613 reads

Ethino | Funding Roadmap Changes

by EthinoOctober 16th, 2017

Too Long; Didn't Read

After our launching our ICO we have learned some very valuable lessons. We believed our impressive Alpha would be enough to excite investors. Unfortunately we were incorrect and our lack of a community following before proceeding with the ICO is negatively impacting our raised ETH. Also, due to legal reasons we could not reveal the team which hindered our ability to engage and build trust in Ethino the way we wanted to. We would like to thank our current investors for believing in our project based on the hundreds of hours of work we put Ethino including our awesome alpha. Feedback was great, and we plan to make the necessary changes to the Alpha as we inch closer to main net release. We are happy to say zero critical bugs were found so far during testing and a few minor visual issues need to be addressed.

People Mentioned

Companies Mentioned

Coins Mentioned

featured image - Ethino | Funding Roadmap Changes

Ethino ICO ends October 30th 6pm UTC.

Where do we go from here?

We believe in Ethino and have come up with ways in which we can ensure we reach our funding goals. The project scale will be slightly reduced however we should still be able to accomplish everything set out in our white paper, although at a slower pace.

1. Reduce Market Cap

The new Ethino market cap will be $1.5 million USD. Compared to our competitors this is very competitively priced.

*October 16th Valuation based on Coin Marketcap.

( $124,320,000) https://funfair.io/ — The world’s fastest Ethereum casino platform.

( $42,964,195) https://edgeless.io/#!/index — Experience fully transparent and 0% edge gambling online.

($25,427,723) https://etheroll.com/ — Our Ethereum dice game is provably-fair, has a low 1% house edge and no sign-ups or deposits.

( $8,009,679) http://www.vslice.io/ — An Ethereum Gaming Platform Token

($7,619,913) https://dao.casino/ — Blockchain protocol for gambling

https://ethbet.io/ — Ethbet is the first decentralized, peer-to-peer, and provably-fair Ethereum-based dicing game without a house edge.

http://www.etherflip.co/ — A dice game with a twist

2. Airdrop Tokens for a $1 Million valuation of Ethino

How will this work? ***There is a one week period end of ICO for all investors to claim refunds.*** After this one week period all remaining investors will be air dropped Ethino tokens at a $1 Million USD valuation which is a 50% discount from our new total market cap of $1.5 million. (You will receive 50% more tokens) Example: Every investor will be air dropped about 2100 ENO tokens per ETH they invested.

Excel Calculations:

Only ENO holders at the end of our ICO and large private investors after ICO will receive the much lower $1 million USD valuation. Any future capital raised is at at $1.5 million USD valuation for Ethino.

Ethino ENO holders will also have the ability to purchase more ENO tokens for the 1 million USD valuation in the future, before the 1.5 million USD cap is reached.

3. Open up Ethino to large private investing at $1 million USD valuation

We will privately sell ENO tokens to private investors either through https://0xproject.com/portal or Etherdelta. Ethino can also except BTC, BCH and LTC through manual orders. Minimum investment amount is 5k USD. Anything smaller is done at a $1.5 million dollar valuation.

4. Rework Token Incentives

*EDIT: After communicating with our investors and running a survey we have decided to once again go back with a dividend paying model.

5. Reach out to exchanges for listing

We have already been listed on Etherdelta and will be using funds raised to list on other major exchanges. Ethino has also been approached by Radar Relay for listing and will also seek out listing at Liqui, hitbtc, binance, bittrex and more. The reworking of our token incentive should allow us to list at and exchange.

6. Token Wars

Ethino plans to raise funds using the first ever token distribution through our Ethino War game! We call this new token distribution method, Token Wars. After the traditional crowd fund period of Ethino, we will be using Token Wars to raise any remaining amount of ETH up to a market cap of 1.5 million USD. Through our Token Wars smart contract, we allow Ether wagers to be placed to win our ENO tokens. Wins will give players their ETH and free ENO tokens. Any loses will result in a few ENO tokens given out. Either way ENO tokens are given out to the player as this is our ICO model and is strictly considered fundraising. Further details will be announced closer to Token Wars launch date.