Topic: [ANN] ETHERTOTE: A brand-new Ethereum-based crypto trading DApp platform (Read 364 times)

Your team's delighted to announce the launch and I'm delighted to see the announcement.
One quick question though – is this really "the world's largest interlinked, modular, Ethereum-based smart-contract trading platform"? Can you back that up?

thanks Tlaxaxa we are making excellent progress 

thanks daicabe 

A very progressive project, I very much hope that the team will not stop on an idea that will promote the project development. Good luck.                                                   

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.

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.

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

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

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.

A simple breakdown of the Ethertote concept:

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

Thanks for your kind words Tiffanya 

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.

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                                                      

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

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

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

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? 

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.

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 

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.