DarkCrypto Finance Unveils Its New Ecosystem on the Cronos Chain
Singapore, Singapore--(Newsfile Corp. - March 4, 2022) - DarkCrypto Finance (DARK) is thrilled to announce the launch of a new, first-of-its-kind crypto ecosystem. DARK plans to develop its network to create the first fully decentralized algorithmic stablecoin protocol built on the Cronos Network. DarkCrypto aims to solve one of the most significant crypto finance issues, enabling users to hold and transact without volatility risk.
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The platform could make this possible through a system that combines algorithmic money markets with cryptocurrency collateral to create a decentralized stablecoin ecosystem.
For users, this means you can use the platform to access a variety of services and features, all powered by DARK tokens, the native coin of the DarkCrypto ecosystem. This token's design pegs it to CRO tokens at a ratio of 1:1.
Maintaining the DARK to CRO ratio
According to the project's developers, Dark finance maintains the CRO ratio via its three tokens: DarkCrypto (DARK), DarkCrypto Shares (SKY), and DarkCrypto Bonds (LIGHT).
DARK is the algorithmic stablecoin. SKY is the share that holders can use to claim DARK inflation when the network expands. Lastly, LIGHT is the bond one can purchase at a 1:1 rate when the network contracts.
Furthermore, the algorithm increases DARK's supply when there's deflation and vice versa. This guarantees price stability while maintaining the aspect of decentralization. It also ensures liquidity, which makes it ideal for lending and borrowing.
DARK is also backed with strong security measures of the Cronos blockchain. The L1 protocol helps to minimize collateralization for borrowers and maximize returns for lenders.
This unique combination provides a trustless and transparent approach to crypto borrowing and lending, which can be applied across multiple applications that require algorithmic stability in their financial products.
Critical to the project is the DarkVerse, the ecosystem surrounding DARK. It has three principal use cases: P2E, GameFi, and DeFi. Its major components are:
This fund receives 33% of minted DARK during the expansion phase. It buys low and sells high and randomly buys back DARK when it's below peg. The fund currently holds more than 3.6 million $.
Treasury As Backed Asset
This is a one of its kind insurance fund for the system. It'll receive 15% of the minted DARK every epoch during expansion. The fund will develop a lending system allowing DARK holders to lend and borrow CRO from the reserve. At the moment, it holds 3.5 million CRO.
DarkAuto is a tool for depositing your funds and growing them perpetually. The deposited funds grow through earning compound interest.
The DarkRoll is one of the project's mini-games. It was developed as a use case for DARK. The P2E mini-game will allow players to test their abilities against each other for rewards.
Audit and partnerships
DarkCrypto has passed auditing by Peckshield. That certification guarantees investors and users the safety of their funds. Additionally, the project has partnered with reputable players in the crypto space. These include Beefy Finance, MMFinance, KryptoDex, Crodex, and Crystal Finance. Such associations guarantee DarkCryoto's customers' seamless transactions.
About DarkCrypto Finance
DarkCrypto (DARK) is an anti-deflationary and anti-inflationary crypto project running on the Cronos chain. It draws its inspiration from BasisCash as well as its predecessors, bDollar, Soup, and Tomb Finance. You can get more information about the project's social platforms: Website, Twitter, Medium, Telegram, Discord, and Reddit accounts.
Contact person - Alan - aka Dark Lord
Company - DarkCrypto Finance
Location - Singapore
Disclaimer : There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. Moreover, nothing contained in this PR should be construed as any recommendation. Readers are encouraged to do their own research.
Company: DarkCrypto Finance
City: Singapore, Singapore
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115678