ETHINO (ENO) - The first and only ERC20 Ethereum Casino
Ethino is a casino Dapp operating entirely on the Ethereum network. We will be the first and only Ethereum casino to offer ERC20 wagers as well as ERC20 payouts! Our first casino game is the very popular card game, War. Players will face off against the house where each wager and payout is completely processed through our provably fair and transparent Ethereum contract. There will be absolutely no deposits required as well as no delay in payouts. Traditional online casinos as well as physical casinos are unable to match the security, anonymity, and fairness we provide. Our goal is to achieve a premier gambling experience for our customers and a steady stream of profit for our token holders.
How to Play
Our War card game is played with six standard 52 card decks. The cards are ranked just like poker with aces being the highest followed by the king, queen, jack, 10 and so on.
1. The player wagers any amount they choose but can only win up to our max win. The player may also place a side wager which pays 10 to 1 in the event of a tie on the first cards dealt to the player and house. This is an optional wager which also falls under the houses max win rule.
2. One card is then dealt to the dealer and one card dealt to the player.
3. The player's card is compared against the dealers and the highest card wins. If the player wins they receive an equal amount as their wager. If the player loses the house takes their wager. The hand is now over.
4. In the event of a tie, the player can either surrender and lose half their wager, or the player can go to war and must double their initial wager. When going to war, the player.s initial wager is taken by the house, followed by another card dealt both to the dealer and player. The higher card once again wins. If the player wins, they will only receive an amount equal to their tie wager. If the player loses, the house takes their tie wager. In the event a second tie occurs, the player will win 3 to 1 on the amount of their tie wager only. The hand is now over.
This amount is the maximum amount a player can win for any one hand. This is in place to reduce risk of large lucky wagers taking all of the house money as well as to diminish use of martingale strategy. 3
to reduce chance of martingale betting system house losses
The player can wager on the outcome of a tie between the dealer and the player's first hand. This will pay 10 to 1 (ex: player wagers 1 eth for the tie wager, dealer draws a 7 of hearts and the player draws a 7 of clubs, player receives 10 eth and continues the game) This wagers size can be between 0% - 80% of the main bet amount.
Expected value for our war game (excluding tie wager) comes out to 1.2358% house profit based on the 6 decks super liberal rules
Expected value for tie wagers is 18.6495% house profit
Tie wager with payout 10 to 1
Transparency: Ethereum smart contracts contain the code running our casino, allowing unprecedented openness into exactly how Ethino functions.
True RNG (Random Number Generator): Initially, our RNG numbers will be provided through the proven and secure api Oraclize, which will reach out to wolfram for our seed. Through Oraclize and ledger proof, Ethino is able for the first time ever to provide a truly random seed which cannot be manipulated by us, Oraclize, or anyone! Everyone is able to see our Ethino smart contract request an RNG ledger proof seed from Oraclize in order to determine each card's value in our War card game.
Safety of Funds: Due to the open nature of the Ethereum smart contracts, our bankroll is secure and each customer wager is safe. No black boxes on where funds are stored or how wagers are processed.
Ethereum is currently sitting at an approximate market cap of $36 billion USD as of June 2017, and transactions on the network are sitting at almost 300k tx per day (figure 3 below), which is equal to Bitcoins 300k tx per day. We fully expect gambling to quickly pick up pace in the Ethereum market, and at minimum, match Bitcoins estimated 2017 wagers of $2,102,400,000 USD.
In order to determine how to gain a competitive advantage, we have analyzed multiple existing and upcoming Ethereum casino sites. Based on this analysis, Ethino will stand out from the competition as we are committed to:
1. ERC20 Wagers and Payouts: Ethino will be the first and only Ethereum casino to offer ERC20 wagers and payouts. This will open up our target market by billions of dollars. It is the major difference between our competitors and us, giving Ethino a clear competitive advantage. It is even possible to wager as well as win ENO tokens!
2. Security: Every major change will be audited by a trusted third party in order to ensure the bankroll and player funds are fully secured.
3. Provably Fair/Random: Initially, our RNG numbers will be provided through the proven and secure api Oraclize, which will reach out to wolfram for our seed. Later, we plan to introduce the latest and most secure RNG seed generator available named „Ledger Proof‟ which is exclusively provided by Oraclize. This seed will be provably random. Due to the construction of our smart contract, we will be able to update the RNG seed if a more secure and random RNG seed becomes available. We are thoroughly testing ledger proof and ensuring if its promises of truly random and tamperproof seeds hold true. 10
4. UI/UX: We have a dedicated team working on a visually appealing and modern UI design. We have seen the competition and believe the 1990‟s look of current Ethereum casinos just won‟t cut it in 2017. We plan to include a troll box in order to allow players to discuss strategies and create an Ethino community.
5. Increasing Bankroll: Ethino‟s bankroll will increase due to the 5% of retained earnings from all profits. This will not only allow the maximum wager amount to increase but also allow the token to appreciate in value as well as to fund the bankroll of future games we plan on developing.
6. Variable House Edge: Our war game consists of 2 independent wagers (War wager and tie wager) with different expected returns for the house. Ethino will offer a competitive house edge of 1.2358% on the war wager for the ROI concerned customers. As well as a 18.6495% house edge on the tie bet for when our customers are feeling lucky. This allows Ethino to appeal to both customers and investors.
7. Multiple Games: Ethino‟s goal is to offer multiple casino games in the future, our first being War. We plan on being one of the first true casino experiences on the Ethereum block chain.
8. Development Team Token Lockup: We will have a token lockup period of 2 years in which every 6 months 25% of our tokens are accessible. This shows our commitment to Ethino and to ensure our goals are aligned with all token holders.
9. Voting Rights: We aim to have voting rights proportional to all token holders. The goal is to move ahead with new game development through token holder input. Other major decisions for Ethino will also involve token holder input.
10. ERC20 dividend: Not only have we revolutionized gambling with ERC20 tokens but we are also brining this feature to our investors. During dividend week token holders can request their share of profits in ETH, as well as any other ERC20 token we support including ENO tokens.
Random Number Generator Logic
Integer representation of card decks:
Assuming each deck has 52 cards, with integers ranging from 1-52 for representation. Cards are arranged based on suits and grouped by values (.... 2 of clubs, 2 of diamonds, 2 of hearts, 2 of spades, 3 of clubs, 3 of diamonds …)
1 = Ace of Clubs
4 = Ace of Spades
7 = 2 of Hearts
20 = 5 of Spades
For a game involving 6 decks, we have integer index representations from 1-312 (values are taken out without replacements *). To find the value and suite of the card we can refer to the following equation:
(⌈x⌉ is the ceiling function)
X % 4 => Suite
X % 52 => normalization basic 52 card deck for value retrieval (for multiple decks) ⌈normalized value / 4⌉ IFF normalized value > 4 => Card Value
Modulo 11 result suite look up (for four distinct suites):
1 - Clubs
2 - Diamonds
3 - Hearts
0 - Spades
We can imply the above information for each integer representation, example as follow:
X = 20
X % 4 = 0 (spades)
X % 52 = 20 (normalized > 4) ⌈ 20 / 4 ⌉ = 5 (5)
20 represents 5 of spades
Our RNG seed will be from Wolfram through Oraclize. We plan to move to ledger proof when it is available from Oraclize which will greatly increase the speed of retrieving secure, provably fair, random number seeds.
Ethino will be using 6 decks * 52 cards each deck = 312 cards per hand.
The Wolfram function called is RandomSample[Range312],2] 13 which will grab 2 unique numbers from 1-312.
The examples are numbers 311 and 157 which Wolfram has returned.
X = 311
X % 4 = 3 (hearts)
X % 52 = 51 (normalized > 4) . 51 / 4 . = 13 (king)
311 represents king of hearts
X = 157
X % 4 = 1 (clubs)
X % 52 = 1 (normalized < 4)
Card value = 1 (Ace)
157 represents ace of clubs
Our game smart contract makes a call to the Oraclize api 14 which reaches outside the Ethereum block chain to retrieve our Wolfram alpha RNG seed. This seed is used to determine the player and house‟s card value. The process of retrieving an RNG seed will occur for every new set of cards requested in our war card game.
Crowd funding Token Information
There will only ever be 20,000,000 ENO tokens. This includes when further casino games are released under Ethino in the future (ex: blackjack). This eliminates token dilution and will gradually increase the value of ENO tokens over time due to scarcity, new games added, earnings, and deflation through lost tokens. ENO token holders are also entitled to earnings of revenue and voting rights proportional to their total ENO holdings.
95% of the profit will be distributed to token holders and 5% added to the bankroll. This will occur through an automated distribution contract which will be developed in the months following the crowd fund. The contract will hold profits for a period of 1 week every 3 months. Profits will need to be claimed by token holders. Any amount not claimed will be permanently added back to the bankroll.
Upon launch of Ethino we will have soft launches with a smaller amount of bankroll funds. Once confident with the soft launch results, we will have all raised Eth funds in the bankroll.
We also have a few unique visions in mind with the 5% of profits being added to the bankroll:
A) Grow the War bankroll and split this bankroll across all games offered by Ethino
B) Grow the War bankroll initially, then switch the 5% of profits to growing a separate bankroll which will be used for our next game
C) Create a main cold wallet bankroll which feeds all of our games. The 5% profit feeds this cold wallet bankroll. Each game will work as a hot wallet with plenty of funds to handle numerous maximum bet wins. When the hot wallet reaches a certain percentage of initial funds, the cold wallet will top up the hot wallets. Repeated requests in a short time span for hot wallet top ups will be flagged and notify us for immediate investigation. This will
add an extra layer of security to Ethino and is the common approach used by exchanges to handle withdrawals
At this point in time, are strongly leaning towards option C due to the realized security benefits.
In the future when the bankroll increases excessively, we have a few ideas of what to do with the excess Ether:
1. One time buy back of ENO tokens, decreasing supply in effect increasing ENO token price. Adding new tokens to the development fund
2. One time buy back of ENO tokens and burn them, permanently decreasing supply and greatly increasing ENO token price
3. One time lump sum profit distribution equally to all token holders
4. Create a ENO token buy back wall (like Bancor) to provide a ENO token floor
Through input and consideration from our token holder‟s votes, we will decide on one of the presented options above or potentially other options at the appropriate time. Long term success of Ethino is our main priority; therefore, we will continually be analyzing the best approach to leverage the use of our growing bankroll.
Total Token Distribution:
12,000,000 ENO tokens distributed under our traditional crowd fund
5,000,000 ENO tokens pre-allocated to the Ethino team
2,500,000 ENO tokens reserved for future game development and unforeseen expenses
Up to 500,000 ENO tokens reserved for the bounty program based on percentage of funds raised
After our 30 day ICO 50% of the remaining tokens will be burned and 50% kept by the team for development.
Total Supply: Only 20,000,000 ENO tokens will be created.
Total fund raising valuation of approximately 20 million USD.
We believe our valuation is very conservative considering the valuation of other casino Dapps. This will bring tremendous value to our investors in token appreciation and through profit sharing.
As of July 6th 2017, the valuation of our competitors on www.coinmarketcap.com is:
https://coinmarketcap.com/asse... 100 million
https://coinmarketcap.com/asse... 34 million
https://coinmarketcap.com/asse... 36 million
https://coinmarketcap.com/asse... 58 million
Traditional Crowd Fund
Tokens will be ready for distribution in September 2017. Each bracket will last up to 7 days.
Total raised ETH hard cap: 56,666
Total Issued Tokens: 12,000,000
Maximum Length of token sale: 4 weeks
Bracket 1: Lasts up to 7 days: 1 ETH = 210 ENO
Bracket 2: Lasts up to 7 days: 1 ETH = 200 ENO
Bracket 3: Lasts up to 7 days: 1 ETH = 190 ENO
Bracket 4: Lasts up to 7 days: 1 ETH = 180 ENO
Future Game Development
This portion of funds will be held strictly for future game development with a 2-year lockup period. We aim to use the dividends earned from this to fuel expenses, such as hiring a support team, server costs, development changes etc. It will also allow Ethino to have the necessary means to raise more capital in the event further funds are required to develop, hire, and market our future games. This will be critical to Ethino‟s success as we do not have any further revenue streams to pay for ongoing operational costs. We plan on holding onto these tokens and will refrain from selling them off unless absolutely necessary. Selling these ENO tokens will dilute current ENO token holders which we will refrain from doing.
A total of 5 million ENO tokens are reserved for the Development team. These ENO tokens will be handed out to the Ethino development team. Once again, we do not want to sell off these tokens and will only do so if absolutely necessary. (We will have a token lockup period of 2 years in which every 6 months 25% of our tokens are accessible) Our plan is to earn our income
through our allotted share of dividends from holding these tokens. This negates the need to sell them and keeps the circulating token supply small, increasing token value.
Ethino plans to raise funds using the first ever token distribution through gambling. We call this new token distribution method, Token War. After the traditional crowd fund period of Ethino, we will be using Token War to raise any remaining amount of ENO tokens. Through our Token Wars smart contract, we allow Ether wagers to be placed to win our ENO tokens. Each loss is added to the raised Ether capital and each win results in free tokens for the player. Further details will be announced closer to the end date of the traditional crowd fund.
An extensive bounty program will be created for white paper translations, bug bounty, marketing bounty etc. More information will be posted on our blog at https://medium.com/@Ethino_Cas...
Token holder benefits
Return on Investment:
95% of earnings will be held in escrow every 3 months for 1 week on all profit earned during that time period. Every token is entitled to an equal proportion of earnings based off of the total supply of ENO tokens. Earnings must be manually claimed. This is a preventative feature whereby lost ENO tokens will be unable to claim funds. An automatic approach would not distinguish between accessible and inaccessible ENO tokens. Any unclaimed funds will be added to the bankroll which will allow the house funds to gradually grow over time.
There will also be token value appreciation simply due to the 5% of retained earnings which will go back into the house bankroll and/or future game bank rolls. ENO token holders are investing in an Ethereum casino with future plans to develop more games.
Voting rights allow token holders to work together with the Ethino team on the direction of the casino. For example, a vote is held to determine which game the ENO token holders are most interested in being added to Ethino.
We will be developing a few contracts in order to run our casino Dapp securely and automated on the Ethereum block chain. Each of these contracts will also be audited by an independent third party source to ensure bugs are discovered and contracts optimized.
Our first game contract will be exclusively for our War game. We plan to have separate third party audited contracts for each game on Ethino. This will strengthen security by isolating each game to its own smart contract. Any changes to one game will not affect the other.
Erc20 Game Contract:
This contract will be the very first of its kind on Ethereum. It is a game changer, enabling our players to wager any ERC20 token and even request payouts in any ERC20 token. By leveraging Kyber Networks instant DEX we are able to offer this revolutionary experience to our players. It will expand our user base by billions of additional dollars which are currently locked up in ERC20 tokens. No other Ethereum casino currently offers or has plans to offer this feature.
Promotional Game Contracts:
We will have promotional game contracts which we plan to deploy on special events which enhance player returns. Ex: Our game contract payout price multiplier is 1.0, and we have an oracle which feeds us the price in USD. When our Promotional Game Contract detects 1000+ USD Ether price then the payout price multiplier is for example 1.03
A future voting contract will be created in order to communicate securely with our token holders on issues pertaining to the development of Ethino. Our current model is a voting contract to present ideas and receive feedback on proposals we plan to go through with. Or to even decide the next game Ethino should add. We will explore any governance Ethereum Dapp which can assist us, such as Aragon.
Our dividend contract will be an automated approach whereby all ETH profits from the previous 3 months will be held in a reserve for token holders to claim. The contract will operate similarly to dividend paying stocks whereby a year is divided into 4 equal quarters. Every 3 months, 95% of the profit will be sent and stored in our dividend contract and held for 1 week to be claimed. Any unclaimed profit will be added to the bankroll. We will also be implementing the ability for our token holders to request their dividend payout in any ERC20 token. We will once again be leveraging the Kyber Network in order to provide this unique feature to our token holders.
Token War Contract:
This contract will be created in the event all ENO tokens are not sold within the 30 day Traditional crowd fund. It enables users to wager Ether for ENO tokens. Winners get free ENO tokens and their ETH returned. Losers have their ETH added to the contribution pool and will not be given any ENO tokens. This contract would be the first of its kind on Ethereum.
Majoolr Contract Security and Development
We have partnered with trusted security experts Majoolr for current and future contract development and auditing. Each of Ethino‟s contracts will be extensively tested in the Ethereum test net as well as thoroughly inspected by Majoolr. Our highest priority lies in the security of these contracts. Additionally, every major change to existing smart contracts will be audited in order to ensure no new bugs are reintroduced. Any time necessary to ensure our contracts are bug free will be taken by the Ethino team to ensure funds are safely secured.
August- September 2017
Crowd fund launch
September - October 2017
Official alpha launch on test net
Third party security audit on game contract
Develop Token War contract (Only if required)
Third party security audit on Token War contract (Only if required)
October -November 2017
Live Soft launch of Ethino for ETH to ETH wagering and payouts only
December 2017-March 2018
Complete ERC20 wagering/payout development
Security audit on ERC20 smart contract
ERC20 wagering/payout soft launch
Full launch of complete bankroll (tentative)
Develop dividend smart contract
Security audit on dividend smart contract
Go live with dividend contract after security audits passed
Development on new casino game begins
New game official alpha launch on test net
Third party security audit on game contract
Develop new games for the Ethino platform
Security audit for new games smart contracts
Soft launch of new games
Full launch of new games using full bankroll
Create voting smart contract / use Aragon or other governance platform
Upon availability we plan to implement the following:
Payment Channels: Raiden implementation to greatly reduce bet processing times
Update RNG Seed: Ledger proof implementation to ensure a truly random RNG seed is generated
We will dedicate 70% of the funds raised to the bank roll. This will allow for larger bets, bigger wins and most of all higher dividend payouts to token holders.
Our target market is crypto holders with an emphasis on Ethereum holders. Banners and social media bounties are just two examples. Specifics include: coinmarketcap banners, Bitcoin talk, twitter, Reddit bounties etc.
This 5% allotment will be used to hire 1 more person to assist with development/support. As Ethino ramps up we will look into using the development fund dividends to support more contractors.
Legal and accounting
We do not want to risk ever being shut down for any reason, and believe seeking legal guidance as well as purchasing a proper gambling license will allow Ethino to grow worry free.
Unforeseen Expenses/Exchanges funding
Any expenses which abruptly come up and require immediate attention will be funded using this pool of funds. We will also use these funds to list Ethino ENO tokens on as many exchanges as we can. Listing fees would be covered by this pool.
In order to continue development of the casino Dapp, this allocation of funds will go towards the Ethino team members.
Introducing Ethino TrollBox Alpha v1.0TrollBox found on bottom right. Click to open group chat. TrollBox found on bottom right. Click to open group chat.
We have implemented a heavily missed feature everyone has been craving since the awesome Poloniex TrollBox was removed. Introducing the Ethino TrollBox Alpha v1.0. This community group chat will enable players to discuss strategies and provide further entertainment while gambling in Ethino War.
Right now this TrollBox is being tested on our website www.ethino.com as well as on our War alpha game. It is also working on mobile as well! Let us know what you think.
This is just one of the many features we plan to add to Ethino. Join us on telegram or subscribe to our mailing list for sneak previews on new features!
Crowdsale address: 0xa7bad60aa9f853b4f3195c6964e4464eae078410
Ethino Website: https://ethino.com
White paper: http://www.ethino.com/files/ethino-whitepaper.pdf
Alpha on Rinkeby test net: https://www.ethino.com/alpha/
Ethino Email: [email protected]