Q&A - find the answers to your questions here!

sp8de
update

#1

BASIC PROTOCOL :rocket:

What is it?
The basic protocol is an algorithm directly generating a random number.

When will it be finished?
It will be finished before July 15th 2018

Is this the MVP?
No, this is the most important part of the MVP though and needs three random numbers signed by private keys and it will generate a real random number for a particular game.


#2

MVP :rocket:

What is the MVP?
The MVP or Minimum Viable Product is an application that has only must-have features. It will be a web application and will be accessible through a browser anywhere in the world.

The web application will consist of:

  • Demo games
  • User/gaming provider account
  • API for integration of the protocol to the gaming provider app.
  • Generating random numbers algorithm
  • User library with all methods of API
  • Documentation

#3

When will the MVP be completed?

It is going according to plan and we are due to release it by the end of October 2018.


#4

Do you have any milestones?

June 2018 - Basic SP8DE protocol version: two-stage Shared Seed generation; verified random-base implementation.
July 2018 - User dashboard: Design app concept; User profile; API Integration library
August 2018 - Playground: Testing environment deployment; Website with demo games
September 2018 - QA: Integration with external systems; Protocol refinement
October 2018 - Protocol debugging. Documentation creating.


#5

How will it be tested?

Currently we have an agreement with one local gambling provider who has graciously agreed to provide the testing environment for us to test our protocol in real conditions. We will be working to increase the list of possible partners for testing.


#6

Will it be available for the public access?

The codebase will not be made entirely public as by doing so, we will destroy all the commercial value of the protocol as anyone will be able to copy it and use for their own purposes. We will only make the code public once it is patented. We will of course make sure that the community has firm reasons to believe that the codebase is being built and continuously expanded.


#7

BLOCKCHAIN :rocket:

Why does your protocol need a blockchain?

Blockchain technology is great for the storing of important information. Users can check whether the random number is really random. It provides transparency and fairness for both gambling providers and players. It also gives additional benefits that we will tell you about in the future as we continue our development.


#8

Where do you store data right now?

We are currently using the IPFS protocol (P2P file sharing system).


#9

When are you going to link to Cardano?

As of now, Cardano’s mainnet has launched however smart contracts and all other features are still in development. We are going to move to Cardano when they launch the smart contracts mainnet.


#10

WEBSITE :rocket:

When will there be a new website?

We will be rolling out our new website before the end of July. We have added a blog section where you can read all about SP8DE as we move forward. There will be a lot more information about our team and the project.


#11

What about localization?

We are going to add Russian, German, Spanish, Chinese and Portuguese languages. The whitepaper will be translated as well. If you have any suggestions or request for other languages please let us know.


#12

TOKEN :rocket:

What is the token utility?

Our token will play two roles in our business strategy:

  1. The token as a game currency: we are going to add several games to our MVP so that users can evaluate how the protocol works.
  2. The token as currency for the opportunity to use our generator: a gaming provider fills up their SPX account and purchases the subscription on using the RNG feature.

#13

What factors affect the token price?

The SPX token price depends on multiple factors that enter its price determination in accordance with different events and over time.

Specifically, organic growth will be observed once the SP8DE protocol is developed and deployed by online gaming providers as the use of the protocol requires use of SPX – for each call of randomness by the casino, SPX will be charged.

Another source of organic growth is in transactions - the more transactions completed, the more fees will have to be paid in SPX.

Additionally, inorganic growth is created by effective implementation of the marketing plan. This includes among others, community management that leads to happier and more “believers”; existing and new investor base; timely updates on protocol development; concluding partnerships; listing on new and large exchanges; keeping the web-site updated and attractive; creating videos and conference calls with advisors, co-founders, admins and partners on a regular basis and disseminating all of the aforementioned across all social media.


#14

Where can I buy SPX?

Currently our main exchange is Bleutrade. From June 26, 2018 SPX is also traded on LATOKEN. With significant trade volume and interest to promote SPX they are great partners, we are currently aspiring to widen the number of quality exchanges. We will notify you as soon as more become available.


#15

When will the token be available on big exchanges (Binance, Bittrex, etc.)?

To be listed at a big exchange we have to meet certain criteria.

  1. MVP availability. This will be released by the end of October 2018
  2. A loyal community. We appreciate your ongoing support, if you can recommend our project to your friends and colleagues, this will assist the project.

#16

What happened to KKCOIN and IDEX?

IDEX delisted many tokens including SPX. This decision was made without any prior notification causing great inconvenience to our investors. We have contacted IDEX for clarification but are yet to hear back from them. The SPX tokens you may have there can be withdrawn through ‘My Balance’.

Kkcoin doesn’t have a sufficient trade volume and doesn’t meet our own criteria as an exchange.


#17

When will the token price be 1$?

We are unable to advise you of this however the project was designed as long-term, so we recommend you hold it for several years as a minimum.

We have many insights on how to proceed after the MVP is developed. In filtering what’s beneficial and what is not, we have been ultimately driven by our users’ needs as well as token price considerations: it is one of the only most important quantitative and objective measures of the project’s success.


#18

FUTURE PLANS :rocket:

When will you be listed on CoinMarketCap?

It used to be very simple, you could just send a message to the CMC admins to request to be lisited. However times have changed due to many unviable and unscrupulous projects and rightly so. Now to be listed on CMC, we need to satisfy the following criteria:

  1. Volume needs to be $100,000 per day for 10 days.
  2. A loyal community. We are glad that you support us and if you can recommend our project to your friends and colleagues, again this will assist us all.

We can promise you that we will continue working hard to achieve this listing.


#19

Are you going to open your own casino?

We are still considering this and will confirm after our MVP delivery.


#20

Why do you think that casinos have any interest in your protocol?

We understand the market trends and the business needs, we have expertise in the gambling industry and have conducted extensive pre-launch market research. At the initial stages our product was gaining significant attention from the industry giants who in turn can get multiple benefits - from economical to reputational – by using SP8DE solutions. It’s a subject for a special publication and we will tell you more about it in July as we have our next development step completed.