The Duckies Reward Platform 101: The First AMA about DUCKIES
The Duckies Platform is gaining momentum! In less than a few weeks we’ve attracted almost 200K $DUCKIES holders & more than 0.5M of successful wallet connections.
Our first Duckies AMA was held on Saturday, Oct 1st, to present the whitepaper and answer questions from the community. Find the transcript of the project intro along with the answers to the most frequent topics down below.
Watch the full recording of the AMA session on our YouTube channel:
For those who missed the AMA — there are more AMAs coming!
Join our Telegram announcements channel to be notified about next events: https://t.me/yellow_announcements
Presenting the Duckies Platform | Whitepaper overview
The Duckies platform is an NFT and token-based ecosystem, a 100% community-driven growth tool. $DUCKIES are essentially crypto reward tokens that are obtained by completing various quests and contests. Some of you have already won a few thousand $DUCKIES and, of course, you had an opportunity to gain more by inviting friends.
Apart from collecting $DUCKIES, community members will have the ability to contribute to the development of Yellow-related projects, introduce their own ideas, select those ideas to implement by voting, and help grow the Duckies universe.
$DUCKIES Supply
With Duckies, we decided to go with simplicity, so our tokemonics is actually just two lines long.
Unlike other projects, the team and founders have 0 (zero, nada) tokens allocated to them, and 100% of the tokens are used strictly for the benefit of people.
80% of $DUCKIES are used to reward the community. It is a mechanism to attract more and more users to the platform, as you mint tokens only when you’re finishing up any kind of quest (or your team finishes them up!)
20% of $DUCKIES are allocated to marketing and partnership activities. When we’re talking marketing, we mostly mean advertising, airdrops, content marketing, partnerships, joint activities, and exclusive events with different communities.
Another important thing — DUCKIES is going to be a multi-chain token. For now, we are looking to have a target supply of 100B per each chain (among confirmed: Polygon, Ethereum & Binance Smart Chain.) So, the more you mint, the more supply is getting unlocked.
Right now, the platform is in soft launch on the Polygon chain and will soon launch on Ethereum and Binance Smart Chain. As you all know, Yellow’s philosophy is against bridges, so we will also test our technology with Duckies, and you’ll be able to experience cross-chain via the Yellow Network protocol solution.
$DUCKIES Quests & Referral Program
There are tons of opportunities to get your hands on some tokens by fulfilling various quests on the platform. In October, more social quests will be available, and then, in November, users will be able to contribute to the development of the yellow.com portal.
The Referral Program is extremely essential for the platform. The more people you invite to your team, the more rewards you can generate. You can also claim bonuses from the quest your team members complete.
$DUCKIES Supply Balancing: Commission Payout Halving
As mentioned above, the main idea of the token is to have it minted by claiming referral rewards. However, we need to balance our tokenomics, and the best way to do it is to implement a payout halving. It happens at 50%, 75%, 87.5%, and so on — in a way that payouts are getting cut in half, the higher the number of tokens minted gets.
The marketing allocation is also subject to halving and will be distributed linearly throughout 2 years, starting November 2022.
$DUCKIES Supply Balancing: NFTs Burn
The next mechanism that we use is called the NFTs burn. When you send a request to a smart contract to mint NFTs, a certain part of the tokens gets burned. This also controls and limits the supply.
Remember, $DUCKIES are a GAME, a gamble, and nothing is guaranteed, so don’t save your retirement money on it — have some fun instead😜
Duckies NFT Series
In order to create our cutest Duckies NFTs, we have collaborated with some truly gifted artists, and we plan to release limited collections starting in the Q4 of 2022. These NFTs will be available to be resold, transferred, gifted, or swapped, and give you special powers on our platform.
Burn-to-Redeem Algorithm
The burn-to-redeem algorithm is another control mechanism that we use to have the prices of NFTs redeemed depending on several conditions, including the supply of the tokens and the current growth. This way we’ll be able to balance out the price & supply and have an equilibrium as a result.
Magic Duckies NFTs Powers
We feel like NFTs are misunderstood. They are so much more than tradable digital art, they are unique programs that are ownable, transferable, and can give you unique abilities inside the Duckies platform.
There are a few truly valuable NFTs that hold magic powers: for example, the ability to burn tokens from a targeted account, freeze some tokens for several for a certain period of time, clone or steal an NFT of your choice, or protect your wallet from being drained.
And remember, the more you mint, the more you have control over the game.
The Duckies Platform Growth Strategy
A little bit about our growth strategy and how we are planning to encourage the growth of the community further.
The plan here is to, first of all, have quite a few partnerships with prominent influencers and communities with other big MEME tokens. We are gonna hold tons of joined activities together, and have already announced our first partnership.
There are going to be exclusive events held that are available only to the holders of those tokens and, of course, $DUCKIES as well. Those tokens are subjected to a two-year vesting period as mentioned before.
How DUCKIES and Yellow Network are related?
It’s important to answer the concerns of the community related to the $YELLOW token and Yellow Network.
First of all, when you’re launching a token to become listed on a large exchange as we will be, it is absolutely necessary to have a huge and vibrant community.
We’re talking about hundreds of thousands of community members, and our strategy is to create a wide Ambassador Program through Duckies. Thus, Duckies are a community-building tool for Yellow Network.
Let’s just say from the get-go, we highly disagree with the idea that Duckies drag away attention from Yellow because they help us fulfill the requirement of having a big community for the successful launch of the $YELLOW token.
Apart from that, Duckies are also going to demonstrate the capabilities of what Yellow Network can do, first of all, our take on solving the bridging problem (as explained in our whitepaper.)
Duckies Community FAQ
Is there any plan to have a Yellow IDO allocation for $DUCKIES holders?
Yes. So, there will be a swapping pool where $DUCKIES holders will be able to swap them for $YELLOW tokens. We might also have a special NFT collection for $YELLOW holders as well and for our long-term community supporters.
Currently, $DUCKIES are only on the Polygon chain with a target supply of 100B. But how will the reward reductions be controlled when $DUCKIES are released on more chains?
As we stated before, we are planning to run on multiple EVM-supported blockchains. They will work independently from each other, although the algorithm on all the chains will be pretty much the same. Answering the question, the 50B threshold is the first point of having on every chain separately.
Duckies can be exchanged for $YELLOW and NFTs in the near future, but will simply holding $DUCKIES also give benefits? Will there be some possibility to stake or farm them?
We really invite early adopters to take part in the Duckies platform because we will introduce a DAO, a distributed organization with its goal to set the parameters, for example, changing the halving period, changing payouts or bounty amounts, or creating/adding new NFT cards, etc.
Another reason why you would want to stack $DUCKIES is to have governance power over the community.
Are you planning to advertise Duckies to the big public, and if yes, which types of advertisement are you considering?
Considering the fact that we are currently in a soft launch phase, we are actually already overperforming. However, we are already talking to other communities, and such partnerships are to be the main growth channel for us.
Are we planning to advertise in other communities? Yes, sure. Even communities that are not named as our official partners are still gonna be pretty much infiltrated with Duckies.
Apart from that, we are launching a very massive and truly viral campaign on Twitter to boost our community growth.
Will there be any special benefits for OG roles, early Yellow and Duckies supporters and holders?
Apart from the existing benefits we will implement exclusive channels and events available for people who hold special roles. There will be plenty of activities for long-term supporters that will be introduced a bit later.
Can we expect more utilities for Duckies in the future?
We are planning to be a fully community-driven project, therefore, we will implement many more utilities for the token, including voting, quests, various interactions between user accounts.
Besides, there will also be special utilities available on the Yellow-related projects such as yellow.com as we are creating the community portal there as well.
How do you intend to stop people who take advantage of earning more Duckies by creating multiple accounts using the same API?
To mention this once again, $DUCKIES tokens are to be for real people only, so we are doing our best to avoid fraud and botnets whatsoever. There are a couple of algorithms that we use inside our database where we compare patterns and identify linked accounts such as identity recognition and bot banning system. Besides, we are planning to add several more integrations in the nearest future that will help us gain more confidence in the liveness of our holders.
As for future activities, do you also have any plans for an online merge store or marketplace?
Yes, this is something that is currently in development. We are already producing some rubber ducks, and their design is pretty much insane. You’re gonna have a square duck which is floating, can you imagine? There will also be some Duckies-related merch as well as Yellow Network merch.
As $DUCKIES are in extreme inflation at the moment, since the majority of them are given out for free, is there any plan to reward or protect the true supporters and long-term builders? In other terms, are there any benefits for the Yellow supporters who hold the token, to be able to expect something others than just the rise in dollar value?
It’s very important to understand that there is a number of set programs aimed at rewarding the community members who are adding the most value by truly contributing to the platform.
When Duckies will be updated on CoinMarketCap or added to CoinGecko?
Soon (October 2022!) Our team is actively working on this. We just need to finalize a few things and, they will probably be available there in the next couple of weeks.
Join the awesome Yellow community to stay in the loop of upcoming announcements about $DUCKIES and learn more about the project:
Follow Yellow Twitter: https://twitter.com/Yellow
Join Yellow Telegram: https://t.me/yellow_org
Check out Yellow Discord: https://discord.com/invite/DKBjCg6rmT
Stay tuned for more Yellow & Duckies Platform partnership news!
About Duckies Platform
The Duckies Platform is an NFT and token-based reward community ecosystem. Its currency is $DUCKIES — the fun and friendly Web3 token. On the website, the community can claim free rewards, invite friends, and grow stacks as well as exchange $DUCKIES for incredible prizes.
About Yellow
Yellow is a global ecosystem of blockchain products & services for Web3 Internet of Finance, providing startup seed funding, mentorship, advisory, data analytics, market making, and fintech software solutions.
Yellow also provides developer tools, services, and education programs worldwide for blockchain infrastructure developers and crypto brokerage businesses.
Press Contact: press@yellow.com
