ShadowCash Proposal Conditions
1.) Converted funds will be locked for a period of 90 days
2.) We're looking for some kind of commitment from the core team that they'd work on darkcoin for at least a year beyond this. They could work on whatever they like, at the pace they're working now.
3.) DRK Will be paid for in a 1:1 relationship, dollar wise from this moment forward. 494909 (SDC MarketCap) / 9833182 (DRK Market Cap), therefore 5.03% of the total number of DRK coins will be created on a future block, totaling 240277DRK. The exchange rate will be 31.33SDC for 1DRK.
4.) SDC users will be awarded DRK based on coins destroyed and signed (sign the private key proving you own the key). A user will send coins to a non-redeemable address, if those coins for example equal 1% (64435 SDC) of the total number of SDC ( that would amount to 2056DRK being awarded.
LOVE IT! This will rock the community. It also sets a precedent akin to M&As back in the fiat world.
Edit: To be clear, I did not like this idea at first. At first blush, it feels dilutive to the Darkcoiners. But I believe Evan is being very thoughtful here (and definitely experimental, which is how real change happens anyway) and sends the right message. There is too much cockiness and overconfidence in the alt community, with each coin dev thinking they can go it alone, and up against Bitcoin no less. It's ludicrous. Bitcoin will not be unseated except to fall from within. However, complementing Bitcoin in specialized areas remains possible, but only if there are a few alternatives. The public will not accept 400 currencies.