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Blockchain Lottery to End a 300 Billion USD Monopoly
The millennia-old lottery market is about to get disrupted worldwide. For ages, lotteries were never transparent and tended to be operated by monopolies, with their fees and commissions unclear. As were the lottery draws themselves. Jackpots values remained volatile and low.
SmartBillions is the first fully decentralized and transparent lottery managed by an Ethereum smart contract. All bets and results are public and recorded on the Ethereum blockchain without 3rd party involvement.
The recently-revealed SmartBillions PLAY tokens offering is a unique and secure investment opportunity. Finally, there’s the transparent “ICO” whereby Investors and their funds are protected like never before.
For the SmartBillions lottery ICO, the funds’ allocation to the Jackpot is crucial. The Jackpot value is the key to the Lottery success, and in the case of SmartBillions, 90 % of funds raised is allocated to the Jackpot. Only 10 % of the raised funds will be accessible to the Development Team. These funds will be spent on marketing activities aimed and driving interest and excitement upon potential users of the SmartBillions lottery. The Tokens allocation is fair and favourable for investors, as they will receive almost 80% of the Tokens issued.
SmartBillions ICO starts 16.10 and will last approximately 2 weeks.
Each PLAY Token will cost 0.001 ETH.
The SmartBillions PLAY token sales (ICO) goal is set at 200 000 ETH.
Here’s a quick summary of the upcoming ICO key features of the groundbreaking global lottery (est. Jackpot 2.5 billion USD).
- Token Allocation
Crowdsale backers will receive 79.37 % of all PLAY Tokens issued
The development team will receive 20.63 % of all PLAY Tokens issued
Tokens will be sent to the Crowdsale backers immediately receiving their funds
1 PLAY Token = 0.001 ETH
- Funds allocation
90 % of the raised sum will be allocated to the Jackpot.
10 % of the raised sum will be sent to the development team for the marketing budget and to the Affiliates to pay for the affiliate and bounty campaigns.
- Funds management
All funds are under smart contract administration and fund distribution rules are unalterable. The funds management scheme is presented below.
SmartBillions smart contract funds management:
a. Prior to the ICO:
Prior to the ICO, there are no funds stored in the smart contract. Exactly 14 days before the ICO is initialized, the development team will put 1 500 ETH into the smart contract to fund the Hackathon prize.
b. During the ICO:
Over the course of the ICO, the smart contract will collect ETH from Crowdsale backers, with 90 % of the sum remaining in the smart contract.
10 % of the raised sum will be send to the development team for the marketing budget and to the Affiliates to pay for the affiliate and bounty campaigns.
c. After the ICO:
Income from the ticket sales will be retained by the smart contract.
Prizes will be paid to the lottery winners via the smart contract
Token holders will receive dividends every month, 5 % of the value of the ticket sales every month will be assigned to the dividend fund.
Affiliates will receive 1 % from the ticket sales from the players using their affiliate links.
The development team will be allowed to withdraw 0.25 % of the Jackpot value every week for the marketing purposes. This is possible only if the overall Jackpot value is larger than the combined liabilities of potential redemptions of all PLAY Tokens in circulation as well as current unpaid lottery winnings
- Dividend payouts.
Token holders will receive a dividend every 16 384 Ethereum blocks (approx. 1 month apart). A fixed 5 % of all lottery income coming from ticket sales is unchangeably allocated to the dividend payout.
Payouts will be made directly from the smart contract balance, which is inaccessible to any of the parties. Ticket sale revenues, and th smart contract balance, are public and cannot be modified by any third party. Nobody can influence the dividend payout or its value.
- Downside protection — Token redemption possibility
Any time after the PLAY Token sale is complete, holders may redeem their Tokens and receive the majority of their invested funds back. Token holders will receive 71,43 % of the invested funds back if they redeem their Tokens. This feature reduces investors’ risk to a minimum in the event that the lottery’s performance falls below expectations or any unexpected events affect the lottery.
- Contract security — Hackathon
Exactly 14 days before the initial PLAY Token sales offering, the SmartBillions development team will allocate 1500 ETH to the Jackpot as a reward to anyone who proves they can hack the smart contract and withdraw the funds. This own-risk solution will indisputably validate the contract’s security.
- Lottery ticket sales — Distribution of funds
Between 94% and 95% of Ticket sales revenue will go directly toward the Jackpot. Another 5% is designated for PLAY Token holders’ dividend payments and the remaining amount (up to 1%) will go toward compensating the lottery’s affiliates.
This distribution of revenues from Ticket Sales guarantees the Jackpot’s continued growth and ensures that the SmartBillions lottery will consistently and dynamically rise in popularity.
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All the presented features summed up together prove the high value of the SmartBillions investment. The innovative character of both the SmartBillions lottery product and the process of the PLAY Tokens offering creates a secure investment framework never before seen in any “ICO” or token offering projects.