The DAO Creation Period Price Schedule

The moment has arrived and today is the first day of The DAO Creation Period (DCP) Price Increase Phase. However, it turns out we still have 24 hours to acquire tokens at the original price. We will detail below how exactly the times/dates were miscalculated, but the short version is this:

The increase phase starts today but the first day of the price increase is 0. This means, everyone still has 24 hours (until Sunday May 15th 9.00 UTC) to acquire tokens at the price of 1 ETH for 100 DAO Tokens. But, don’t relax for too long. The clock is still ticking and will follow the schedule detailed below:

As some of you may know the DAOHub Token Creation module on the DAOHub website is based on the Token Creation Contract found here, used by the DAO to create its tokens and initialize its ether supply.

Two weeks before the close of the The DAO Creation Period this section of code kicks in to manage the increases. One quirk of this code is that the first day of the price increase is actually based on a calculation of 0 being added to the calculation, so even though today is technically the beginning of the increase, it only increments to a full 0.05 ETH increase in the actual ETH price as of Sunday May 15th 9.00 UTC.

Following this it will continue to rise by 0.05 ETH every day at 9.00 UTC until May 24th when the price will remain at 1.5 ETH for 100 Tokens until completion of The DAO Creation Period on 9:00 UTC on May 28th.

For an exact breakdown by date see the following table…

Note: This post was a group effort thanks to various members of DAOHub. Thanks to all involved and to those with a keen eye who noticed this detail ;)