Edgeless is a decentralized casino application that runs on the Ethereum blockchain. Its main feature is that it offers a fully transparent online casino with a 0% house edge. This means that users will be able use a completely transparent gambling platform. All transactions on the dapp will be visible to the general public and anyone will be able to verify that the code running the application is fair.
Edgeless has an initial coin offering (ICO) starting on February 28th, 2017. These tokens represent a form of equity for this Casino, as described below.
The Edgeless team are currently developing 4 Games for their dapp:
- Black Jack
- Micro limits dice
- Sports Betting
The Edgeless website outlines 9 main advantages that they have against their competitors.
- The house doesn’t have an edge
- You don’t have to login or register an account to use the dapp.
- free money withdrawals and deposits
- instant deposits and withdrawals
- You never give any personal information to use the app so you are completely anonymous
- ransom number fairness check
- fully transparent random number fairness check
- The Ethereum smart contracts allow for complete transparency
- It is impossible for internal casino profits draining since all transactions are visible.
HOW IT WORKS
If you invested $1163 CAD, you would be able to buy around 100,000 EDG tokens at the current Ethereum price (February 18, 2017). At the end of the Crowdsale, these tokens are then distributed to all of the investors into your own personally Ethereum wallet. You can do 3 things with these tokens, either trade them on a cryptocurrency exchange (for any other cryptocurrency or fiat), keep them in your Ethereum wallet, or you can send them to the “Edgeless Lounge Prize Pool” that occurs once a month. This prize pool contains 40% of the Casino’s profits for that month, the remaining 60% operates the cash flow for the Casino. If you sent all of your EDG tokens (100,000) to the prize pool, you will receive some of the Casinos profits for that month. For example, if Edgeless becomes popular and makes $10 000 000 that month, $4 000 000 goes to the Edgeless Lounge Prize Pool. Since there is a maximum of 500 000 000 EDG tokens, you’ll receive 0.0002% of the $4,000,000 equalling to about $800, if all tokens participated in the prize pool. You may in-fact make even more than this since the token can be traded for any other cryptocurrency on a cryptocurrency exchange. People will be trading these currencies/shares and speculating on the casinos success which can significantly lower the number of coin entered into the prize pool.
Ignas Mangevicius, Co-Founder
Co-Founder, CTO of go savy.com
Co-Founder, Timber Cabins
Tomas Lukosaitis, Co-Founder
CEO, Get App Development
Marketing Manager, SAVY.It
Co-Founder, HEM Promotional Clothing
CEO, Pressera- Custom Design Apparel Drop Ship Service
Chief Operating Officer (COO), Dalinusi.It
Sales Manager, Dalinusi.It
Tomas Draksas, Co-Founder
Founder/Conversion Expert, Convi Design
Converting Website Design and Development, Freelancer
Marketing Manager, AIESEC
HOW TO INVEST
This project only accepts Ethereum as a payment option. If you don’t have Ethereum or any other cryptocurrency, you’ll first have to buy bitcoin. I personally use the Quadriga Bitcoin/Ethereum exchange. Do not send ETH from the exchange to the Edgeless website! You must first send your Ethereum to your own personal Ethereum wallet. Some examples of Ethereum wallets include MyEtherWallet, Jaxx, Mist, Parity, Ether-Wallet, Ledger Nano S or Geth (You must have access to your private key to use EDG tokens). From here you’ll have to make a profile on the Edgeless website (You usually only need an email address and a password). Your profile will create an Ethereum wallet automatically; this wallet is where you send your Ethereum tokens.
UPCOMING ICOS (Articles Coming Soon)
Did I make a mistake? Want to suggest a correction? Feel free to email me at firstname.lastname@example.org
Disclaimer: US citizens are not legally allowed to participate in Edgeless Project crowdsale