The users of Eristica will get the opportunity to create completely different types of challenges, including competitions in online games, offline bets, as well as mass competitions, which is a unique advantage of the project.
One other great feature of the platform is the freedom afforded to users when it comes to choosing the number of participants and members. There may be one-vs-one, one-vs-many and mass competitions. At the heart of this project is the ability to digitize the industry coupled with democratization and unification of all business processes in the platform.
The platform brings offline challenges to online with the help of a user-friendly interface. Challenges will be created according to a set of uniform rules while the terms of the bet will be confirmed in a smart contract and executed automatically.
Financial indicators and fees in the industry of Bets and Challenges are not uniform and sometimes the disparity can be exorbitant. Bets are usually subject to bookmaker or intermediator firms meaning that the fees can rise up to 20%. For example, platforms with challenges among young people charge a 10% fee while online and eSports competitions charge 5-10%. That said, Eristica sets a single bet for all types of bets, challenges, and competitions, that is 3%. This is bound to become a standard in the industry and create a flow of customers from more expensive platforms.
The project was started as an idea in 2014. It was at the time, when Nikita Akimov, the founder of Eristica, began working on the prototype of the application, forming the team and experimenting in the search for the best way to interact with the challenge community. In 2015, the first public version of the Eristica application became available for download on Google Play and iTunes. In August 2016, the project took part in the startup competition held by Winter Capital venture fund and the McKinsey & Company consulting company. The Eristica team shared the first place with two other projects, winning the prize of $75,000. This was the first major recognition of the project.This is the same year that the project started growing in popularity reaching 500,000 users. At the beginning of 2017, the Eristica team focused on rapidly developing region of Southeast Asia and India which is known for high demand for local entertainment content. That was one of the reasons why Eristica was invited to participate in the acceleration program of the startup Mobile Only Accelerator (MOX), managed by the SOSV fund. This market became both an opportunity and a technological challenge for Eristica.
The application was rebuild to work in the area with low speed Internet:
● The size of the application was reduced to 7mb
● Phone RAM consumption was decreased
● Eristica app was optimized work in zone of 2G internet In the middle of 2017, the project team successfully completed the program in SOSV accelerator, which is one of the largest venture capital fund in the world. SOSV fund ranks first in “Investments in the early stages” rating13, ahead of other top giants like YCombinator and 500 Startups.
SOSV helped to get deals with major electronics manufacturers (OEMs) concerning pre-installing the Eristica application on new smartphones sold countries like India, Indonesia, Thailand, the Philippines, and Russia.
Eristica Utility tokens- Eristica token belongs to Utility token class, and it isn’t regulated by SEC (Estimation as regards to Howey test = 19)
Fundraising limits- Hard cap: $10.000.000
ICO start dates- Pre-sale of tokens — September 1, 2017 Main ICO start — December 7, 2017
ICO closing dates- ICO closing — February 7, 2018
Duration of ICO- Pre-sale stage: 45 days Main sale stage: 22 days
Terms of ICO termination- ICO will be closed, subject to fulfillment of one of the terms, namely: Hard Cap or ICO termination date is reached.
Total number of tokens- 687.575.392 of ERT tokens will be issued under the smart contract at the date of ICO start. All the tokens that won’t be sold will be burnt after ICO.
Additional issue\mining- Under the terms of the smart contract, tokens can’t be additionally issued
Base price for a token- 1 ERT = $0.02 USD
Currencies approved for payment- BTС ETH LTC BCH