Why you should avoid investing in Duck Dao
DuckDao is one of the, now many, crypto platforms that promise crypto investors an opportunity to invest in new projects. For such privilege Duck Dao asks you to stake for a period of 3 months at minimum 2,000 DUCK tokens, or 5,000–10,000 and 20,000 for higher tiers. With the DUCK tocken hovering around $2 , for what it seems forever, this amounts to asking people to invest between $4,000 to $40,000 for just a chance at an investment, that most people will NEVER get the opportunity to get.
Unlike other networks, Duck Dao does not incentivize you with anything when you invest in their network with your token, so you get NOTHING in return for staking your $4,000 to $40,000 in DUCK with them for the 3 months! In fact, Duck Dao will punish you with a penalty of 30% fee on the DUCK you stake, should you want to retrieve your tokens before the 3 months staking period is over!
I have so far participated 4 times with Duck Dao, and all four times they have been some issues with their system. The last time I have tried to participate was exactly 29 minutes ago ( it is 14:29 UTC on March 6th 2021, as of this writing). We, the network of people holding DUCK, were trying to farm some 250 tokens each for the chance at earning some Tango tokens a few days before their IDO. They were 132,000 total Tango tokens for 50,000 DUCK tokens to be staked. At 250 DUCK each, means you are investing about $500 to get 660 TANGO tockens, placing the value of each TANGO token at about $0.75 each. Add to that gas prices to allow staking, then stake and the gas you have paid to get the tokens, we are talking about $1.00 cost give or taken on average! This number is very expensive and close to triple the presale price, for a token that is not even listed yet!
That said, the deal today which was scheduled at 14:00 UTC was over at 14:00:30 ! sold in 30 seconds ladies and gentlemen! Apparently there are enough of us idiots out there wanting to get in such deals, because the assumption is that such tokens will be valuable in the future, even if these numbers make no sense at all! Since it is obvious that DUCK DAO is oversubscribed. They oversold tokens and they are offering very little incentives to their token holders.
At least today the problem was just that it went way too fast, even if the catcha wasted a lot of time for people, at least today it worked. Not like the first two times when their systems captcha system was not even working, or the third time (yesterday) when they had to postpone the “event” until tomorrow because, from what they said they were being attacked with a DDOS attack, and their server was shutdown.
These things perhaps happen to all organisations that are understructered such as DUCK DAO, but really the worst part is that their staff in the telegram groups are some of the meanest and rudest people you will ever encounter in your life. Just visit their groups, and read through the chat history. You can see these “anonymous” admins, to which people have handed millions of dollars to, being really rude and in an obnoxious way menacing and threathning their own customers!
I absolutely DO NOT RECOMMEND, that you deal with DUCK DAO and their mafiosi type of people. In fact, I warn you that something appears not to be on the up and up. Buyers beware, and try to look elsewhere than at this duck ranch from the eastern block.