From Dusk till Dawn - How a project weathered through the bear

So Binance.com made a surprise listing announcement for DUSK at the start of the week and sent the price on other exchanges from $0.233 USD to $0.64 USD - A nice 2.7x. It then opened for trading shortly after on Binance.com with a price of $0.667 USD before a strong dip back down to $0.277 USD levels - RIP profits.

While there were plenty mentions of DUSK, it seems that most of the crowd is wondering what the heck is Dusk and are pretty negative about it.

Crowd's reactions

• What, the, fuck is dusk network. Are you kidding binance
• Yes, DUSK it's shit coin
• You all remember how FTM pumped massively before listing and got dumped after listing. Well DUSK is here again.... Wash, rinse, repeat...
• Dusk top loser Dusk=Dust😂
• dusk is a scam do not buy

From Dusk till Dawn

But the Binance.com listing wasn't a random one though, the road to that was pretty well planned beginning with Dusk Network their integration with Binance Chain on 2nd July. Following that, other exchanges like Ethfinex/Bitfinex and Bittrex also began listing DUSK.

Interesting note is that Dusk Network was the first to conduct a token sale on Ethfinex's platform in November 2018 but it wasn't until recently that it was traded. It pretty much spent most of its time in "stealth". Probably why most of the crowd don't know/forgot what it is.

They raised a total of $8.08M from the token sale with price per token = $0.0404 USD (6x ROI atm) and tokens are vested since. However, participants have chosen to re-vest according to their latest blog post addressing the BEP2 and ERC20 vesting terms.

BEP Vesting terms
BEP tokens are vested linearly from the 1st of July up until the 30th of November.

ERC-20 Vesting terms

• Partnerships & exchanges:
  Old: fully vested immediately.
  New: 31-July-2019 through 31-Dec-2021.
  Implemented lock and additional vesting of 1,5 years.
  
• Technical Development Fund:
  Old: 31-May-2019 through 31-May-2020.
  New: 31-July-2019 through 30-Apr-2022.
  Increased lock by 2 months and added 21 additional months of vesting period.
  
• Marketing & events tokens:
  Old: 31-May-2019 through 31-May-2020.
  New: 31-July-2019 through 31-Dec-2021.
  Increased lock by 2 months and added additional 1,5 year of vesting period.
  
• Team tokens:
  Old: 30-Nov-2019 through 30-Nov-2020.
  New: 28-Feb-2020 through 31-Dec-2021.
  Increased lock by 3 months and added additional vesting by 11 months.
  
• Advisor tokens:
  Old: 31-May-2019 through 31-May-2020.
  New: 31-July-2019 through 31-Dec-2021.
  Increased vesting period by 1,5 year.

Pumps and whatever dumps aside, it looks like Dusk Network and its investors did pretty well in hedging market risks, considering the altcoin slaughter since 2018. Dusk is still a 6x gain for token sale participants at the moment.

Had it been listed as soon as the token sale ended and tokens fully released instead of being vested, things would have been much different.

Fundamentally, the project looks sound and the team is active in shipping code. However, it is still early in its development (mainnet not launched).

Current circulating supply is still low at 35.9M / 550M tokens according to Coingecko. With the latest vesting schedule, we should be seeing 50% (250M) of the total supply circulating by November 2019. So that's an increase of 6x potential sell pressure. I'm not too certain whether they have enough going on their roadmap to handle that sell pressure. But if crypto logic remains true, we should be seeing a run up as it head towards mainnet in Q4 2019.