Decentra-Lotto DAPP Launch
We officially went live on the 10th November 2021 9PM UTC!
After months of building, deliberating & testing our lottery and staking platform is ready to be unleashed. Built from the ground up with the aim to incorporate every detail to give the user an exciting experience that’s easy to use.
To play & win the jackpot all you need to do is enter the dApp & buy your tickets for $10 each. You can purchase them using either BNB, BUSD, DAI or USDT. There will be bulk discounts on the more you buy. Note that the more tickets you have the higher your chance of winning.
5 tickets = 5% discount
10 tickets = 10% discount
20 tickets = 20% discount
Every time a user buys a ticket, they will receive 10% of their purchase back as DELO at the market rate at the time of purchasing. This is considered a small hedge to ensure everyone is a winner.
That’s right, when you buy a ticket you also receive some of the token!
There can be multiple winners of the lotto jackpot. The 1st winner receives 50% of the total pot. The 2nd winner receives 25%, the 3rd receives 12.5% and so on until the jackpot is less than the price of 1 ticket (the minimum win amount). This ensures that every ticket has a higher chance of winning something.
When you win you’ll see a pop up window detailing how much you have won in $DELO & the equivalent dollar value. Don’t forget to share your win with the twitter link provided to share your success & what we’re all about!
Once the lottery deadline has passed, anyone can end the draw (decentralised), triggering Chainlink to randomly generate a number which the contract uses to draw the winners. (more on this in our chainlink article)
The lotto draws will happen on a weekly basis, use the dApp & website to see when the next draw will happen.
At the end of a draw, 2.5% of the DELO jackpot will be swapped for BNB, paired with another 2.5% of the DELO jackpot and added to liquidity on PancakeSwap.
TICKET COST BREAKDOWN
The proceeds from every ticket sale are used to purchase the DELO token and distribute it as follows:
20% of every ticket purchase is divided amongst all stakers. All holders of DELO can stake the token in the dApp to earn this fee.
10% of every ticket purchase is returned to the purchaser, ensuring everyone is a winner.
10% of every transaction is kept securely, to be sent back in to the lottery jackpot at a later date to boost the jackpot for a mega-draw.
60% of every transaction is added to the current draw jackpot.
A Sustainable Economy. Staking in Decentra-lotto is done a little bit differently. Whereas many staking platforms implement an inflationary rewards system AKA minting, Decentra-lotto implements a deflationary or no-minting staking rewards system.
What this means is that there can never be new tokens minted ensuring the $DELO token value rises in price instead of falling, resulting in a sustainable rewards model. This is the reason why the APR cannot be calculated — it is variable as it is fully dependent on ticket sales & un-staking fees instead of minting at a predetermined rate. This has the added effect of encouraging stakers to promote lottery ticket sales, as that is the main source for staking rewards, incentivising users to work towards the same goals — the long term success of the platform.
Every time a user un-stakes, a 2% fee is incurred and distributed to all stakeholders. Any time a lottery ticket is bought, 20% of the ticket sale is also distributed to all stakeholders.
Every time this happens, it is called a “Round”. A “round” is a term used to describe a rewards distribution event. You can see the current round in the dApp and watch as it increases in real-time as stakeholders are rewarded.
The Decentra-Lotto lottery platform will launch on 10th November 9pm UK time.
There will be a voice chat with the dev and the team for the hour running up to launch. Come along and meet the team.
STILL TO COME:
Many upgrades & announcements will follow in the coming weeks from pools to mega draws. Stay connected to us on twitter to get the latest info when it’s released. Not to mention the rest of the ecosystem.
🔒 Liquidity is locked for 100 years: https://app.unicrypt.network/amm/pancake-v2/pair/0xc989c0e5d5035e689c129868944db9e091690875
🧾 Certik Audit Completed and Skynet Enabled: https://www.certik.org/projects/decentra
🧾 Solidity.Finance (https://solidity.finance/) Audit Complete: https://solidity.finance/audits/DecentraLotto/
📰 Featured on Yahoo Finance: https://finance.yahoo.com/news/decentra-lotto-decentralized-cryptocurrency-lottery-124400331.html
📺 Reviewed on YouTube: https://www.youtube.com/watch?v=5l6MdBmv08s
🖥 Live Lottery & Staking dApp Demo: https://www.youtube.com/watch?v=Zhx6H9pnW4A&
⚙️ TestNet to use right now: https://testnet.decentra-lotto.com/
🖥 Web: https://www.decentra-lotto.com/
🌐 Ecosystem: https://www.decentra-ecosystem.com/
✍️ Medium: https://decentra-lotto.medium.com (https://decentra-lotto.medium.com/)
📒 Docs: https://docs.decentra-lotto.com/