While we are working on the beta, we have decided to launch a small mini-game on to make the waiting a bit more fun!
His Greatness, Lord of Infernal Cauldrons, Infernal Horse hosts this amazing attraction. Put Ether or ETH.TOWN tokens in a cauldron along with other participants, wait, and see who gets the contents.
The Idea
Basically, you can put as little as 0.001 Ether (or ETIT tokens) and win the whole pot, which can be HUGE!
Alternatively, you can put a large amount and get all the Ether or Tokens added by other players if you win, because your chances depend directly on how much you put in.
Winners
There are three winners, they get approximately 50%, 35%, and 15%. The rest goes to the overlord of Infernal Horse and ETIT holders in Ether cauldrons, or in case of ETIT cauldrons, burned. The infernal flames you are witnessing are 100% environmentally friendly and are powered solely by burned ETH.TOWN tokens.
How to play
Select the amount of Eth or ETIT to add to the cauldron. When the timer runs out, 3 winners will be selected and they get around 50%, 35% and 15% (the exact percentage depends on winners’ Hero levels) of the amount of Ether/ETIT in the cauldron.
Amount to brew
You can contribute any amount but no less than 0.001 Ether/ETIT. The more you contribute the higher chance you have to win (they are proportional to value contributed). The draw happens using hash of the last block after the time when the timer expires, no random or pseudo-random values are used. Logs of each draw are preserved.
Drawing winners
When the timer runs out, our system waits for the Ethereum network to reach consensus on the exact form of the block right after the timer expired. When it’s finalized (we are just waiting for it to become 4th block from top), our system will get its hash (a 256-bit number) and perform some arithmetics and bitwise operations with it to select the three winners. All numbers involved are logged and can be checked by pressing the “Report” button.
Something else?
ETIT holders will start getting the ETH coming in from the game revenue from the day 1. Right now it’s already slowly accumulating at the token contract address. Players will be able to withdraw it as soon as we officially launch the game and unlock the interfaces for withdrawal. Dear ETIT holders, remember: the more people play the Infernal Cauldrons, the more revenue you get!
Game reception
Not everyone was happy to see that the first public ETH.TOWN mini-game is something that involves risks. We’d like to tell that not all mini-games in ETH.TOWN will be like that (however we’ll have more games like this one). Some others will not involve any risk at all, they’ll just drive the fun, others will actually give you a chance to win free Ether without any material input from your side.
Stats
So we’ve been running this game since March 30th.
So far the cauldrons worked 532 times! ETIT holders already got a nice ~3ETH in their dividends pool, just from this mini-game alone. How cool is that? The game did not even get launched yet, but proud token holders are already getting profits!
All in all, it looks like the idea of having mini-games inside of ETH.TOWN actually works well for the ones who have jumped in early and for the ones who enjoy this kind of games!
Next
Currently we are working on finishing the main game around heroes, preparing for the distribution of Heroes as ERC-721 (non-fungible) tokens on mainnet to those who bought them in the presale. While we are approaching the beta, we’ll also host a series of trivia contests in our Discord and give away special Pirate Level-6 heroes to the winners 🙂 This should be fun!
ETH.TOWN team.
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bitcoin (BTC) had earlier been showing some signs of going past $7,000 and going back to its winning ways. Earlier today, the King of Crypto was trading at $7,178 but has since dropped down to $6,765 at the moment of writing this. Ethereum (ETH) had also shown some signs of recovery by trading at $429 only to drop to $395 at the moment of writing this. Ripple (XRP) exhibited a similar pattern rising to levels of $0.52 in some exchanges, then dropping to $0.48. Litecoin (LTC) was not left behind and had earlier peaked at $122 only to drop to current levels of $114.
These patterns might worry a few seasoned traders who are wondering if the total market cap of the Crypto-verse will drop to below the much dreaded levels of $250 Billion.
But one seasoned Stock market strategist with over 25 years in the business and who is now knee deep in Cryptocurrencies, believes that this period of uncertainty will be brief. The Stock market strategist is no other than Thomas J. Lee, CFA and a company that defines itself as an an independent research boutique. Fundstrat provides market strategy and sector research to its clients in a bid to provide practical road-maps and insights with respect to investing.
According to Lee, the American tax season ends on April 15th every year. What then proceeds is that many Americans receive their tax returns from the American IRS (Internal Revenue Service). The most natural thing Americans do with their refunds is they buy new cars or new electronics. But in very many cases, they invest their money. Traditional forms of investments are the usual mortgage payments, saving for your kids college tuition or even buying some traditional securities.
However, with the ever exciting world of Crypto-currency, a good portion of that money will be invested in popular coins and ICOs and hence boosting the total market cap to safe levels of above $250 Billion.
, is that many Crypto traders sold off their Crypto earlier in the year as soon as the IRS started announcements of taxing crypto trading profits. This is a very plausible theory for the IRS demands came at a time when crypto trading was at its peak and BTC was around $19,000 and soaring above the Stratosphere.
Lee is quoted as saying:
“Selling pressure for bitcoin should be alleviated after April 15th…”
This is less than 6 days away. Let as wait and see if Thomas Lee’s predictions are correct. He still maintains that BTC will be and.
[Photo source, fundstrat.com]
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