[ANN] [PRE-ICO] [PRODUCTS ✅] EtherAce Decentralized Asset Speculation Platform - page 14.

EtherAce

newbie

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Quote from: alexgold on June 15, 2018, 02:20:19 PM

Hi dev, why near the link to the bounty thread is written 5 million tokens, and on the distribution graph on the bounty allocated 6.25 million?

Hey alexgold,

There are different parts to Bounties. Such as Pre-ICO and Post-ICO bounties. 80% of our overall bounty allocation, 5,000,000 is dedicated to our Pre-ICO bounty which is focused on spreading the word of our platform and ICO.

The remaining 1,250,000 tokens are reserved for different tasks such as paying out our Telegram moderators and our Bounty Campaign manager.

Hopefully this answered your question! Let me know if you have any more.

Vojdel

newbie

Activity: 126

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How will your token be used? And which platforms are you planning to run your project on? Desktop, mobile etc?

sashadoc

sr. member

Activity: 476

Merit: 250

Citizens of the United States will be able to participate in the token sale???

alexgold

full member

Activity: 350

Merit: 100

Hi dev, why near the link to the bounty thread is written 5 million tokens, and on the distribution graph on the bounty allocated 6.25 million?

EtherAce

newbie

Activity: 98

Merit: 0

Quote from: waiberz on June 14, 2018, 11:20:39 PM

I found that you used ropsten in your etherace project . How ropsten is safe?

Hey waiberz, great question!

Yes we are currently using the Ropsten testnet from Ethereum to test our first speculation contract beta product, Over/Under here: https://ou-contract.etherace.io . Our other product, Flip the gambling dApp, https://flip.etherace.io , is on Kovan testnet, which is a more stable testnet then Ropsten. The reason we went with Ropsten testnet for Over/Under is explained below.

In terms of security, Ropsten is as safe as the Ethereum blockchain is. It is a testnet, which means Ether used is not real, and it is easy to get ETH from different faucets to use to test our product. The Ropsten experience is worse for third-party services we use such as Infura or Oraclize and is more unstable then other testnets such as Kovan or Rinkeby. Because Ropsten is not real value and a testnet, support from these providers architecture is not as highly maintained and uptime is not 100% as it would be on the Mainnet (Main and real Ethereum blockchain with real value). We chose Ropsten testnet over others such as Kovan or Rinkeby because it is much easier for potential investors or people wishing to check out our product to get Ropsten ETH then the other testnets. Kovan/Rinkeby ETH faucets are controlled to make sure there are no spam attacks, however this means getting the ETH is much harder and you get a lot less.

If you're using our dApp you may experience a bug where the source is Infura or Oraclize. We experienced a bug when Oraclize was down (only on Ropsten) on the day of our release. We've also experienced some bugs with Infura once in awhile which cause the dApp to not function properly. While these issues will go away once migrated to Mainnet or a more stable testnet it has also opened the EtherAce Team's eyes that some product workflow is to dependent on third-party services. Fallbacks are being developed now in the case of a third-party failure, the EtherAce dApp can still fully function!

Let us know if you have any other questions !

EtherAce

newbie

Activity: 98

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Quote from: Mr.Jovetic on June 15, 2018, 03:33:48 AM

Quote from: EtherAce on June 14, 2018, 11:55:00 AM

No problem at all Mr.Jovetic ! Thank you, we are glad you like the idea, and yes it is not like a normal gambling platform ! We strive to be a new market instrument that traders and gamblers can use alike rather then just another gambling platform.

If you have any other questions please do ask!

Is that works with any altcoin and Bitcoin?

Yes users can speculate/bet/trade on any token or altcoin or Bitcoin that we support. Our platform is built very modular so it is extremely easy to scale it up to more coins etc. We explained how it is built in this way in our Whitepaper, or if you want more detail on how it is modular please ask!

So for your question, yes users can bet or speculate on any coin and any traditional asset, like gold or oil, this is extremely important for when blockchain becomes mainstream. Crypto derivatives market is $35 Billion which is huge, but traditional derivatives, like gold or oil market is $1.2 Quadrillion, about 35,000x larger. This is why we support traditional assets as well.

If you're asking can users in example have a coin like Litecoin in a wallet, and bet using Litecoin, then no, currently our platform does not support that. Users bet in ETH on our platform. In the future development, we could use the functionality of a project such as Kyber to support this however and let users bet in any coin or token they personally hold on any coin or token (or traditional asset) they wish.

Let me know if this answered your question or if you have anymore ! Thanks for the good questions !

Mr.Jovetic

newbie

Activity: 115

Merit: 0

Quote from: EtherAce on June 14, 2018, 11:55:00 AM

No problem at all Mr.Jovetic ! Thank you, we are glad you like the idea, and yes it is not like a normal gambling platform ! We strive to be a new market instrument that traders and gamblers can use alike rather then just another gambling platform.

If you have any other questions please do ask!

Is that works with any altcoin and Bitcoin?

waiberz

full member

Activity: 479

Merit: 104

I found that you used ropsten in your etherace project . How ropsten is safe?

EtherAce

newbie

Activity: 98

Merit: 0

DEV UPDATE: OVER/UNDER CONTRACT LIVE AGAIN

The EtherAce Beta of the Over/Under Speculation Contract is live again on ROPSTEN testnet at https://ou-contract.etherace.io/ . The smart contract transactions can be viewed on Etherscan here: https://ropsten.etherscan.io/address/0xe8a60d06408148ec9767799d8b41240c3d4666fd

Be sure to check it out. Please report all bugs or questions to the EtherAce Team. We will continually be working and updating this product to fix different bugs that have or may appear !

We will also be releasing an article on our Medium account https://medium.com/@etherace.devs on how to use our Speculation Contract and a YouTube video on our channel https://www.youtube.com/channel/UCwjOAJgYFw2ayKVzBz_ITMg to show a demo of all the functionality. Our smart contracts running on the blockchain will be made public on our Github account https://github.com/etherace soon!

You will need to be on Ropsten testnet to use it and have Ropsten ETH. A good Ropsten faucet is here: https://faucet.metamask.io/ . It is a bit unclear on the site as of now that you need to be on Ropsten, we will be implementing something similar to what we have on our Flip product that redirects you to switch to the Ropsten Network is you are not already on it.

Thanks everyone and enjoy using it!

EtherAce

newbie

Activity: 98

Merit: 0

Quote from: warunaferang on June 14, 2018, 01:15:33 PM

A decentralized assets speculation and betting platform built on Ethereum. We are a trustless market instrument users can profit from. EtherAce has three main features: You can bet on the high odds of winning in games of chance, on your trading and analytic skills in our derivatives market, or on us by holding our ACED token.Similar gambling sites attract millions of dollars in volume per day, however, our main focus is our derivatives market. A similar, centralized derivatives market attracts over 4 billion USD in volume per day.

Hey warunaferang,

Yes that is information on our platform off our website ! Did you have any questions about it?

warunaferang

member

Activity: 245

Merit: 10

A decentralized assets speculation and betting platform built on Ethereum. We are a trustless market instrument users can profit from. EtherAce has three main features: You can bet on the high odds of winning in games of chance, on your trading and analytic skills in our derivatives market, or on us by holding our ACED token.Similar gambling sites attract millions of dollars in volume per day, however, our main focus is our derivatives market. A similar, centralized derivatives market attracts over 4 billion USD in volume per day.

EtherAce

newbie

Activity: 98

Merit: 0

Quote from: EtherAce on June 14, 2018, 02:41:49 AM

ANNOUNCEMENT:

Our speculation dAPP featuring our Over/Under contract has been taken down for now off our website due to Oraclize issues on the Ropsten testnet. The dApp will be redeployed once we can confirm it is working again! Sorry for any inconvenience and we will announce when it is back up!

For transparency here is our smart contract on Etherscan: https://ropsten.etherscan.io/address/0x8466bc490d87b01d7b0d0f9b5682a806e49966d6 , you can see the last callback from Oraclize was executed 2 hours and 9 minutes ago and the next bet placed sent a transaction to Oraclize as it should but never received one back.

You can also view our chat with Oraclize support here: https://gitter.i m/oraclize/ethereum-api , as we work to resolve this issue immediately! Thanks all.

*Edit: The link to the Oraclize support chat was blocked as suspicious so we separated the 'i' and 'm' above. Just copy the full link ending at '-api' and remove the space to view the chat!

DEV UPDATE:

The minor issue Oraclize was having on the Ropsten testnet has been resolved! The Over/Under speculation contract will be available on our website again shortly. Please stand by for an announcement on when it is back up. Special thanks to the Oraclize team for resolving the issue quickly.

This incident has showed the EtherAce team some flaws exist in the contract workflow which we will start fixing now. We will still be deploying the original version of our speculation contract in the mean-time! Thanks all and sorry for any inconvenience caused.

EtherAce

newbie

Activity: 98

Merit: 0

Quote from: JanEmil on June 14, 2018, 04:58:19 AM

Do you have any guess/estimate how much dividend for 1k$ invest pr. year?

Hey JanEmil,

If you sign up for our Whitelist here: https://etherace.io/#sale you will be guaranteed a 100% bonus. With the 100% bonus $1000 USD will get you 19,231 ACED tokens.

We won't make an actual estimate/guess of how much our platform will return, but we can point out the market potential. If you take our decentralized derivatives market alone, a similar but centralized derivatives market that only supports cryptocurrency speculation has daily volume of $3 to $4 billion USD (source: https://coinmarketcap.com/exchanges/bitmex/ ) . Right now we are looking at a fee rate of 0.025 - 0.075 depending if you make or take the market (more on that in our Whitepaper: https://etherace.io/whitepaper/EtherAce_Whitepaper_v1.0.1.pdf ). This amount of volume with cryptocurrency derivatives alone, not including the much larger world derivatives market for traditional assets such as gold as we mentioned before.

It is worth noting we don't expect to reach that volume on our derivatives market until end of Q1 2019. This is because by then the full functioning derivatives market will be available. September 2018 we will only have one speculation contract done with no leveraging functionality or liquidations etc. Also our marketing starts Q1 2019.

Further down the road, the EtherAce team expects to surpass $3-4 Billion USD in volume daily because we are also targeting the traditional derivatives market which is roughly 34285 times bigger then the cryptocurrency derivatives market (Traditional: $1.2 Quadrillion USD, Cryptocurrency: $35 Billion USD). The volume from the traditional assets we support will grow as the blockchain becomes more mainstream and traditional investors participate in decentralized over centralized financial platforms.

These numbers are from our decentralized derivatives market alone, not including gambling sector revenue. However it is worth noting our project focuses more on our derivatives market then our chance game suite.

Hopefully this helped answer your question ! Any more questions please ask.

Thanks!

EtherAce

newbie

Activity: 98

Merit: 0

Quote from: Mr.Jovetic on June 14, 2018, 08:07:43 AM

Quote from: EtherAce on June 13, 2018, 11:53:25 AM

Hey Mr.Jovetic,

Good question ! Those are something called arbitrage platforms. Basically they monitor different exchanges for different markets. Say one exchange is selling BTC at $8,000 USD and another is selling BTC at $7,998. These type of platforms let you buy from the $7,998 platform and sell on the $8,000 USD platform, and you make profit through the price spread.

Our platform is not an arbitrage platform. The part of our platform I believe you are unclear about is our decentralized derivatives market. Our market operates in a similar way that an exchange works. Users can execute actions similar to 'buy' and 'sell' on an exchange. On our platform they are called 'Over' and 'Under' (for our first speculation contract O/U) or 'long' and 'short'.

Users directly trade, speculate and bet on the prices of different underlying assets (like BTC etc.) against each other. An example of how this would work on our first speculation contract and the general concept is:

The price of BTC is at $8,000 USD. Dave believes in 5 minutes the price will be below $8,000. He creates an O/U contract on our platform and sets the price at $8,000, chooses the option to bet 'Under' and sets the price contention period for 5 minutes. Alexa has a contrasting price view or goal to Dave. She believes the price will be above $8,000 USD. So she joins the contract Dave created and chooses to bet on the 'Over' option. Now when the 5 minute contract duration is up our smart contracts retrieve the current price of BTC and either Dave or Alexa will make profit, depending if they chose the correct option.

This is different from an exchange in many ways. The main difference is users do not actually buy or sell the assets our platform supports. They only bet on the price of the underlying assets. This makes our platform lightweight, cheaper, faster, more convenient, secure and scalable. Functionality this supports includes shorting (betting the price will go down), hedging (protecting your portfolio from possible losses, if you hold any coin ex. BTC, believe it is going down in price, and don't wish to sell because you believe in the project or future or because its cheaper to hedge on our platform then sell on an exchange, you can short it on our platform, making profit to cover possible loss from your actual portfolio), longing (betting the price will go up).

We are releasing our O/U contract later today as well as a video on how it works, so you can more easily try it out or watch if this explanation was not clear. If you have further questions on how it works please do ask!

Thank you for clearing the things up, that was a nice thing to read. Now I got the point of your platform, it's sound like a pretty nice idea. At least it's not a ordinary gambling platform.

No problem at all Mr.Jovetic ! Thank you, we are glad you like the idea, and yes it is not like a normal gambling platform ! We strive to be a new market instrument that traders and gamblers can use alike rather then just another gambling platform.

If you have any other questions please do ask!

Mr.Jovetic

newbie

Activity: 115

Merit: 0

Quote from: EtherAce on June 13, 2018, 11:53:25 AM

Hey Mr.Jovetic,

Good question ! Those are something called arbitrage platforms. Basically they monitor different exchanges for different markets. Say one exchange is selling BTC at $8,000 USD and another is selling BTC at $7,998. These type of platforms let you buy from the $7,998 platform and sell on the $8,000 USD platform, and you make profit through the price spread.

Our platform is not an arbitrage platform. The part of our platform I believe you are unclear about is our decentralized derivatives market. Our market operates in a similar way that an exchange works. Users can execute actions similar to 'buy' and 'sell' on an exchange. On our platform they are called 'Over' and 'Under' (for our first speculation contract O/U) or 'long' and 'short'.

Users directly trade, speculate and bet on the prices of different underlying assets (like BTC etc.) against each other. An example of how this would work on our first speculation contract and the general concept is:

The price of BTC is at $8,000 USD. Dave believes in 5 minutes the price will be below $8,000. He creates an O/U contract on our platform and sets the price at $8,000, chooses the option to bet 'Under' and sets the price contention period for 5 minutes. Alexa has a contrasting price view or goal to Dave. She believes the price will be above $8,000 USD. So she joins the contract Dave created and chooses to bet on the 'Over' option. Now when the 5 minute contract duration is up our smart contracts retrieve the current price of BTC and either Dave or Alexa will make profit, depending if they chose the correct option.

This is different from an exchange in many ways. The main difference is users do not actually buy or sell the assets our platform supports. They only bet on the price of the underlying assets. This makes our platform lightweight, cheaper, faster, more convenient, secure and scalable. Functionality this supports includes shorting (betting the price will go down), hedging (protecting your portfolio from possible losses, if you hold any coin ex. BTC, believe it is going down in price, and don't wish to sell because you believe in the project or future or because its cheaper to hedge on our platform then sell on an exchange, you can short it on our platform, making profit to cover possible loss from your actual portfolio), longing (betting the price will go up).

We are releasing our O/U contract later today as well as a video on how it works, so you can more easily try it out or watch if this explanation was not clear. If you have further questions on how it works please do ask!

Thank you for clearing the things up, that was a nice thing to read. Now I got the point of your platform, it's sound like a pretty nice idea. At least it's not a ordinary gambling platform.

JanEmil

hero member

Activity: 2422

Merit: 668

Community management 24/7 for hire

Do you have any guess/estimate how much dividend for 1k$ invest pr. year?

EtherAce

newbie

Activity: 98

Merit: 0

Quote from: jametoti on June 14, 2018, 04:02:43 AM

Quote from: Kisleav on June 14, 2018, 03:14:25 AM

I like projects that issue dividends, this is surely up for me, but when will these dividends be paid out, weekly or monthly or every end of a financial yeah.

I think this will be on the dividend paid each month and we can accept it after the projects are completed, I like the concept of this kind of

Hey jametoti,

Happy to hear you like the structure concept of our project !

You are correct, once we release our first products onto main-net (September 2018) dividends through our ACED tokens will be activated.
We explained in a reply to Kisleav that dividends will start by being paid quarterly then monthly as the dividends pool rises.

There will be a dividend claiming period at the end of each period, first quarterly (every 3 months) then monthly, and then possibly an even shorter time frame. During the dividend claiming period holders of our ACED token will be able to accept the dividends generated by the EtherAce Platform from our dividends smart contract !

If you have any questions on the project don't hesitate to ask !

jametoti

member

Activity: 238

Merit: 10

Quote from: Kisleav on June 14, 2018, 03:14:25 AM

I like projects that issue dividends, this is surely up for me, but when will these dividends be paid out, weekly or monthly or every end of a financial yeah.

I think this will be on the dividend paid each month and we can accept it after the projects are completed, I like the concept of this kind of

EtherAce

newbie

Activity: 98

Merit: 0

Quote from: Kisleav on June 14, 2018, 03:14:25 AM

I like projects that issue dividends, this is surely up for me, but when will these dividends be paid out, weekly or monthly or every end of a financial yeah.

Hey Kisleav, good question !

Glad to hear your interest. Our dividends will initially be paid out at the end of each quarter. This means they would be paid out four times a year. The dividends are carried out by our smart contract so the process is autonomous.

As noted above, they will be paid out quarterly initially, while we only have our Over/Under speculation contract and Flip, the gambling chance game out on main-net. In Q1 2019 when our decentralized derivatives market will be complete and deployed onto main-net (as well as a peer-to-peer chance game) and marketing is started, we expect the volume on our platform to soar. Once the dividends pool is high enough (it grows linearly with volume) we are looking to issue dividends monthly. If/when the dividends pool reaches a high enough level that the issuance period of dividends can be further increased a community token holder vote will be held to choose at what increment dividends are to be paid out at.

Hope this answered your question ! If you have any other questions please ask!

Kisleav

hero member

Activity: 1092

Merit: 500

I like projects that issue dividends, this is surely up for me, but when will these dividends be paid out, weekly or monthly or every end of a financial yeah.

Topic: [ANN] [PRE-ICO] [PRODUCTS ✅] EtherAce Decentralized Asset Speculation Platform - page 14. (Read 1848 times)