---DarkSilk(DSLK) 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: 3P5sqo9JmUPL3Xsf3Zbb9wUi9EyCRnYPcV
Consumer privacy is an increasingly important subject in the world today. With DarkSilk(DSLK) the Silk Network offer its user base the ability to send digital cash anonymously and instantly. With the in in-wallet mixing feature called Sandstorm, mixing coins has never been this easy and combined with the ability to send to Stealth Addresses ensures the sender has a much higher anonymity.
The importance of a stable economy is known to us all, Silk Network finds it important to keep DarkSilk’s value in check via a stabilisation method. The method dampens price oscillations by managing DarkSilk market supply, integrating Silk(SLK) as a security asset enables Silk Network to hedge DarkSilk against steep price fluctuations. By utilising a Stormnode network, which offers 0.382 DSLK per Stormnode reward, a significant ROI is achieved.
With a Stormnode count of 500 nodes this would result in a 37.7% yield. Stormnodes also allow users to propose and vote on budgets. Each month a super block gets distributed to the winner by vote. The size of the super block is 10,000 DSLK, 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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