Updated IFO Proposal, with Community Revisions

IFO Proposal updated with

• Revised Private Sale Allocation
• Disclosure of DUET Private Sale and Secondary Public Sale (Copper Launch) prices
• Revised Public Sale Participation Fee

For the Private Sale, your Pancake Profile avatar has to be set to a Pancake Squad bunny.

For the Public Sale, your maximum CAKE commitment limit for the IFO is determined by your average IFO pool staking balance during the calculation period (~5 days from 06 Mar – 11 Mar 22).

For more details, check out our IFO 3.1 post.

DUET Token Distribution

Following the IFO, ~2.43% of the total supply will be circulating in the market, with an initial market cap. of $3.06M.

The average price of tokens sold by DUET in previous private fundraising rounds is $0.23, and the secondary public sale price of DUET tokens on Copper Launch has a floor price of $0.30.

IFO Sales Details

• Sale start time: ~0900 UTC on Fri 11 Mar 22
• Sale end time: ~1000 UTC on Fri 11 Mar 22
• IFO CAKE Pool Calculation Period: ~0800 UTC on Sun 06 Mar 22 to ~0300 UTC on Fri 11 Mar 22
• Amount to be raised: $1,800,000 USD in CAKE tokens
• Tokens to be sold: 6,000,000 DUET (1.43% of initial DUET total supply)
• Price per token: 1 DUET = $0.30 USD

All CAKE raised from the DUET token sale will be given to the IFO project. Only CAKE raised from the participation fee will be burnt.

Please note that the CAKE Calculation Period for this IFO is slightly shorter (~5 days) to enable the IFO to start at the original planned time and date of ~0900 UTC on Fri 11 Mar 22.

Method: Private Sale and Public Sale (both conducted via the Overflow method), with Commitment Limit determined by IFO Credits

What is the IFO Staking Pool?

TLDR: Stake CAKE in the IFO CAKE Staking pool, and get higher IFO allocations!

From 06 – 11 Mar 22 (IFO CAKE Pool Calculation Period), every CAKE staked in the IFO CAKE Pool counts towards your CAKE Credit Calculation.

What is the “Overflow” sale method?

Basically, the more you put in, the more you will get, and you’ll get back anything that doesn’t get spent. More details below in the Overflow Multiplier Table.

To participate in the IFO:

Before Sale:

• Stake CAKE in the IFO CAKE Pool during the Calculation Period
• Create an active PancakeSwap profile
• Buy CAKE tokens

During Sale:

While the sale is live (0900 – 1000 UTC on 11 Mar 22), commit your CAKE tokens to buy DUET tokens at https://pancakeswap.finance/ifo.

After Sale:

When the sale is complete, claim your DUET tokens and your unspent funds will be sent back to you.

Done!

If you decide to get CAKE tokens before the IFO starts, you can stake them here to earn CAKE token rewards while waiting for the sale.

An Explainer: What are the 2 different sale sessions?

Private Sale ($360,000, 20% of Sale allocation)

For the Private Sale, participants are required to own a Pancake Squad bunny, and set them as your Pancake Profile avatar.

For this Private Sale, the maximum amount of funds that can be committed per user is $300.

Note that the final allocation you receive will still be subject to the total amount raised in this session.

Public Sale ($1,440,000, 80% of Sale Allocation)

As the name suggests, the Public Sale is open to all, and anyone can participate. However, this comes with a participation fee.

With a 50% reduction from previous IFOs, the participation fee will start at 0.5%, which is only applied to your contribution to the Public Sale.

This 0.5% participation fee decreases in cliffs, based on the percentage of overflow from the Public Sale.

The fee cliff for the DUET IFO is as follows:

Overflow multiplier

Please note – The final price per CAKE token will be set a few minutes before the sale. We will be running a Syrup Pool and Farm for DUET after the IFO.

The Syrup Pool:

Stake CAKE tokens to earn $DUET!

• Total Tokens: 840,000 DUET
• Distribution duration: 60 days
• Start time: Shortly after the IFO ends
• Finish time: ~60 days after Syrup Pool launch
• Token rewards per block: 0.4861 DUET

Max Stake per Wallet:

100 CAKE for the first 5 days, then unlimited CAKE staking thereafter – the cap will enable everyone to enjoy pool rewards at a high APY.

For the first 5 days, you need an active PancakeSwap Profile in order to stake in the IFO Syrup Pool. No PancakeSwap Profile requirement thereafter.

The Farm:

In order to host the $DUET Syrup Pool, we will need to provide a DUET-CAKE farm that will have 2x CAKE rewards for the first 48h and thereafter, 1x CAKE rewards.

To learn more, visit the project’s official channels:

• Website: https://duet.finance
• App: https://app.duet.finance
• Testnet: https://testapp.duet.finance
• Medium: https://duetprotocol.medium.com/
• Twitter: https://twitter.com/duetprotocol
• Telegram: https://t.me/duetprotocol
• Discord: https://discord.gg/duetprotocol

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️

Official Token Contract Address: https://bscscan.com/token/0x95EE03e1e2C5c4877f9A298F1C0D6c98698FAB7B

DUET tokens will not be available for trading before or during the IFO. Any other DUET token will be a scam and will result in a financial loss. Always verify the token address before buying tokens. If you receive an DUET token airdrop from another address, it’s probably a scam and we advise you to ignore it.

Audits: PeckShield & BlockSec

Disclaimer - All projects are subject to high market risk and volatility. Please research before investing your funds. Buy with caution. PancakeSwap will not be held responsible for any investment losses.