What is Ducat ?​

Ducat focuses on creating an overcollateralized primitive for Bitcoin DeFi through its stablecoin UNIT. The protocol operates entirely on Bitcoin infrastructure, utilizing the DUCAT token to manage the issuance and redemption of UNIT Collateralized Debt Positions (CDPs). The protocol’s governance structure is built around DUCAT, a Bitcoin-native governance token implemented as Bitcoin Runes. This approach ensures that governance remains within the Bitcoin ecosystem while leveraging an ordinal inscriptions consensus mechanism. Ducat Protocol has demonstrated strong investor confidence, recently completing a $1.5M strategic funding round led by Hivemind Capital, with participation from Native Crypto via Echo. This brings their total funding to $4M, building on their previous $2.5M pre-seed extension.

Ducat Airdrop Details​

While Ducat has confirmed the existence of the DUCAT token in their official documentation, they have not explicitly announced a traditional airdrop campaign. However, the protocol has implemented a rewards system targeting eligible NFT communities across Bitcoin, Ethereum, and Solana ecosystems, as well as power users of Bitcoin-related decentralized applications. The rewards program specifically recognizes users from established Bitcoin DeFi platforms including Garden Finance, Magic Eden, and other Bitcoin-focused applications. This suggests a retroactive approach to rewarding early adopters and active participants in the Bitcoin DeFi ecosystem. The current participation mechanism involves testnet activities and community engagement through their dedicated application platform. Users can position themselves for potential rewards by actively participating in the protocol’s development phase and completing various missions designed to test protocol functionality. Step-by-Step Guide:

How to Participate in Ducat Protocol Rewards​

1. Access the Ducat Application – Visit the official Ducat App platform to begin your participation in the protocol’s testing phase.
2. Connect Your Bitcoin Wallet – Connect to the Bitcoin testnet using either Unisat or Xverse wallet.
3. Create Your Account – Complete the account creation process within the Ducat application.
4. Claim Testnet Tokens – Access the MUTINYNET faucet to claim testnet tokens necessary for protocol testing and interaction.
5. Invite Friends to Join – Utilize the referral system to invite friends to the platform, potentially increasing your reward multiplier.
6. Complete Protocol Missions – Navigate to the missions section within the Ducat App and complete available tasks to show protocol usage.
7. Participate in Galxe Campaigns – Join the Ducat Protocol Galxe Quest to complete additional community tasks and increase your engagement score.

Frequently Asked Questions​

When will the DUCAT token launch on mainnet?​

The protocol has not announced a specific mainnet launch date for the DUCAT token. Current activities focus on testnet development and community building.

What NFT communities are eligible for rewards?​

Ducat Protocol has mentioned eligibility for NFT communities across Bitcoin, Ethereum, and Solana ecosystems, but specific collections have not been detailed.

How does the MPC network ensure security?​

The Multi-Party Computation network distributes governance enforcement across multiple parties, reducing single points of failure. Combined with indexer validation, this creates a robust security model for Bitcoin-native governance operations.

Can I participate without technical expertise?​

The protocol’s application interface is designed for users with varying technical backgrounds. Basic familiarity with cryptocurrency wallets and testnet operations is helpful, but extensive technical knowledge is not required for participation.

Conclusion​

Ducat Protocol represents an ambitious attempt to bring sophisticated DeFi functionality to Bitcoin while maintaining the network’s core security and decentralization principles. While a traditional airdrop has not been confirmed, the protocol’s rewards system for NFT communities and Bitcoin DeFi users suggests opportunities for early participants. The substantial funding and institutional backing indicate serious development resources, while the focus on Bitcoin-native solutions addresses a significant gap in the current DeFi landscape. You're interested in more projects that do not have any token yet and could potentially airdrop a governance token to early users in the future? Then check out our list of potential retroactive airdrops to not miss out on the next DeFi airdrop!

• Airdrop Link: Join points campaign

• Total value: n/a

• Airdrop unconfirmed

• Platform: Bitcoin

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