Hi all, I have an idea for a new type of no-loss lottery, after seeing the staking no-loss lottery ones, I could see some problems like a loss on volatility, or in the case of stablecoins pool, an advantage for whales to win.
In my idea, everyone has the same chance, you can buy only one ticket per lottery that is raffled 3 times, so you got 3 chances to hit the jackpot, also it receives in stable coin 50% of the ticket value on each raffle win, on a total of 3 raffles you earn 150% back of your initial investment, nothing deters you to play more tickets with other wallet accounts, but this will only benefit all players involved, as each ticket bought activates the lottery draw while putting more capital for the jackpot:
There will be a special lottery with a prize in MATIC, with the prize for the raffle being 40% back, so 120% back on your total investment, where 10% is used to buy LINK tokens and sended
directly to smart contracts for self-sustainability and additional capital for other lotteries. To incentivize betting on this lottery, the prize will be bigger and you will have more chances to win, with less competition and more numbers in your ticket (4 numbers) in the contrast to the normal 2 numbers for BTC and KRSTM lotteries and 3 numbers for ETH lottery.
There will be auto-spin draws after certain rules are met like a number of players and jackpot accumulation, so it will not be dependent on new ticket buys, the lottery will be running even if not coming new players and raffle prizes will come from jackpot sells, it will be done decentralized by users that run the function on certain times, like every 5 minutes for BTC lottery, and 15 minutes for ETH lottery, etc, these users will receive some incentive in USDC to do so, also coming from Jackpot sells.
To be eligible for rewards, users need to hold 1 or more of the 250 NFTnodes , these NFTs will be minted by locking 10 KRSTM tokens, they are the key token and needed to be staked on the NFTnode configuration smart contract to join the queue.
The nodes are paid randomly based on a active queue in one by one, and goes to the waiting queue after a sucessfull execution, after all the active nft nodes are paid, the queue resets.
This idea is non-dependant on token success, it works independently and decentralized, but I think in some ways of instead in getting revenue for me, to distribute to token holders of an ecosystem, for the sake of decentralized distribution of revenues for decades to come.
For that, the LP incentive will come from a 0.5% fee on each ticket bought, it will accumulate over a period of 1 month, send directly to the pool contract, and calculated automatically for distribution per block on each month, users have to stake for a minimum time of 15 days or will pay a 10% fee on withdraw, all fees will go to burn address for permanent liquidity. This pool will give permanent incentive with real revenue to liquidity providers to provide liquidity to KRSTM and new utilities can be developed backed by strong liquidity.
Also KRSTM holders will have 30% discount on tickets , when holding more than 5 KRSTMs.
A synthetics platform is planned to use this platform to over collaterize its collateral and use KRSTM reserves bringing constant action to the lottery and buy pressure to KRSTM token on jackpot winnings, more of it in next posts. Thank you.
