🍀Lotteries

Blockchain lottery mechanisms are governed by six pillars that fill gaps left by conventional lotteries. Based on these criteria, we can foresee a promising future for the newest way to elect democracy to access decentralized and reliable financial instruments.

Transparent

Random and auditable draws thanks to the Chainlink Verifiable Random Function (VRF) an industry-standard random number generator (RNG) solution for smart contracts and off-chain systems that require a cryptographically secure, transparent and provably fair source of randomness.

Chainlink VRF has fulfilled over three million request transactions and currently provides verifiable randomness for over 2,300 unique smart contracts across multiple blockchain networks including Ethereum, Polygon and Binance Smart Chain. Using an advanced cryptographic compromise scheme, Chainlink VRF provides dApps with tamper-proof chained randomness to help protect NFT minting and attribution, drive fair results in blockchain-based gaming, and enable a wide range of use cases. in Defi, DAO governance and more.

Accessibility

Conventional lotteries have a regional focus and by being regulated and organized by different countries, they cannot occur together to award larger sums of prizes and reach more people. The blockchain lottery has worldwide coverage, as anyone with internet access and some experience with cryptocurrencies can easily compete for weekly prizes.

Lower cost

As it is an autonomous technology and with practically zero operating costs, a low burden affects users of the blockchain lottery. Furthermore, taxes and fees only occur when users convert their amounts into Fiat currency, which will be subject to taxes deriving from the country of origin.

Most of the revenue from conventional lotteries is directed to increasing the revenues of the states that regulate them, while the blockchain lottery distributes the collection to all promoters and supporters of the ecosystem.

Anonymous

As it is a platform that collects and distributes crypto-assets, lottery users do not need to identify themselves to participate, not even to collect their prizes.

Guarantee

Only in the United States, US$ 800 million in prizes are unclaimed every year. A large part of conventional lottery players forget to check their winning tickets and this is a reality all over the world.

Blockchain lottery players have a prize model that ensures the delivery of prizes to winners, as a common practice of web3 solutions, all user information is linked to their wallet, making winning participants easily identifiable and sending remittances in an automated and unbureaucratized way.

Distribution of Incentives

A pool of blockchain lottery fees will be distributed among LTT stakers as a form of passive income distribution, with the aim of sharing the value gain obtained from the lottery products and real ownership over the ecosystem to project supporters.