Under the joint DUKASCASH brand, Dukascopy Bank introduces the family of universal digital payment means issued in a transparent manner by a Swiss regulated bank and denominated in different fiat base currencies.
Dukascash is designed by the Bank as “soft-linked coins” or low volatile tokens against its base fiat currencies. It is addressed to a wide range of users.
In the initial stage of the Dukascash introduction it will exist in the form of dedicated ERC-20 smart-contracts over the Ethereum blockchain and represents tokens softly linked to EUR, USD, CHF and other base currencies chosen for Dukascash creation. Tickers for the dedicated tokens will be EUR+, USD+, CHF+ and other tickers generated according to the same principle. The list of base currencies can be extended upon client’s requests.
Dukascash tokens are emitted against Dukascoins or fiat currency equivalent payment counted on the basis of applicable exchange rates. The Bank issues Dukascash tokens to be traded mainly at external trading venues.
The Bank continuously sells and buys Dukascash tokens in exchange for Dukascoins as a market maker. The Bank may quote Dukascash tokens against Dukascoins or fiat currencies or other Dukascash tokens.
Till the moment when the Bank announces the contrary, the development stage of the Dukascash project is considered as public testing. For this period the minimum size per transaction is established at 1000 or more tokens. This measure is intended to exclude retail clients from the public testing stage. During public testing the Dukascash White Paper represents a conceptual project. The details of implementation may be changed. The Bank will make every effort to implement the project as close as possible to the procedure outlined in the Dukascash White Paper. Nevertheless, depending on the market situation and plans of the Bank itself, the Dukascash White Paper may be amended and supplemented at the discretion of the Bank. During the public testing stage the Dukascash White Paper does not create any obligation for the Bank to launch and maintain the products and/or services listed there. The public testing stage starts on the 3rd of July, 2019.
Independently on the results of public testing, possible future amendments to the White Paper and continuation or discontinuation of the project, the Bank takes an obligation to buy back all Dukascash tokens purchased by clients during the public test phase.