Decoy FAQ | DuckDice

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02/15/23

So we launched Decoy Token today!

Lots of you have questions so here are some of the most frequently asked.

Decoy is not exchangeable at this time, however, you can immediately start earning with it by simply holding it and mining more, and claiming your daily staked profit.

We will be adding it to exchanges at a later date once a lot of the supply has been distributed and features developed around decoy fully. This will allow people to naturally find the value of earning via staking it, allowing a more natural price discovery.

Decoy is **not** eligible for mining, or any other bonuses except staking including leveling up e.g. qualified wager
You mine Decoy by wagering in all currencies except Decoy, 80% of your mined earnings will be locked for 180 days, and 20% will go to your Decoy balance
to Stake you do not need to do anything, except hold it! in the bank or main balance.
Staking is a system for passively earning Decoy Tokens. Every 24 hours the Staking pool releases 3% of the total profit, there is a minimum starting amount of $15,000
There is no time limit for claiming staked profits, it will not expire.

I will keep adding to this so please keep asking any major relevant questions :)

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fatass

my faucet is 6 cents

02/15/23

Can the devs put their 2.5 billion in the staking pool at any time? Is there a plan for this to make sure the value of the coin doesnt instantly drop to near 0?

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be kind to one another ;)

02/15/23

Revision said:

Can the devs put their 2.5 billion in the staking pool at any time? Is there a plan for this to make sure the value of the coin doesnt instantly drop to near 0?

I am certain the staking pool wont be added to by the dev share, the dev share is a way of limiting supply and sort of end goal profit for the site down the line when it is available through exchanges, adding to the staking pool our side simply wouldn't make sense as it'd hamper any chance of realising that value for anyone

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fatass

my faucet is 6 cents

02/15/23

bobstone said:

I am certain the staking pool wont be added to by the dev share, the dev share is a way of limiting supply and sort of end goal profit for the site down the line when it is available through exchanges, adding to the staking pool our side simply wouldn't make sense as it'd hamper any chance of realising that value for anyone

well eventually the dev share will end up in the staking pool. because even if they just sell it on an exchange at a later date, the person who buys those dev share tokens will then stake those tokens

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be kind to one another ;)

02/15/23

Revision said:

well eventually the dev share will end up in the staking pool. because even if they just sell it on an exchange at a later date, the person who buys those dev share tokens will then stake those tokens

which by that stage would be after the majority of the supply is in circulation and it would be more likely the dev share isn't tapped in too much too preserve some scarcity but this is all in speculation territory no

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fatass

my faucet is 6 cents

02/15/23

bobstone said:

which by that stage would be after the majority of the supply is in circulation and it would be more likely the dev share isn't tapped in too much too preserve some scarcity but this is all in speculation territory no

current staking pool is 45 million tokens and eventually full staking pool will reach 10 billion tokens

So if my math is right to maintain the current value of the token Duckdice would need to increase site volume by 22,222% correct?

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mod

What goes around, comes around

02/15/23

Thanks for much needed forum bob ❤️

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be kind to one another ;)

02/15/23

Revision said:

current staking pool is 45 million tokens and eventually full staking pool will reach 10 billion tokens

So if my math is right to maintain the current value of the token Duckdice would need to increase site volume by 22,222% correct?

the current value of the token is more like a optimistic place holder too allow mining / gambling with it to work on site as is (it requires a value)

obviously once released into exchanges that will change.

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mod

☯️bless this mess☯️

02/15/23

thanks for the explanation bob..

much appreciated.

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02/15/23

It seems that the placeholder pricing has been removed. Probably a good move to manage expectations.

What is the timeline for when there will be somewhere to trade the decoy tokens?
Centralized Exchange(Binance and such) or Decentralized Exchange(Pancakeswap and sushiswap and such) ? Or both?
Will there be any liquidity provider incentives?
Or will you take the path of protocol owned liquidity(which would mean that people would always be able to trade the decoy tokens because the lp token holders would be you guys instead of random people that will take their stuff and go home inevitably)? (Such as ohm etc)
Why are you using a contract with the token balance snapshot function?
Where are the tokens that players that are betting their DEC tokens and winning more coming from ? What part of the distribution is that? Or is this off -chain activity a possible way that the cap supply can be bypassed ?

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be kind to one another ;)

02/15/23

Fonz1 said:

It seems that the placeholder pricing has been removed. Probably a good move to manage expectations.

What is the timeline for when there will be somewhere to trade the decoy tokens?
Centralized Exchange(Binance and such) or Decentralized Exchange(Pancakeswap and sushiswap and such) ? Or both?
Will there be any liquidity provider incentives?
Or will you take the path of protocol owned liquidity(which would mean that people would always be able to trade the decoy tokens because the lp token holders would be you guys instead of random people that will take their stuff and go home inevitably)? (Such as ohm etc)
Why are you using a contract with the token balance snapshot function?
Where are the tokens that players that are betting their DEC tokens and winning more coming from ? What part of the distribution is that? Or is this off -chain activity a possible way that the cap supply can be bypassed ?

These are more advanced level questions which i will need to confer with the higher up admins about for the most part but i'll answer what i am immediately able too

1) timeline is mininum month, more likely months

2) initially focus will be on DEFI exchanges, then later bigger exchanges if it's feasible (think pancakeswap etc)

3, 4, 5, and 6 i can't answer without making too many assumptions so will direct your questions to be answered hopefully later in the week.

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02/15/23

Thank you for your clarifications. Can we look forward to the responses from those with more familiarity with the technical detail side of things to respond directly in this thread? It would be helpful to have all the information in one place so everyone can easily find it when they need to.
Also:
A. Are there plans to lock the dev share of tokens ? 25% is a lot of tokens to start with and if there is not some kind of rolling unlocking mechanism (like say that 1% of the 2.5bilion is disbursed a week and after 100 weeks or so all would be unlocked or instead in tranches to be unlocked on a quarterly basis in a pre-detetmined and publicly anounced and verifiable announced transactions that we can see the lock?
B. The name of the contract for the decoy token on chain is "ERC20ACBCS". What is the meaning of that and why is it named that ?
I understand that duck dice utilized a third party that performed an audit on the contract implementation for the Decoy token from Solid Group. Solid Group offers an "Audited token generator" service to generate your own token with no coding knowledge.
C. Did duck dice utilize this "audited token generator" and is that the audit that was performed a part of that product?
If it is, Why did duck dice decide to opt for third party solution for this token launch instead of in-house devs?
D. Located on the owner capabilities of the audit results page (for the audit you guys link to in the decoy token announcement page ) why is that page blank ?
E. Why hasn't solidgroup updated their GitHub repository of their audits to indicate that the were asked to do an audit of duck dice? Are there any plans on there part to add this?
Thank you for being so helpful and for answering these questions that I'm sure I'm not the only one to have thought of. I feel it's important to ask the questions that will lead to a better duck dice and increase confidence

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SUPPORT -here to help- :)

02/15/23

Fonz1 said:

Thank you for your clarifications. Can we look forward to the responses from those with more familiarity with the technical detail side of things to respond directly in this thread? It would be helpful to have all the information in one place so everyone can easily find it when they need to.
Also:
A. Are there plans to lock the dev share of tokens ? 25% is a lot of tokens to start with and if there is not some kind of rolling unlocking mechanism (like say that 1% of the 2.5bilion is disbursed a week and after 100 weeks or so all would be unlocked or instead in tranches to be unlocked on a quarterly basis in a pre-detetmined and publicly anounced and verifiable announced transactions that we can see the lock?
B. The name of the contract for the decoy token on chain is "ERC20ACBCS". What is the meaning of that and why is it named that ?
I understand that duck dice utilized a third party that performed an audit on the contract implementation for the Decoy token from Solid Group. Solid Group offers an "Audited token generator" service to generate your own token with no coding knowledge.
C. Did duck dice utilize this "audited token generator" and is that the audit that was performed a part of that product?
If it is, Why did duck dice decide to opt for third party solution for this token launch instead of in-house devs?
D. Located on the owner capabilities of the audit results page (for the audit you guys link to in the decoy token announcement page ) why is that page blank ?
E. Why hasn't solidgroup updated their GitHub repository of their audits to indicate that the were asked to do an audit of duck dice? Are there any plans on there part to add this?
Thank you for being so helpful and for answering these questions that I'm sure I'm not the only one to have thought of. I feel it's important to ask the questions that will lead to a better duck dice and increase confidence

🤓 much technical, will try to get you answers as soon as pract possible