Darkness Dollar

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

DarkNess Dollar introduced the world to the new concept of a cryptocurrency being partially backed by collateral and partially stabilized algorithmically.

Stablecoin — a digital asset that is pegged to fiat currency — is considered the most important cornerstone in DeFi. Stablecoins provide an excellent method to park money during trading or to use as a base currency. The most prominent use case of stablecoins is stability and how it helps cryptocurrency users, especially traders, hedge against volatility.

There are several types of stablecoins, including fiat-backed, crypto-collateralized, and algorithmically stabilised stablecoins. While fiat-backed stablecoins are not 100% decentralised, crypto-collateralized stablecoins like DAI have issues of over-collateralization. On the other hand, purely algorithmic protocols such as BasisCash, ESD, Tomb and others provide a very noble solution to establish stablecoins with no backed assets. The issue with purely algorithmic protocols is their inability to efficiently react to volatility, which results in many of these “algo-stables” ending up in a dead zone and away from the $1 peg.‌

In that context, DarkNess Dollar was born.

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

DarkNess Dollar introduced the world to the new concept of a cryptocurrency being partially backed by collateral and partially stabilized algorithmically.

Stablecoin — a digital asset that is pegged to fiat currency — is considered the most important cornerstone in DeFi. Stablecoins provide an excellent method to park money during trading or to use as a base currency. The most prominent use case of stablecoins is stability and how it helps cryptocurrency users, especially traders, hedge against volatility.

There are several types of stablecoins, including fiat-backed, crypto-collateralized, and algorithmically stabilised stablecoins. While fiat-backed stablecoins are not 100% decentralised, crypto-collateralized stablecoins like DAI have issues of over-collateralization. On the other hand, purely algorithmic protocols such as BasisCash, ESD, Tomb and others provide a very noble solution to establish stablecoins with no backed assets. The issue with purely algorithmic protocols is their inability to efficiently react to volatility, which results in many of these “algo-stables” ending up in a dead zone and away from the $1 peg.‌

In that context, DarkNess Dollar was born.