- What is Ethorse?
Ethorse is the first app allowing users to bet on the price of Crypto. It works without requiring to signup, deposit or trust anyone including the development team. It’s a decentralized app based on a completely transparent smart contract code in Ethereum Blockchain.
2. Is the platform ready for betting or do we have to wait 2 years?
The platform is live on Testnet where users are betting with Ropsten ETH on the prices of BTC, ETH and LTC. We are releasing on main network soon (February 2018) to let users bet with real money (ETH).
3. Why there is no “Team” or “Advisor” faces on your website?
The work that we have done so far this project and the outcomes should speak for that more than a few headshots / LinkedIn profiles that anyone can fake.
4. Is there a purpose for HORSE tokens?
A dApp such as Ethorse requires community support for long-term success. Horse token holders receive quarterly rewards in ETH that comes from the 5% takeouts of all the races. Horse token holders can also unlock advanced features in the platform. Other benefits include a reduced takeout rate for their bet winnings.
5. How much is raised in the crowdsale?
Details here: Ethorse — Hard cap reached & HORSE tokens are sent
We reduced the Hard cap to 4000 ETH on January 9 after the increase in Ether price. Above numbers are latest. Announcement: https://medium.com/@ethorse/ethorse-crowdsale-hard-cap-token-price-reduction-f71d57f83987
6. How to see token balance in the wallets?
Instructions are here: https://medium.com/@ethorse/ethorse-hard-cap-reached-horse-tokens-are-sent-8ce882719489
7. Will there be a lockup period for Tokens allocated to the founding team?
Yes. There is a 2-year-vesting schedule. Tokens are time-locked in Ethereum smart contract.
8. Where can I buy HORSE tokens?
IDEX is recommended and currently have trade large volume. Tokens are also being traded on Etherdelta. Team is working to get listed on more exchanges.
9. How is betting on Ethorse different from buying in exchanges?
Ethorse provides a betting system widely used in Horse Betting — “Parimutuel Betting”. With this, if a coin/token wins by having even a slightly higher price increase %, you win the entire pool from everyone who bet on other coins.
Eg: If everyone is betting on BTC or ETH, let’s assume 100 ETH, and you are the only one to bet on LTC which later becomes a winner, then you win 100 ETH from the others even if you wagered only 0.1 ETH. This is where the Pay-off odds come into play, providing chances to win huge amount that’s not possible with simply buying a token/coin in exchanges. Also, there are no signups or deposits in comparison to centralized exchanges. Everything is controlled by the trustless open source smart contracts.
10. What does Horse have to do with your dApp?
Ethorse uses a betting system commonly used in Horse Betting called Parimutuel Betting. In Parimutuel betting, all bets on participants are placed together in a pool, participants finish in a ranked order in a specific time and the winning pool takes all of it after the “house-take”. In Ethorse, the coins/tokens are the horses, they are ranked based on the price gains in a specific race period.
11. Is there any competition for Ethorse?
There is no direct competition. There are decentralized prediction markets, but they do not have a working product yet and they do not focus/have features specific to betting on crypto.
12. Who is going to use Ethorse?
Crypto Traders who uses the TA/FA skills. Most of the crypto community already filled with users betting on the price in exchanges by flipping coins/tokens. Ethorse provides a way for them to bet on the coins/tokens with chances to win large amounts in a trustless way.
Start a discussion in Reddit: reddit.com/r/ethorse
Our website: https://ethorse.com
