If you are new to an initial coin offering (ICO) the definition from google nails it:
An Initial Coin Offering, also commonly referred to as an ICO, is a fundraising mechanism in which new projects sell their underlying crypto tokens in exchange for bitcoin and ether. It’s somewhat similar to an Initial Public Offering ( IPO ) in which investors purchase shares of a company.
BetKing Bankroll Token Crowdsale Key Details
- 100,000,000 BetKing Bankroll Tokens will be created as Ethereum ERC23 tokens.
- 70 million will be for sale to crowdsale participants.
- 30 million will be retained by BetKing for ICO bounties (1%), testing bounties, advisors, hiring, future marketing and development.
- BetKing Bankroll Tokens can be purchased with Bitcoin, Ethereum, Litecoin and Dash. All funds will be held in cold storage.
- A percentage of the profit made from bankrolled games will be used to buy back BetKing Bankroll tokens from holders.
- Every quarter BetKing will offer to buy back up to 10% of a holders tokens at the current buy back price.
- The crowdsale started on the 7th of August (00:00 UTC) and end on the 4th of September (00:00 UTC).
- There is no cap on the total funds that can be raised.
- There is no minimum amount needed to be raised for the crowdsale to be successful.
You can also visit ico.betking.io for the full details.
What is BetKing again?
We did an interview with the founder of BetKing in June 2017 before the ICO launched and he shared some interesting insights into the site. BetKing from September 2014 to December 2016 was the biggest crowdfunded Bitcoin gambling site on the market. In that short period it made 7,391 Bitcoins in profit and had the biggest crowdfunded bankroll of 6,000 Bitcoins.
At the end of 2016 BetKing was taken offline while Dean was planning something bigger – he wanted to expand from the #1 dice site to the #1 gambling site. During this period, Dean gave the bankroll investors back their money (many sites have run off with such a large sum in the past), making him one of the most trusted gambling operators in the crypto space. Since then Dean and his team have been working to create a new platform that includes more games, more cryptocurrencies and an application platform that will allow other people to create games on top of it (think Moneypot). Most importantly for investors, the bankroll will now be launched in the form of an ICO!