Gambling token profile – Edgeless (EDG)

Details

Product
0% house edge smart contract casino.

Country
Lithuania.

Technology
Ethereum ERC20 token protocol.

ICO dates
28 February 2017 – 21 March 2017

Amount raised
$2.6 million/61,563 ether.

Token distribution
132,046,997 Edgeless tokens (EDG) created.
88% sold to investors.
12% retained by fund-raisers.

Market cap – ICO amount raised per token sold * total number of tokens
$3 million

Market cap – first listed Apr 2017
$3.7 million

Market cap – Feb 2019
$17.6 million

RIO since ICO (not including dividends)
Total: 5766%
Per year: 464%

RIO since first listed (not including dividends)
Total: 23%
Per year: 10%

Links

Token use

Edgeless tokens are an app-coin and the only thing users can bet with on Edgeless Casino.

Edgeless token holders are promised the opportunity to collected 40% of the site’s profits monthly, like a dividend. This does not happen automatically; holders have to enter a “lottery” (there is no luck involved) to receive their dividend.

Project summary

Edgeless have recently released 0% house edge smart contract blackjack, dice, slots and baccarat.

Edgeless was hacked and lost 26,793 ether ($5.6 million at the time), approximately 43% of the ether raised in their ICO. After this hack, Edgeless changed its product from a platform where users bet ether to a platform where users can only bet with Edgeless tokens. This was because they had planned to use the stolen ether as the bankroll.

This makes their product higher friction with a narrower potential audience.

Poker and Sportsbook promised for 2019

In a blog post Edgeless confirmed plans to launch a poker and sports betting product. There are no details of whether these will be smart contract, blockchain based and 0% house edge.

 

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