---DarkSilk(DSLK) ICO---
Time Period: 10PM EST Friday 23rd September - 10PM EST Sunday 23rd October
DARKSILK(DSLK) LAUNCHES ON THE 5TH OF NOVEMBER 2016
To fund further development and innovation by the Silk Network team, there will be a four week long crowdfunding campaign held on Weaver.
Out of a total 4,000,000 DarkSilk(DSLK) initial fund, there will potentially be 1,528,000 available for sale and the price will not be set (fixed).
Instead, the week with the most demand sets the price (volatility sets price) for the whole of the ICO:
MAX(PRICEWEEK(N) ([AMOUNT] BTC x 4 / 1,528,000 DSLK))
After 4 weeks, price is established and for the amount of BTC that has been raised by an investor, DSLK will be issued through Weaver. There will be a minimum and maximum allowable price:
MIN PRICE: 0.25 USD (Capped)
MAX PRICE: 2.50 USD (Capped)
We set these upper and lower limits to protect both the project against low demand
and investors against high demand to take the following two extreme scenarios into consideration.
Insufficient Demand
Price is set at USD 0.25 and a lot of DSLK will remain as collateral in Weaver.
This protects the project in case market value is negatively disproportionate to our estimated value.
Excess Demand
Price is set at USD 2.50 and DSLK will be sold out in Week(n), for this to happen USD 3,533,500 needs to be raised.
We want to reward early contributors, so there will be four tiers of bonuses; one for each week:
Tier 1: contributors during week one will receive a bonus of 15% more DarkSilk.
Tier 2: contributors during week two will receive a bonus of 10% more DarkSilk.
Tier 3: contributors during week three will receive a bonus of 5% more DarkSilk.
Tier 4: contributors during the last week will not receive a bonus.
How to take part:
2. Navigate to Main Menu->Wallet->Addresses
3. Deposit BTC to the "Bitcoin (ICO)" address
Your overview page will then update to show the Bitcoin transaction
and the balance within your Bitcoin(ICO) wallet will also reflect your deposit.
Once per hour the Bitcoin from Weaver is transferred to the 4/6 MultiSig CoPay BTC Wallet
4/6 MultiSig Address: 3P5sqo9JmUPL3Xsf3Zbb9wUi9EyCRnYPcV
ANNOUNCEMENTStarting the 2nd week of the DarkSilk(DSLK) ICO we will be accepting Silk(SLK) payments at a 25:1 conversion rate.
Having monitored the reception of the DarkSilk(DSLK) ICO and the opening of the Silk(SLK) market on Bittrex we came to the following conclusions:
• The sell pressure in Silk(SLK) has been significant at a $0.01 rate.
• DarkSilk (DSLK) demand reaffirms a $0.25 price point.
To reduce excess Silk(SLK) liquidity on the market and to stabilise its price we will allow for Silk(SLK) payments to be made for the DarkSilk(DSLK) ICO. Greater DarkSilk(DSLK) distribution at a fair price is a welcome benefit. Silk(SLK) payments will not be eligible for bonus receivables.
The process for SLK payments will be the same as for BTC payments.
COMMUNTY INVOLVEMENTWe Want
You!Join us on
slack, get involved!
Consumer privacy is an increasingly important subject in the world today. DarkSilk(DSLK) offers its user-base the ability to send digital cash anonymously and instantly. With in-wallet features such as Sandstorm and Stealth Addresses, mixing coins and secure anonymity has never been easier.
The importance of a stable economy is known to us all. The value of DarkSilk will be kept in check using a stabilisation method via Weaver. DarkSIlk is balanced by an advanced algorithm that transfers high price impact and price fluctuations to Silk. This method dampens price oscillations by managing DarkSilk supply and using Silk(SLK) as a security asset. DarkSilk utilises Stormnodes as the 2nd tier of security for the network. Stormnodes pay 0.382DSLK per reward allowing for significant ROI to be achieved. For example, a Stormnode count of 500 nodes would result in a 37.7% ROI. Stormnodes also allow users to propose and vote on budgets. Each month a budgeting block gets distributed to the highest voted proposals. The size of the budgeting block is 10,000DSLK which is a welcoming amount to those projects in need of funding.
If you have any questions, please do not hesitate to ask.
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