Unit Protocol
Staking $DUCK
DUCKs mean BUCKs
Since the beginning, one of our missions has been to see DUCK holders get something out of Unit Protocol.
Initially, we used the stability and liquidity fees in Unit Protocol’s treasury to buy DUCKs from the open market, and then we ‘burned’ them to decrease the quantity and increase the value. It worked pretty well. While buying a DUCK just to burn it may seem like a horrible and reckless thing to do, if you have too many of them waddling about, killing off a few brings up the value of the rest. Everyone wins (except the ones that got burned).
But fear not! Now, we’ve shifted from burning DUCKS to staking them instead. No, that doesn’t mean that we’re driving stakes through the hearts of defenceless animals. It means that you can put your ducks in the pond so they can gobble up the fees that Unit Protocol collects.
Crumbs 🍞🍞🍞

What kind of fees are these DUCKs feeding on?

Here’s how it works. There are two fees that we collect from people who use Unit Protocol – the stability fee and the liquidation fee. Both of these fees go into Unit Protocol’s duck pond. So far, Unit Protocol has collected almost 6 mn $USDP in fees. You can see the stats on fees by visiting the community-run quackprofits.xyz.
Every day or so, we use 1/30 of the treasury to buy up DUCK that are floating around in the open market. We distribute these fees to DUCK stakers.

So, what kind of return can I expect from staking my DUCKS?

The qDUCK smart contract uses 1/30 of Unit Protocol’s treasury to buy $DUCK tokens from the open market every day or so and then adds them to the qDUCK pool, distributing profits to $DUCK stakers. You can check the current status of the Treasury here.
When you stake your DUCKs, you see the APR at that time. From that moment, your DUCKs are continuously compounding. When you unstake, you get back everything you staked originally and any extra from fees.
The APR exchange rate changes with each protocol fee which goes into the qDUCK pool. When you unstake, your DUCK tokens are paid out to you according to the exchange rate at that time.
– You can stake and unstake your DUCKs at any time.
– Rewards are only paid out when you unstake.

I'm in. Where can I get my hands on some DUCKs?

1. Choose an exchange (Shibaswap, Balancer, Uniswap, Sushi are all good)
2. Swap some tokens for some DUCKs

Now, how can I stake my DUCKs on Unit Protocol?

So, now you’ve got some DUCKs and you want to unleash their awesome power to generate some value. Good for you.
2. Accept the terms and connect your wallet;
3. Hit ‘approve’ and stake those DUCKs!
Last modified 17d ago