$QUACK: A Peer to Peer Meme Coin

by Ducktoshi

@duckinalsbtc

$QUACK positions itself as an innovative memecoin at the heart of the Bitcoin-based Runes Protocol. Our primary mission is to cultivate a vibrant and ever-expanding community around the unique "Duckinals" PFP collection. The coin acts as a reward mechanism, especially honoring the early users and minters of the collection. With a total issuance of 69 billion $QUACK, we aim for widespread distribution and community engagement. The value of $QUACK lies not in its functionality as a currency, but in its ability to unite individuals and provide a platform for exchange and creativity. We enhance engagement and foster an inclusive environment. Each member of the "Duckinals" family plays a pivotal role in the evolution of this project, whose success is rooted in the active participation and enthusiasm of its members. Dive into the world of $QUACK, where fun and community take center stage.

$QUACK does not claim to be the first coin on the Runes Protocol, nor the first memecoin, as other projects might claim about themselves. Of course, we too aim to launch as quickly as possible. Perhaps we might even be lucky enough to be the first coin to debut after the hardcoded coins by Casey and his team - who knows? We will certainly try. And if that doesn't work out, then so be it - we are still early, just like everyone reading this whitepaper. The mere fact that our whitepaper was permanently engraved on the Bitcoin blockchain before the official release of the Runes Protocol is proof enough of this fact.

Token Distribution

The distribution of the total 69 billion tokens is structured as follows:

• Allocation 1: Duckinals Collection Holders
  15% of the supply will be evenly distributed among the holders of the "Duckinals" collection, which equals 1,035,000 $QUACKS per Inscription. This 15% will be distributed in two parts: 10% (690,000 $QUACKS) at block 840,000 and an additional 5% (345,000 $QUACKS) at block 850,000.
• Allocation 2: Mining by Duckinals Holders
  40% of the supply will be distributed through mining to the holders of the "Duckinals" collection. "Duckinals" will mine over 160,000 blocks, starting at block 840,000. No new tokens will be distributed after block 1,000,000 of the Bitcoin blockchain, meaning each "Duckinal" inscription mines 17.25 $QUACK per block.
• Allocation 3: Diamond Hand Holders
  3% of the supply will be evenly distributed to all Diamond Hand inscriptions at block 850,000. Diamond Hand inscriptions are those that have not been moved from the wallet they were minted in since the mint, up to block 850,000. This is primarily to reward the minters of the collection. The fewer inscriptions in this group, the higher the reward per inscription. So better don't Paperhand your Duckinals.
• Allocation 4: Boosts
  20% of the supply can be mined through a Boost mechanism. The entire $QUACK token allocation of a wallet can be boosted. The following Boost levels will be available:
  Level 1 Boost: 42% for holding 3 Duckinal inscriptions on the same address, including at least 1 PFP, 1 Duckinal, and 1 Gallery.
  Level 2 Boost: 69% for holding 5 Duckinal inscriptions on the same address, including at least 1 PFP, 1 Duckinal, and 1 Gallery.
  Level 3 Boost: 169% for holding 10 Duckinal inscriptions on the same address, including at least 1 PFP, 1 Duckinal, and 1 Gallery.
  Level 4 Boost: 420% for holding 21 Duckinal inscriptions on the same address, including at least 1 PFP, 1 Duckinal, and 1 Gallery.
  
  Example: You hold 5 Duckinals in an adress (3 PFP Duckinals, 1 Duckling and 1 Gallery). You mine 17,25 $QUACK per Inscription per Block -> 86,25 $QUACK per Block. You got the Level 2 Boost of 69% -> you mine 59,5125 $QUACK extra so your adress mines a total of 145,7625 $QUACK per Block.
• Allocation 5: Marketing
  20% of the supply is allocated for marketing purposes. More details to the first 4% below - follow our twitter (@duckinalsbtc) and soon our discord for more infos on the remaining 16% of the marketing supply.
• Allocation 6: Founders
  The Team (currently only Ducktoshi and one duckling, but will probably be expanded) will receive the remaining supply of 2% to ensure not rugging this project.

When Marketing?

We are starting now and are releasing a total of 4% of the supply directly. You now have two ways to actively farm $QUACK through engagement.

Farming Contest 1: Ord.io
Register with your address on the ord.io website, give this inscription an upvote, and comment with anything, but it must include $QUACK and your taproot address. You will then receive a share of a total of 2% of the supply—that's 1,380,000,000 tokens—distributed evenly among all participating addresses. The end of this farming contest will be at block 840,000.

Farming Contest 2: Twitter
Make a Twitter post stating "Duckish on $QUACK", tag the @duckinalsbtc account in your post, and include your Bitcoin taproot address. This contest also runs until block 840,000, and the 1,380,000,000 tokens will be evenly distributed among all participating addresses.

For example, if 1,000 addresses participate in each contest and you have entered both contests with your address, you will receive 1,380,000 tokens for Contest 1 and 1,380,000 tokens for Contest 2—totaling 2.76 million tokens. With fewer participants, you receive correspondingly more; with more participants, correspondingly less.

Each address can participate only once in both contests. However, no one is stopping you from creating multiple addresses. Happy farming!

We are currently working on the Mining Dashboard - which will go live before the Mining starts at Block 840.000. Follow our Twitter (@duckinalsbtc) and soon our discord for more info.

Of course, we cannot make any promises regarding the value development of the token. However, what we can say is that we will do our utmost to market the coin and that history has shown that memecoins on new protocols have always performed well - history just hasn't had the chance yet to tell how memecoins will perform on the largest existing blockchain of all time. But why shouldn't memecoins on Bitcoin become significantly larger than their counterparts on smaller chains?

Important Disclaimer:

The Runesprotocol is not yet live, and any changes to the current plans may affect us as well. Consequently, this whitepaper is only version 1.0. Any potential changes or additions will be published with a parent/child proof linked to this inscription. No Tokens can be distributed before Block 840.000 where the protocol goes live. Our only social media account at present is on Twitter (@duckinalsbtc). Should we expand to additional platforms such as Discord, only follow links that are provided through our official Twitter profile.