Gambling token profile – Etheroll (DICE)

Contents

    Details

    Product
    Dice game built on ethereum smart contracts.

    Country
    Unknown.

    Technology
    Ethereum ERC20 token protocol.

    ICO dates
    13 February 2017 – 27 February 2017

    Amount raised
    $363,497/23,680 ether.

    Token distribution
    7 million DICE tokens created.
    64% sold to investors.
    36% retained by fund-raisers.

    Market cap – ICO amount raised per token sold * total number of tokens
    $569,000

    Market cap – first listed May 2017
    $8.2 million

    Market cap – Feb 2019
    $2 million

    RIO since ICO (not including dividends)
    Total: 1341%
    Per year: 202%

    RIO since first listed (not including dividends)
    Total: -75%
    Per year: -56%

    Links

    Token use

    DICE tokens afford rights to a percentage of profit from the dice game distributed every 12 weeks, like a dividend. This is not an automatic process; the dividends are not pushed to DICE token holders, they must be pulled by DICE token holders.

    DICE token holders are also promised voting rights for new features. DICE tokens are not used for betting or anything on the app.

    Project summary

    Etheroll’s dice game has a 1% house edge and no sign up or deposit is necessary because all bets and payouts are transactions on the ethereum blockchain, executed by a smart contract.

    Periods of high congestion and high fees on the ethereum network directly affect Etheroll’s usability. Every bet being on chain is probably why Etheroll has a high min bet of 0.2 ether ($24 as of Feb 2019).

    The wholly grail of ICOs, real world usage

    Etheroll is one of the most used dApps in the entire ethereum ecosystem, both in terms of volume of ether and number of transactions.

    Interesting that the ICO which has become one of the most used has such a simple idea and product. Meanwhile ICOs with high faulted futuristic “disputing” ideas remain mostly useless.

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