DECS Update - July, 2020!

Exciting update on DECS. What to expect in the near future?

The purpose of this article is to give you an important update on DECS. The recent successful launch of Darico's Digital Exchange (Darico.io) has been the most significant milestone we have achieved so far. Darico has been a pioneer in proposing community ownership structure for its entire ecosystem – both existing and future components. 

Darico Exchange is based on the exact same principle, and it would be the first-ever crypto exchange that is 100% owned by our community. We are extremely positive that the launch of the exchange will be a crucial turning point for the project's direction moving forward. 

In regards to highly anticipated DECS, we were thrilled to see the grand reception of DECS by our community. Below is the timeline of what has happened with DECS till now. 

Snapshot Event | December 2018 

The amount of DEC you were holding in your wallets has been captured.

Distribution of TDECS | January 2019 

We have distributed TDECS as the proof of DECS ownership to individuals owning DEC on the snapshot day. The condition was to transfer your DEC to exchange in order to claim the DECS. 

DECS Update | August 2019

In this update, we have given an exception for those who deposited their DEC to the '2019/20 staking fund' and to the ones who traded their DEC on Darico's conventional brokerage platform.

The Current Update

We want to let you know that the process of issuing DECS is still in progress. It might take a bit more time considering the legal complication of multi-entity ownership structure in different jurisdictions. 

Having that said, we would like to announce that all of the individuals holding DEC are recognized as stakeholders of the project. The ownership will be proportional to your current DEC holding for receiving benefits from revenue generated from the exchange. In simple terms, the more DEC you own (or continue to hold), the more is the ownership you'll have over the project.

Important Notes:

• Individuals holding TDECS need not be concerned over receiving your DECS as long as they hold DEC.
• In order to receive revenue share from the exchange, a minimum holding of 1000 DEC is required.   

Please note, all DEC holders would be eligible for a free 1:1 DECS airdrop as and when it's finalized and ready to be distributed.

This was to thank the community for their continuous support and belief in the project despite delays in launching the exchange, and to incentivise new community members with an option to claim free DECS.

The project's positioning and future milestones have been updated, and we will be communicating the same with you soon.

Sincerely,

Darico Team