Inspired by the original idea behind Basis as well as its predecessors, DarkCrystal is a multi-token protocol that consists of the following 3 tokens:
DarkCrystal Token ($DARKCRYSTL): The algorithmic token pegged 1:1 to WCRO
DarkCrystal Shares ($MINE): Claim DARKCRYSTL inflation when the network expands
DarkCrystal Bond ($DARKBOND): Purchase when the network is in contraction and can be redeemed for DARKCRYSTL when the network comes to its deflationary phase.
It involved an innovative solution that can adjust the token supply deterministically to move the price of the token in the direction of a target price to bring programmability and interoperability to DeFi.
The protocol’s underlying mechanism dynamically adjusts DARKCRYSTL supply, pushing its price up or down relative to the $WCRO price. However, there may be times where DARKCRYSTL loses its peg to $WCRO. If our protocol is functioning as intended, DARKCRYSTL will follow $WCRO to keep pegged at 1:1.