[ANN] ETHERTOTE: A brand-new Ethereum-based crypto trading DApp platform

[ethertote]

The team are delighted to officially announce the launch of EtherTote,
the worlds largest interlinked, modular, ethereum-based smart-contract trading platform.


EtherTote offers players the opportunity to trade on the top 25
crypto currencies (based on Market cap) using Eth.

Please visit our website to view the live EtherTote DApp (currently running on Kovan).
[IMPORTANT NOTE: Metamask have just released a new version, if you find that the EtherTote DApp cannot detect your wallet address,
please uninstall and re-install the latest version of MetaMask

Our Public token sale starts on November 5th 2018
and lasts for just 14 days.

4.5 Million TOTE tokens are for sale
(from a total supply of 10 Million)

1 TOTE token = 0.001 Eth

Hardcap 4500 Eth

ALL unsold tokens will be AUTOMATICALLY
burned once the token sale ends

Token Name: Ethertote
Token Symbol: TOTE
Decimals: 0
Token Contract Address:
0x740a61ad4fb99af22fb42ca25f548640ae64911d

Because of demand from a number of private investors, we have now begun a private token sale with bonus tokens. Please contact us
privately for further details on the private token sale. This will run up to the start of the public token sale.

In the run-up to our Public token sale, we will also be giving away tokens!
Please join our brand-new telegram group for more details of this exclusive offer:
https://t.me/ethertote

website: https://www.ethertote.com
whitepaper: https://www.ethertote.com/static/files.whitepaper.pdf

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Smart contract addresses of significance:

Token contract address - 0x740a61ad4fb99af22fb42ca25f548640ae64911d
Public TokenSale address - 0x9c36024868364f56521d96e26b00957569a7af01
TokenBurn address - 0xadca18dc9489c5fe5bddf1a8a8c2623b66029198
EthRaised address - 0xf59b989058b7103764739c318ed7b83f3b25ee56
TeamEth address - 0x67ed24A0dB2Ae01C4841Cd8aef1DA519B588E2B2
TeamTokens address - 0x6699361e4fe6edffda6890f255a68dd7d321923f
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The concept of EtherTote is extremely simple

1. A player selects one or more cryptos from the EtherTote DApp (There are currently 25 to choose from)
2. The player then submits an amount of Eth to the smart contract associated with the crypto of their choice
3. The Eth trade, alongside every other trade made across all crypto's is combined to form an overall "Pot" of Eth.
4. A "winning crypto" is declared (wins the Tote), based on the performance of all the cryptos over a one-week period
5. If the player traded on the winning crypto, then they are are entitled to a proportional stake of 95% of the entire "Pot"
6. The remaining 5% of the "Pot" is sent to a "Token Holder Claim" Fund



Allow us to expand on this by way of a more detailed example:

Example:

You decide to select the Litecoin crypto from the EtherTote, and want to trade 0.1 Eth on Litecoin.
You send 0.1 Eth to the EtherTote smart-contract associated with Litecoin, and it just so happens that 99 other players decide
to do the exact same thing as you, and they also trade 0.1 Eth on Litecoin.

If you include yourself, there are now a total of 100 players who have all traded 0.1 Eth on Litecoin. Therefore, you
now own 1/100th or 1% of the Litecoin Crypto Pot, and this particular Litecoin "Pot" now includes 0.1 x 100 players = 10 Eth

Now lets just say that 100 people each trade 0.1 Eth on EVERY crypto on the EtherTote.

This would mean that each crypto "Pot" contains 10 Eth (0.1 x 100 players) and there are 25 crypto pots,
therefore the total combined Ethertote "Pot" is 10 x 25 = 250 Eth

Once the "winning crypto" is declared, all Eth is transferred automatically to a "PotProcessor" smart contract. It is the job of
this smart contract to payout all players who happened to trade on the "winning crypto" as well as transfer Eth to a Token Holder Claim
fund.

95% of the Eth is divided amongst the players who traded on the "winning crypto" - For this example, Litecoin was declared the "winning
crypto"

You traded 0.1 Eth on Litecoin, and you owned 1% of that "Pot", therefore you are now entitled to 1% of the payout.

The simplified calculation is as follows:

Total Eth transferred to PotProcessor = 250 Eth
95% will be distributed to those who traded on the winning crypto - 250 x 0.95 = 237.5 Eth
You owned 1% of the "winning crypto" pot, so therefore are entitled to 1% of the payout - 237.5 * 0.01 = 2.375 Eth

The PotProcessor automatically sends 2.375 Eth to the wallet address from which the original trade of 0.1 Eth on the "winning crypto"
was made. The successful trader has therefore made a profit of 2.275 Eth on the EtherTote.

*please note this is an extremely simplified calculation for illustrative purposes and does not factor in gas fees for payouts or any oracle fees for automating price calls by the smart contracts. Actual returns would be fractionally smaller based on these factors.

DApp screenshot of main table:

DApp screenshot of individual trade page:

We welcome any questions or comments and will endeavour to answer them as quickly as we can, either here directly on the BitcoinTalk forum or alternatively via our brand-new telegram group or our twitter feed.

For more details visit our website at https://www.ethertote.com

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[ethertote]

Please note that if you wish to try the EtherTote DApp you would require Kovan Eth (which is completely free) which can be obtained by making a request on the following "faucet" website:

https://gitter.im/kovan-testnet/faucet

[101nowby]

for what reasons is the team hidden?
will there be a bonus program?

[nicecrypto]

from your explanation here "Once the "winning crypto" is declared, all Eth is transferred automatically to a "PotProcessor" smart contract. It is the job of this smart contract to payout all players who happened to trade on the "winning crypto" as well as transfer Eth to a Token Holder Claim fund" I see that you mention a winning crypto, is it also possible that there could be a "Lossing crypto" 

[ethertote]

for what reasons is the team hidden?
will there be a bonus program?

Hi 101nowby, many thanks for your questions.

The first question is one that we get asked quite a lot, but in essence it boils down to three factors.

1. TOTE Token Classification
2. Ethertote game classification
3. Regulation

If you'd like to read more about our response to this, we actually made a posting specifically discussing this question on our Medium page -
https://medium.com/@ethertote/ethertote-team-anonymity-d7dbc2c783ce


As far as the bonus program is concerned, we don't offer any bonus program. This will be a one-time sale, and we are keen to allow as many people as possible to purchase tokens on a level playing field. We appreciate this goes against what many other groups are doing with ICO and Token sales, but hopefully people will appreciate that we already have a working product (albeit currently in beta running on Kovan). This isn't just an empty promise and speculation about what we hope to do in the future.....the EtherTote it is live and available for all to see right now on our website.

[ethertote]

from your explanation here "Once the "winning crypto" is declared, all Eth is transferred automatically to a "PotProcessor" smart contract. It is the job of this smart contract to payout all players who happened to trade on the "winning crypto" as well as transfer Eth to a Token Holder Claim fund" I see that you mention a winning crypto, is it also possible that there could be a "Lossing crypto" 

Hi nicecrypto, many thanks for your question.

The PotProcessor smart contract is necessary to pool together Eth across all 25 of the "CryptoPot" smart contracts, with each CryptoPot smart contract representing an individual crypto-currency)

I am not sure how familiar you are with Solidity smart contract programming, but there is an upper limit to the level of complexity (in terms of functions, events, variables, etc) that form an individual Ethereum smart contract, subject to gas limitations of the block-chain network (main-net, kovan, ropsten, rinkeby) that the smart-contract runs on. These limitations do in fact limit the number of tasks an individual smart contract can perform.

Each CryptoPot smart contract on the EtherTote needs to be able to track the player's wallet address, the amount actually placed on the crypto, the time the trade was made, the cumulative number of trades made, as well as reference the $USD prices of the crypto, adhere to any validation requirements to making the trade etc. There are also things like tracking TOTE token holders to determine their player eligibility to trade during the "extended trading" period (more details on this can be found in our whitepaper)

Based on these factors, it would be impossible to achieve all of this for all EtherTote players (across all 25 cryptos) in a single smart-contract, hence the need for the PotProcessor contracts.

The upper limit of smart contract complexity is also the main reason that the EtherTote ecosystem is comprised of multiple smart contracts that are all inter-linked and modular. If you refer to page 10 onwards of our whitepaper, you can see a list of the smart contracts that actually make up the EtherTote ecosystem (https://www.ethertote.com/static/files/whitepaper.pdf)

Modularity is especially important to our platform, since any amendments or changes that must be made prior to launching on main-net means that rather than working on a giant program that needs to be redeployed to the block-chain, we simply replace the individual "modular" components of the EtherTote ecosystem (namely individual smart contracts) as and when required.

We plan to write a lot about the EtherTote smart-contract ecosystem in far greater detail over the coming weeks, and we'd invite you to take a look at our medium posts for further details. First and foremost we are fans of Ethereum and smart contracts, and we are extremely keen to help people understand how they work and how they are put together, and really emphasise just how powerful they really are!

With regards to the question of there being a "losing" crypto... this would be the case for all crypto's on the EtherTote if the crypto was not the highest performing crypto over the course of a week. This is why it makes sense for players to apply some level of analysis to making a selection on the EtherTote, rather than just blindly selecting cryptos.

I should state that whilst we are still in beta, the number of crypto's available on the EtherTote could change if there is enough community demand to do so. This is the beauty of the modular nature of EtherTote. We could reduce the number of crypto's on the EtherTote or we could increase it. We could also adjust the length of each game (currently set to one week) if the demand is there. There are many different things we can do, and this is all possible because we spent many months developing the framework of the platform and how it could be adapted if necessary, all whilst maintaining the security and full transparency of all of the individual smart contracts.

We are looking for testers for our DApp, so please feel free to obtain some Kovan Eth and have a go on the EtherTote for yourself 

[ethertote]

If anyone would like to test the EtherTote DApp (currently in beta, running on Kovan) during the "extended" trading period, you will require some test TOTE tokens. Please PM us with your Ethereum wallet address and we will be happy to send you some.

[nicecrypto]

from your explanation here "Once the "winning crypto" is declared, all Eth is transferred automatically to a "PotProcessor" smart contract. It is the job of this smart contract to payout all players who happened to trade on the "winning crypto" as well as transfer Eth to a Token Holder Claim fund" I see that you mention a winning crypto, is it also possible that there could be a "Lossing crypto" 

Hi nicecrypto, many thanks for your question.

The PotProcessor smart contract is necessary to pool together Eth across all 25 of the "CryptoPot" smart contracts, with each CryptoPot smart contract representing an individual crypto-currency)

I am not sure how familiar you are with Solidity smart contract programming, but there is an upper limit to the level of complexity (in terms of functions, events, variables, etc) that form an individual Ethereum smart contract, subject to gas limitations of the block-chain network (main-net, kovan, ropsten, rinkeby) that the smart-contract runs on. These limitations do in fact limit the number of tasks an individual smart contract can perform.

Each CryptoPot smart contract on the EtherTote needs to be able to track the player's wallet address, the amount actually placed on the crypto, the time the trade was made, the cumulative number of trades made, as well as reference the $USD prices of the crypto, adhere to any validation requirements to making the trade etc. There are also things like tracking TOTE token holders to determine their player eligibility to trade during the "extended trading" period (more details on this can be found in our whitepaper)

Based on these factors, it would be impossible to achieve all of this for all EtherTote players (across all 25 cryptos) in a single smart-contract, hence the need for the PotProcessor contracts.

The upper limit of smart contract complexity is also the main reason that the EtherTote ecosystem is comprised of multiple smart contracts that are all inter-linked and modular. If you refer to page 10 onwards of our whitepaper, you can see a list of the smart contracts that actually make up the EtherTote ecosystem (https://www.ethertote.com/static/files/whitepaper.pdf)

Modularity is especially important to our platform, since any amendments or changes that must be made prior to launching on main-net means that rather than working on a giant program that needs to be redeployed to the block-chain, we simply replace the individual "modular" components of the EtherTote ecosystem (namely individual smart contracts) as and when required.

We plan to write a lot about the EtherTote smart-contract ecosystem in far greater detail over the coming weeks, and we'd invite you to take a look at our medium posts for further details. First and foremost we are fans of Ethereum and smart contracts, and we are extremely keen to help people understand how they work and how they are put together, and really emphasise just how powerful they really are!

With regards to the question of there being a "losing" crypto... this would be the case for all crypto's on the EtherTote if the crypto was not the highest performing crypto over the course of a week. This is why it makes sense for players to apply some level of analysis to making a selection on the EtherTote, rather than just blindly selecting cryptos.

I should state that whilst we are still in beta, the number of crypto's available on the EtherTote could change if there is enough community demand to do so. This is the beauty of the modular nature of EtherTote. We could reduce the number of crypto's on the EtherTote or we could increase it. We could also adjust the length of each game (currently set to one week) if the demand is there. There are many different things we can do, and this is all possible because we spent many months developing the framework of the platform and how it could be adapted if necessary, all whilst maintaining the security and full transparency of all of the individual smart contracts.

We are looking for testers for our DApp, so please feel free to obtain some Kovan Eth and have a go on the EtherTote for yourself 

Good, I believe everyone making a crypto  selection on EtherTote should have applied some level of analysis before taking that decision as you rightly state but this doesn't translate to still selecting the "winning crypto" so everyone that selected otherwise will loss their e g 0.1 ETH, am I understanding this correctly? 

[ethertote]

Good, I believe everyone making a crypto  selection on EtherTote should have applied some level of analysis before taking that decision as you rightly state but this doesn't translate to still selecting the "winning crypto" so everyone that selected otherwise will loss their e g 0.1 ETH, am I understanding this correctly? 

That is correct. The "winning crypto" is the crypto which is the best performing crypto of the week. Essentially it is the crypto that has the highest overall $USD percentage gain on the EtherTote.

So an a quick example, let's say you had three cryptos with the following:

START PRICES
Bitcoin - $6,617.11
Ethereum - $370.30
XRP - $0.3498


Over the course of one week the prices become the following:

FINISH PRICES
Bitcoin - $6,817.11
Ethereum - $403.20
XRP - $0.4572


We calculate the overall percentage gain, with the following calculation:


finish price minus start price, divided by start price, multiplied by 100.

Which becomes

OVERALL PERCENTAGE GAIN
Bitcoin - ((6817.11 - 6617.11)/6817.11)) x 100 = 2.934% gain
Ethereum - ((403.20 - 370.30)/403.20)) x 100 = 8.159% gain
XRP - ((0.4572 - 0.3498)/0.3498)) x 100 = 30.703% gain

Therefore in this example, XRP would be declared the "winning crypto" and anyone who had traded on XRP on the EtherTote is entitled to a proportional stake of the entire pot. All other cryptos are considered losers.

I hope that helps

[ethertote]

Most crypto's are taking a real pounding right now, but Tether could prove to be a safe trade on the Ethertote

https://medium.com/@ethertote/considering-tether-on-the-ethertote-f36bb35160a

[adnank1]

Hey there,  how much money I can make playing your game ?

[Tiffanya]

That's why I'm liking this project.  The people behind it seem to have enough power to be able to pull the necessary strings to achieve success                                                      

[ethertote]

Hey there,  how much money I can make playing your game ?

Thanks for your question. It really depends on how much you trade, and how much others trade. As a theoretical maximum, based on the minimum trade (0.05 eth) and the maximum trade of all other players on other crypto's (10 eth x 1000 trades x 24 other crypto's) where the pot could be 240,000.05 eth, then in theory, it's possible to get a return of 95% of this pot (240,000.05 * 0.95) which is just over 228,000 eth for just a 0.05 eth investment.

Like  say, this is a theoretical maximum, and highly unlikely, however we would expect an average return of 25 times initial investment based on an even spread of trades across all crypto's.

[ethertote]

That's why I'm liking this project.  The people behind it seem to have enough power to be able to pull the necessary strings to achieve success                                                      

Thanks for your kind words Tiffanya 

[ethertote]

A simple breakdown of the Ethertote concept:

https://medium.com/@ethertote/explaining-ethertote-to-someone-with-zero-crypto-knowledge-c55cc9b9fb37

[ethertote]

will there be a bonus program?

Hi 101nowby - Because we have been contacted by a number of private investors who wish to discuss purchasing tokens with bonus prior to the public sale, we have now delayed the public sale to allow the private sale to complete.

If you are interested in purchasing tokens as part of the private sale, please contact us.

[mahamuda]

You don't have a soft cap, only hard cap?

[AmoreJaz]

That's why I'm liking this project.  The people behind it seem to have enough power to be able to pull the necessary strings to achieve success                                                      

im fine with anonymous team as long as they can show that they can deliver results. how the dev answers here seems that he knows what he's doing. lets just hope that this token will stay longer in crypto and ill be checking again if there will be content in partners directory next time i visit their site

[ethertote]

You don't have a soft cap, only hard cap?

Hi mahamuda,

many thanks for your question. We are close to finalising an agreement with a private investor for a large number of tokens prior to the public sale. The soft cap will not be necessary for us as the product is still on target to launch on Main-net in Q4. Please visit our website to view the working test-net version of the Ethertote Dapp currently running on Kovan.

[daicabe]

I believe this project will be developed with a very good and successful. because all teams will definitely always did the job in earnest. so that this project can be easily to achieve success.