First DealFlow NFT — DuckDAO Launches on Only1
Decentralised VC on Solana. Who would win? One VC or a 500 ducks?
We are excited to announce DuckSquad — DuckDAO DealFlow NFTs will be launching on Only1 on 30th December 2021.
DuckDAO is a decentralised incubator that helps promising projects achieve their full potential by democratising access to early-stage investment opportunities that were previously available only to well-heeled investors and venture funds, opening up the closed ecosystem of early-stage crypto project investments to everybody. And DuckSquad is the NFT under DuckDAO that grants user access to deal flows in Solana.
What are DuckDAO NFTs?
Projects provide DuckDAO users with a seed or private round allocation of tokens which is distributed to those who have joined DuckDAO’s token-permissioned Telegram communities. This is achieved through the DuckSquad NFTs.
🐥 DuckSquad Utility: There are 500 NFTs with a special attributes — The Quack Quack Balloon(can you spot it below?). Holders get exclusive Access to DuckDAO private telegram group and have opportunities to obtain allocation to Solana-based projects seed/private deal flow of 5 shares. For the other 2500 NFTs without Quack Quack balloon, holding them increases Deal flow to Solana-based projects by 1 share (Given that you have access to DuckDAO Private Groups).
Example: Oliver has 2 DuckSquad NFT with Quack Quack Balloon attribute and 1 Ducksquad NFT without. He can enter the DuckSquad private telegram group and get allocated 0.36% of total allocation per deal flow. (5 + 5 + 1 = 11, 11/5000 = 0.22%) Therefore, a deal comes through to invest in Duckaverse project (Disclaimer: not a real project) with $100,000 total allocation. Oliver gets to invest $220.
Initial NFT Offering (INO) details:
- Quantity: 3,000 NFTs
- Price: 1 Sol
- Model: Lottery for allocation
- NFT per winning ticket: 1 DuckSquad NFT
For details, please visit here
Step 1 — Sign in & stake on Only1.app to be eligible for tickets
Go to only1.app , sign in by connecting to your wallet to be eligible for tickets for the lottery if you satisfy the below staking requirement
- 7-day LIKE staking required prior to ticket deposit opens, and it has to remain staked until ticket deposit has opened. Every 500 LIKE = 1 eligible ticket, maximum 5 eligible ticket per wallet.
- 7-day staking deadline: 22 December 2021, 00:00 UTC
- 3-day LIKE staking required prior to ticket deposit opens, and it has to remain staked until ticket deposit has opened. Every 1000 LIKE = 1 eligible ticket, maximum 5 eligible ticket per wallet.
- 3-day staking deadline: 26 December 2021, 00:00 UTC
- Even if an address satisfies for 5 eligible tickets for both staking deadlines, each address will still only have a maximum of 5 eligible tickets.
Example: Raj has had 2,500 LIKE staked before the 7-day deadline. He will receive 5 eligible tickets.
Step 2 — Deposit SOL to enter tickets into the lottery
Users will deposit 1 SOL per ticket to enter the lottery. Tickets without SOL deposit will not be entered into the lottery.
Example: Ray has 5 eligible tickets but he only deposited 4 SOL, only 4 out of his 5 tickets will be entered into the lottery.
Ticket Deposit opens: 29th Dec 00:00 UTC
Ticket Deposit closes: 30th Dec 00:00 UTC
Step 3 — Lottery
Lottery will take place shortly after the pool closes, each winning ticket will receive 1 DuckSquad NFT, and each losing ticket will get a 1 SOL refund.
Winning chance calculation: If total ticket entered is more than 3,000, then the chance is calculated by 3,000 / total entered ticket. If total ticket entered is fewer than 3,000 then all tickets entered are winning tickets.
Step 4 — Claim your NFTs and/or SOL refund
Users can claim using the claim button1 unique DuckSquad NFT for each winning ticket and are able to claim 1 SOL for each ticket that did not win.
Example: Raj deposited 4 SOL for 4 tickets and 2 were winning tickets. He would claim 2 NFTs and 2 SOL back.
Claim opens: 30th Dec 12:00 UTC
Only1 is an NFT-powered social platform built on Solana. We help creators monetize and allow fans to connect with the creators they love in a unique way, similar to a decentralized Patreon — read more on Create-to-Earn (C2E) here. Mixing social media, NFTs, DeFi and the native token LIKE, Only1 offers a Web 3.0 solution to creator economy and fan engagement.
The new world of decentralized social media is here, and it’s being built on Solana. Follow us to learn more.