Happy to see more gambling dapps coming upon Ethereum and trying to make a name for themselves and above all to capture a good portion of the Billion dollars worth Gambling Industry. I shall follow and will invest during ICO. I have already made some investments in other Gambling Dapps and they paid out well.
It would be great if the teams shows why they are unique compared to other Gambling Dapps on ETH.
Thanks for expressing interest!
We are the first mobile gambling platform powered by Ethereum! Our goal is to become the next SatoshiDICE equivalent of gambling on mobile devices! Currently there is no competition in that segment and we believe that our mobile app release will grant us a monopoly in that segment for months before the competition can even respond. By the time they do, we will be a year ahead of the competition and hold the majority of the market share. We also plan on releasing other game types such as blackjack, roulettes, and poker on our mobile phones as well, all running ethereum smart contracts to give our users a smooth reliable experience without risk of being hacked and compromises in security!
Just finished reading the whitepaper. Overall, iDice is a Project with good prospects. However I do have questions which needs to be answered so I can be clarified.
1. iDice has a maximum supply of 5m iDice tokens, No iDice tokens reserved to the founding team?
2. What will happen in case not all iDice tokens are sold. Unsold tokens will be burned?
3. It's mentioned in the Whitepaper that Token holders gets 100% of the profits from iDice Gambling platform. If this is the case, How will iDice make revenue If they distribute all profits to investors. I'd like to know!
4. The way the funds raised during the crowdsale will be used raised some personal concerns from me. If $5m is raised during the ICO, $1m will be used to build the iDice Gambling app. Isn't that too much? Even $50,000 can fund the development of the app.
5. How does iDice compare to ETHRoll, Edgeless & Vdice? They're all powered by the same Ethereum Network. So I'd like to know what makes iDice standout from the rest.
I await a prompt response on these questions.
Thanks for expressing interest! You have great questions and we'd be happy to address them!
1. 10% of all tokens or 500,000 tokens will be allocated to the iDice development team.
2. Unsold tokens will be burned.
...
Hi there
I do have a couple of questions:
1. According to your white paper, you are distributing the tokens in three different ratios depending on what time the participant sent its Ether. Above the question was asked: "What will happen with unsold tokens?" and your answer was "Unsold tokens will be burned".
But - it's
impossible to have unsold tokens the way you framed your ICO. Every token will be distributed according to the ratio. Can you please explain?
2. For clarification. What is the exact amount of tokens that will be distributed to the ICO participants?
Is it 4'500'000 due to the allocation of the development team or is it 5'000'000 with a total amount of 5'500'000 in circulation?
3. If I read the white paper correctly, you are raising an indefinite amount of money. You could end up with very few Ether up to millions of dollars worth of Ether (e.g. competitor vDice raised 1.8$ Million worth of Ether).
Could you elaborate on how much money your planning to spend on the different phases?
Thanks and best wishes
Thanks for expressing interest! These are some great questions and I'd love to clear things up for you!
1. If there is no ETH contribution to convert to iDice tokens, those tokens will remain unsold. Everything will be handled automatically by the smart contract; there is a specific burn function on the smart contract that automatically burns tokens that have not received an ETH contribution. The smart contract also automatically handles the conversion rates of the tokens to ETH. There is no human involvement in the token conversion process, it is all done by code.
2. There is a limited supply of 5 million tokens. 500,000 of them will be allocated to development team, thus 4,500,000 will be distributed to the ICO participants.
3. We really wish we could raise an indefinite amount of money!
Unfortunately, we have a limited supply of 5 million tokens, so raising an indefinite amount of money is impossible. Even at the lowest conversion ratio, the maximum amount of money we can raise is 5million/130=38,461.5 ETH. You can find our how we plan to spend our money on our Use of Funds section on our whitepaper (
https://crowdsale.idice.io/idice-whitepaper.pdf) This projection is based on our estimate of raising 1,000,000 USD.
35% of all Ether raised during the crowdfund will become the house bankroll to pay winning bets. Token Holders as a collective receive 100% of iDice game profits.
30% of all Ether raised will be used by iDice development team to fund further development of the iDice Platform, as well as to fund the development and implementation of other game types on the iDice platform.
20% of all Ether raised will be used in the development and launch of the world’s first mobile blockchain gambling app, which will be available for both Android and IOS Devices.
15% of all Ether raised will be used for promotion and marketing purposes.
Unfortunately, since we cannot predict how much money we will be able to raise in this ICO, we are unable to provide specifics in our whitepaper. If more significantly more money was raised than our estimate, then we will allocate a higher % of funds towards our bankroll so that players will be able to make bigger bets, and increase the budget our promotion and advertising campaign.
I hope I've cleared everything up for you! If you have more questions, I'd be more than happy to answer them! Thanks!
