How will the value of Silk be determined for ICO buy in to DarkSilk? Will it be assessed at the end of the ICO or the beginning?
For example, Silkcoin is currently $.0004. 1 DarkSilk will be purchasable for $.25. As I speak, it would take 625 Silkcoin (silk after swap) to purchase 1 DarkSilk.
How will you handle Silk having a value of $.0004 at the beginning of the ICO, and (random number) $.05 by the end of the ICO? If I dump my silk in to DarkSilk, what rate of exchange will I receive?
For example, Silkcoin is currently $.0004. 1 DarkSilk will be purchasable for $.25. As I speak, it would take 625 Silkcoin (silk after swap) to purchase 1 DarkSilk.
How will you handle Silk having a value of $.0004 at the beginning of the ICO, and (random number) $.05 by the end of the ICO? If I dump my silk in to DarkSilk, what rate of exchange will I receive?
DarkSilk price will be set at the end of the ICO, although we start out with a minimum of $ 0.25 the price could increase due to demand. What we consider important is the USD value of the purchased currency, be it from BTC or SLK. Understandably Silk price fluctuates more than BTC but thats buyers risk. We will most probably use a weighed average for Silk in order to calculate its contribution to the ICO.
I hope this asnwers your question.
But then the people who purchase Silk at the end of the ICO end up fucked if they exchange for DarkSilk... because they will be faced with immediate depreciation of purchased value due to averaging.
Silk holders want to play too. Tough luck? I like you guys either way.
Maybe it's best to not use Silk holdings to participate in the ICO.
