DARKROOM (BOARDROOM)

DARKCRYSTL (DarkCrystal Token)

$DARKCRYSTL token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol deterministically expands and contracts the DARKCRYSTL supply to maintain the $DARKCRYSTL peg to 1 WCRO in the long run. $DRKCRYSTL is an algorithmic token with a peg actively maintained by a smart contract. It does not mean it will be valued at 1 WCRO at all times as it is not collateralized and will be subject to a certain level of volatility.

DARKCRYSTL Distribution (Boardroom)

The Distribution of DARKCRYSTL during Epoch Expansion is as follows:
1.65% as Reward for $MINE Stakers in Boardroom
2.30% goes to DAO Treasury
3.5% goes to Dev Allocation
If there are bonds to be redeemed, 65% of minted DARKCRYSTL goes to Treasury until it's sufficiently full to meet bond redemption. If there is no debt (BOND), it will follow the maximum capped expansion %.

How do the Algorithmic Peg works?

When DARKCRYSTL is below peg

When DARKCRYSTL price is below WCRO's Current Market Price (peg), Token Holders can purchase DARKCRYSTL Bond (DBOND) and DARKCRYSTLwill be burnt to reduce the total circulating supply when Bond Holders redeem DARKCRYSTL token with a 1:1 ratio.

When DARKCRYSTL is above peg

When DARKCRYSTL price is above WCRO’s Current Market Price (peg), the token supply will have to expand to push it back down to peg and the contract will allow the redemption of the $MINE(SHARE). When the price of DARKCRYSTL continues trading above the WCRO's Current Market Price (peg) after bond redemption, the contract mints an appropriate amount of new DARKCRYSTL and this will be distributed to the $MINE Stakeholders in the Boardroom.

$MINE(SHARE) (DARKCRYSTL Shares)

$MINE is one of the ways to measure the value of the DARKCRYSTL Protocol and Shareholder Trust in its ability to maintain DARKCRYSTL close to peg. During epoch expansions the protocol mints $MINE and distributes it proportionally to all $MINE stakers in the Boardroom.$MINE Holders have voting rights (governance) on proposals to improve the protocol and future use cases within the DARKCRYSTL finance ecosystem.

$MINE Distribution (Farms)

$MINE has a maximum total supply of 60,001 tokens
DAO Treasury (DARKCRYSTL Reserve) acts as the second line of defence on top of the Bond Mechanism controlled by DARKCRYSTL Core Team to conduct the following actions:
  • Investment (Growing Treasury)
  • Strategic Buybacks (Stabilize Protocol)
  • Marketing
  • Building Protocol Utility
  • Protocol Expansion
In a later stage, DAO Treasury will move to a governance system to vote on using funds in certain areas of the project including investment, marketing etc.

DBOND(DARKCRYSTL Bond)

DBOND'S main job is to help incentivize the changes in DARKCRYSTL supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of DARKCRYSTL falls below 1 WCRO, DBOND will be issued and can be bought with the current DARKCRYSTL price.

Purpose of buying DBOND (exchanging DARKCRYSTL for DBOND):

  1. 1.
    Burns $DARKCRYSTL tokens
  2. 2.
    Takes $DARKCRYSTL out of circulation (deflation)
  3. 3.
    Helps to get the $DARKCRYSTL price back up to the peg (above 1 CRO).
Rationale: Buying DBOND addresses DARKCRYSTL inflation issue and DARKCRYSTL sell pressure to help to push DARKCRYSTL back above the peg. This DBOND can be redeemed for DARKCRYSTL when the price is above the peg in the future. Investors who are here for the long term and are bullish on $DARKCRYSTL and WCRO can choose to hold DBOND longer as the premium gets higher when $DARKCRYSTL TWAP increases over time. Contrary to early algorithmic protocols, DBOND does not have expiration dates on redemption $DARKCRYSTL. All DBOND Holders are able to redeem their DBOND for DARKCRYSTL as long as the Treasury has a positive DARKCRYSTL balance which typically happens when the protocol is in epoch expansion periods.