Ethorse project update — January 22, 2018
Over the last 10 days, after the successful completion of the crowdsale, we at Ethorse continued to work hard on several things including the development of the product for the Main-net launch and listing of HORSE tokens in exchanges for trading. Below is a brief update in each area.
We welcome all new members who joined our community. Even without any sponsored promotions, we are noticing a huge growth of people joining us on Reddit, Telegram and Discord. We believe this speaks volumes of users agreeing with our concept as it so simple yet powerful. Here is a comment we heard from one of the new members who joined the community, quickly after reading our whitepaper:
Introducing a decentralized form of anonymous buyable binary options is nearly genius level
We are also noticing that our community members are being very helpful to the new members by answering any questions about the project to help them understand better. We are very thankful for this support, as this is the kind of community that will drive Ethorse forward.
The recent updates haven’t been pushed to the dApp on Ropsten network yet, but the team has been making great progress in updating the smart contract. The recent update removes the need for deploying a new contract manually everytime when we want to start a new race. We have written a parent contract (Controller contract) which controls spawning new races automatically. After triggering a function once, the spawning, rewarding, and even collecting the house takeout is done by the controller. We are also making updates to the UI, so users can easily view the results of any race that happened in the last 30 days and claim their winnings. After a thorough testing and security audit, the dApp will be released on the Main-net with limited features. We are positive about the Main-net soft launch in February 2018. The date of release will be announced when we have better estimates after the testing. User fund security has been our top priority. With the first release on Mainnet, we want to make sure the funds are safe without any security vulnerabilities. The first payout from the 5% takeout for HORSE token holders will be provided three months after we begin the race on Main-net.
Community interest in our development is growing with more developers following us on Github, reviewing the code and contacting us with interest to build tools on top of our contracts to show player stats, etc.
HORSE tokens are being traded in IDEX and Etherdelta since we unlocked it a week ago. Most of the trading volume is from IDEX where users are having a very smooth experience so far. We understand the importance of publicity that will come from being listed in more exchanges. The team has started working on this even before the crowdsale. However, due to the rush of new tokens in the market, there has been a huge demand to get listed on many exchanges. For this reason, we are not receiving a fast response from the exchanges as we would like to. The exchanges that did respond have quoted us in the range of $250K-$400K. It would be irresponsible for us to pay such large amounts with the project being at an early stage. The team will continue to follow-up with the other exchanges. Hopefully, we can get on the community voting in some of them and vote to get listed soon.
We received a lot of questions about our Marketing plans. From translations and banner ads to strategic partnerships, the team has all the plans in place to execute them at the right time. We will start them when there is a need as the platform matures after a few iterations based on the community feedback and application performance. Marketing the platform at the right time is critical for the brand value and a sustainable growth. Maximizing the volume long term is our ultimate goal.
We are currently listed in Coinmarketcap with market cap and token supply. Our token page in Etherscan shows the price of the token with links to our official pages. Users of most of the portfolio tracking apps can add HORSE to their portfolio now. Feel free to reach out to us if you have any questions or feedback from using the dApp on Ethereum Ropsten Network. We will keep communicating with the community as much as possible. We may not be able to answer all the questions in the chat platforms as it can be lost among other messages. If you want to start a community discussion and also get a response from us, our subreddit would be the best place.
Thank you for being a part of the Ethorse project. We are excited to work together with you all to build Ethorse as one of the best dApp on Ethereum Blockchain.