Hello friend,
My name is James and I am the founder of Etheroll. If you are already familiar with us, the last time you heard from us was back in June of 2016 when we announced that we refunded all Ether raised during our initial crowdfunding campaign, due to the fact that the infamous DAO hack happened right in the middle of our crowdfund campaign. Wild times. You can read more about how we handled that situation here.
Five months ago, we polled the Ethereum community and asked if you think we should run our crowdfunding campaign again. Once again, you guys were right behind us and the results of the poll were extremely positive, as you can see here.
Since then we have been busy developing our new dice game and hired 3rd party independent smart contract security auditors to audit all of our smart contract code to ensure the absolute safety of our smart contracts. Today, we are pleased to announce that we have passed our smart contract security audits and will be releasing the results of the security audits to the public in the coming days.
Now to the fun stuff.
We have a completely new dice game that is in beta and available to play on Ropsten testnet. You can find it at http://etheroll.com. Because we are currently in beta mode our smart contract is currently deployed only to the Ropsten network, so no real Ether is currently at stake.
Our new UI brings the full experience of traditional dice games to Ethereum.
Players can set their own odds using our slider which means they can set their own % chance of winning (adjustable odds) as low as 1%, or as high as 98%. This means players can adjust each bet they place to suit their own individual risk profile. Our house edge is a low 1% and there are no sign-ups or deposits required.
Our random number is sourced via Random.org via Oraclize.it. This is currently the safest way for us to generate random numbers. We will continue to develop our random number generation, and this is certainly not the final implementation, it will require a continually iterative approach.
To play, we currently recommend using the Mist browser. You can use Metamask (which we love) to place bets, but please note there is an issue that we have raised with Metamask here and as always, they are working on a fix, so we will update you as soon as that happens.
Ropsten testnet block times are slow, sometimes taking up to 1 minute for each block. Our bets are processed in ~3 blocks. We are restricted by block times, however, as Ethereum moves towards PoS block times will come down to <3 seconds, which means our bet processing times will be much faster.
Announcing the Etheroll crowdfund
We now have a security audited dice game ready to roll on Ethereum, now all we need is a house bankroll in order to accept and payout winning bets. That is why we are inviting you to bet on the house.
Fuel the crowdfund with Ether during our token creation phase, and you become the holder of ÐICE (ROL) tokens which grants you rights to a share in the profits the house generates, as well as the right to vote on proposals (new games/features/house edge).
During the crowdfund, when our crowdfund address receives Ether, ÐICE (ROL) tokens are sent directly to the sender.
Each ÐICE token grants its owner the following rights and has the following characteristics:
Direct earnings - Proportional to the number of tokens they hold. Token holders as a collective receive 100% of the profits generated by the house every 12 weeks.
Tradeable - The ÐICE token will be tradeable on popular exchanges.
Voting rights - Tokens enable holders to vote on proposals. For example, lowering or raising the house edge, or, adding a new game to the suite.
Pre-register your interest today:
Click here to learn more and to receive email updates on our crowdfund.
Important Details
Start Date: The ÐICE (ROL) token creation phase begins at 10:00 UTC February 13th 2017
Duration: 14 days.
Conversion schedule:
Week 1: 1 Ether (Ξ) for 200 ÐICE (ROL) tokens
Week 2: 1 Ether (Ξ) for 100 ÐICE (ROL) tokens
# of tokens available: 25,000,000
Note: The founding team is pre-allocated 10%. Any tokens that may remain unsold after the token creation phase will be destroyed to rule out any possibility of dilution. There will never be another mintage of ÐICE tokens.
Use of funds
80% of Ether created during the crowdfund will go directly to the bankroll which forms the house bank in order to pay winning bets and generate Ether via the 1% house edge.
20% of Ether created during the crowdfund will go directly to Etheroll for continued development of the ecosystem.
Rewards
Token holders as a collective receive 100% of all Ether the house generates. Rewards are available to token holders on a recurring 12 week cycle. The amount of rewards available to each token holder is proportional to the amount of tokens they hold in relation to the total supply. For example, if you own 10% of all tokens, you would be allocated 10% of all the rewards available, in perpetuity.
To learn more about our crowdfund, please visit our website at http://etheroll.com
Please note, this is only a beta. We are still ironing out some kinks on Ropsten, so expect there to be some issues, most of which we are aware of, however, if you do notice something, please let us know with a PM. We will soon open up issues on Github. We do expect the platform to be a little unstable with this beta release.
Pre-register your interest today:
Click here to learn more and to receive email updates on our crowdfund.
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So the dice game is gambling with ETH right. What are the rules of the game?
That is correct. Testnet ether only whilst we are in our beta, with a target launch date of March 2017 using real ether on main-net.
There are not too many rules;
If the result of the dice roll is lower than your 'Roll under'' number (as shown in the middle colum), your win is sent to you automatically. If you lose, the contract will send you back 1 Wei. The house edge is 1% - half of Satoshi Dice.
And am I playing against people, or the computer?
A computer, sort of... The result of the dice roll is determined by Random.org, which sources its random numbers from atmospheric noise. We use an oracle to feed the random number onto the blockchain using TLSNotary Proof to prove the data has not been tampered with since coming from Random.org. Each dice result provides the TLSNotary Proof which can be verified. All of our source code is open source, transparent and provably fair.
Cool, interesting idea. Hope to see more of it.
Thanks for your interest and questions. If you have any more feel free to ask, always happy to answer any questions.
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