Terms and conditions of converting DBC to CENTUS
The CENTUS Stable Cent token test period has ended. As previously planned, we are announcing the beginning of DBC to CENTUS token conversion. The conversion will take place in several stages.
1. The conversion of DBC to CENTUS will be conducted in the form of an open auction among participants according to the principle of “first offered more, first converted.”
The 1st auction will be started on October 20, 2019.
2. The starting price of the auction is set to 1.4326 DBC for 1 CENTUS (based on the voting results https://coinger.im/centus-value-voting).
3. The total number of CENTUS put up for the 1st auction is 1,000,000 tokens.
4. The total number of DBC allowed for conversion at all stages is 30,000,000 tokens.
5. In order to maintain a stable CENTUS price for bidders who won the auction, tokens will be credited to Multisig accounts at Interstellar with the condition that the coins will unfreeze after reaching CENTUS* capitalization:
1 million USD — 10%
2 million USD — 20%
3 million USD — 30%
4 million USD — 40%
6. Due to the fact that during the voting process some participants created duplicate applications and made other errors, we believe that it is necessary to audit the final data in order to determine the final price.
Participants are invited to form an independent commission consisting of responsible persons who would verify the voting results. You can see voting results in the public domain at https://bit.ly/2Mts2SZ.
To exclude the possibility of data distortion during the audit process, we have made a copy of the original results.
After 3 days, if the comission not set a different price, the current price of 1.4326 DBC will be set as the starting price.
Since the auction will be held in the format of the FIFO line, the assets of those participants who were the first to offer the best conversion price will be unfrozen first.
Other things being equal, preference at the first stage of conversion will be given to the active members of the Telegram group, who helped us in the early stage of the project development. CENTUS holders will be able to convert DBC in the first place — the higher the amount, the closer the line.
At the second stage of conversion, the starting price of the exchange will be the price set by the results of the first auction.
The multisig account of the participant must contain 3 signatures, one of which belongs to himself, and you will need to add 2 other signatures as co-signers.
Public addresses to add to Interisellar’s Multisig accounts:
Instructions for setting up a Multisig account in the Interstellar wallet are here.
All questions and suggestions regarding the terms of the auction, please ask in the Telegram chat.
We wish you all great success!
*Unlike the market capitalization of all issued tokens, the effective market capitalization takes into account CENTUS actually in circulation, at present — 16.624.011 CENTUS.