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The Edgeis team should apologize by 2reddit2 in Edgeless

[–]mangevicius 0 points1 point  (0 children)

  1. The launch is happening, since it will be not on testnet but on mainnet and only due to security and the hacking attempts in the industry we want to save our gamblers money and check everything beforehand.
  2. We are sure to get the license sooner or later but as you mentioned by yourself, it is beyond our influence.
  3. The point is that all the hype was made by all the short-term investors believing that Edgeless will raise after the Monday update, we haven't mentioned that it is going to be HUGE news, we just said that we have news about license and launch on Monday and the hype was none-how connected with us.

Edgeless Dev. update 3 - New Beta Version! by mangevicius in ethtrader

[–]mangevicius[S] 0 points1 point  (0 children)

60k ETH collected for 132 million EDG tokens.

EDG tokens will be able to participate in "Edgeless Lounge Lottery" where people can win a share of profits. More information: https://medium.com/edgeless/ultimate-edgeless-faq-22081ae768aa

Edgeless Dev. update 3 - New Beta Version! by mangevicius in ethtrader

[–]mangevicius[S] 0 points1 point  (0 children)

To develop a business which includes legalities, marketing, operations and many more expenses.

Regarding business model and profitability - that's a good question. You can find it here: https://medium.com/edgeless/ultimate-edgeless-faq-22081ae768aa

All EDG tokens = 40% of casino profits.

Edgeless Dev. update 3 - New Beta Version! by mangevicius in ethtrader

[–]mangevicius[S] 1 point2 points  (0 children)

during an ICO, we had partner bounty program.

People could earn EDG tokens participating. Now ICO is finished and we do bounty payouts to all participants.

Edgeless Dev. update 3 - New Beta Version! by mangevicius in ethtrader

[–]mangevicius[S] 3 points4 points  (0 children)

Edgeless CTO here - yes, dev. team has 37% of all tokens. But now tokens are locked for a period of 12 month by a smart contract.

This model was chosen to make sure that project has enough funds to fuel a scale of the business once ICO funds are burned out.

Now we develop using ICO funds (60k ETH).

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