The ETH93 crowdsale contract will only start selling ETH93 tokens after our lottery has run for a reasonable period of time, has a decent userbase and works as expected. Follow our Twitter to keep up to date with developments.
In order to raise Ether to grow this service, ETH93 will be offering a token allowing users to take a cut of ticket sale revenue in Ether. Ether raised is intended to be used as follows:
Unlike many high profile crowdsales on the Ethereum network that seek thousands of Ether before ever having developed a product, our crowdsale will be much more modest and offers token holders a tangible benefit in the form of a cut of ticket sales, rather than simply offering a token where it's unclear what it may be used for in future. We are also only starting the crowdsale after we have developed the first version of the lottery and proven it as a viable concept.
How will ETH93 token holders get ticket sale revenue in Ether? As a simple example, suppose if 300,000 ETH93 tokens have been sold out of a maximum allowed of 1,000,000. Token holders would be entitled to 300,000/1,000,000/100 = 0.3% of ticket sale revenue in Ether for all time. A user holding 150,000 ETH93 tokens would be entitled to 150,000/1,000,000/100 = 0.15% of ticket sale revenue in Ether for all time. ETH93 tokens can be traded for their ticket sale revenue in Ether at any time. Of course, because of the way this is setup, it would only make sense to trade ETH93 tokens for their ticket sale revenue in Ether if and when the lottery stops getting any players, since as long as people are participating in the lottery the ticket sale revenue in Ether for token holders can only increase.
Email firstname.lastname@example.org with any queries, and as mentioned, make sure to keep an eye on our Twitter so you know when the crowdsale launches. In the meantime, be sure to participate in our daily lotteries!