Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Silk Network: DarkSilk(DSLK) ICO
by
Orestes
on 24/09/2016, 23:45:37 UTC
Hi guys,

I have a question regarding the ICO:
I think I understand how the price will be pegged (from the plain English statement in the main thread), but the formula

MAX(PRICEWEEK(N) ([AMOUNT] BTC x 4 / 1,528,000 DSLK)
is not really clear.

Is what you mean that the price for one DSLK (in BTC) will be
Code:
DSLK_PRICE = max( WEEKLY_ICO_FUNDING_VOLUME_IN_BTC ) * 4 / 1,528,000
?

Cheers, and good luck with the ICO

Thank you for the thumbs up. Nice cleanup, we added a parenthesis at the end as a correction to the original typo. Basically what it says is that we consider every weeks ICO funding and measure it against each other in order to set the price. In the event that demand forces us to increase price the most volatile period would set the norm. The bonus multiplier would dampen this a bit for those who got in early.