We are thrilled to announce our latest partnership with EtherMail, a revolutionary Web 3 Email Solution, aimed at revolutionizing communication with our token holders. This strategic partnership underscores our commitment to providing our community with innovative and secure communication channels.

At DuckDAO, we believe in fostering a transparent and engaging relationship with our community. Therefore, we are excited to leverage EtherMail’s cutting-edge platform to deliver personalized newsletters, timely and tailored updates, and relevant information directly to our token holders’ inboxes. With EtherMail, we can ensure that our community members receive the most up-to-date information in a secure and anonymous fashion, promoting trust and confidence.

This partnership represents a significant milestone for both DuckDAO and EtherMail. For EtherMail, this is a tremendous opportunity to showcase its innovative Web 3 Email Solution to our active and dedicated community of token holders, thereby expanding their reach and user base. On the other hand, for DuckDAO, this partnership is a testament to our commitment to innovation and delivering top-notch services to our community members.

At DuckDAO, we believe that our tokenholders are the backbone of our project, and that is why we are always exploring ways to improve their experience. We are confident that our partnership with EtherMail will enhance our communication channels and promote a better understanding of our project’s developments and initiatives.

In conclusion, we’re confident that this exciting partnership will drive our project’s growth while providing our token holders with a secure and anonymous platform to engage with us. We will continue to explore new and innovative ways to enhance our community’s experience and build a strong, engaged, and supportive community.

What is Ethermail?

EtherMail is a pioneering Web3 Email Solution that sets the standard for secure and anonymous wallet-to-wallet communication. With EtherMail, users can communicate with each other in a fully anonymous peer-to-peer fashion, and they can earn rewards for reading relevant content in their inbox. The platform also enables companies to send personalized and pertinent content to their asset holders based on real-time blockchain information.

How is Ethermail different from other Email Providers?

The EtherMail solution stands out from legacy email providers by promoting incentive alignment among users and companies. This alignment is based on fundamental principles such as the possibility of anonymous communication, fair compensation for users based on their value to advertisers, and free communication between users. This approach allows advertisers and users to collaborate to provide an exceptional email marketing and communication experience where both parties know what to expect from each other.

Please follow the Link to learn more about Ethermail.

Link to Ethermai: https://www.ethermail.io

Find Out More About DuckDAO🐥

DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success.

Who will win? One VC or ten thousand ducks?

Official Links:

• Website
• Telegram
• Twitter
• CoinGecko (DDIM)
• EtherScan (DDIM)
• CoinGecko (DUCK)
• EtherScan (DUCK)

DuckDAO and Ethermail Join Forces was originally published in DuckDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

A long time ago, in a world made of code, a small duck was seen, going on a stroll. Other ducks noticed and yelled “Stop! It’s dangerous out there!”, but our little duck, didn’t really care.

For you see, it was on a mission, and in its head a clear vision, it was going to become the richest duck, no matter what. Over many days, months, and years, the duck spoke without fear, inspired thousands to his cause, and promised wealth, riches, and cars.

“Together we can make it, alone we fall.” said the duck, to them all.

Word spread quick, about a duck with a trick. “What is your secret?” everybody asked.

“Keep your eyes wide and don’t let opportunity pass.” The duck explained. “There is more than enough for all to get paid.”

And paid they got, following the mighty duck in many adventures and business ventures.

Merry Christmas Ducks!

It’s been a real adventure since the start of DuckDAO. We moved fast to leverage the best early-stage opportunities and proved once and for all that our efforts pooled together can create impressive results.

Looking back at the past four months, we’ve come a long way, a culmination of results based on three years of hard work. We hosted twelve AMAs, two successful incubation projects, generated more than a dozen new partnerships, launched an NFT collectors game, and grew our community three-fold.

So, let’s take a look back at Christmas past and see what we achieved together.

DuckDAO Milestones

DuckDAO Telegram Member Growth

DuckDAO experienced massive growth starting in August after we launched our website on the 12th of July, 2020. This was by no means the start of DuckDAO. In fact, by this point we had already helped numerous projects, such as GEEQ, DeFiPie, and Fyooz raise the funds they need to succeed.

However, we believe the website helped spread the word about our community, making it easier for users to explain what DuckDAO is, what we do, and how to become a member.

During the same period, the DeFi movement was breaking through into the crypto mainstream, with several successful product launches happening between August and the end of September.

Last, but not least, we began documenting our progress on our Medium blog. This includes all of our partnerships, incubation projects, AMAs, projects, and weekly community updates.

These factors combined, produced the right conditions for DuckDAO’s organic growth. At the time of writing, the main Telegram group recently broke through 10,000 members.

Approximately 30% of these users hold DDIM, and this week’s DUCK token launch was a massive success with 2,867 holders just five days later.

All of this was achieved organically by our members, supported by various competitions, DuckDAO Hunters, and our ecosystem of partners.

Incubation Projects

Base Protocol (147x) and Bondly (14x) both performed exceptionally well. We managed to secure a discounted private allocation for community members and provide these projects with marketing support and advisory during their launch process.

After they pass our due diligence process, incubated projects are selected based on community interest, empiric analysis, project potential, and collaboration affinity. We negotiate as hard as possible to bring VC-level deals to our community and this is only possible because we act as one cohesive unit.

The incubated projects continue to be supported by DuckDAO even after their successful launch, with marketing and advisory. Our platform is constantly open for incubation projects and we happily share news, development, and achievements with our community.

With the Duck Liquidity Pool, we will have other ways to continue to provide support for projects.

The next project to get incubated is Poolz, a new Foundry project that is hoping to cause a ruckus in the crypto fundraising industry. Learn more about Poolz.

Partnerships

In DuckDAO, collaboration is celebrated. It is the cornerstone of our success, and without our community and strategic partners, this path we walk on would have been more difficult. They’ve been crucial in our efforts to navigate crypto, discover and get connected with projects, and increase the reach of our marketing.

Together, we’ve created a strong crypto investor ecosystem consisting of over 100k members, which truly drives home the point of the power of communities in early-stage project funding.

The following projects became DuckDAO partners since August:

Strategic partners:

• TrustSwap
• Yield
• PAID Network
• Polkacover
• YFDAI Finance
• Zenfuse
• Ferrum Network

Community partners:

• SpykeFast
• The GoodFellas
• Gains Associates
• TheBlockMint
• CryptoDaku
• Megala Ventures
• CryptoDiffer
• Vietnam Blockchain Community

More partnerships to follow in 2021.

DuckDAO Twitter

Twitter has been an increasingly important tool for reaching our community over a longer period of time. Telegram is great for real time communication, but Twitter helps us distribute messages over a longer period of time, developing a history that enables members to see if they’ve missed anything while they are gone.

DuckDAO’s twitter account was created on August 12th, 2020 and has grown to 15k members at the time of writing. During our first month on Twitter, we posted 75 tweets, reaching 241k users, and getting 13.1k profile visits, 814 mentions, and 1,328 new followers.

Looking at the analytics now in December 2020, we have posted 231 tweets, reaching 2.68 million people (Wow!), resulting in 208k profile visits, and we got 14.1k mentions, and 8.3k new followers.

This is the power of ten thousand ducks and their friends.

DuckDAO Ambassadors

A special thanks goes out to Ivan on Tech and Michael Gu from Boxmining for supporting us from the very beginning, as we were making plans to develop the Duck Liquidity Pool. They were critical in raising awareness about DuckDAO within their own communities.

In addition to the marketing support, both Ivan on Tech and Boxmining proved to be invaluable partners that helped DuckDAO achieve more by assisting us during brainstorming and strategic sessions.

The entirety of DuckDAO fully supports both of them in their mission to provide relevant information, education, and news for the broad cryptocurrency community.

DuckDAO AMAs

“Ask Me Anything” is a segment where we bring on project leadership and give them space and time to answer questions asked by the community. These are incubation projects, but also strategic partners who want to spread the word about their project.

The main purpose of AMAs is to engage the community and see how they perceive the project. If the community is very interested, we take extra effort to secure the best possible allocations and get a great deal for the community.

Since August, we’ve conducted twelve AMAs, roughly three per month, during which projects gave away community rewards for the best and most challenging questions. One of these AMAs was for our own project, the recently launched Duck Liquidity Pool.

The other AMAs were:

• Poolz AMA with co-founders, Guy Oren, Stan Golding, and Liam Cohen
• SpiderDAO AMA with Nathan Varty, Žiga Flis, and Anas Sayed
• PAID network AMA with CEO, Kyle Chasse
• Yield AMA with Tim, Jan Strandberg, and Justin Wright
• Polkacover AMA with CEO, Kunal Sadani
• Base Protocol AMA with founders, Nick Ravanbakhsh and Dylan Senter
• YFDAI Finance AMA with Founders, Olivia and Rocky
• PlotX AMA with co-founders, Ish Goel, Kartic Rakhra, and Satheesh Ananth
• Bondly AMA with CEO, Brandon Smith.
• UTU AMA with leadership team, Jason Eisen, Bastian Blankenburg, and Rahul Srivatsa.

Christmas Market Maker Drop

The market-making business has begun and profits will be shared with DUCK farmers today.

If you are actively farming DUCK, there is nothing more that you need to do to be eligible for the market maker rewards. Each DUCK farmer will receive a proportional reward depending on his or her stake in the network.

Market maker rewards are scheduled to be distributed in the next 24 hours.

Find Out More About DuckDAO🐥

DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success.

The DuckDaoDime token is your key to unlocking all of the DuckDAO benefits. You can access DDIM here.

Who will win? One VC or a thousand ducks?

Website: https://duckdao.io

Telegram: https://t.me/joinchat/It2yDE3QPPTw9JLLMHLXKA

Twitter: https://twitter.com/dao_duck

CoinGecko (DDIM): https://www.coingecko.com/en/coins/duckdaodime

EtherScan: https://etherscan.io/token/0xfbeea1c75e4c4465cb2fccc9c6d6afe984558e20

Have a Quacky Christmas and a Ducky New Year! 🐤🐤🐤 was originally published in DuckDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

Successful Launch of The DUCK Token

Starting Wednesday the DUCK farming contract was activated on Ethereum’s block 11508891 and early-stage liquidity providers are already harvesting their token rewards.

The flawless launch of the DLP and DUCK token led to 7 million DUCK staked with the one-side burn, representing about 35% of the current circulating DUCK supply.

All of these tokens will be burned when unstaked, lowering the DUCK market cap down the line. These liquidity providers have considered their options and decided to have real skin in the game.

DUCK was at the top of DEXtools’ Hot Pairs list, followed by DDIM in 6th place. The support of our community and partners was vital in achieving this great outcome. We are grateful for all of your support during this process and your patience while we were performing security audits.

Soon after the Uniswap launch, the token was added to the CoinGecko token tracked and DUCK reached the 4th position on the highest trading volume charts on the platform.

We made some calculations to calculate the ROI of presale DUCK buyers and at the time of writing they’ve made about 17.5x on their original investment.

We did our best to create the best farming product for our community, a protocol that will last the test of time, and we are happy to say this is just the beginning. The DuckDAO continues to work hard to provide early-stage opportunities for its community.

It’s not too late to become a DUCK liquidity provider and stake with DLP.

Read this article to get started, and if you need any help, let us know on Telegram.

Pre-Staker rewards

Our next incubation project, Poolz stepped up to support the DLP and DuckDAO to airdrop tokens to Duckfarm pre-stakers.

This event is over and rewards will be distributed after $Poolz TGE.

DeFiPie Farmdrop

In order to celebrate DeFiPie’s Ethereum mainnet dApp release, rewarded DUCK farmers with a share of 80,000 $PIE on behalf of DeFiPie’s support for DuckDAO and Duckfarm. Both DUCK/DDIM and DUCK/ETH were rewarded.

DuckDAO Hunters

Trading Competition Winners

The DDIM trading competition on LAtoken ended on December 22nd, with 10 winners of “Sam — The Market Maker” rewards.

15 rewards of 100 USDT were also distributed to lucky winners that traded at least 100 DDIM between December 3rd and December 22nd.

Full list of winners can be found on LaToken’s website.

The list of NFT winners:

• 0xb9189FA987AB126c9d16eEd5f1065c7f094A8d02
• 0x6084ebcfb2663b700C7288f6182D06247e840B9c
• 0x773Bad038D2671442f0d2a675F61409c94C5f637
• 0x60a73D9c0A5b63D2603029088d25aCa39726336D
• 0xA9719887c480c47cc8Aaa5983FEC9acA45569fa9
• 0xd28cC48FBA984e4AD09758443a65b51683F39C1C
• 0xA3E33f77551Dd8c6570103E5639E80457c709F7c
• 0x5588014Aa80ca565a492b4541304a6B730a54ABB
• 0x9Fe50A001C0E27998F50956B6f5bC131FC8D3Dd2
• 0x39Bc6E1e92cA1ae63937aa6F60ecf0f733bdE9Db

Intermediary Prize #2 Delivered to Winners

$12,500 was shared among 10 winners, netting each of them $1,250 in rewards for collecting the “Illuminati” DuckDAO Hunters set!

Congratulations to all of the winners! More intermediary prizes coming up before the finale.

DuckDAO Auction of “Michael — The Venture Capitalist”

“Michael — The Venture Capitalist” will be up for grabs in an auction organized between Christmas and New Year.

This is the last undistributed card in the entire 48 NFT collection and whoever gets this copy will most likely be the winner of the grand prize.

Make sure to not miss your chance at ultimate victory and keep an eye on the DuckDAO Hunters Telegram channel where the auction will be announced.

Good luck Hunters!

Find Out More About DuckDAO🐥

DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success.

The DuckDaoDime token is your key to unlocking all of the DuckDAO benefits. You can access DDIM here.

Who will win? One VC or a thousand ducks?

Website: https://duckdao.io

Telegram: https://t.me/joinchat/It2yDE3QPPTw9JLLMHLXKA

Twitter: https://twitter.com/dao_duck

CoinGecko (DDIM): https://www.coingecko.com/en/coins/duckdaodime

EtherScan: https://etherscan.io/token/0xfbeea1c75e4c4465cb2fccc9c6d6afe984558e20

DuckDAO Community Update 24.12.2020 was originally published in DuckDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

The $DUCK token listed on Uniswap on Monday, 21st December 2020. Pre-Staking of LP into DUCK/ DDIM and DUCK/ETH tokens is already open. Pools part of the Duck Farm start generating rewards from Wednesday, and the exact block will be communicated on our official Telegram and Twitter channels soon.

This is the first time that a project has been released into the crypto market with a clear focus on long term passive income without the shady elements of a multi-level-marketing (MLM) scam.

In addition to the returns from the high APYs during the first year, Duck farmers also get additional rewards from the market maker profits, FarmDrops of incubations and customised incentives like NFT drops.

We are glad to inform our ducks that Poolz will be the first incubation project token to be FarmDropped to Duck Farmers. Usually, only those who participate in the Duck Farm will be eligible to access these FarmDrops, but in this case, rewards are limited to users who supply liquidity (pre-stake) for the $DUCK/ETH & DUCK/DDIM pair on farm.duckdao.io. Only they will be eligible for the Poolz FarmDrop until $DUCK rewards go live on Wednesday.

Every user who supplies liquidity on farm.duckdao.io for DUCK/ETH will be eligible to receive a proportionate share of the Poolz FarmDrop until the launch of $DUCK rewards.

As you already know, the Poolz token sale is massively oversubscribed. Despite this, the Poolz team have agreed to support this FarmDrop. The DuckDAO team and the entire Duck community welcomes this move and appreciates the support from the Poolz team.

Poolz tokens are not yet live. So, the distribution of the Poolz token rewards will only be made promptly within 1 week of the Poolz token generation event.

About DuckDAO🐥

DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success.

The DuckDaoDime token is your key to unlocking all of the DuckDAO benefits.

You can access DDIM here.

Who will win? One VC or a thousand ducks?

Website: https://duckdao.io

Telegram: https://t.me/joinchat/It2yDE3QPPTw9JLLMHLXKA

Twitter: https://twitter.com/dao_duck

CoinGecko (DDIM): https://www.coingecko.com/en/coins/duckdaodime

EtherScan: https://etherscan.io/token/0xfbeea1c75e4c4465cb2fccc9c6d6afe984558e20

About Poolz:

The latest Foundry project, Poolz is a decentralized, swapping protocol for cross-chain auctions of Fungible and Non-Fungible (NFT) tokens, as well as OTC deals. The core code is optimized for DAO ecosystems, enabling startups and project owners to bootstrap liquidity for their crypto-assets, prior to listing. The poolz platform has already integrated with more than 4 different blockchains, discussing with +10 biggest blockchain networks.

Website: https://www.poolz.finance

Telegram: https://t.me/PoolzOfficialCommunity

Twitter: https://twitter.com/Poolz__

Telegram Announcements: https://t.me/Poolz_Announcements

Welcoming Poolz to DuckFarm: The Inaugural FarmDrop was originally published in DuckDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

Our DUCK Farm is live https://farm.duckdao.io/ for pre-staking.

Innovation is complex, but not usually easy to understand. But we at DuckDao have come up with an innovation that is both simple and easy to understand.

Interested in participating in Duck Farms? Just follow these 4 simple steps:

• Step 1. How to access DUCK token via a swap on Uniswap.
• Step 2. How to provide liquidity to a pair of tokens in a liquidity pool, and earn LP tokens.
• Step 3: How to stake these LP tokens with our Duck Farms to earn Duck Tokens and other great rewards.
• Step 4: How to harvest your rewards.

Let’s get started with Step 1: How to access DUCK token via a swap on Uniswap

Go to Uniswap and connect your Metamask wallet. You’ll need to have some ETH in your balance for the transaction.

Once connected, visit https://info.uniswap.org/token/0xc0ba369c8db6eb3924965e5c4fd0b4c1b91e305f

Alternatively, click on the “select a token” button, copy + paste the token contract for the DUCK Token (add 0xc0ba369c8db6eb3924965e5c4fd0b4c1b91e305f) and click Enter.

Select the DUCK token that pops up.

Enter the amount of Duck tokens you want to buy. Click “Approve” to enable Uniswap to spend the ETH. Then, “sign” on Metamask to make it official.

You will get a popup to confirm the transaction and swap ETH to Duck Tokens.

Set the speed to ‘Average’ or ‘Fast’ to increase the chances of the transaction going through. Do not edit gas limit values, because there is a high chance of transaction failure.

Get ready for Step 2: How to provide liquidity to a pair of tokens in a liquidity pool, and earn Liquidity Provider(LP) tokens

Now that you have the DUCK token approved on Uniswap for your wallet, it’s time to turn our attention to the protocol.

Visit https://farm.duckdao.io/ to get started.

Click on “Swaps” on the top menu bar.

Select the pool you are interested in to start making your LP tokens for. Eg: “DUCK/DDIM”

For the DUCK/DDIM example, on this screen pressing on “Get Duck/DDIM LP Tokens will take you directly to the correct Uniswap contract where you can complete the action.

https://app.uniswap.org/#/add/0xC0bA369c8Db6eB3924965e5c4FD0b4C1B91e305F/0xFbEEa1C75E4c4465CB2FCCc9c6d6afe984558E20

Once you are on Uniswap, you will need to provide both sides of the liquidity in order to generate LP tokens. In this example, simply enter the amount of DUCK you wish to add, and Uniswap will automatically fill out the DDIM side.

Click supply and confirm the transaction.

Set the gas to ‘Average’ or ‘Fast’ to increase the chances of the transaction going through on time. Do not edit gas limit values, because there is a high chance of transaction failure.

Wait for your transaction to complete and once confirmed, go back to the Duck DAO staking website.

Step 3: How to stake these LP tokens with Duck Farms to earn DUCK Tokens and other great rewards

You’ve provided liquidity to the appropriate Uniswap pair and your wallet now holds the appropriate LP tokens. To continue, go back to the DuckDAO staking website, navigate to swaps, and select your pair.

To stake your LP tokens on the platform, press the “Approve” button first.

Then you have to confirm your transaction. Check Metamask to confirm your approval transaction. Once your transaction is confirmed you can use the “Stake” Button to stake your LPs.

Enter the desired amount of DUCK and DDIM LP tokens and click “Confirm.”

You will get a popup to confirm the transaction.

Set the gas to ‘Average’ or ‘High’ for the transaction to go through faster. Do not edit gas limit values, because there is a high chance of transaction failure.

The LP token is out of your wallet and in the farming smart contract.

To verify that your LP tokens are staked within the pool look at the “Staked” amount shown in the black window on the pool swap view.

If you see the number of LP tokens there, congratulations! You are officially a DUCK liquidity provider. Your LP tokens are staked in the farming contract and will reward you with DUCK tokens and other great rewards over time.

Step 4: How to harvest your rewards

You need not unstake the liquidity provided to harvest your rewards.

Click the Harvest button and approve the transaction. The rewards will go back into your attached wallet. That’s it, you have claimed (or harvested) your rewards for supporting the network.

If you wish to unstake your liquidity, use the Unstake button.

Please note that unstaking liquidity from the pool will automatically activate the unilateral token burn feature and you will lose access to all the future rewards and farmdrops. Unstaking will automatically harvest your rewards as well.

Head over to farm.duckdao.io and start farming today. The DUCK token rewards will be launched on Wednesday and the exact block will be communicated soon.

Find Out More About DuckDAO🐥

DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success.

The DuckDaoDime token is your key to unlocking all of the DuckDAO benefits. You can access DDIM here.

Who will win? One VC or a thousand ducks?

Website: https://duckdao.io

Telegram: https://t.me/joinchat/It2yDE3QPPTw9JLLMHLXKA

Twitter: https://twitter.com/dao_duck

CoinGecko (DDIM): https://www.coingecko.com/en/coins/duckdaodime

EtherScan: https://etherscan.io/token/0xfbeea1c75e4c4465cb2fccc9c6d6afe984558e20

Step-by-step tutorial on DUCK farming was originally published in DuckDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

$DUCK Listing on Uniswap Tomorrow

The DLP security audits are complete, and the time to launch the protocol is approaching fast. We are making the final preparations for the launch. Recently, we published a new page DuckFarm page on our website and a DLP-focused medium article to make learning about the protocol easier and accessible.

The $DUCK token will list on Uniswap during a 5-hour time window between 12 pm and 5 pm UTC on Monday, 21st December 2020.

We are also organizing an AMA with the Duck Team today, in approximately one hour from the publication of this community update. To participate, join the DLP Telegram Channel and post your question using the #amaquck hashtag.

We will be giving away rewards for the best questions! 😉😉😉

DuckDAO Hunters Season 1 Final Stage

We are entering the final stage of DuckDAO Hunters Season 1 in full force with increasing frequency between intermediary prizes before the grand finale. All of the loot boxes have been sold out, and the rewards are ready to be distributed to passionate hunters.

Shortly after the AMA is complete, the next target set will be shared on the DuckDAO Hunters Telegram group, together with a form you need to complete to be eligible for the prize.

Update: The intermediary prize set reveal is going to happen after the DLP launch.

Keep your NFTs handy for DuckDAO Hunters Season 2 because you will be able to exchange any full Season 1 set for one equivalent Season 2 card.

More on DuckDAO Hunters Season 2 in the near future.

DDIM Price Analysis

Since last week’s update, DDIM has more than doubled in value. The series of successes that we experienced has compounded in a massive engagement by the community. Collaborations with strategic and community partners have been significant for our organization’s success, and we look forward to keeping (and exceeding) the expectations of all of our stakeholders.

At the time of writing, DDIM/ETH has more than $1 million in liquidity on Uniswap, a milestone that’s worthy of celebration. However, there is a lot of work ahead of us, especially in the next week as we are getting ready to launch the $DUCK token and DLP platform. With the launch of Duck Farms, DDIM gets a new deflationary element to it when you farm DDIM/ETH that could get our Ducks quacking even more.

Ecosystem News

Poolz Launches Official Testnet on TomoChain

Our latest Foundry/DuckDAO project Poolz has successfully deployed their official TomoChain testnet, bringing them closer to the cross-chain world they envision. The project already has a testnet live on Rinkeby. Once this implementation goes live, developers will be able to migrate their DApps from Ethereum to TomoChain without any hassle, thanks to Poolz.

Read more about their experience.

Bondly Partnered with Binance Smart Chain

DuckDAO incubation project Bondly has partnered with Binance Smart Chain to celebrate Christmas, DeFi, and NFTs. As a part of the partnership, they will be moving their Bondly Card Collectible Game over to Binance Smart Chain, and they are giving away a promo starting in a few days.

Learn more about their partnership

Base Protocol is on Fire 🔥🔥🔥

Base Protocol and DuckDAODime make it to CoinGecko’s Top 30 trending coins for a second week in a row! 🔥🔥🔥

Base Protocol is hard at work to maintain the number one position for the long term. They are putting out incredible amounts of great work and their efforts are fruitful.

In short, they’ve managed to secure $5m in liquidity across all staking platforms, became #1 hottest token of the week on CoinGecko, got whitelisted by Dharma.io and 1Inch, and participated in two official Chainlink AMAs for their Chinese and English communities.

And more!

Read their achievement summary.

AMAs

On Monday the 14th of December, the DuckDAO community had an AMA with Nathan Varty, Žiga Flis, and Anas Sayed from SpiderDAO.

Read the full AMA here.

On the following day, Tuesday 15th of December, the Foundry community had an AMA with Poolz co-founders Guy Oren, Stan Golding, and Liam Cohen.

Read the full AMA here.

Another reminder that our DLP AMA is starting in one hour from the publication of this article.

Join the DLP Telegram channel to take part and get answers.

Find Out More About DuckDAO🐥

DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success.

The DuckDaoDime token is your key to unlocking all of the DuckDAO benefits. You can access DDIM here.

Who will win? One VC or a thousand ducks?

Website: https://duckdao.io

Telegram: https://t.me/joinchat/It2yDE3QPPTw9JLLMHLXKA

Twitter: https://twitter.com/dao_duck

CoinGecko (DDIM): https://www.coingecko.com/en/coins/duckdaodime

EtherScan: https://etherscan.io/token/0xfbeea1c75e4c4465cb2fccc9c6d6afe984558e20

DuckDAO Community Update 20.12.2020 was originally published in DuckDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

(Important: The DLP Duck ($DUCK) token is not in circulation yet and will be listed on Uniswap in the following days.)

The $DUCK token will be listed on Uniswap during a 5 hour time window between 12 pm and 5 pm UTC on Monday, 21st December 2020.

Pre-Staking of LP into DUCK/ DDIM and DUCK/ETH tokens will open a few hours later.

Pools start generating rewards on Wednesday, and the exact Block will be communicated on Telegram.

The long-awaited DLP is finally going live!

Soon you will be able to start earning DUCK by becoming a liquidity provider. Before that becomes possible, now is the perfect opportunity to familiarize yourself with this innovative platform.

Becoming a DUCK liquidity provider is easy, however, there are some serious implications that you need to consider. Our goal here is to provide you with all relevant information that will help you make an informed decision.

What is the Duck Liquidity Pool?

The Duck Liquidity Pool (DLP) is a DuckDAO DeFi market maker that will offer services to projects and exchanges. Projects that are incubated by DuckDAO will be the first to benefit from the service, but it will become widely accessible to public projects over time.

Projects have three ways to take advantage of the DLP Market Maker:

1. Project Token Purchase — DLP buys tokens to provide buy and sell-side liquidity.
2. Project Token Borrow — DLP borrows tokens against collateral and provides buy and sell-side liquidity.
3. Fixed Fee Mode — Projects provide buy and sell-side liquidity themselves and pay a fixed service fee in exchange for a limited duration listing.

Detailed explanation in the blackpaper.

Yield Farming

Yield Farming plays a major role in the Duck Liquidity Pool and we’ve incorporated significant upgrades compared to other yield farming platforms on the market today.

Most of the yield farming projects were decimated by large inflows of liquidity, heavy-duty farming, and almost complete project abandonment. It’s always on to the next one in DeFi.

The DLP will challenge this status quo with a strong proposition. Liquidity providers must have skin in the game, otherwise, DeFi protocols do not make sense.

We solicit liquidity provider engagement through the introduction of a deflationary mechanism, the unilateral (one-sided) burn.

With the deflationary mechanism, we encourage loyal liquidity providers by rewarding them over the long-term and we protect the project by discouraging short-term liquidity providers from joining.

The goal is to cultivate a strong pool of liquidity providers that have a real stake and interest in the DLP, that care about the success of the platform and are involved with the DAO.

What is a unilateral (one-sided) burn?

We’ve researched and analyzed existing models to find ways to make them better, more authentic, and relevant for users.

The DLP rewards long-term engagement through the implementation of a one-sided-burn that happens when liquidity is unstaked from the platform. This deflationary mechanism rewards users that remain liquidity providers for the longest period of time. When a liquidity provider leaves the platform, he or she agrees to burn 100% of the primary token in the trading pair.

Note: Usually this token will be DUCK, however for ease of understanding, the primary token is on the left side of the pair (e.g. DUCK/DDIM will burn DUCK tokens, DDIM/DUCK will burn DDIM tokens.)

Yield Farming Schedule

The DLP rewards early supporters by providing exceptionally high rewards in the first year by using peak weeks. Naturally, peak weeks only last for seven days, during which massive amounts of DUCK are awarded to participating liquidity providers.

Peak weeks are followed by a few months of calm, normal rewards.

The first two pools will receive three peak weeks in the first year after they are introduced. The difference in rewards is significant, encouraging a great start for each trading pair introduced.

How big of a difference?

For example, in the DUCK/DDIM pool, one peak week will issue three million DUCK, while periods in between will only issue two million DUCK.

Breaking it down to a weekly difference, a peak week is worth 18 normal weeks.

DUCK rewards are fairly shared across all liquidity providers, depending on the amount of liquidity provided, relative to the total value of all staked assets.

Other pools will have different calculations depending on the multiplier effect.

Multipliers

In order to mitigate some of the risks, we developed multipliers for the riskiest pools on the DLP. The DUCK/DDIM example above receives a 3x multiplier and that’s already calculated in the yield farming rewards. Other less risky pools will have a 2x multiplier, while the safest pools are not going to receive any multipliers, i.e. only 1x.

Multipliers are a great way for us to compensate liquidity providers for the one-sided-burn and the risks they are undertaking.

Other Rewards

$DUCK liquidity providers are eligible for other special rewards:

• Market-making profit distribution
• Project token airdrops
• NFT as rewards

These rewards may be distributed based on a lottery or participation method, with the exception of market-making profits, which are evenly distributed according to relative liquidity ratios.

You must be a $DUCK liquidity provider with an active stake on the DLP to be eligible for these rewards.

Get started with DLP

The DLP is fully audited (twice) and is nearing its launch date.

Join us on Telegram to be the first to know how and when the token will be launched. Our mods will provide you with the most relevant project updates on time.

You will be provided with enough time to prepare yourself to become a DLP liquidity provider if you are willing to have “skin in the game.”

We’ve planned the yield farming schedule around a four year period for all $DUCK pools, giving us sufficient opportunity to innovate and continue transforming DeFi, one protocol at a time.

Find Out More About DuckDAO🐥

DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast track their progress on the path to success.

The DuckDaoDime token is your key to unlocking all of the DuckDAO benefits. You can access DDIM here.

Who will win? One VC or a thousand ducks?

Website: https://duckdao.io

Telegram Duck Liquidity Pool: https://t.me/duckliquiditypool

Telegram Duckdao: https://t.me/duckdaolobby

Twitter: https://twitter.com/dao_duck

CoinGecko (DDIM): https://www.coingecko.com/en/coins/duckdaodime

EtherScan: https://etherscan.io/token/0xfbeea1c75e4c4465cb2fccc9c6d6afe984558e20

Duck Liquidity Pool Launch was originally published in DuckDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

The duck family keeps on growing to accommodate the ever-increasing needs of our ecosystem. We are beyond excited to call the great people at TrustSwap our feathery brothers and sisters. This collaboration will provide both organizations with enhanced capabilities to deliver value to projects and investors.

The partnership’s main idea is to share resources and technology to pursue supreme service for early-stage blockchain projects. Working together, our marketing, research, and fundraising capabilities will be multiplied to deliver more value to projects and both of our communities.

Regarding the partnership Jeff Kirdeikis, TrustSwap CEO said:

“There are a lot of values that bring DuckDAO and TrustSwap close together, this partnership was inevitable. We both strive for greatness and we are not afraid to roll up our sleeves and get to work. We both make big promises and overdeliver regardless of the cost. From our perspective, DuckDAO is an amazing partner. They are close to many early-stage projects, and this partnership provides us with a platform to reach these organizations as they are making important fundraising decisions, and we have a lot to offer.”

A DuckDAO founding member commented on the partnership, saying:

“TrustSwap took a great idea and gave it life. We are proud to be working alongside such entrepreneurial people. Since DuckDAO was formed, there have been many times when what was needed was not readily available, and we had to do it ourselves or not do it at all. If you are reading these updates, you know the lengths to which we are ready to go for our community, and TrustSwap shares these values with us. This partnership will take DuckDAO and TrustSwap to the next level and enable us to move faster than ever before.”

Beyond resources, DuckDAO and TrustSwap will share experiences and deal opportunities with one another. Both organizations are in touch with early-stage projects, but they are equipped with different resources and technology. Together, great things can happen.

About TrustSwap

TrustSwap is a foundational layer in decentralized finance, enabling safe and customizable transactions for the global crypto ecosystem. Jeff Kirdeikis, TrustSwap CEO, was struggling to find a trustless, decentralized solution for token allocations. The alternative would have been a costly lawyer fee, who would act as a middleman that issues time-based payments. Instead, he opted for the entrepreneurial approach, and TrustSwap was born out of necessity.

Today, any project can use TrustSwap to transfer tokens to investors over time, making vesting processes simple, safe, and inexpensive. TrustSwap is hard at work to continue to innovate in crypto payments solutions, eliminating intermediaries wherever possible.

Website: https://trustswap.org/

Twitter: https://twitter.com/trustswap

Discord: https://discord.com/invite/fNpNNmd

Telegram: https://t.me/TrustSwap

Find Out More About DuckDAO🐥

DuckDAO is a community-backed blockchain-centric incubator platform that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to put them on the path to success.

Who will win? One VC or a thousand ducks?

Website: https://duckdao.io

Telegram: https://t.me/joinchat/It2yDE3QPPTw9JLLMHLXKA

Twitter: https://twitter.com/dao_duck

CoinGecko (DDIM): https://www.coingecko.com/en/coins/duckdaodime

EtherScan: https://etherscan.io/token/0xfbeea1c75e4c4465cb2fccc9c6d6afe984558e20

DuckDAO Enters Strategic Partnership with TrustSwap was originally published in DuckDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

Poolz Finance — A Summary

“Connecting innovators with investors, through decentralized swapping and interactive UI for easily-manageable pre-listing liquidity auctions.”

Poolz is a fully-decentralized, swapping protocol that enables startups and project owners to auction their tokens for bootstrapping liquidity. As the blockchain-cryptocurrency community moves closer to absolute decentralization, Poolz empowers innovators in their pre-listing phase, bringing them closer to early-stage investors.

Investors, on the other hand, can leverage the Poolz platform to discover promising and disruptive projects with high potential value. In this sense, the platform offers a secured and intuitive way for investors to gain substantial, long-term returns from their assets.

Key Features

• Customizable pool options ensuring relevance for wide-ranging blockchain-based projects and use cases, alongside multi-chain integrations and support. Poolz is built with the long-term aim of enabling a unified interface with cross-chain interactions and other functionalities.
• A fully decentralized, non-custodial, and trustless ecosystem with robust, Solidity-based smart contracts.
• An interactive, intuitive, and responsive UI, coded in React for a smooth and seamless user experience. Moreover, Poolz integrates Web3 libraries to access continuous feedback from on-chain data, thus implementing necessary UI upgrades for optimum consistency.
• Unit testing of smart contracts and network (developed in Truffle) code using Ganache, ensuring optimal bug-resistance and security.
• Continual and multi-level incentivization mechanisms, facilitating recurrent gains for investors, liquidity providers, and yield farmers.
• Due to Poolz’s optimized network and contract architecture, innovators require substantially lesser gas fee for registering their pools, as compared to existing market standards (see: Technical Considerations).

Use-Cases

• Liquidity Bootstrapping: Innovators can leverage the Poolz platform to launch token auctions, thus generating liquidity for their DEX listing. Although the platform is the most relevant for early-stage projects, it can be similarly used by any blockchain-based project.
• OTC Trading: Strengthening widespread DeFi adoption, the Poolz platform can also be used as a marketplace for wide-ranging crypto OTC trading.
• Yield Generation: Investors can participate in auctions hosted on the Poolz platform, thus generating passive yield from their ETH and DAI holdings (during MVP phase) by providing liquidity to auctioning projects.
• Non-Fungible Token (NFT) Bid Auction: NFT-based projects can launch dynamic ratio auctions on the Poolz platform, thus diversifying the options for liquidity providers.

Website: https://www.poolz.finance/

Documentation Portal: https://docs.poolz.finance/

Discord: https://discord.com/invite/xwtWw4sGPp

Telegram:https://t.me/PoolzOfficialCommunity

Twitter: https://twitter.com/Poolz__

Github: https://github.com/The-Poolz

Medium: https://poolz.medium.com/

Participants:

Poolz — Guy Oren — Co-founder and CEO

Poolz — Stan Goldin — Co-founder and CTO

Poolz — Liam Cohen — Co-founder and CMO

Foundry — Limmy — Foundry community representative

Please note that the following summary has been edited for clarity.

Limmy

Welcome everyone to the Foundry!

We are joined today by Poolz co-founders Guy Oren, Stan Golding, and Liam Cohen.

On behalf of the DuckDAO and Ferrum communities, I’d like to welcome you both to the Foundry for this AMA session.

Guy

We are three founders that have an affinity for blockchain technology with vast experience in computer software.

I’m Guy Oren, the founder and CEO of Poolz, from Israel. Over the past 8 years, I have founded 3 startups. My focus is on developing solutions for the Blockchain & Fintech Industry using my knowledge and experience of working in a hyper-growth environment. In my previous role, I managed over 40 employees, raised money from private equity (angels and VC), and operated the product across 60 countries. I have experience in managing operations, P&L management, and working in a fast-moving environment.

https://www.linkedin.com/in/guy-oren-028b9a72/

Stan Goldin, CTO.

Stan, our CTO, is an experienced founder and developer who has vast experience working in the computer software industry. Skilled in management with strong business development skills, Stan aims to make technology easy and accessible for all. His love for innovative technology brought him into the blockchain space in 2016. He has previously co-founded Cryptonex — Algo Trade.

His main focus is on Poolz Defi and helping us build the first cross-chain decentralized environment architecture designed uniquely for DAO ecosystems.

https://www.linkedin.com/in/stan-goldin/

Liam Cohen, CMO.

Liam has been a crypto investor for the last 6 years. In that time, he has built valuable connections and gained high-level knowledge in blockchain and cryptocurrency. In his last role, Liam managed the community engagement at Endor Protocol (EDR), an MIT-based startup that raised over $50 million from investors such as Google and others.

https://www.linkedin.com/in/liam-cohen-786323152/

Limmy

Can you also tell us some more about the rest of the team and advisors that can’t join us today? (Except Ian — we’ve already gotten our fill of Ian 😜 )

Guy

I’m sure about that (:

Liam

In general, the Poolz core team includes 10 team members who are managing several departments including development, marketing, biz dev, product, and design.

Moreover, our advisory board includes:

Or Dadosh — A senior blockchain engineer of social investment giant, eToro. He has also served as the former blockchain lead developer at the decentralized finance platform Bancor (BNT). Currently, he is an advisor to a number of startups and a consultant at the hybrid blockchain company, Orbs.

Kha Nguyen — A Lead Blockchain consultant, At Tomochain. Kha is an experienced blockchain consultant with over a decade of experience in the IT industry. Kha’s more than 10 years’ experience, he has managed multiple senior-level roles in the largest technology companies.

And in case you forgot :)

Ian Friend — A former blockchain lawyer, is the Co-Founder of Ferrum Network and has been full time in the industry since the bear market of 2018, having built several successful businesses including a staking-as-a-service business with 45+ clients and $15mil TV. He brings to Poolz an expertise in investor relations, community growth, and generating long term value for token holders.

Limmy

Thanks Liam.

Quite the Lineup! The first question (Or at least a variation of it) was asked quite a bit leading up to this AMA:

The obvious comparison here is Polkastarter. How does Poolz compare with this project, and can you give an example of something that Poolz can do which Polkastarter cannot?

Liam

As for Polkastarter, their platform was launched only recently. From what can be seen, they have done a nice job, but the system is not decentralized even though they’re marketing themselves as a decentralized platform. They manage the pools on their platform manually which brings in too much central control. I hope they will change it later on.

On the contrary, our pools and almost all parts of the platform are automated and actually decentralized. If you pay attention, Polkastarter competes with only a part of the services. The services Poolz provides are not limited to just cross-chain liquidity auctions or swaps. We have developed Poolz as a unique system established on smart contracts in an open-source environment. Our vision spans far beyond just providing a platform for cross-chain liquidity auctions.

Poolz is developing a one-stop solution for project owners so they can rely on a single platform that can cater to their needs for the very long-term. We have an array of solutions, and cross-chain liquidity auctions to raise funds just to name only one use-case of Poolz which blockchain projects will reap huge benefits from. Through Poolz’s solutions, we aim to help projects from their initial funding phase through to their later stages. Token issuance, liquidity management, staking-as-a-service, cross-chain swaps, synthetic token creation, multi-chain token sales, are some of the use-cases we plan to bring on Poolz.

Limmy

I see, so true decentralization and automation just as a starting point in terms of differentiators. I believe we have some questions that will touch on some of the perceived risks for that a bit later on in the AMA, but that sounds very promising!

Our next question is a pretty technical combo question:

What are the differences between interoperable multi-chain architecture and Cross-Chain Integration? Without using an intermediary party in the process, how can Cross-chain swaps between public and private networks?

How can users launch and participate in liquidity auctions across multiple blockchains with Poolz?

Stan

In non-technical words, let’s say each chain is a city, and our Poolz contract is a shop. A multi-chain architecture means we have the same shop in more than one city. The cross-chain integration, on the other hand, is the road from one shop to the other that can be used by all. In the same example, a private network is a road with a gate, someone needs to open the gate for you…

And for the last part of the question, there are a lot of use cases here. For example, you make a token in chain A, and then sell some of them in the same chain with Poolz, then transfer the tokens to chain B using Poolz cross-chain infrastructure, and make another Pool in chain B. Now you have liquidity in both and the users can transfer your tokens from chain A to chain B.

Something like this:

Limmy

This is one of the best analogies I’ve ever read — makes it pretty clear even for those of us who aren’t super technical.

You sure Liam should be the CMO? haha

Guy

Lol. One Team. 😊

Liam

All of us have some marketing abilities :)

Limmy

Haha I kid obviously :P

How do you intend to bridge the value of a token from a blockchain to another blockchain? For example $1 usdt (ERC20) = $1 usdt (Tomochain) = $1 usdt (dot)

Stan

It will surprise you, but we don’t control the value, unlike the stable coin project that needs to make sure the value is right. The value will be (almost) the same because of the power of the free market. Let’s say we got 1 TestToken worth $1 in chain A and we transfer it to chain B. Right now, in chain B it seems like there is no value for the token, but anyone who gets the TestToken from you can transfer it back to Chain A where its value is 1$…

Now, let’s address “almost the same’’ price concern. There will be some fees for using the transfer (both the network fees and payment for Poolz). Let’s say it is 1% (just for ease of calculations). So, when you take 100 TestToken from chain A and move them to chain B, you get 99 TestToken. Now you can sell them there, on chain B. You will not sell them higher than 1%, because anyone can transfer them from chain A to get that price. And you don’t want to sell them lower because you can transfer them back and pay only 1%. So, basically, the price on chain B will be the price of chain A + the fee.

Some more detail:

Stan

If no one takes the “arbitrage” money, we will take it :)

Limmy

I’m sure that someone is watching this AMA and frantically coding up a bot that will do just that lol

Stan

Lol!

Limmy

Poolz “provides direct cash flow options for promising projects”. What do you actually call a “promising project”? What are the metrics/data used to determine if a project is valuable or not?

Guy

That’s a great question,

Of course one of our most important challenges is to bring good and strong companies that will succeed. Also at the marketing level, this plays an important role and will help increase the use of our product.

So, first of all, our team has a lot of experience in all aspects — technical, managerial and marketing. This allows us to examine the projects and perform professional due diligence.

But even more interesting is that we will collaborate with various incubators that will provide us with reliable and promising projects that have received grants or support from them! This will save time for us and create trust. We see this as a super relevant use case!

For example, we are in discussion with Tomochain. They will forward high-potential projects to Poolz that will develop on TRC and get the grant program from them.

Another example is the collaboration between Poolz & The Foundry. This will allow Poolz to conduct sales of projects under incubation at The Foundry. This will ensure that we have some of the best crypto projects on the Poolz platform.

Limmy

Currently, most investors only care about immediate profits and ignore the long-term benefits. Can you give them some advice why they should buy and hold this token/coin in the long term?

Liam

As far as we know, a vast majority of crypto investors are looking for long-term investments in projects that are the right fit for them and have a strong strategy. After all, long-term investments are safer and have a huge potential benefit to offer. At Poolz, we are building for the long term. We believe that the market segment we are targeting is only in its infancy. The timing of Poolz in respect of the DeFi boom is similar to that of the crypto centralized exchanges that launched during the crypto boom around 2017. And we can today see how the best of them have made a huge impact on the market.

As the market grows, more new companies will rise and enter the crypto space. And in the end, all of these companies will have to raise money or additional services that we provide to companies before entering the market. As long as a variety of new companies joins the sector, Poolz’s vision will continue to exist.

So, from the perspective of long term investors, the real question they should ask themselves before investing is, “what will be the demand for a new blockchain company in X years from now?” And if the answer to that question shows that the company has the potential to grow in the long term, they should consider it a good investment. As for Poolz, our early target market has already proven our growth potential and validated the demand for our platform.

Additionally, I can say that the fact that our token release schedule is spread across 10 years is a testament to our belief that our project will succeed in the long term. We hold a huge stake in our company, and we are determined to make Poolz the best there can be both for investors as well as blockchain and crypto projects.

Limmy

“As the market grows, more new companies will rise and enter the crypto space. “ This is absolutely true! Those of us who have been around since the ICO craze of 2017 know that this space truly is full of innovation and there will always be new ideas springing up that will need to make use of a platform such as Poolz. Thanks Liam — a very strong answer!

We all know that there are many problems with the Ethereum network: scalability issues, high gas costs, slow speeds, etc.

Why did you choose to build a token on the ERC-20 blockchain ecosystem? Why not build it on a more scalable blockchain?

Guy

Actually, the reason we preferred Ethereum network to launch our platforms is clear: it has the widest adoption and security (hashing power). So, in terms of gaining popularity, traction, and users, there’s a low barrier for us compared to other blockchain networks at the moment.

However, when our system is ready, it will be possible to “move” the tokens to any other network we support. After we finish integrating our bridge and make our system functional across many blockchains, future projects will not have to worry about what blockchain network they should issue their tokens on.

Our development team seamlessly integrated the project with Ethereum. And, we have the flexibility to integrate with other different blockchain networks, including Tomochain, Moonbeam, and more blockchains we will announce soon.

Limmy

I imagine I can’t get you to “leak” some more examples of the next blockchain you plan to support here as an exclusive? 😜

Guy

I wish.. Liam won’t allow me to say 😜

Limmy

Fair enough (Sorry guys — I tried)

Why ERC-721 vs. ERC-1155 ?

The ERC-721 standard is great for tokenizing and creating unique assets that can be transferred from one wallet to another. However, a collection of ERC-721 tokens can prove slow and inefficient, for instance, when transferring multiple armor pieces in a game for a particular character.

This is where ERC-1155 comes in, and can offer unique digital NFTs, that allow batch transfers of multiple tokens at once, and at a much faster speed than an ERC-721. ERC-1155 tokens are often described as a “next-generation multi-token standard”, and the focus here is truly a “multi-token” approach. ERC-1155 is developed by Enjin, and supports both non-fungible tokens as well as fungible tokens.

For example, my $BONDLY NFTs show up under the “Collectibles” tab in Metamask. (Trust Wallet has this feature, too). I’ve heard non ERC1155 NFTs have issues with some wallets as well — have you considered the above when choosing which NFT standard to adopt?

Stan

In short: first transfer 1 then transfer N.

In our case, the NFT auctions will sell one token per auction during the MVP version. After this section is live and tested, we can add support for ERC-1155 standard NFTs.

This is how it works:

Limmy

That makes sense — it’s not a case of one standard or the other, it’s a case of which one is being supported initially.

Stan

During the MVP stage of the NFT auctions, the bid, rebid system is planned for one token each time, but it’s simple to transfer it to N tokens.

Limmy

Damn Stan, you’re a BPM master haha

It is mentioned that React Native along with an intuitive information architecture is used to build a responsive UI and UX. Can you please expand on the information architecture design, and how was this design conceptualized, was there any user research?

Stan

I’m a bit of a gamer …

As a method of work, we are allocating time for research at the beginning of any aspect. For example, let me share with you some of our findings on this subject. (React Native vs the alternative)

Most frameworks (Angular\Vue) would provide the same features and allow scalability. Choosing React allowed us to enjoy both. Our team’s extensive experience as well as the largest developer community, 3rd party components, etc.

In addition, using ReactJs could save us development time in the future in case we decide to switch to native mobile application (using react mobile).

Another critical issue for React is easier integration with Web3.

Feel free to ask more about this issue 😁

Our github is open, as all DeFi projects need to be

Limmy

This next question touches on the decentralization point mentioned near the start.

Given that the project is highly dependent on the pools created on the platform, how do you ensure that good projects do their listing on your platform, especially in the beginning?

How will you deal with fraudulent projects that intend to ghost/rug their investors?

Guy

Great point.

When we speak of decentralization and open-source platforms, the most important issue is to keep this structure, but on the other hand be aware of the possibility of “ghost projects”. The win-win solution for that is to create a “balance” between both issues.

There are a number of tactics we can use in our system to help investors make the right decisions. For example, we are currently examining an option to collaborate with a number of companies in the crypto space that provide smart contract audit solutions. These companies will help us give a “stamp” to verify tokens our auditors find safe for investment. That way, we keep the project decentralized and open source and still ensure the safety of our investor’s money.

Another mechanism that is for us to focus on partnering with third-party companies from verticals such as crypto grant programs, Layer 2 companies, accelerators, VCs, Incubators, and basically every legit firm in the space that invests money in crypto projects. These companies will bring the projects they’re working with on Poolz for their pre-sale rounds.

We already got an agreement with some accelerators who will forward the company to Poolz in order to manage the pre-sale. And these companies (pools) will be marked in one color so users will be able to differentiate and focus on the same projects.

As you can imagine, there are more tactics that will be implemented with Poolz, and we will share it as we work on them. But what I just shared was the bigger picture.

Limmy

Not to mention your stacked advisory team and the army of Ducks that all have strong opinions haha.

(OH! Not to forget the Ferrum community here as well sorry!)

Guy

You are right. On top of that we have the Ducks army 💪

Limmy

Reading through your litepaper it’s mentioned that there will be two types of pools on the platform — Direct Sale Pools (DSP) — without any lock-up period and investors received swapped tokens immediately — and Time-Locked Pools (TLP) — which have a predefined lock-in period and investors receive their swapped tokens only after the completion of this duration.

Can you please tell us what are the main pros/cons of choosing either option?

Liam

The DSP and TLP is more about a project’s choice of how they want to disburse the token than about having any specific pros and cons. Projects will have full discretion to choose either of the two.

In case a project wants only those investors who are ready to invest in them for the longer term, they can choose TLP. Doing so will ensure that a part of the project’s tokenis bought for the long term and may help in building more trust around the project,

Token sale with vesting period.

By the way, regarding the competitors that you mention before, we got the TLP options, not only DPS. to make TLP work as DeFi, you need a very important part. (you will be ann soon…)

DSP, on the other hand, will allow projects to distribute their tokens instantly after the sale and may attract more investors.

Limmy

The white paper mentions liquidity pool auctions, is there an opportunity to bid for these liquidities or will there just be a fixed swapping ratio depending on whether you hold POZ tokens or not?

Guy

As a first step, we are planning to make only a fixed price swapping ratio since the goal of the platform is to act as a decentralized launchpad platform for unlisted tokens.

At a later stage, if there will be a need from the users to get bidding pools for tokens, we can implement it. We believe that this will be first implemented on the NFT Poolz section as a reverse bid auction. There are really endless options to “play” with the rules of the pools. We will always try to select the options that will be used most by our users

Limmy

Community input is important — good to know that there is flexibility in the development roadmap :)

We always read about the “2-layer protocol” but Poolz has a “layer-3” swapping protocol. Can you please explain how a 3-layer protocol works on your platform, and what the difference is between this and a 2-layer protocol?

Liam

Layer 3 is the place where general applications developed on the second Layer could be used for developing specific solutions. Using smart contract or atomic swaps or lightning networks for APIs, developers can integrate and build applications that serve a narrow and specific function. Decentralized Finance (DeFi) is one of the applications built on the third layer.

Layer-2, on the other hand, is an overlaying network that lies on top of the underlying blockchain. Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system.

Limmy

I understand that the advantage of Poolz over other DeFi protocols is the liquidity in the previous phase, right? That’s cool, but why not start from the previous phase with the complete DAO System (Q4 2021) like the other protocols? Wouldn’t that give them a greater advantage to achieve adoption over the competition?

Guy

First of all, it’s not just the liquidity, it is the user base — both project owner and investors. Yes, we can spend 6 months (give or take) to make all our technical dreams come to life, but then we are still in the same situation. We need a user base. On the Poolz platform, we can grow our user base effectively and provide them our MVP to see what they are using and what they are not. so the final product will be a good fit.

Additionally, blockchain technology is moving fast! It is hard to guess what will be there in 6 or 12 months. We decided to move with our plan but we can adjust that in the future to fit the needs of our users.

Limmy

6 months is an eternity in crypto haha

Guy

Equal for 20 years in the real world, but patience pays off

Limmy

Given the poolz platform handles liquidity from project owners and investors, it is important that the smart contract(s) have the absolute highest security.

Will there be audits to ensure the smart contract is flawless and ready for deployment? Assuming there is, who will be doing the audits?

Stan

More than anyone, we are concerned about the security of our smart contracts. We have spent hundreds of precious hours building a project that is value-oriented and safe for all users. So, the safety of our smart contracts is a top priority for us. That’s the reason we chose one of the best audit companies to work with us — Arcadia Group.

Arcadia works with some of the most innovative and fast growing companies & projects in the crypto and blockchain space. We received a warm recommendation about Arcadia from our partners from TomoChain. So, we have full confidence to use their services to ensure the safety of our contracts.

For Poolz smart contract audit, Arcadia Group’s focus is to verify that the smart contract system is secure, resilient, and working as per its specifications. The audit activities can be categorized into three sections:

1. Security — Identify issues related to the security within each contract as well as within the system of contracts.
2. Sound Architecture — Evaluate smart contracts architecture through the use of established software and best smart contract practices.
3. Code Quality — A complete review of the contract source code, with a focus on correctness, readability, sections of code with high complexity, and quality of test coverage.

Moreover, when the audit is done, we will share an informational blog post regarding that.

Limmy

The involvement of a well-known auditing company does go a long way to ensuring investor and network participant confidence!

Ok this next question also has your name all over it Stan :P

The technical detail section mentions homomorphic encryption which provides a secure OTC trading platform. Can you expand on this, and briefly mention where homomorphic encryption has been used most successfully?

Stan

Guy can take it… he knows as much as I. #oneteam

Guy

Lol. thank you Stan

I think the best use case of homomorphic encryption is in EIP-2612. The Permit function is using some encrypted data that makes calculations on the data without decrypting it fully. Poolz will have this implemented in the system in later updates. Homomorphic encryption is not new, but it’s still an experimental technology. We need to use it carefully.

#oneteam

Limmy

How do you intend to prevent vote-buying and other assorted whale-games in your governance model? This is not clearly defined in the white paper from what I can see.

Guy

Launching as an administered platform in the MVP stage, Poolz will transition to a fully-decentralized community governance model based on the PoS consensus mechanism.

The model will come in a future update to the platform. To get the status of Poolz holder, you need to have a small amount (80 on this day, but it can change upon launch). After you pass this threshold. we still need the “whales” they will get better staking percent but still, right now, the vote count is 1

As such, POOLZ token holders will have a say in product features, token utility, auction types, platform fees, conditions for pool creation, the terms of governance, as well as the platform’s future plans and trajectory.

Limmy

Ah right so in it’s initial phase, it will be a single vote per user above a certain holding — cool

Thanks Guy.

Final question before we open it up!

What is your marketing strategy and budget to get founders to use your platform for capital raising vis a vis other platforms and private groups?

What is the total addressable market (TAM) and the market share you expect to take away from the traditional VC model?

Liam

First, as we see the picture, our mission is to gain trust as a company. I think we’ve been successful in meeting this goal. The company has in recent months, created significant collaborations with major companies and well-known investors in the industry. This has helped us validate our project and product.

Another aspect is the level of exposure of Poolz. Companies need to understand that when they are doing their sale on Poolz, they have tremendous exposure that will help them raise the capital they need. There is no doubt that the collaboration with The Foundry helps us in this matter.

Regarding our go-to-market strategy:

Step 1 — Before token listing

• PR with Market Across — the best PR firm in the blockchain and crypto space. They are working with Binance, Polkadot, Tron, among others.
• Our Advisors — Partnerships with Layer 2 Blockchain Protocols- Co-marketing, audit (Arcadia group) using Blockchain Labs/Incubateurs- The Foundry, Tomochain, and more to be announced.
• Testnet Bug bounty is scheduled for next week ,Local Telegram communities (the largest ones are our investors 🙂

Step 2 — Before Platform Live

• Referral program
• Biz-Dev Daily research in order to locate companies early and offer them to manage their sales on Poolz platform. Research media
• Target B2C / B2B
• First Pool on Poolz Platform- Create a “momentum” from this successful IDO,
• Weekly — Email campaign, Social Paid Campaigns, Staking & Governance models, Staking / Governance strategic users, Viral Marketing using B2B ,additional exchanges listing involving trading competition.

Limmy

Do you plan to have an ambassador program as well?

Liam

You always think one step ahead:)

Limmy

Maybe you can add me to your advisor list hahah :P

Do you have any plans to attract non-crypto investors to Poolz? One could argue that the success of a project depends on attracting investors who are still not in the crypto world. What are your plans to increase awareness about POOLZ outside of the crypto space?

Guy

It is a possibility we are thinking of when looking at the company’s long term. To bring non-crypto investors into the crypto space will be an exciting journey and we’ll surely embark on it. We’ll do that to grow the blockchain ecosystem as well as our platform. But, as our first step, our target will be to establish Poolz as a major platform in the blockchain and crypto space.

Limmy

Fair enough — gotta walk before you can run. We at the Foundry will be with you every step of the way!

Final question before we open it up:

In the roadmap, it is mentioned that synthetic tokens will be included in Q2 2021. What is the role of synthetic tokens in the Poolz platform?

Stan

There are a few aspects of the synthetic tokens. The vision is to allow moving tokens between different networks and implement the synthetic mechanism to provide the solution. It will offer and allow the project owner to manage sales in multiple chains at the same time.

The synthetic token plays a big role in the bridge system. When we transfer a token from chain A to chain B, on the other side it will be a “synthetic” token that is linked to the original token via an equilibrium system that will ensure the correct value of the token on both sides. The synthetic token is an upgrade of the token factory system.

The token factory makes the synthetic token

Community member

Most of the farm coins suffer from high APY and are constantly printing new tokens. For example… I farm $POOLZ, Receive more $POOLZ and throw away my extra tokens. Most of the farm coins have failed and will fail on Token Metrics only. How do you offset the selling pressure?

Stan

This is a good one, thanks ! I was thinking the same. In the white paper there is a section about token burn. we cap the token to 5M and burn 1M.

Community member

What benefits [are there] for POZ token holders?

Are investors only governance eligible in Poolz as Liquidity Providers?

Because most priority in POOLz are private investor’s?

Guy

Hi, nice to meet you.

So first yes, as you said governance will be one of the POOLZ token holders benefits.

*The are numbers of use cases, while the most topics are:*

- Access to exclusive pools: As already mentioned, every pool on the platform is limited to POZ token holders for an initial duration after its launch.

- Access to better swap ratios: Exclusive pools also offer special discounts for POZ token holders, thus enhancing the possible returns for liquidity miners.

- Governance: The Poolz platform will implement a regular Proof of Stake (PoS) consensus mechanism, enabling POZ holders to gain voting rights by staking their tokens as designated wallets. In general, the mechanism will involve limited-period staking, to be defined in detail at the time of the platform’s governance launch.

- Staking: POZ token holders will be able to generate annual passive income from their POZ tokens, by staking them in specific ERC20 wallets. As an incentive, POZ holders will gain staking rewards (discussed under allocation).

Community member

What was allocation in private sale ? Of Total supply. What is the vesting period in private sale?

Liam

Hi!. Yesterday, we published the official article which includes a full and detailed explanation regarding our taken metrics, including private sale allocations, total supply, and vesting periods of each round.

You can find the relevant link here:

https://poolz.medium.com/announcing-the-official-poolz-token-metrix-fd9a4089c5c9

Community Member:

[Are you] working on Gas Fee Minimization? What model do you have to reduce gas fee?

Because swapping and nft auction and nft interaction we need more gas fee .

Guy

Our code architecture is clean, modular, and decluttered. Following a minimalistic approach to code development, the platform ensures resource-optimization, such that only the essential data is anchored on the blockchain and in the best-suited format. Together, the practices ensure perfectly balanced and minimal gas fee for transactions on the Poolz platform.

Community Member

What do you think if Ethereum starts to choke, DeFi will move to a new platform? And what is POOLZ’ strategy if that happens?

Stan

We can work on other chains. (we have live tests on 4–5 right now). At this point it’s easy for us to change chains. You can see in the app link how simple it is to be on Rinkeby and TomoTestNet on the same page. I don’t believe “Ethereum starts to choke’’. but if it’s true — we are ready.

Community Member

What will be the benefit of those providing liquidity to the platform? Who can be a Liquidity Provider?

Guy

Hi, I like your question.

Out of the total supply, 800,000 POOLZ tokens (16%) will be allocated as swapping rewards for liquidity providers participating in pools listed on the platform. Swapping rewards will be available for 10 years, releasing 80,000 POOLZ per year (1,539 tokens per week). However, in the future, governance may decide changes to the vesting ratio, as well as the reward mechanism (discussed under ‘Liquidity Provider or Investor’s Flow’).

Mechanism: In proportion to their contributions, liquidity providers will gain a percentage of the total liquidity deposited over the current week. Swapping rewards on the platform will be calculated and disbursed every 4 hour and in weekly cycles. Suppose, LP (A) contributes to Pool (1) in the first 4-hour slot of Day(1) — Week(1). Now, if LP (A) is the only investor during this period, he/she get 100% of the swapping reward for that slot. Then, say, on the third 4-hour slot of Day (2) — Week(1), LP (A) would still be eligible for swapping rewards, but in proportion to the total liquidity deposited in the meanwhile. Likewise, LP (A) continues to get some reward for the remaining week.

Again thank you all, Foundry Team, DuckDAO and Ferrum. It was a great pleasure to be hosted in your group. Hope we answered all of your questions as our time is limited. We were not able to answer everyone but please feel free to DM us if you have more questions.

Poolz Team 💫

Limmy

Guy, Stan, and Liam — thank you so much for your time today/tonight and for the insightful answers given to our community. We look forward to taking part in the Poolz Finance journey as partners going forward.

Everyone — if you haven’t already, please join the Poolz TG channel and stay up to date (And to ask the team any further questions you may have):

https://t.me/PoolzOfficialCommunity

Foundry Details:

Website: https://thefoundry.one/

Twitter: https://twitter.com/TheFoundryOne

Telegram: https://t.me/joinchat/It2yDEvaEN2jPJ3arx3PlQ

DuckDao Details:

Telegram: https://t.me/joinchat/It2yDE3QPPTw9JLLMHLXKA

Website: https://duckdao.io/

Twitter: https://twitter.com/dao_duck

Medium: https://medium.com/@duckdao

Ferrum Network Details:

Website: https://ferrum.network/

Telegram: https://t.me/ferrum_network

Medium: https://medium.com/ferrumnetwork

Twitter: https://twitter.com/FerrumNetwork

Reddit: https://www.reddit.com/r/FerrumNetwork/

YouTube: https://www.youtube.com/channel/UCN658dMRTaH4C4dP32VHi6Q

Poolz Finance AMA was originally published in DuckDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.

SpiderDAO — A Summary

Fair and Resilient Hardware-based DAO

SpiderDAO innovates on the DAO concept by introducing a dual-governance model which bundles together hardware and software tools with on-chain elements, providing a “whale-resistant” governance solution. SpiderDAO is underpinned by the Polkadot consensus mechanism and will utilise a network of hardware routers deployed by DAO participants as a “ticket” for election voting.

They aim to establish a new set of standards for DAOs to counteract the unfair distribution of voting power in traditional DAOs caused by large investment bodies accumulating governance tokens to buy voting rights and skewing elections for private gain.

Key Features

• Hardware-enabled DAO voting process — First of its kind hardware-enabled decentralized voting process with safeguards in place to ensure hoarding of hardware devices is instantaneously detected by the network
• Whale-resistant dual-governance model — SpiderDAO transfers the voting eligibility rights from solely the token to a dual off-chain — on-chain mechanism. This makes it more challenging for large entities to disproportionately influence the elections without incurring significant costs.
• Access to a decentralized VPN service — SpiderDAO will first be integrated with SpiderVPN, providing owners of the SpiderConnect Routers with access to a decentralized VPN service granting full online anonymity and a host of premium features.
• “Liquidity as utility” token model — SPDR token utility expanded to LP tokens enabling holders to simultaneously benefit from LP fees, liquidity mining and VPN services.

Website: https://www.spiderdao.io/

Telegram: https://t.me/SpiderDAO

Twitter: https://twitter.com/spiderdao

Medium: http://medium.com/@spiderdao

Participants:

SpiderDAO — Nathan Varty — CEO

SpiderDAO — Žiga Flis — Co-founder

SpiderDAO — Anas Sayed — CTO

DuckDAO — Limmy — DuckDAO community representative

Please note that the following summary has been edited for clarity.

Limmy

Ok guys — Welcome everyone to another DuckDAO AMA!

We are joined today by Nathan Varty, Žiga Flis and Anas Sayed from SpiderDAO.

Thank you very much for joining us today gentlemen! On behalf of the DuckDAO community, welcome to our channel.

Nathan

Hi, Thanks for having us

Žiga

Hello everyone!

Anas

Hi Limmy, Thanks for hosting us today, We are looking forward to a great AMA ahead!

Limmy

Fantastic :)

Let’s start with an introduction from each of you — tell us about yourselves. What are your backgrounds, and how did you find yourselves in the crypto space?

Nathan

Hi, my name is Nathan, and I’m the CEO at SpiderDAO. I am an experienced entrepreneur with a background in IoT Development and Operations. I have been successfully leading SpiderVPN since its inception in 2017, growing the business to over 6000 users across 18+ countries. I have been running non-blockchain companies since the age of 17, leading to over 20 Years plus experience in total. I have been involved in crypto since 2014, I was involved in some bitcoin mining then I moved over to do some Ethereum mining in 2016 the funds I made doing this mining helped to start SpiderVPN, so this would never have happened without crypto.

Limmy

Since 17! Wow

Nathan

Yes it’s been a rollercoaster of a journey but certainly enjoyed it !

Žiga

Hi, My name Is Žiga before co- founding SpiderDAO, I was the Chief Technology Officer at RiveX, where I spearheaded the development of various blockchain solutions. I am experienced in on and off-chain technologies and I have a passion for developing decentralized solutions. I got into crypto around 2015 when I mined BTCs with my dual-core CPU. After a few months, I shut it down and started researching the technical side of blockchain. Then Ethereum launched at the end of July and I started getting more into it from a technical point of view. After that, I started developing the Ethereum blockchain.

Anas

Hi, I am Anas the CTO at SpiderDAO. I have been in the networking field for many years and have already had experience in running different projects and driving them to success and I am always eager to bring the best ideas & new tech wherever I can. My time management skills got me where I am now working with market-leading clients and this makes me confident and ambitious that SpiderDAO will follow to be the next big thing. I have also been involved in different R&D projects with Hisilicon, FuboTV which are now deployed to very high profile companies. I got into crypto by chance in 2011 when one of my friends introduced bitcoin to me and how that is going to be the future just like what we did with Android since version 1.0. I have since explored blockchain technology and started trading in 2015 than mining in 2016 and I have also written some mining modules to use GPU cores which executes a lot more processing power when mining.

Limmy

Early adoption seems to be a common thread for all the guests that we have in here. I sometimes ask myself what you’re doing still working when you had access to BTC at such low prices haha

A sure sign of a driven individual(s)

Ok let’s dive right in!

Our first question:

I am currently using VPN services such as NordVPN and ExpressVPN. What is the key feature in using dVPN from SpiderVPN and why should I be using them instead of these existing services?

Nathan

We all have a drive for innovation this really is what motivates our team

Anas

The decentralized VPN increases the users security and privacy compared to using a centralized one. Additionally, we don’t make any shortcuts on speed and reliability. We are absolutely competitive in these areas and even beat most of the known VPN providers. However, with SpiderDAO we are able to add features none of our competitors can. I mean, selling your bandwidth, getting passive income and at the same time taking part in the democratic decision making process through our DAO is surely nothing we can see with any other competitor.

Limmy

I see — so this isn’t just one of those companies that are out there looking for a problem to solve by tacking blockchain onto something (obviously :P we wouldn’t have you here if this was the case haha). I’ve seen many cases a disruptor creates a token or platform just for the sake of having it on the blockchain.

I must say I used a VPN and haven’t reaaallly looked too carefully into how they are handling my data — I’ve just assumed it’s safe…

Nathan

Yes this has real use cases solving real problems and helps the open source community with our knowledge and experience.

Anas

You need to always be very careful in this current era we are living in especially when it comes to your privacy and security as spams & scams are everywhere and most centralized VPN providers are forced to give out details if the authorities requested it which is why our dVPN is there to tackle this issue

Limmy

Very true — I get nervous whenever I do ANYTHING related to my crypto. I’ve taken many precautions as well

Ok next question:

Could you please confirm that everyone needs a router to participate? What is the cost of the router and are they transferable if you leave the DAO?

Nathan

Yes that’s correct. You will need to have 1 router + SPDR token in order to take part in our DAO operations. The SpiderConnect router would cost 60$ or for free if you invested 2000$+ on our private sale. You can transfer the SpiderConnect router to someone else after resetting the device so all your details can get cleaned up so we can add the new owner details in.

Limmy

Is the transfer process complex or quite straight-forward?

Nathan

The process has been made as simple as possible, for example like resetting the router and passing to a friend to create a wallet and register it with us.

Limmy

Great, sounds simple enough

The privacy you provide can create legal problems. Some exchanges are removing privacy projects from the list due to government pressure. What can you say about that?

Nathan

Our customers privacy is paramount and we cannot sacrifice that for taking part into any exchanges and that was our rule of thumb since the beginning when we did the dVPN network however we won’t allow illegal traffic and malwares throughout our network which will be using both our ad blocking and dpi filters techniques.

Limmy

Fair enough — in this age of DEXs who even needs exchanges xD

SpiderDAO Introduces “Whale-Resistant” Blockchain Governance in an article published on the 9th of December.

This means that in order to vote, SpiderDAO members must have a SpiderConnect Hardware Router connected to the SpiderVPN as well as a minimum amount or staked tokens. Votes are then weighed by ownership of hardware instead of only taking into account the amount of currency owned by each user. The result is a “one router, one vote” system.

My question is what stops a whale from purchasing 10,000 routers and manipulating the system?

Anas

We are aware that whales/bots can buy more routers using new wallets to try and affect the governance model, but that will come at a heavy cost for adding more routers and also have to wait for a period of time deemed reasonable to the DAO. Users must have active transactions on the wallet before being able to vote to make sure bots and whales won’t get access with ease. We will be keeping a log of every MAC Address and serial number for every router we add to our inventory, this we’ll be added to an on-chain ledger or on-chain database. This will help us to identify any clone or anyone trying to spoof/manipulate the hardware.

We will also be in constant contact with the growing SpiderDAO community and the open-source community for beneficial ideas on how to make the governorate safer and more resilient to whales-resistance. If the essential data is not matched to the end-user and they try to spoof or manipulate access. There will be 3 warnings followed by a ban from taking a part in our governance model for a limited time(still to be decided). The ban time will be increased systematically based on the number of times this is identified until the customer is banned indefinitely if the infringement persistently continues.

Limmy

Right, so this is one of those scenarios where it is theoretically possible to do so, but in practice near impossible due to the difficulty in simulating many distinct users across all the devices and network activity etc.

Anas

Precisely, you nailed it!

Limmy

Ok so our next question is quite a long one

Via the SpiderMarket on the SpiderDashboard, it will be possible to trade one’s bandwidth in exchange for SPDR tokens. Will individuals who do so possibly expose themselves to legal consequences in their local jurisdiction, if evidence of a crime could be traced to their IP should a bad actor use the dVPN services for something illegal?

That is to say, in general, if a company such as a VPN or an ISP does not monitor data or keep logs on those who use their services, then there is no basis for authorities to serve a warrant or enforce other penalties; the individuals in your ecosystem, of course, would not have access to the data that they transmit, but would they be similarly protected from other penalties, especially with the greater exposure of acting as an individual rather than a corporation?

(Not that we are condoning any illegal activity of course)

Nathan

All traffic going through the user’s node will be encrypted at both ends “the entry and exit nodes” and is only decrypted at the end of the tunnel which will also go through our DNS services to avoid any requests being leaked plus our DPI filters which will be used to stop any malicious traffic like spam/portscan/DDoS going through you home network. Users will also have the option to enable/disable traffic like BitTorrent going through their network.

Limmy

So users will have the utmost security available to them. What they do with that protection is up to them

Nathan

Yes, however we try to make it as easy as possible for people of all technical ability.

Limmy

Fantastic

With online crime growing exponentially by the day, how much time and work is being put into maintaining the security of the VPN? (looking for vulnerabilities, exploits, etc.) and what type of technology in terms of security of data, does the VPN currently use?

Anas

We are using our own software firewall setup based on iptables to secure the routers and are updated regularly addressing any new reported security issue including exploits & vulnerabilities in the market and we are planning to include the latest firewall setup as a part of our cloud based infrastructure in the future which can be applied to the router automatically to keep it always safe without having to do a firmware upgrade instead.

Limmy

Thanks Anas.

For our next question, we look to the future.

What does success look like for SpiderDAO? And what is the long term vision 3–5 years from now? How will you execute on that and make it a reality?

Nathan

We will start off by deploying our solution to our already existing SpiderConnect routers in the market with 6000+ users using our VPN network and growing exponentially so we believe it will just be more successful from this point onwards with us integrating blockchain technology into the mix plus our DNS geo-restricted unblocking service & Ad blocker plus SpiderDAO operations and sharing your bandwidth with others across your home network. We see ourselves helping crypto adoption to normal non-techie home users with us extending our custom operating system to more vendors/models to take our users from thousands to millions in a few years.

Limmy

Beyond the DAO voting, one of the most exciting aspects of the project is the dVPN. While preventing data leaks similar to NordVPN seems straightforward, it also appears that you intend the dVPN to be faster than a traditional centralized VPN.

How do you intend to maintain and monitor decentralized players to offer a consistent, higher standard that is superior (or even sufficient) for high-bandwidth, low-latency applications like video conferences or online gaming?

Nathan

Yes and that’s why we were one of the first providers to adopt wireguard VPN protocol into our network and the fact Wireguard is kernel based module that communicates with the operating system user-space makes the speed loss is very minimal which we also improved using our offloading techniques to the point where we have customers who achieved around 90%+ of their original speeds when connected to our VPN network. Doing that along with our DNS unblocking and ad blocking services is making our solution much safer and providing more security while not sacrificing speeds which is the combo we are looking for for our customers.

The important points is…. its fast and secure

Limmy

That’s a pretty technical answer — I think I’ll have to do some googling after this session to really wrap my head around it haha. I can see that the important aspects are being focused on — security without sacrificing speed.

Final question before we open it up for everyone. This one is something that comes up a lot:

Most investors focus only on the price of the token in the short term instead of the real value of the project. What are the benefits for long term investors?

Nathan

Yes we are aware that most of the people focus only on the price of the token, This is why our approach to the private sale was in sort of a unique way, we tried to approach people who expressed genuine interest in the project in good faith that this would help the project in lon1g term, but long term investors will also have benefits in participation in the LAU concept & they will have access to all the extended features of the upcoming Spider Dashboard, which one of the more interesting ones will be the monetization of bandwidth that would allow you to create passive income with the help of the SpiderConnect router.

Limmy

I am really intrigued by the monetization of bandwidth features. Especially now that many online games have 100000 TB patches haha

Ok we’ll now open the chat for those that have any further questions they wish to ask the team. Thank you guys so far for the excellent answers you’ve given to our community questions so far.

Please take your pick out of any questions that are submitted and we’ll finish up once you’ve answered them or you run out of time.

To our community:

Please keep the questions nice and concise — don’t throw a wall of text at the team please! I’ll close it up again when we get a good number to choose from.

🐥

Why does SpiderDao incorporate on-chain and off-chain consensus mechanisms? What is the benefit of this incorporation?

Nathan

We will be keeping a log of every MAC Address and serial number for every router we add to our inventory, this we’ll be added to an on-chain ledger or on-chain database. This will help us to identify any clone or anyone trying to spoof/manipulate the hardware. We will also be in constant contact with the growing SpiderDAO community and the open-source community for beneficial ideas on how to make the governance safer and more resilient to whales.

🐥

There are so many VPNs that do well in the market right now, why is a decentralized VPN platform better than centralized? What are the advantages of SpiderDao VPN?

Žiga

The decentralized VPN increases the users security and privacy compared to using a centralized one. Additionally, we don’t make any shortcuts on speed and reliability. We are absolutely competitive in these areas and even beat most of the known VPN providers. However, with SpiderDAO we are able to add features none of our competitors can. I mean, selling your bandwidth, getting passive income and at the same time taking part in the democratic decision making process through our DAO is surely nothing I can see with any competitor.

Nathan

Centralised (VPN) services route all end-users’ internet traffic through a remote server(node) owned by a company (normally a centralised firm), routing all end-users’ internet traffic through a data centre. The end users Data could be checked by the company which is not provable to the end-users that this is a non-logging service. Decentralised (dVPN) services route all end-users’ internet traffic through a decentralised remote server(nodes) owned by the community. This still routes all end-users’ internet traffic through the community node. The end users Data could not be checked by the company as the node is owned by the community contributor this then provides a provable non-logging service for the end-user.

In simple terms, a decentralised VPN is run by the community, whereas a Centralised VPN is run by the Company. A dVPN will show complete transparency of the code base and will be available for full provability, and distributed nodes across the globe, enabled by the community, allow users to choose the optimal servers based on geographic location and speed.

🐥

When can we expect polkadot network to start using hardware based dao features 😁 Will polkadot mandate all voters to onboard on spiderdao first ?

Anas

That would be in Q2 2021 where our customers will start to see the DAO operations into their routers and we are working closely with the Polkadot ecosystem to achieve that. Voters can use both Polkadot or cross-chains platforms to take part into the governance.

🐥

Does SpiderDAO have a good solution to balance security, efficiency and privacy protection data?

Nathan

Anas has covered this here. We are using our own software firewall setup based on iptables to secure the routers and are updated regularly addressing any new reported security issue including exploits & vulnerabilities in the market and we are planning to include the latest firewall setup as a part of our cloud based infrastructure in the future which can be applied to the router automatically to keep it always safe without having to do a firmware upgrade instead.

🐥

How can I make money from bandwidth? What incentives will the community receive from SpiderDAO?

Žiga

In layman’s terms: You can join the DAO and set up your Router as part of the dVPN (Decentralized VPN). Others will then be able to use your bandwidth for which you get paid. Once the feature is fully developed, you will have the ability to turn your router into a node and create a passive income while you sleep. These features will be available on our SpiderDashboard.

🐥

What difficulties have you encountered during your development process? Can you say some highlights from them? What was your motivation for creating this project?

Anas

The main difficulty we can say is the challenge to make it as easy as possible for our customers to do use our routers and coming into the blockchain world the challenge would be how to make DAO & wallet operations in addition to our next features going to be added the easiest possible for our non-techie users.

We believe in everyone’s security and privacy and having services without any restrictions and that what’s the free world and internet is and we have seen many customers along the road disadvantaged getting in touch with their loved ones for example cause China didn’t allow something or cannot make a WhatsApp call cause the providers didn’t allow it and that’s where the SpiderDAO great power comes from to make your life easier and safer.

🐥

Many crypto projects are often attacked by hackers. How can you ensure SpiderDAO has strong security and privacy to prevent hacker attacks?

Anas

Our data security and encryption is the highest priority for all of us here at SpiderDAO — we care a lot about this and [this is why] we have deployed many aspects like the ad blocker, strong firewall & dpi filters to make sure our customer’s internet safety and security are secured with our always evolving features

🐥

Great user experience is important to all customers, what solutions does SpiderDAO have to improve user experience?

Anas

We have a group of beta testers ranging from completely non-techie all the way to very techie customers to help us get the best UX experience for our customers. We are planning to expand that group to include our interested community members to be an active part of our future development plans and be hands on on the features we are going through our roadmap and beyond

🐥

How secure is the company financially?

Nathan

We are very secure! while this is an ongoing project with many R&D modules to be implemented and that is costly when you work with the best development teams. When it comes to our tech we don’t want to make any compromises as a truly unique experience with your home network is our highest goal.

Additionally, our target group are end users and we don’t have the intention to ever charge high subscriptions fees. To stay competitive, and increase the market share in our niche, we will have significant marketing spendings. We are pioneering in our niche but pioneering means nothing when you are not on the radar. To put us on the radar of everyone, we simply need significant funds. I want to emphasize that we did not randomly choose the fundraising amount but in coordination with our development and marketing team.

Limmy

Ok guys I think this is a good place to end this session.

Thank you guys so much for your time today

I look forward to sticking it to my ISP and their $&@)&$ing data caps haha

Anas

Exactly haha, We are looking forward to setting everyone free from ISPs and countries restrictions while being safe!

Nathan

So I want to thank you guys again for hosting the AMA with us. To join the community and benefit from our ecosystem, I would like to invite everyone to our channel https://t.me/SpiderDAO where we will later on announce the winners of 3 best asked questions from the AMA who will receive a free router!!

Anas

Appreciate it and thanks to the whole DuckDAO community for taking part in our AMA. We look forward to you joining us on our journey!

Limmy

Yes — make sure that you guys all join the SpiderDAO TG channel!

DuckDao Details:

Telegram Channel: https://t.me/joinchat/It2yDE3QPPTw9JLLMHLXKA

Website :https://duckdao.io/

Twitter :https://twitter.com/dao_duck

Medium: https://medium.com/@duckdao

SpiderDAO AMA was originally published in DuckDAO on Medium, where people are continuing the conversation by highlighting and responding to this story.