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DarkCrypto Protocol powers the first ecosystem centered on DARK-an algorithmic token pegged to CRO on the Cronos chain. The protocol uses a solution designed to recalibrate the stablecoin supply in a deterministic way, aiming to push the stablecoin’s price toward a chosen target. This is intended to add both programmability and interoperability for DeFi. Drawing inspiration from the original Basis concept and its earlier variants, DarkCrypto is a multi-token system made up of three tokens:
DarkCrypto (DARK): the algorithmic token pegged to CRODarkCrypto Shares (SKY): grants holders the ability to claim DARK inflation as the network growsDarkCrypto Bond (LIGHT): available during network contraction and redeemable for DARK once the network reaches its deflationary stage.The DARK token is meant to function as a medium of exchange. Its built-in stability design deterministically increases or decreases the DARK supply over time to keep DARK pegged to 1 CRO in the long run. Note: DARK uses an algorithm to maintain the peg, but that does not imply it will always trade at 1 CRO since it is not collateralized. DARK should not be mistaken for a crypto- or fiat-backed stablecoin.
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