EtherJack is a jackpot game, based in the Ethereum blockchain.
The rules are simple: there's a massive jackpot, and people are placing bids to claim it, within allowed time after the last bid. If no bid comes, the last to claim gets it. If bids keep coming, the jackpot grows further.
The game is 100% transparent and fair (thanks to the Ethereum Smart Contracts), and everything depends only on the participants, not on devs.
We are announcing the start of the game's ICO stage. This is the stage when the jackpot is formed, and JACK tokens (read more on them below) are distributed at much lower prices than during the game phase. The collected jackpot will attract players placing bids, and the JACK you get will help you get a cut of the bids. The game will also automatically sell your JACK to the new players at a growing price if you wish so.
This ICO is about selling stakes in the one-time big jackpot game. House always wins, so why not be the house?
What is the game?
After the ICO phase is over, the jackpot will have at least 333 ETH in it, and the game will start.
Players will be placing bids (starting with 0.01 ETH). Each bid claims the jackpot and starts a countdown timer. If nobody else places a bid before the timer runs out, the player to make the last bid gets the whole jackpot. This won?t happen so easily though, because someone else will want to place another bid and claim the jackpot for themselves instead, at the last moment. Someone else will place a bid to not let that second person win it, and so on.
The more bids are placed, the shorter is the countdown timer (3 hours down to 5 minutes), and the higher the bid price (0.01 ETH up to 0.1 ETH to 0.5 ETH and higher with no limit).
Check EtherJack.io to see a simulation of the game running, and read an illustrated version of the game rules.
The game is implemented as a smart contract with published source code. The source code of the JACK token is published as well.
Neither the developers nor the Croupier bot (off-chain component of the game) can affect the course of the game in any way other than available to everyone else, it can be verified in the contract code. More details on roles of the developers and Croupier can be found in the white paper.
EtherJack.io is a combination of game of good timing, patience, luck, and investment. Every participant has a very real chance to win the big chunk of Ether. Mathematically proven.
How do I participate?
Send Ether to the Jackpot address: 0xe64d5f33E28387855d33980719f27f0d579392aF, and the contract will send you back tokens. Make sure to set gas limit to 300,000, since Ethereum is sometimes underestimating the cost due to the complex logic. The actual consumption will be around 120,000 gas on average.
Track the JACK token to see it in your wallet. Address: 0xe64d5f33E28387855d33980719f27f0d579392aF; symbol: JACK; decimals: 0.
You can find detailed instructions for buying JACK and tracking JACK on the website, and also conveniently make the transactions via Metamask if you prefer.
During the ICO the price starts with 0.004 ETH per JACK. Once 10,000 tokens are sold, the price will change 0.005 ETH, and then gradually reach 0.006 ETH.
Once the game has started, the price will be 0.01 ETH and will grow up by 0.006 ETH with every 100 bids placed.
After 1000 bids (which is no later than 35 days from game start) JACK will cost 0.07 ETH, and after 5000 bids (67 days from start max) 0.31 ETH, and so on.
JACK holders can start selling JACK to new buyers through the game's smart contract from the start. Alternatively, they can start getting a cut from each bid made in the game, or both, or first deposit, and then when the prices have grown, sell them.