DAO.Casino Announces Terms of its Token Sale to be held June 29
https://medium.com/@dao.casino/dao-casino-announces-terms-of-its-token-sale-to-be-held-june-29-5125375f4aebOn June 29th, 2017 DAO.Casino starting a token sale campaign to support further development of decentralised protocol for the gambling industry.
Even though, currently the protocol is available as an MVP, our hope is that, when deployed in its full capacity, it will be able to disrupt the entire online gambling industry, and bring about fairness, transparency and mutual profitability powered by blockchain technology.
Summary
Start: June 29th, 2017 at 1:00 pm GMT
Ending: in 28 days or when the Maximum cap is reached
Only ETH accepted
No minimum cap
Maximum cap: $25,000,000 in Ether
Token name: BET
Price staging on Token Sale
Day 1: 2,000 BET = 1 Ether
Days 2–14: 1,800 BET = 1 Ether
Days 15–17: 1,700 BET = 1 Ether
Days 18–20: 1,600 BET = 1 Ether
Days 21–23: 1,500 BET = 1 Ether
Days 24–26: 1,400 BET = 1 Ether
Days 27–28: 1,300 BET = 1 Ether
Token distribution
70% — Token Sale Participants
10% — Early Adopters & Founders
10% — Bounty
10% — Legal Entity
Intended use of revenue
60% — Research & Development
20% — Operation
15% — Marketing
5% — Legal
About the Token Sale
While preparing for the extended token sale, we have suddenly faced a somewhat pleasant, but still challenging issue.
The thing is that the demand for our tokens has dramatically exceeded the initially intended supply. In just a few days after announcing the pre-sale we’ve received orders for nearly maximum that we planned as acceptable to distribute on this stage.
This makes us confident about our project’s future, and we would like to express our deep gratitude to everyone who wants to become a part of it. We value the entire community of our supporters, and it is crucial for us to make the token available to everyone who wishes to take part.
Thus, we decided to set the token sale’s maximum cap at $25 million worth of Ether. We consider this amount sufficient to meet the demand we’re currently dealing with and to present a chance for everyone to become a part of our project.
Hopefully, the revised token sale format won’t make much of a trade-off, and will fit the desires and expectations of everyone in the DAO.Casino community.
Terms of the Token Sale
Other terms of the crowdsale campaign will remain unchanged. The protocol’s internal tokens are known as BETs, and are ERC20 tokens acting as in-game currency for all contracts integrated with the protocol.
You will be able to buy 2,000 BET tokens with 1 ETH on the first day of the campaign, and 1,800 BET tokens for the next two weeks. Then the amount of BETs available for 1 ETH will be decreasing by 100 every three days.
The campaign will start as planned, at 1:00 pm GMT on June 29th, 2017. It will completely end in 28 days or when the Maximum cap is reached.
We would like to note that founders and early adopters will have vesting. We deem this measure necessary to ensure the work on the project progresses after the token sale. The parties mentioned above will have 2 years of vesting with 6 months cliff, therefore, the BET tokens will mature by 25% every six months.
As a preparation for the token sale, the contract is currently being audited to guarantee complete security and safety.
How to Participate
Please note that contributions will be accepted only in Ether. No other cryptocurrency or fiat contributions are available. Those willing to contribute to the development of our protocol may use any Ethereum client they like (we recommend Metamask, Parity, Mist, or MyEtherWallet).
The destination address will become public on the day of the token sale’s start only on the official website. From that address smart contract will transfer your BET tokens to your wallet. For that reason, of course, you should keep your private keys safe and sound.
You are also encouraged to check if the address is correct by checking it on Ethereum block explorers such as Etherscan during the campaign.
Prohibited Actions
DO NOT send ETH from any online exchange services (Kraken, Coinbase, Poloniex, etc)
We also recommend that you have your ETH private keys encrypted. This, however, will require you to have your password when you need to decrypt them, so keep that password in a safe place.
NO THIRD PARTY would be distributing BET tokens on behalf of DAO.Casino
So if you received an email from a third party or offered BET tokens otherwise, please, beware of phishing.
DO NOT send Ether to any third party addresses
To receive BET tokens do not send any Ether to addresses other than DAO.Casino crowdfunding contract address that will be provided on the official website.
Briefly about the Protocol
DAO.Casino protocol automates value chain of the gambling industry. It will enable independent game developers to get automatically rewarded for their job when casinos take their games onboard. Unlike the current situation, the developer will retain copyright for their game.
The protocol of DAO.Casino also introduces the roles of a bankroll backer and randomness provider. Therefore, game developers won’t have to depend on casino operators, and finding a bankroll backer would be enough for them to roll out a successful product.
Casino operators, on their part, will be able to guarantee that all games held at their virtual premises are provably fair.
This will benefit all parties involved in online gambling business processes. All the contributors — developers, bankroll backers, referrers, and casino operators acting as referrers will be automatically rewarded for their contributions without a need to trust each other, i.e. bankroll backers and referrals won’t have to trust game providers in order to cooperate.
Further details as to the protocol’s capabilities are described in our whitepaper.
As we’ve already released the MVP for the protocol, which features minimal functionality and several demo games like beta blackjack, dice, and an indie game we called “Hack a DAO”, the product will be available in case of any outcome of the token sale.
Essential Links
Website:
https://dao.casinoPrototype:
https://platform.dao.casinoGitHub:
https://github.com/daocasinoEmail:
team@dao.casinoWhite Paper:
https://github.com/DaoCasino/Whitepaper/blob/master/DAO.Casino%20WP.mdSlack Invite:
https://dao.casino/slack-invite.htmlFacebook:
https://www.facebook.com/Dao.casino/Twitter:
https://twitter.com/daocasinoBlog:
https://medium.com/@dao.casino/YouTube:
https://www.youtube.com/channel/UCkggi9VnPJ0qUzfj7h70-pQ
