Darico is a digital token based on the value of gold, bitcoin, and Ethereum. Find out how it works today in our review.
What is Darico?
Darico, found online at Darico.io, describes itself as "your easy-access gateway to safer cryptocurrency investment." The company aims to make it easy for ordinary investors to access the enormous potential of cryptocurrencies. You buy a token, then gain exposure to three different assets (gold, bitcoin, and ethereum) simultaneously.
The pre-ICO for Darico tokens is taking place throughout December. You can purchase tokens during this sale to solidify your position as a genesis node, in which case you get to emit Darico tokens over an 18 year period.
How Does Darico Work?
All Darico Coins are purportedly backed with 35% solid gold held in custodial vaults. The remaining percentage of the coin is backed by 55% bitcoin and 10% either. The end result is that you enjoy the high growth potential of cryptocurrencies like Bitcoin and Ethereum while also getting the stability of gold.
Like other gold-backed digital tokens, Darico advertises gold as a safe haven. It's been treasured for centuries, and it continues to have value to this day. By basing the value of its token on gold and cryptocurrencies, Darico gives investors the best of both worlds. 90% of funds raised during the Darico ICO will go towards buying the bitcoin, Ethereum, and gold that back each Darico coin.
You manage your Darico tokens through the Darico wallet. The company also claims to be working on an app. The entire platform is built on the Ethereum blockchain. All funds purchased by the company will be kept in reputable, cold storage, third-party vaults located in Switzerland.
The platform uses Ethereum's proof of work algorithm for mining. It also uses Ethereum smart contracts to implement the emission protocol. Tokens are emitted through Darico's "delegated proof of ownership" or dPOO. That smart contract allows Darico genesis accounts (labeled "DRX") to emit new coins at a specific rate. The genesis account is actually a smart contract executing on the Ethereum virtual machine (EVM).
By the end of 2018, Darico hopes to launch a number of additional products, including a messenger app (Q1 2018), a trading module for that app (Q2 2018), indexes and cryptocurrency pools for the app (Q3 2018), investment funds (Q3 2018), and smart mortgage contracts (Q4 2018).
How to buy Darico coin (DRC)?
To buy Darico during ICO you need Ethereum (ETH) or Bitcoin (BTC) first. If you do not have BTC / ETH yet, you need to buy it from an exchange that receives a fiat currency. Some exchanges receiving fiat include:
Coinbase is the most famous site to buy Ethereal. They are ideal if you are new and just want to get started quickly. (This link will also give you $ 10 on your first $ 100 deposit.)
SpectroCoin offers fiat and virtual currency exchange with over 20 available currency options.
CEX.IO allows Ethereal purchases with Visa, MasterCard, bank transfer (SWIFT, SEPA), and cryptocurrency.
EXMO accepts USD, EUR, RUB, PLN, UAH.
Once you have BTC / ETH you need to transfer it from the stock to the wallet. For ETH, MyEtherWallet is the recommended option.
From here follow the instructions provided by Darico on how to send BTC / ETH. The DRC token will then exchange directly to the same wallet with your funds.
Ecosystem
Wallet
A secure, 2FA multi-coin ERC20 and BTC wallet suitable for all crypto investors. Direct DRC purchase enabled.
Terminal
A subscription-based hub for crypto investment information, news and analysis.
Debit card
Ask for your DRC coins in hand with you at all times with the Darico debit card, which is associated with your Darico purse. Darico cards will act as a payment method that cardholders can use at any outlet that supports DRC. Darico debit cards are expected to launch in Q3 2018.
Fund
A fully regulated cryptocurrency investment fund for high value investors.
Debit CardBringing liquidity to cryptocurrency investment, this DRC-linked debit card can be used for day-to-day transactions.
Exchange
A secure, accessible cryptocurrency exchange.
Index FundA diversified portfolio of 10 to 20 highly liquid cryptocurrencies.
Who's Behind Darico?
Darico was founded in 2016 in Zug, Switzerland by a man named Mojtaba Asadian (listed as founder and CEO of the company). Asadian is described as a serial entrepreneur, author, and accomplished investor.
He graduated from the University of Wollongong in Dubai. Prior to founding Darico, Asadian was the founder and managing director of Blackhawk Capital Ltd., a London-based capital fund, and the founder and CEO of Alpha & Beta Group, a Dubai-based global consulting firm.
Auto-mining schedule
DRC is automatically mined by the DRX Smart Contract which manages and calculates how many new DRC tokens are automatically upgraded, based on the current timestamp and their respective mining rates. Initial DRC supplies are based on contributions during ICO.Further DRC is automatically mined to the DRX token address. The amount of DRC received by DRX is calculated in accordance with the elapsed time since the previous claim event succeeded.
Mining Schedule is regulated in EmissionTokens list from Dinco Logged Reserves Logged GenesisToken.sol. The emission list will be populated with TokenEmission with parameters that indicate:
● “virtual block” duration in an instant
● New coins added to total inventory in each block
● The final block number for the Entry Token entry is valid
Genesis Accounts (DRX) emits Darico from time to time in a process called Auto Mining. This bonus money will be available to claim directly from the app, which means you will generate an additional Darico just by having that account. For every 1000 DRC purchased, you will receive 1 DRX.
The Darico ICO
During the ICO, approximately one third of the total supply of Darico tokens will be issued to early investors. That's a total of 32.5% of the 240 million total supply (78 million Darico coins). 25% of the 240 million will be made available to the public, and 7.5% (18 million) are reserved for ongoing costs, the team, advisors, and founders.
90% of funds raised during the token sale will go into buying the assets for the fund (the Ethereum, bitcoin, and gold). The remaining 162 million tokens (67.5%) will be mined by genesis accounts over the next 18 years. The pre-ICO for Darico tokens continues until the end of December 2017. The exchange rate is set at 1 ETH = 110 DRC during the pre-ICO.
A specific date for the ICO has not yet been set. However, it will take place sometime during Q1 2018.
Darico Conclusion
Darico is a unique cryptocurrency investment. The company claims to be putting 90% of funds raised during the ICO to three assets, including gold, bitcoin, and Ethereum. 35% of the funds will be used to purchase gold, while the remainder will go towards bitcoin (55%) and Ethereum (10%). This is designed to expose investors to the high-growth potential of cryptocurrencies while also helping stabilize their investment with the time-honored stability of gold.
What's the advantage of purchasing Darico tokens from the company instead of just purchasing these assets yourself? I'm not totally sure. The Darico whitepaper mentions several features that may be implemented in the future - including smart contract-based mortgages.
They also heavily promote the idea of "genesis accounts", which are contracts built from Ethco and at a specific rate. Where does the money to buy new gold, bitcoin, and Ethereum come from? How much gold is linked to each Darico token? I'm not sure. However, the company claims it will issue a weekly proof of reserve to investors.
Ultimately, there are some questions that remain unanswered about the Darico project. However, you can learn more about Darico online and select it by yourself. The pre-ICO is underway throughout December 2017, with a major ICO taking place early in 2018.
Roadmap
Contacts
The developers can be contacted using the link below:
ETH Address : 0x4be0D62Fc296136326F1A6BB6E3A543472c41820
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