---DarkSilk ICO---
Time Period: 10PM EST Friday 23rd September - 10PM EST Sunday 23rd October
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: 34ufE2QW4xxrW1B73o9Sqafbz7dhNnUnvF
A dedicated stats and info page for the DarkSilk(DSLK) ICO will be brought online on the 23rd/24th of Sept.
If you have any questions, please do not hesitate to ask.
Hello guys you have to add this as a own thread otherwise this not will going good for DRKSILK or the Community.
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