The Airdrop ICO concept
The Bank will provide its clients the unique opportunity to receive, for free, the first ever tokens created by a Swiss bank and to gain capital when the price of these tokens will rise.
The following factors will lead to an appreciation of Dukascoins:
- Dukascoins will be released in limited quantity. Limited supply inevitably leads to a rise in price (provided that demand exceeds the offer).
- Holders of Dukascoins keeping their tokens at the Bank will be able to receive a Deposit Reward paid in Dukascoins from the Bank. The Deposit Reward rate will be based on the number of Dukascoins deposited with the Bank.
- The Bank will facilitate the sale and purchase of Dukascoins via its own infrastructure. For this, the Bank is developing a bulletin board and will secure the settlement of transactions between its clients as "cash against delivery".
- The Bank will endeavor to arrange that reputable crypto brokers and crypto exchanges will trade Dukascoins.
The Dukascoin is unique because it is the first token created by a regulated Swiss bank. The Airdrop ICO project will be subject to strict regulatory control and will comply with high banking standards. Regardless of the number of crypto-currencies that other banks may create, the Dukascoin will remain the first.
Dukascoins will be offered for free to all holders of MCA accounts according to the rules described below.
The Bank distinguishes three groups of clients who will be eligible to participate in the Airdrop ICO:
- New clients who are private persons opening an MCA account;
- Existing clients who are private persons and have an MCA account;
- Existing clients who introduce new private persons opening an MCA account (further called as Referrers).
Dukascoins will be released only upon the opening of a new MCA account by a private person. For each new MCA account, 20 Dukascoins will be released by the Bank and distributed as follows:
- Five Dukascoins to the new MCA client;
- Five Dukascoins to the Referrer. If the MCA client has no Referrer, the Bank is considered to be the Referrer and receives 5 Dukascoins;
- Ten Dukascoins to the Bank (to cover costs related to clients onboarding, Dukascoins Deposit Reward payments, regulatory environment, IT infrastructure, marketing or any other activities).
Legal entities will be able to receive Dukascoins in the frame of the Airdrop ICO only if they act as a Referrer. However, legal entities will be able to buy Dukascoins on the secondary market. Explicit identification of a client during the account opening process absolutely excludes that any same person will be able to get the initial portion of Dukascoins twice or more and excludes the risk of fraud on this level.
To ensure Dukascoins distribution transparency, the Bank will publicly report the number of MCA accounts and the number of released Dukascoins on a daily basis.
The Bank guarantees that the release of Dukascoins will happen only as mentioned above. The compliance to this release rule will be subject to an independent audit.
For MCA clients who are private persons and who opened their account before the Airdrop ICO of Dukascoins, the Bank will also release 20 Dukascoins per MCA account and will offer the following:
- An MCA account holder who does not benefit from the MCA promotional program will receive five Dukascoins and his/her Referrer, if any, will receive five Dukascoins as well. Ten Dukascoins will be credited to the Bank. If the MCA client has no Referrer, the Bank is considered as the Referrer and additionally receives 5 Dukascoins.
- If the Bank is not be able to transfer 5 Dukascoins eligible to an MCA account holder who cannot benefit from the MCA promotional program (MCA account closed, blocked or under the cancellation procedure) the Bank will release all 20 Dukascoins in favor of itself.
- An MCA account holder and his/her Referrer who received 5 EUR pursuant to the MCA promotional program will be offered the possibility to buy 5 Dukascoins at the price of 5 EUR during a period of 1 month starting from the date of the Airdrop ICO. 10 Dukascoins will be credited to the Bank. If the MCA client has no Referrer, the Bank additionally receives 5 Dukascoins. All Dukascoins not purchased by MCA clients or by their Referrers pursuant to this offer will be awarded to the Bank.
The Bank has the right to limit the number of referred clients per one Referrer (10 000 per one Referrer for the initial period of Dukascoin's circulation). The breach of the limit and special conditions or referral reward will be subject to a dedicated agreement between The Bank and Referrer.
The Bank will not take any other obligations than releasing Dukascoins as per the conditions set above.
Specific limited cases
The Bank can apply the following methods to increase or decrease the number of Dukascoins in circulation:
To increase the number of Dukascoins in circulation the Bank can award users of Dukascopy Connect 911 and clients of the Bank with additionally released Dukascoins for performing certain challenges. Such limited campaigns will be publicly announced on the website of the Bank and included in the common statistics of released Dukascoins. Dukascoins released via limited campaigns will be credited to a custody subaccount of the Bank’s client or to the external wallet of the Dukascopy Connect 911 messenger’s user.
To decrease the number of Dukascoins in circulation, the Bank can reclassify their own Dukascoins from released to unreleased. The consequences will be the following: cancellation of legal ownership rights of the Bank to these Dukascoins, transfer of those Dukascoins to storage as unreleased Dukascoins and the corresponding decrease of the amount of Dukascoins circulating on the secondary market. Such reclassification will be publicly announced on the website of the Bank and included in the common statistics of released Dukascoins.
The Bank may perform exceptional supplementary releases of Dukascoins to award the strategic partners of the Bank for significant contributions in the development of the Dukascoin project and extension of the scope of applications of the Dukascoin in the economy. Such exceptional releases will be publicly announced via addendums to this White Paper, published on the website of the Bank and included in the common statistics of released Dukascoins.
When the exchange rate of the Dukascoin comes close to 10 EUR per 1 coin, the Bank may implement additional methods of Dukascoins release and support. It will be announced on the Dukascoin website (www.dukascoin.com) as an addendum to the White Paper. These measures will be aimed to facilitate the usage of the Dukascoin as a means of payment.