Dusk Network aims to use zero-knowledge cryptography to eliminate middlemen from the regulated markets while ensuring regulatory compliance. The Dusk Network token sale will be held on Ethfinex’s new token sale platform, also becoming the first token to be sold on the platform.
Dusk Network Token Sale Begins
The Dusk Network tokens will be sold on Ethfinex between October 26 and November 9. However, registration for the token sale will end on November 5. The fundraising goal of Dusk Network is $14.4 million, with $1 million of that will be available to Ethinex users. The ERC20 based utility token can be purchased against Ethereum, Bitcoin, US Dollars, Euros and Tether.
The Dusk network is a blockchain solution built on the Ethereum blockchain that guarantees the confidentiality of transactions while ensuring regulatory compliance on the chain too. In a blog post, Ethfinex describes the network as “designed for a restricted set of use cases” that range from decentralized dark pool implementation to payments.
It can also be used for secure communication and issuance of Confidential Security Tokens. It follows the SBA consensus mechanism that helps in creating privacy while allowing regulatory oversight.
The Uniqueness of the Dusk Sale on Ethfinex
The features of the Dusk Network have been designed for three primary use cases – unidirectional atomic value transfer, bidirectional atomic value transfer and time-bound exchange of value. Ethfinex has been provided $1,000,000 of DUSK tokens. The individual allocation has been pre-decided at $5,000 in ETH.
The individual amount of the ETH will also be pre-decided and will change if there is a large variation in ETH/USD rates during the two weeks of token draw entry. All DUSK tokens have been pegged to USD with the price of each token fixed at $0.0576.
The token sale will be a milestone for Ethfinex as it is the first token sale to be held on its Ethfinex Token Sale platform which launched yesterday. The platform allows users to participate in effortless and secure Ethereum based token sales. The company launched Ethfinex Trustless last month which provides security and privacy to traders and allows them to connect to the Ethfinex and Bitfinex order books directly from their Ethereum wallets.