DICE Money integrating with Bancor Protocol, giving Dicet token a new source of liquidity
DICE Money, a digital alternative for cash, is announcing its integration with Bancor Network, the decentralized liquidity network. Purchasing and selling dicets will now become significantly easier through the Bancor Network, where users will be able to convert dicets for any of the nearly 100+ tokens currently available on Bancor, including ETH, EOS and DAI.
Dice Money’s dicet will activate a Relay Token with 3% of its circulating total supply to be activated immediately after the ICO ends. A Relay Token holds a balance in any ERC20 token, such as the dicet, and holds a balance in BNT. This means the dicet will be convertible with any other token in the Bancor Network, providing continuous liquidity at a formulaically calculated price.
Anthony Johnson, a co-founder of DICE Money, said: “We want to give our community as many options as possible to trade dicets, and our integration with Bancor presents an exciting opportunity for our users to do just that”.
Dilip Chandar, a co-founder of DICE Money, said: “Integration into the Bancor Network is a valuable step for DICE and especially continuous liquidity will help holders use their coins in everyday transactions”.
About DICE Money
DICE Money is digital cash, to be used in everyday circumstances. Not built on a blockchain, it utilises a unique cluster-based network of operators and miners. Each operator represents an entity and the miners associated with it donate a portion of their mining profit to it. This provides a revolutionary way of starting projects. Instead of crowdfunding or performing an ICO, an individual or company can set up as an operator and people contribute through crowd-mining. The community makes use of their computational resources to fund the project instead of donating money.
The key benefits of the model include its high level of security and the ability to mine offline. DICE can be held in a physical format which is then impossible to steal electronically. DICE does not require a digital wallet or require an exchange. Offline mining is rare in the cryptocurrency space as most projects use blockchain technology. It allows users to mine DICE while offline and then receive them when they connect to the internet.
To kickstart the project, DICE Money are undergoing an ICO which is currently in Wave 1. The overall hardcap is 20,000 ETH. There are four ICO waves with dicet price gradually increasing from 1 ETH = 1,000 dicets to 1 ETH = 500 dicets. You can register for the ICO here.
The Bancor Protocol is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “connector” method to enable formulaic price calculation and continuous liquidity for all integrated tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. To convert tokens instantly, visit the Bancor Web App or join the Bancor Telegram group for more information.