DAO.Casino launches its ICO

Thursday, 29 June, saw the launch of the latest high-profile initial coin offer (ICO) for one of the most ambitious cryptocurrency-based Internet projects. This particular ICO will no doubt be of interest to the gamblers out there as the project promises to renovate online casinos as it provides a complete package that will enable a new foundation for online casinos. The ICO in question is that of DAO.Casino and will continue until 26 July. The maximum capitalisation for the ICO has been set at $25m worth of Ether.

What is DAO.Casino?

DAO.Casino is a decentralised protocol which is described thusly by its CEO Ilya Tarutov:

“Everything in the system from random number generation to rewards distribution is transparent, auditable and administered by cryptographically verifiable code. No one can change the rules secretly in their own favor.”

Its goal is to provide all parties involved in the online casino environment with a fairer deal. Some of the most important points related to this project are that game developers will reap the rewards of their creations from the moment that online casinos start using them while retaining the copyrights to their products while the use of smart contracts means there will be no need to rely on third parties with vested interests. Another benefit is that it allows game developers to manage their games without the need for casinos, meaning that essentially anyone can set up their own casino. When it comes to provable fairness, DAO.Casino will provide random number generators.

What are the benefits of buying?

DAO.Casino have carefully prepared a beneficial schedule for their ICO that follows the mantra of the early bird gets the worm. First-day buyers will get 2000BET for every Ether they invest in the ICO. For the next two weeks, 1 Ether will get you 1800BET while after that the BET to Ether ratio will drop by 100BET every fourth day and will reach 1300BET for buyers who leave it to the last minute to invest in DAO.Casino. BET can be used on the system for in-game spending so getting your hand on as many as possible is sure to be of use for you later on.

DAO.Casino’s promise for transparency and auditability extends to the ICO as it has announced how it plans to distribute the tokens, with the majority (70%) going to purchasers and a further 10% going to the legal entity, bounty and founders respectively. The project has also announced how it plans to use the finance raised from the ICO. 60% will go to research and development, another 20% for operation, 15% for marketing and the remaining 5% will be used for legal costs.

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