DAO.Casino - Token market is doomedWhy DAO.Casino token will survive market collapse
last few months the crypto-currency ecosystem is boiling. Market is
congested with cardboard startups, that provide exchanges with empty and
useless tokens. In combination with regulators actions and big players
manipulations it leads to extreme instability.
could be dozens of reasons why the crypto-startup is unreliable. No WP
or code examples, absurd ideas or just a way to collect money for some
non-blockchain field. But in this article, we wanted to focus your
attention on such thing as the lack of token functionality.
systems are meant to be powerful autonomous and sustainable economies,
where tokens are purely functional. For example GNT is a token that’s
designed to power a p2p market for computing power. But since we’re
living through a Cambrian explosion, the majority of the tokens that are
getting issued at the moment has no functionality at all.
situation threatens primarily inexperienced investors. Professional
players are able to quickly make money on the exchange rate
rollercoaster, but the most of the crowd can lose by supporting trashy
projects with shiny marketing wrapping.
a darker side of that regulators would be willing to throw the baby out
with the bathwater and just make it more difficult for projects to
launch new legitimate functional tokens or to enter token sales. To make
sure that tokens will be recognised as a new asset class every project
launching tokens now should care about their token functionality.
most regulators have not yet come to grips with the reality that tokens
are bound to be recognized as a new asset class with its own set of
updated regulation. Instead, many regulators are quick to apply existing
compliance practices that treat tokens as a security, therefore
elevating the barriers and costs of implementation for entrepreneurs.”
William Mougayar, Venture investor & Advisor
or later crypto-bubble can blow up the whole market, just like it
happened with dotcoms in the middle of 90-s. Among the surviving dotcoms
were the company, without which it is impossible to imagine the modern
Internet — eBay and Amazon. The functionality of their services allowed
them to withstand the storm. Same now — only functional tokens have a
chance to survive possible collapse.
A VC and a market researcher Nick Tomaino wrote a good blogpost on token value we recommend this especially to those new to the crypto space.
key objective of a DAO is value creation or production, and to make
that happen, there needs to be a specific linkage between user actions
and the resulting effects of those actions on the overall value to the
William Mougayar, Venture investor & Advisor
like quoting him, because he did a lot of homework on token economy.
William was also running a panel at Ethereum conference in Paris when we
first presented our project and while our token model was still being finalised.
As we announced it
before token sale started, DAO.Casino’s goal is to create an ecosystem
for all parties of gambling industry. BET (DAO.Casino token) would power
this system, regulate relations between parties and act like an in-game
currency for the games that use the protocol. A lot of people who
backed our project backed it because the business model of the
infrastructure that we’re building made sense to them.
the coming months, we will devote much time and effort to research,
development and building strong partnerships with potential customers.
This includes testing the functionality hypotheses of our token, working
on simplicity of integrating our protocol into the projects of our
partners, who don’t have the whole inhouse blockchain department and much more.
will always focus on technology, because we do not want DAO.Casino to
be a one-day project. Our goal is a large-scale and long-term growth for
years to come. We seriously want to create a new market and we will be
happy to have you in allies. If you have an idea or an offer — send us a
word right now!
The strict rules and bureaucracy of directly creating (and buying) a financial product can hinder the process. COLLABORATIVE MARKETS ruled by a TRUSTLESS MULTIPLEXER are an ALTERNATIVE MODEL that can be applied to smaller projects, allowing the little developer to meet the power of the crowd with low commitment to bureaucratic processes. If you have the right to sell a product on eBay, so you have the right to operate ARK market, and offer the related services, according to your local law.
ARE THERE ANY OTHER WAYS TO MAKE MONEY WITH ARK?
ARK contains 6 different services:
LIST NEW COIN
ADD HOME ADVERTISING
WHO DECIDES THE COSTS OF THE SERVICES?
The community members. Those who own the BOTs and share the income offering ARK services to the public. The prices can be adjusted to the market value via an experimental democratic voting interface.
HOW MANY BOTS ARE INSIDE ARK?
The total amount will be decided at the moment of launch. After the initial sale, the number of BOTS cannot be changed.
CAN I TRADE MY BOTS?
Technically, yes. But ARK starts with a very high fee (RESELL BOT). ARK is meant for long term investors. If in the future the community decides (via inner voting system) to lower the cost of RESELL-BOT service, they will be easily tradable.
IF THERE IS A CYCLE SO THE FIRST BOT HAVE AN ADVANTAGE?
If you are a short term investor, then you will be interested in buying some of the first BOTS of the cycle. If you are a medium/long term investor then you don't mind. In fact, a bot will cost around 1 ETH, and listing a coin will cost around 1 ETH, so if you buy the first BOT of the list and a first customer comes you already got back your money.
WHY ARK IS A SPECIAL EXPERIMENT?
Because it is a basic test on the capabilities of Ethereum, where we can really have an idea of the gas costs of a complete billing system.
OK BUT...WHY ARK?
The community needs a Coin DB. A clean list of coins, not some messy forums. The age of proprietary databases is over. We have now an open one, fully interconnectable. Managed by the community, forever. Any one can connect his own application. If you build an application with proprietary database, no one will use it. IF you connect to a central resources system so it is completely different. I pay you but those informations will be accessible forever, whatever is going to happen. Your company may fail, your application may vanish, but the links are all there, in the central database. This is the end of the dissipative world we are used to.
HOW CAN THE COMMUNITY BE PROTECTED BY SPAM?
ARK contains a simple and experimental democratic BLACKFLAG managment system. Plus, in extreme, a brutal censorship function managed by the operators (BOTs owners).
SO DO I BUY A "FUTURE PROJECT"?
No, as soon as you buy, the game starts. This is not an [ICO], you buy a ready instance of a web-service. [SSS] stands for Start Software Sale. It is a completely new model. Get used to it, tons of collaborative markets to come... any web service can be transformed into a collaborative market, granting accessibility to informations, and wide spread of resources.
WHY NOT AN ICO?
We don't build coins. We build Markets. We don't look for money for future projects: we build the technology => we sell it. You know in advance what you invest for. Period.
CAN I MINE A BOT?
Of course! Ethereum miners are rewarded. If you find a block and a transaction happens inside ARK, so your wallet gets a CLAIMABLE BOT. Claimable BOT's are property of ARK operators, they are given for free, you pay only the administrative fee (around 0.1 ETH instead of full price 1ETH). Money are earnt by the CURRENT SELLER, depending on the step of the TRUSTLESS MULTIPLEXER. There will be only a limited amount of Claimable BOTs. (10% of total BOTs) If you don't claim a bot the next miner will claim it in your place. You can still claim yours later, assuming there are still any available.
WHAT ARE THE REAL FEATURES?
Coin listing Modifying existing Coins Tagging coins Search by tag Blackflagging system with approvation by members Blackflag based filter system Voting system for extreme censorship Voting system for services prices Collaborative market cycling 6 different services BOT buy/sell system Companies managment Complete billing system with: Search bill by BOT search bill by buyer wallet Search bill by seller wallet Search company by wallet List companies Mantain old companies informations for bills registered before the company changed name Bounty system Mining Bounty system Advertising system (under coins) Home advertising system (in home page with different costs and different multiplexer cycle) Stats for everything Basically extensible in its semantics (the future may be seriously different!) Muting system for emergency (works only during startsale!) Very Simple (neanderthal style) document system Search low cost BOTS (client side! it would be too expensive for a smart contract)
ARE THERE ANY OTHER COLLABORATIVE MARKET?
We have a dream. We are working for it, stay tuned.
We built an open database for coins on ethereum We transformed it into a new kind of DAO so the community can own it This is not an [ICO] this is a [SSS] please read better the text if you want to know more ARK smart contract will work EXACTLY LIKE AN ESCROW SERVICE during the start sale, no tricks: wait for the launch, check the smart contract, and see for yourself!
A copy of ARK will be temporary available on ethereum TestNet starting 24h BEFORE the launch on MainNet. All Bounty hunters will have access to test-ARK in order to audit the contract and start playing with it. After 24h we will launch and they (and the possible incoming buyers) will become the owners (and operators) of the MainNet ARK Platform.
Don't buy MORE than 50 BOTs. The success of a Collaborative Market comes from the big number of owners. If you are a whale so you prefer to buy few BOTs in 10000 different collaborative markets rather than buying 10000 BOTs in the same one. IF you buy all ARK at once (some people has the money to do it) you will be the only operator. 1000 operators talking about their service are better than 1 operator talking. Union makes force. This is the meaning of Collaborative Markets. Please buy a moderate number of BOTs!
In HONG, as an investor you would be able to withdraw all your investment before HONG runs into fiscal year 1. Here we give a tutorial as to how to do it with very simple steps.
Watch HONG contract in Ethereum Wallet or Mist (you will need to have the Ether account that you used to participate in HONG ICO in the Ethereum Wallet or Mist). If you have already done this before, please skip to step 2.
In the pop up window, enter the password for your account
and select “SEND TRANSACTION”. After the transaction is confirmed by Ethereum
blockchain, your investment will be returned to your account.