1. Purpose of issuing DC
From paid to free, from free to ecological interest community, blockchain has further upgraded the business paradigm and Deepcoin hopes to conduct innovative explorations based on this. Constructing a high-latitude paradigm of transaction ecology, valuating effective behaviors, creating a new exchange ecology-related party benefit distribution mechanism, and share long-term development results with all parties. The core means to achieve this goal are to establish an effective ecological token mechanism, including:
- Allow effective behaviors to obtain tokens so that to form in-depth incentives for the communities,
- Establish a systematic and programmed adaptive control mechanism to form an attractive consensus on sustained and stable price increases.
2. What is DC token?
DC is an ecological token launched by Deepcoin and was issued as an ERC-20 token, running on the Ethereum network, it never issues more or carries a public subscription. Unlike other tokens, DC adopted the method of associating the unlocking process with its price rather than carrying a large amount of circulation first then burning them slowly, for example, each unlocking round can add up to 1% of the total and the total amount of the first round of DC is capped at 1%, when the price increases by 0.1u, the new Nth 1% will be added. In order to encourage users to hold for a long time, Deepcoin introduces the concept of DC points, repurchasing DC on the Deepcoin spot secondary market with a certain proportion of income and airdrops to the corresponding holders according to the proportion of DC points.
3. Basic information of DC
Total supply: 1 billion
Issue price: 0.2 USDT
High price on the listing day: 1.6888 USDT
Initial liquidity: 1% (10 million DC token)
Issuing method: The DC mining period will be 100 rounds, Genesis Mining starts from January 1, 2021 to March 31, 2021, General mining starts from April 1, 2021. The total issuance volume and distribution volume each round will be fixed at 10 million. Each round is adjusted depending on whether the unlocking conditions are met.
Issuance conditions: At the end of the current unlocking period, if 1% of the unlocked amount of this round has been generated, and the average DC close price for 7 days (from the day when all DC for the current round is mined) exceeds the Nth round unlock price (Calculation formula of DC unlock price: 0.2+ (N-1) * 0.1USDT) then the new Nth 1% circulation amount will be unlocked. Otherwise, no new circulation amount will be unlocked in the next week.
4. Unique unlocking mechanism
Inventory unlocking stage: The period during which all DC token of 1% in the current period cannot be unlocked and are continuously unlocked.
At this stage, as incentives mechanism for trading behaviors, we will use part of interest to repurchase DC from the market and return to trading users. And 50% will be used to repurchase DC from the market in market orders, and the remaining 50% will be released from the current lock inventory at the unlock price.
Circulation stage: 1% of the current round was unlocked and released to the market. However, since the price of DC has not risen to the unlock price for the next round, the next 1% DC is not possible.
At this stage, all of the unlocking trading fees will be used to repurchase DC token in market orders. By reducing supply, we will accelerate price increases so that new locks can be unlocked.
5. Trading mining
Trading mining means that if you trade on the Deepcoin exchange and occur transaction fee, a part of it will be returned as DC token. It works essentially like a discount on trading fees. What's more, DC token can be predicted to increase in price by 5 to 10 times in 6 months.
Trading mining supported services: Inverse Perpetual Contract, USDT Perpetual Contract, USDT contract, Spot, Options.
DC mining ratio varies up to 30% depending on the membership level. The table below shows the DC mining ratio corresponding to the level.
6. Unlock conditions for users
◆Airdropped DC:
The first round of airdropped DC token can be unlocked by trading 10USDT or more in spot (DC or USDC trading are not included) or contract. Once a user upgrades to VIP-1, he could unlock the DC token for current round, and the same rule applies for the rest rounds.
>>How to reach level VIP-1?
Please note that if you do not unlock during the period, the DC token for the current round will be automatically recycled. If it is automatically recycled 3 times in a row, all airdropped DC token will be recycled.
◆Trade Mining：
50% mined DC can be sold in spot market. The remaining 50% will be locked in 100 rounds. And can be unlocked by one transaction every round.
7. Roadmap
2021 Q1: Pre-mining stage/DC trading pair listing/Volume-price correlation unlocking mechanism posting
2021 Q2: Crypto days mechanism posting
2021 Q3: DC holding points mechanism
2021 Q4: Updating...
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