Topic: [ANN] ETHERTOTE: A brand-new Ethereum-based crypto trading DApp platform - page 2. (Read 364 times)

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" 

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

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

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.




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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.








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