Remark

In its first year of operation, Dao Duck was able to grow into a small and cohesive community driven by genuine connection. The community comprises of leaders, founders, WEB3 veterans, and respective WEB2 professionals.

The promised roadmap was executed in a way that yielded the greatest rewards for our holders. This included the shipping of hatching, mutation, metaverse, and a somewhat decentralized DAO.

However, we did not deliver the staking of your NFT's. We chose to navigate this obstacle by staking the DAO Vault ETH via Stakewise. As a result, the DAO has gained over 0.6 ETH in rewards, which we found to be a more than ideal outcome.

Dao Duck had grown it's vault size close to four times via the Moonbirds flip, representing great gains with each holder being able to burn their duck to claim back 0.116 ETH, with the per duck value, if we were to liquidate our NFT’s and $APE holdings being much higher at ~0.13-0.14.

We have also had several votes in favor of arbitraging the USDC/ETH pair during times of volatility, which has brought profit given the uncertainty in the market.

In terms of pending developments, we were on the brink of releasing Pondverse, but chose against it despite deploying capital for the art and smart-contract. We figured that, despite its innovation, we couldn't see it providing any more value than the projects currently available.

We are not too impressed with the NFT landscape, apart from the basic shortcomings, there is an extreme lack of liquidity and innovation, and we do not wish to add to this liquidity vacuum. Hence, the project will be getting redeveloped, to be closer aligned to our vision.

Looking outward, I am a firm believer that Financialization will be the answer. Under this branch, falls fractionalization, alongside lending, pricing and aggregation. This is following on from asset-backed stablecoins such as USDC, which accelerated the mass adoption of decentralized finance.

I wish to steer Dao Duck into this direction, as I fall under the impression that it will be the driver of the next NFT killer use case.

We have learnt a lot of lessons, and will continue building until Dao Duck is a global brand. We will have a focus on creating and sustaining a business around Dao Duck that can be monetized and as a result grow our portfolio.

Cheers to the first year, and many more to come.