Darcrus is both the name of the total project as well as the first token of the project. Initially, 10% of net profits of Sigwo Technologies were used to buy back and burn Darcrus from the market, but due to regulatory changes the buyback and burn program was suspended indefinitely.
Now, the Darcrus token has acquired a new use case: developers that want to build a decentralized application on top of the private Jupiter blockchain, without the help of and subscription to Sigwo Technologies, only can get Jupiter tokens by exchanging DAR to JUP via our payment swap server. More details about this will be revealed with the beta release of Gravity later this spring.
There are several reasons for the swap. Waves is more user friendly than Nxt. Mercury and Darcrus availability in the same wallet will unify our project and extend our reach. Furthermore, in this case a DAR-MER trading pair will exist. Sasha Ivanov is a no-holds-barred CEO with great plans to bring Waves to the mainstream. He is very supporting of projects on Waves which turns into validation and confirmation to his contacts. Waves is a premiere ecosystem with a robust API and economic platform and it is adding functionality all the time.
Darcrus (DAR) can be traded at Waves DEX within the Waves Lite Client.
The Darcrus ICO was held December 21st – December 28th 2016 and raised the funds to pay for development services provided by Sigwo Technologies.
Of the 50,000,000 total Darcrus tokens, 42,000,000 were available for ICO, by the following scheme:
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)
In total 11,415,629 tokens were sold (all 10,000,000 of early bird and 1,414,629 of phase 1) and a total of 306.6 BTC was raised. With a bitcoin price of 970 dollar at December 28th 2016, this equals to $297,426.
Average ICO price in BTC: ((250*2500)+(56.6*4000))/306.6 = 2777 sat
Average ICO price in $: 0.00002777 * 970 = 0.027 dollar
As only 11,415,629 of 42,000,000 tokens were sold, the total available supply was proportionally diminished to 14,055,048 by burning.
Darcrus burn log
|Date||Amount of Darcrus||Burn description||Tx|
|31-12-2016||30,584,372.00097119||Non-sold ICO coins (30.5M of 42M)||Link|
|06-01-2017||5,000,000.00000000||Pro ratio burning part 1||Link|
|06-01-2017||360,579.99902881||Pro ratio burning part 2||Link|
|12-01-2017||52,332.39597315||Last SIGFARM profits||Link|
|07-05-2017||4,893.01285935||10% net profit of first customer||Link|
|20-09-2017||23,373.925621||10% net profit||Link|