The Bank has offered an infrastructure for clients enabling them to make public or private offers to buy or to sell Dukascoins at their chosen price.
Private offers could be sent directly to the intended client(s), via the Dukascopy Connect 911 messenger.
For public offers, the Bank has developed a bulletin board (see above) where all offers are published and available for acceptance. Offers can be placed and taken only by MCA account holders through the Dukascopy Connect 911 messenger.
The Bank secures the settlement of transactions via the bulletin board. The Bank is checking all announced transactions for exchange between fiat currencies and Dukascoins through technological means in order to avoid any fraudulent activity and to ensure the execution of the deals. Offers placed on the bulletin board are available to be taken by any MCA account holder without further confirmation from the client who had placed the offer.
The Bank will not provide any automation for matching opposite offers, will not ensure FIFO or guarantee the execution at best price. Every MCA account holder has full freedom to choose manually any offer on the bulletin board.
There are two types of orders available: Fill-or-Kill and Partial Execution. Fill-Or-Kill orders are those which would be executed only if the full order amount is taken. Partial Execution allows part of the offered amount to be taken.
Clients are also able to determine two order expiration types: Good Till Cancel (without predetermined expiration time) or Good Till Expiration (with determined expiration time).
Each deal executed through the bulletin board is indicated on a public log of deals. In the future, it will be possible to express offers in different fiat currencies. Public log page and widget are currently under development.
All deals made through the bulletin board are indicated on an online chart showing historical prices. "Out of the market" prices are filtered on the chart to avoid spikes.
Every new client receiving the initially released 5 Dukascoins on their newly opened MCA account has the right to sell them to other MCA clients. MCA account holders interested in purchasing them has the right to make an offer to the new client. The Bank itself may also make its own offer.
On the secondary market, the Bank can buy Dukascoins only from MCA clients and Referrers.
To stimulate the liquidity at the internal marketplace, the Bank periodically pays bonuses to the selected marketplace liquidity providers – namely Fat Catz. Conditions of that selection are published on the Dukascoin website. Those conditions are subject to change and all amendments will be publicly available.
Clients selling Dukascoins pays a commission. The current level of the commission is 1%. The commission rate is subject to change at the Bank’s discretion. The information about rate and conditions of the charge is published on the Dukascoin website. The commission charged will be accumulated to award the Fat Catz mentioned above. The collected amount of bonuses to be distributed among selected liquidity providers is announced on the Dukascoin website at the end of each period.
The Bank itself does not receive such bonuses to avoid conflicts of interests.
Dukascoin’s Fat Catz are a prestigious group of our crypto-community members. They will enjoy a significant additional income and other financial and non-financial benefits.
The Bank endeavors to regulate Fat Catz constitution rules with the idea of promoting those who make the most important contributions to the development of the Dukascoin marketplace.
The Bank is free to choose whether to provide or consume liquidity of Dukascoins on third party independent exchanges as well as on the internal marketplace.