Minimum bet lowered to 2 eth from 3 eth

Thanks to sustained lower gas prices on the network we have lowered the minimum bet to 2 eth down from 3 eth. We hope this lower gas price trend continues and we can further lower the barrier of entry for our valued players as we look forward to lowering the minimum bet even further moving forward. We will continue to monitor the network gas price situation and adjust our minimum bets accordingly.

Gas price inflation update and dynamic minimum bet size introduced

Ethereum’s network fees have surged over 3,500% year-to-date. In January, the average transaction fee on Ethereum was $0.08, now the average fee is well above $3. Fees on the network are rising, even after ETH miners increased its gas limit from 10m to 12.5m per block. The hashrate is hovering above 200k GH/s, a level that has not been seen since 2018. The hashrate is rising as demand for DeFi applications has been growing exponentially over the last few months. So much so that DeFi platforms have seen their total value locked go from less than $1 billion in May, to over $4.6 billion today.

Etheroll pays transaction fees to the network for each game result. These costs have risen in line with network-wide transaction fees. The extreme surge in the cost of transacting on the network forces our hand into increasing the minimum bet to 3 eth and our result gas price to 200 gwei in order to be able to provide the network the fees required to return game results in a decent time-frame for players and to ensure the game continues running in a profitable manner via the built-in 1% house-edge mechanism.

In other words, we have built-in a dynamic minimum bet (‘cost’ to player) and result transaction fee (real cost to etheroll) which will be adjusted according to be economically viable and to match the gas market conditions daily until we can write and deploy much more gas efficient contracts or transaction fees fall. Of course, we have seen spikes in gas prices before, and hope this is only a temporary measure until gas prices come back down to earth after the hype surrounding the latest DeFi craze calms down. We saw gas price spike due to the ICO stage in 2017 and again with Cryptokitties in 2018. Eventually, network fees did return to normal, however we have never seen them rise like this, which is why we are taking such drastic action.

In light of this, our primary focus now is the complete re-engineering of our smart contract in order to attain a level of gas efficiency on the network which would allow Etheroll to scale and thrive during times of massive gas price increases such as this. In the meantime, these adjustments we are making today mean we are still able to cater to players who enjoy the thrill of playing Etheroll with a generally higher minimum bet (high rollers) even during times of massively increased gas fees.

We will continue to provide updates as necessary.

Wealth Week XIII Is Now Closed. ÐICE Tokens Are Unlocked.

We are pleased to announce Wealth Week XIII is now closed and ÐICE tokens are now unlocked and available for transfer as per normal.

Our next rewards period opens 12 weeks from today on November 2, 2020. Save the date in your calendar to ensure you are able to participate in the next round. If you attempted ÐICE transfers during the lock period which were unsuccessful due to the lock period, you can now submit those transactions again in order to move ÐICE.

ÐICE Tokens Are Locked And Non-transferable For A Period Of 1 Week

ÐICE tokens are locked and non-transferable during Wealth Week XIII. Due to the bankroll being in negative territory, there are no rewards distribution for this period. If you are a ÐICE token holder there is no action you need to take.

Wealth Week XIII Dates
Aug 3, 2020 9:30AM UTC – Aug 10, 2020 9:00AM UTC.
Duration: 7 days

IMPORTANT: During the 1 week lock period you will not be able to transfer ÐICE tokens. If you attempt to transfer ÐICE tokens during the lock period you will need to perform the transfer again after the lock period ends (Aug 10, 2019 9:00AM UTC) in order to move your tokens. 

ATTN: ÐICE holders, you have <12 hours to pull ÐICE tokens off exchanges

ATTN: ÐICE holders, you have <12 hours to pull your ÐICE tokens off exchanges and into a wallet that you control the private keys to in order to participate in Wealth Week XIII, however due to the bankroll currently being in negative territory there will be no rewards distribution this period, so there is likely no action you need to take.

Tokens will be locked during Wealth Week XIII, so if you do need to move them, move them before the dates outlined below.

Wealth Week XIII Dates
Aug 3, 2020 9:30AM UTC – Aug 10, 2020 9:00AM UTC.
Duration: 7 days

IMPORTANT: To be eligible for your share of any rewards you must pull all of your ÐICE tokens from exchanges and be in full control your tokens with your own private key before Aug 3, 2020 9:00AM UTC. If you are not in control of your tokens by Aug 3, 2020 9:00AM UTC you will not be able to claim any rewards which may be available during the rewards period and you will lose access to your rewards. No exceptions.

ATTN: ÐICE holders, you have <48 hours to pull ÐICE tokens off exchanges

ATTN: ÐICE holders, you have <48 hours to pull your ÐICE tokens off exchanges and into a wallet that you control the private keys to in order to participate in Wealth Week XIII, however due to the bankroll currently being in negative territory this close to the rewards period, there will likely be no rewards distribution this period.

Tokens will be locked during Wealth Week XIII, so if you do need to move them, move them before the dates outlined below.

Wealth Week XIII Dates
Aug 3, 2020 9:30AM UTC – Aug 10, 2020 9:00AM UTC.
Duration: 7 days

IMPORTANT: To be eligible for your share of any rewards you must pull all of your ÐICE tokens from exchanges and be in full control your tokens with your own private key before Aug 3, 2020 9:00AM UTC. If you are not in control of your tokens by Aug 3, 2020 9:00AM UTC you will not be able to claim any rewards which may be available during the rewards period and you will lose access to your rewards. No exceptions.

ATTN: ÐICE holders, you have ~5 days to pull ÐICE tokens off exchanges

ATTN: ÐICE holders, you have ~5 days to pull your ÐICE tokens off exchanges and into a wallet that you control the private keys to in order to participate in Wealth Week XIII, however due to the bankroll being in negative territory, there will likely be no rewards distribution for this period.

Tokens will be locked during Wealth Week XIII, so if you do need to move them, move them before the dates outlined below.

Wealth Week XIII Dates
Aug 3, 2020 9:30AM UTC – Aug 10, 2020 9:00AM UTC.
Duration: 7 days

IMPORTANT: To be eligible for your share of any rewards you must pull all of your ÐICE tokens from exchanges and be in full control your tokens with your own private key before Aug 3, 2020 9:00AM UTC. If you are not in control of your tokens by Aug 3, 2020 9:00AM UTC you will not be able to claim any rewards which may be available during the rewards period and you will lose access to your rewards. No exceptions.

Community Update: Bankroll has been increased. Max profit now ~48 eth.

Just a quick community update – Etheroll and its ‘choose-your-own-odds’ dice game has been reinstated to its former balance, seeing an additional 3,843 ETH added to the bankroll for a total of 4,881 ETH.

This major increase allows players to realize a massive maximum profit of up to ~48 ETH on any one roll.

The update also returns the bankroll to its previous state, as it was before funds were migrated in order to update the contract with additional security hardening measures. As always, any profit above 5,000 ETH will be pulled during quarterly rewards periods for 100% distribution to DICE hodlers, as has previously been the case. So if you’d like to ‘bet on the house’ you can learn more about DICE tokens here.

This update comes as we continue our march towards running the game once again at full capacity (with plenty of dry powder available to increase our capacity to cater to high rollers in the future).

We would like to thank the community – our valuable DICE holders and players – for their patience during this period. Let’s roll!

Community Update: Bankroll has been increased to 1000 eth. Max profit now 10 eth.

Game contract has been updated and deployed to production after security hardening. Additional data added to the oracle query id is verified in the callback (which is also included in the TLSNotary proof) that makes it impossible for an attacker to swoop in on forked query ids and change the forked player target and/or bet value.

We are now working to substantially increase gas efficiency via a complete rewrite of our contract from Solidity v0.4.24 to the v0.6+ compiler. Early initial prototypes are seeing gas savings up to ~65% for the house(!) and up to ~50% for players, which will allow us to eventually offer lower minimum rolls (hopefully down to 0.05 eth). This is a big task. It will involve a couple months prototyping and another full round of security audits in order to be deployed.

Whilst this work continues, we will also explore additional RNG options, such as Chainlink’s VRF – however on paper, this option appears to be economically nonviable (each request costs 0.1 LINK), but is interesting enough to warrant further exploration.

Etheroll’s Wealth Week XII Is Now Closed. ÐICE Tokens Unlocked.

Wealth Week XII is now over with a total of 710 ETH claimed by our valued token holders over the past 7 days. ÐICE tokens are now unlocked and available once again for transfer.

A total of 130.88 ETH of the 840 total ETH payout remained unclaimed at the end of the rewards period – which translates to a 84.5% participation rate. 130.88 ETH is to be sent back into the bankroll as a top-up. This is one the highest participation rates to date and we are really happy to see DICE holders participate and claiming their well deserved ETH for holding DICE.

We now look towards Wealth Week XIII, which opens 12 weeks from today on 3rd August, 2020. Save the date in your calendar to ensure you can participate in the next round!

Unclaimed ETH from this epoch has been added to the bankroll and will be distributed pro-rata to ÐICE holders during Wealth Week XIII in 12 weeks time (when the bankroll is in profit).

If you attempted ÐICE transfers during the lock period which were unsuccessful due to the lock period, you can now submit those transactions again in order to move your ÐICE tokens.