The DarkForge will serve as a critical mechanism for the DARK ecosystem and will be implemented in a phased and iterative approach.

The forge allows users to deposit approved(managed by governance) digital assets(e.g. ERC20, ERC1155, LP tokens) to receive a predetermined amount of sDARK(StableDark) based on the length of time in days(30, 60, 90, 180, 365) or permanent release. This predetermined amount will be determined by various strategies and valuation methods. The longer the release the more sDARK you would receive in return. It is important to note that permanent release is irreversible upon confirmation. Upon release the DarkForge can leverage and utilize the deposited assets for benefits of DARK holders. The key concept here is sDARK being minted into existence that is actually backed and the variability of that backing makes it a viable speculative vehicle.

Depositors will have the option to early withdrawal(only for timed releases) their digital assets by paying a penalty fee. The penalty for early withdrawals diminishes as the lockup agreement matures, resulting in 0 penalty once your contract has expired. The penalty fee will be paid in the underlying asset and used for the benefit of DARK holders and the DarkTreasury. Ideally, deposits would be made permanently. At the end of your contract period you will be able to withdraw your deposit. The permanent deposits are owned wholly by the forge. Incentivizing permanent deposits will be a priority of the DarkForge. The criticality of a permanent versus temporary lock-up is that we can more objectively utilize permanent lockups as a backing to sDARK and additional earn strategies.

Forge Backing

The most critical aspect of the DarkForge is a backing mechanism. It is a measure of assets that have been released to the forge for a specified amount of time. It enables the DarkForge to issue sDARK with a Forge Backed % and then leverage the deposited assets for yield farming, lending, selling and other forms of leveraging which further reinforces the backing % validity and yield returned to or used for bolstering DARK valuations. The variability of the deposited assets in time deposited and price will force strong incentives for permanent release versus time based releases. The speculation of the backing itself is a welcomed scenario in this event as it is a direct speculation on the value of the DarkForge at some point of time in the future and indirectly sDARK.

Dark Forge — Phase I (Initial Backing Event)

The initial implementation of the DarkForge, Phase I, will incentivize backing via deposits by DARK holders, DARK/ETH LPs and “vaulters” and offering additional incentives to certain threshold of deposits. For example if you deposit 100 DARK you receive a higher return of sDARK versus someone who deposited 15 DARK. DARK/ETH LPs who commit liquidity for a timed or permanent will also receive sDARK for the critical services provided and committing LP tokens to the forge. Access to the sDARK for timed releases will be scaled out versus immediate for permanent. It is very critical to get as strong a backing of the DarkForge and its issuance of sDARK in a short amount of time hence this initial backing event. During this phase sDARK can also be locked for a period of time further bolster the backing of the DarkForge. It is important to note that in order to avoid a shock to this emerging ecosystem, rebasing will not go live until an adequate backing has been established, and the market valuation has responded appropriately. (i.e. we won’t activate rebasing with sDARK price at .20, poor liquidity, and a weak backing). We are still looking at finalizing all the metrics and incentives for the IBE and will share them as soon as we can.

The timing for DarkForge Initial Backing Event(IBE) will be after DarkSwap launches on Matic and Ethereum and we will communicate specifics as soon as they are available on all social media and engagement channels. Speaking of engagement channels. Please join us below to join the discussion and community.

Phase 2

Phase 2 will reveal the interplay between DARK, sDARK, DarkForge, and everything else in the Dark ecosystem. Every product will support the ecosystem and add value. More information will be released as we are able to share specifics.

Links

Acquire: https://app.uniswap.org/#/swap?inputCurrency=0x3108ccfd96816f9e663baa0e8c5951d229e8c6da

DarkVaults: https://dark-vault.netlify.app/#/

Website: https://www.dark.build/

Twitter: https://twitter.com/DarkBuild1

Discord: https://discord.gg/darkbuild

CoinGecko: https://www.coingecko.com/en/coins/darkbuild

Telegram Discussion: https://t.me/darkbuild