%. 1% of every transaction goes to holders. Till date the smart contract have distributed 53 billions among holders. I know of someone (a community member) whose balance increased more than 20% just by holding. Our burn mechanism is fair and can be sustained long term
Q10 from telegram username @SPAZEEEE
What is the minimum purchase of $Duke tokens?
REHAN: Any amount you want. There is no minimum. The main reason we launched on BSC is so that anyone can buy irrespective of the amount. For $10 purchase you don’t need to spend $200 on transaction costs. It will cost you few cents
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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