DUO Network is a decentralized platform which enables issuance, trading, and settlement of tokenized derivatives. It mainly consists of Collateralized Autonomous Tokens (or CAT in short), Price Oracle, DUO DEX. The platform aims to reduce risks and barriers in traditional derivative transactions, through collateralized smart contracts and self-governed reference rates, thereby creating a transparent and autonomous derivative marketplace.
Token Sale & Economics
- Project website: https://duo.network/
- Project whitepaper: https://duo.network/papers/duo_economic_white_paper.pdf
- Token sale start time: 2019-04-27 12:00 UTC
- Ticker: DUO
- Token type: ERC20
- Total hard cap: $5,100,000
- Total supply: 100,000,000 DUO
- Initial circulating supply: 10.36% of total supply
- Public sale token price: 1 DUO = $0.15
- Public sale allocation: 10% of total supply
- Private sale token price: 1 DUO = $0.30
- Private sale allocation: 12% of total supply
- Private sale vesting period: 3% before initial trading platform listing, 3% 1 month after listing, 3% 2 months after listing, 11% 3 months after listing, 10% each month from the 4th month after listing
- Seed sale token price: No seed sale
- Seed sale allocation: No seed sale
- Seed sale vesting period: No seed sale
- Token distribution: Apr 28th 2019 9:00 EDT
Token Release Schedule
Token Allocation & Release Note
- Public Sale: 10% of total supply.
- Private Sale: 12% of total supply.
- Team Incentive: 20% of total supply.
- Advisers & Compliance: 5% of total supply.
- Community & Ecosystem: 28% of total supply.
- Operation Reserve: 25% of total supply.
- Private Sale: 3% before initial trading platform listing, 3% 1 month after listing, 3% 2 months after listing, 11% 3 months after listing, 10% each month from the 4th month after listing.
- Team Incentive: 2-year vesting with first 25% release 6-month after listing.
- Advisers & Compliance: 2-year vesting with first 25% release 6-month after listing.
- Community & Ecosystem: 2-year gradual release.
- Operation Reserve: long-term reserve, 100% lock-up for the 12-month, gradual release when Phase-2 development concludes.
Token Utility & Use Cases
Price Oracle Node: Network participants can lock their DUO Tokens as stack to become a node in our Price Oracle. Penalties and rewards are distributed in DUO Tokens based on difference between each node’s price feed and theaccepted price.
DUO Protocol Node: Network participants can also lock their DUO Tokens as stack to become a super node and be able to propose new custodian specifications.
Governance: We aim to create a community-based governance model. Any DUO Token holders can vote proportionally on protocol decisions and development based on DUO Token balance.
Conversion Fee: All custodian contracts in DUO Network charge a small percent of fees on CAT conversions. Users can choose to pay fees in ETH or DUO. Early stage payments in DUO will be discounted to encourage token adoption. Conversion proceeds in ETH will be primarily used to maintain the daily operation of the Network, such as pricing feeds, oracles, gas fuels, and personnel expenses. Excess proceeds serve as operation and community reserves for the Network.
Price Service Fee: External users can use our Price Oracle as a pricing service, charged in form of DUO Token.
Community Rewards: The Network provides its participants with an incentive scheme similar to mining on blockchains. Instead of recording transactions on blockchain, the Network recognizes conversion arbitraging, which helps stabilizing the token prices, as the mining operation. In addition to arbitrage profits, the Network rewards participating users with DUO Tokens. The detailed reward scheme will be released at a later stage.
Roadmap & Updates
- March 2018
- Project kick-start
- April 2018
- Release first version of whitepaper
- May 2018
- Seed round token sale conclude
- July 2018
- Release technical paper
- September 2018
- Release second version of whitepaper
- February 2019
- Phase-1 development conclude
- April 2019
- Initial token distribution & listing
- H1 2019
- Launch product testing on Ethereum mainnet
- H2 2019
- Refine product experience; test on DUO staking economy model
- H1 2020
- Launch DUO staking operation; release Phase-2 infrastructure and PoC on new public chain platforms.
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