FAQ About the vDice Crowdsale (ICO)
Go to crowdsale.vdice.io – Click the “Buy vSlice” button.
There is an Instruction Guide for the process to buy.
It is an easy process to buy with ETH, BTC or any major Alt-Coin.
**IMPORTANT: Send with 200000 GAS min. Also, DO NOT send from an exchange or hosted wallet (e.g. Coinbase). You must control the private keys.
OK, so you’ve bought your vSlice tokens. Great! Now you want to check the balance.
Follow this simple process here:
So, there are 2 ways to earn from vSlice:
1) Trade the vSlice token on exchanges for its trading value. A lot of ICO tokens are trading on exchanges at 100%+, immediately after ICO.
2) Hold the token and automatically accumulate profits from vDice game (in ETH), each month. Also, enjoy any increases in price of the token itself.
No! vSlice issuance doesn’t work that way. There is a Smart Contract issuing the vSlice tokens. The address of the Smart Contract is:
Whenever ETH is sent to that address, new vSlice are created (minted), in this ratio:
Week 1 : 1 ETH = 130 vSlice.
Week 2 : 1 ETH = 120 vSlice.
Week 3/4 : 1 ETH = 100 vSlice.
Hard coded into the ICO Smart Contract are the dates and exact times that the rate changes. That is, how many vSlice you get for each ETH.
Token issuance change from 130 vSlice / 1 ETH to 120 / 1 ETH:
GMT: Mon, 21 Nov 2016 18:18:08 GMT
Unix Epoch Timestamp: 1479752288
Token issuance change from 120 vSlice / 1ETH to 100 vSlice / 1ETH:
Unix Epoch Timestamp: 1480357088
GMT: Mon, 28 Nov 2016 18:18:08 GMT
The ICO end when it reaches 700K ETH. Or, on December 15th – whichever comes first.
The maximum number of vSlice there can ever be is 96m. If the cap of 700K ETH is reached the minimum there can ever be is 70m. The number of vSlice will fall between 70m and 96m if the cap of 700K ETH is reached. If the cap is not reached, the number will be lower than 70m.
It means that the profits from ALL vDice games are accumulated, at a Smart Contract, during the month. Then, at a certain point in time, vSlice tokens holders can withdraw their profits from the Smart Contract.
There are periods called ‘epochs’. The first 25 days of an epoch the Smart Contract is unlocked and tokens can be traded (except for during the ICO).
And the last 5 days the Smart Contract is locked. This is when you can get your profits.
After that it rolls onto the next epoch and so on.
vSlice token holders get a share of profits from ALL vDice games.
The way the profits are distributed is simple.
Let’s take an example;
If there are 96,000,000 total tokens, and a token holder owns 100,000 tokens, they have 0.1% ownership.
And at the start of the current locking period, there was an exact vDice profit balance of 10,000 ETH.
Then, this token holder takes his profits, he will receive 0.1% of the profits; 10 ETH.
You can trade and exchange vSlice tokens once the ICO is over. The tokens are locked and cannot be moved during the ICO period. This is a security measure to ensure the safety of the Smart Contract issuing the tokens.
There is no minimum on the ICO Smart Contract. There is a maximum of 700K ETH. The decision to have no min. and a max. bound were due to reasons of good security practice and emerging best practice standards in the space.
There is a flat 5m vSlice token amount that is reserved for the coders and contributors.
There is a large extended team, lead by a core team. They all make vDice and its token happen. To run a live, working, secure, Dapp on Ethereum takes the best brains in the business.
By compensating this extended team in the token, incentives are aligned to continue to keep vDice as the leading gambling, live, gambling platform in Ethereum.