Darcrus ANN – https://darcr.us/announcement
Developed by Steven Grove, Stafford, VA
Below are the full terms for the Darcrus Crowdfunding campaign. These conditions will not change during the crowdfunding period.
Of the 50,000,000 TOTAL Darcrus tokens, Bittrex will host 42,000,000 tokens for the ICO at a different pricing levels. Below is the pricing schedule:
• Early Bird: 2500 satoshi each, 10,000,000 available (40,000 DAR per BTC)
• Phase 1: 4000 satoshi each, 13,125,000 available (25,000 DAR per BTC)
• Phase 2: 5000 satoshi each, 10,500,000 available (20,000 DAR per BTC)
• Phase 3: 6000 satoshi each, 8,375,000 available (16,666.67 DAR per BTC)
42,000,000 Darcrus Tokens Available for ICO.
The crowdfund will run for 7 days beginning December 21st, 2016 at 11:00:00 PST and ending on December 28th, 2016 at 10:59:59 PST.
The crowdfund must raise a minimum of 250 BTC to be considered a success. Each phase unlocks a new development milestone Darcrus will fund and achieve.
• Phase 1: Early Bird + additional 15% net profits (25% total) buyback on Bittrex
• Phase 2: Early Bird + Phase 1 + dAppsheet in Python
• Phase 3: All prior + Mining Farm with 50% net profits buy back on Bittrex
Tokens bought via buyback will be burned.
If success conditions are NOT met, all BTC will be refunded through a buy wall.
Trading fees are not refunded under any circumstance.
Any coins not sold by the end of the 7-day crowdsale will be verifiably “burned” or destroyed by using the NXT built-in token deletion command.
Of the remaining authorized coins, their uses and issuance will be as follows:
• 5 million: SIGFARM and SIGWONET NXT Asset Swap *
• 2 Million: Technology Build, Maintenance, Upgrades, Marketing, and Business Development. These will also be burned into the correct ratio of the final Darcrus tokens. *
• 500,000: Bounty payments for current ICO (see https://darcr.us/bounties for more info) *
• 500,000: Bounty payments for first unsuccessful ICO attempt (amounts unchanged)
There are 5,371,282 outstanding SIGWONET and SIGFARM tokens. Current token holders start out at a 1:1 swap rate when swapping in either token. In the event the ICO is not fully funded and some of the Darcrus tokens are burned, the percentage of the amount burned will be subtracted from the swap. If the ICO is fully funded, the extra 371,282 above 5,000,000 will be burnt from the Founder’s personal purchases of SIGFARM to ensure there is a fair and even 5,000,000 swap. NXT messaging will be used to reach out to the Founders. The same burn rule will apply to the 2,000,000 for the development fund and the 500,000 for the ICOv2 bounties.
Once the crowdfund is over and successful, Bittrex will verify there is a working wallet, blockchain, and block explorer. The Darcrus team has already created the Darcrus NXT token. NXT has a working wallet, working blockchain, and fully functional block explorer to look up the Darcrus token and store the token locally when needed. Bittrex will distribute it the token on the Bittrex platform.
On or about 12/28/16 Bittrex will release the funds raised to the Darcrus development team, and open the market for trading.
No trading of the coin will be allowed until the crowdfund ends and escrow is released.
You can also learn more about Darcrus by engaging the community on Slack.