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DarkCrypto
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PROTOCOL & MECHANISMS
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Welcome to DarkCrypto Protocol - an algorithmic stablecoin running on Cronos network.
What is DarkCrypto?
DarkCrypto Protocol is the first ecosystem running around DARK - an algorithmic token pegged to CRO on Cronos chain.
It involves an innovative solution that can adjust the stablecoin's supply deterministically to move the price of the stablecoin in the direction of a target price to bring programmability and interoperability to DeFi.
Inspired by the original idea behind Basis as well as its predecessors, DarkCrypto is a multi-token protocol which consists of the following three tokens:
- DarkCrypto (DARK): the algorithmic token pegged to CRO
- DarkCrypto Shares (SKY): which holders can claim DARK inflation when the network expands
- DarkCrypto Bond (LIGHT): which can be purchased when the network is in contraction and can be redeemed for DARK when the network comes to its deflationary phase
What is the point of DarkCrypto?
Unlike other algorithmic tokens, DARK is not pegged to a stable coin— it is instead pegged to CRO.
We believe in the potential of Cronos, and have chosen to align our mission to both provide value to and derive value from DARK's future growth. DARK aims to become the main medium of exchange on Cronos network: this will be achieved by providing a mirrored, liquid asset to CRO.
One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long run, the DarkCrypto team will maintain a focus on innovation around enhanced functionality and use cases.
Last modified 2mo ago
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