DarkCrypto Finance — the first CRO-pegged algorithmic token to generate DARK tokens that run on the Cronos network. It includes an innovative solution that can deterministically adjust the stablecoin supply to move the price of the stablecoin in the direction of the target price to ensure programmability and DeFi compatibility.
About DarkCrypto Finance project
Inspired by the original idea of Basis as well as its predecessors, DarkCrypto is a multi-token protocol that consists of the following three tokens:
| DarkCrypto (DARK) | Algorithmic token, linked to CRO. |
| DarkCrypto (SKY) stocks | Holders can claim DARK inflation as the network expands. |
| DarkCrypto (LIGHT) bonds | They can be purchased when the network is in a contraction state and can be exchanged for DARK when the network enters a deflationary phase. |
Unlike other algorithmic tokens, DARK is not pegged to a stablecoin – instead, it is pegged to CRO. The developers believe in the potential of Cronos and have decided to combine the mission with providing value and capitalizing on the future growth of DARK. DARK aims to become the primary medium of exchange on the Cronos network. This will be achieved by providing a mirror liquid CRO asset. One of the main disadvantages of past algorithmic tokens was the lack of use cases. In order to support tethering in the long term, the DarkCrypto team will focus on innovation, related to advanced features and use cases.
APR shares are linear and printed 24/7, regardless of DARK's relationship to the peg. Boardroom, on the other hand, only prints when TWAP DARK is above the anchor. Thus, it may not always be the case that an investor earns higher returns from the boardroom than from stock pools.
More about defi app
DarkCrypto (SKY) shares — one way to measure the value of the DarkCrypto protocol and shareholder confidence in its ability to keep DARK close to the peg. During the expansion of the epoch, the protocol mints DARK and distributes it proportionally to all SKY holders who have placed their tokens in the boardroom. SKY holders have a voice (governance) on proposals for improving the protocol and future use cases in the DarkCrypto financial ecosystem.
The primary purpose of DarkCrypto Bonds (LIGHT) — to help to drive change in the DARK supply during both periods of expansion and periods of contraction. When the TWAP (weighted average price) of DARK falls below 1 CRO, LIGHT is released and can be bought with DARK at the current price. Swapping DARK for LIGHT burns DARK tokens, taking them out of circulation (deflation) and helping to restore the price to 1 CRO.
You can exchange LIGHTs for DARKs when the price is above the anchor in the future, plus additional incentive for holding above the anchor longer. This equates to inflation and selling pressure on DARK when it is above the peg, helping to push it back towards 1 CRO.