What Is Lotto (LOTTO)? Complete Guide Review About Lotto.

What Is Lotto (LOTTO)?

What Is Lotto (LOTTO)?

The lottery is currently on hold as we are migrating to Avalanche (AVAX) and expanding the project in the process with governance, user-made lotteries, a new GAME token and more. There will also be another large airdrop for current Lotto holders on ETH & BSC, as well as for some AVAX users, so you’re welcome to grab LOTTO now and receive a big airdrop during launch time. Follow your socials for up-to-the-minute details.

Lotto was distributed for free via airdrop, and can be claimed by DeFi token holders in the Claim Portal. The full list of eligibility requirements can be seen in the portal as well. In addition, LOTTO iis available on Uniswap, Bilaxy, and will be listed on several other centralized exchanges in the future.

Lotto Storage Key Points

Coin BasicInformation
Coin NameLotto
Short NameLOTTO
Circulating Supply2.00B LOTTO
Total Supply2,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

How LOTTO works

Twice per week, tokens are automatically removed from all user wallets, pooled together, and given to one user at random. Simply hold Lotto to enter- the lottery is coded into the token itself. If you’re eligible, claim tokens from the airdrop or get them on an exchange like Uniswap. The entry price will start at 10.

After some time, they will deploy a smart contract upgrade that will fully decentralize the entry price, tethering it to 1 USD based on a moving price average of several days. If you’d like to increase your chances of winning the lottery, you may split your Lotto into multiple accounts, so long as you have enough tokens in each account to cover the entry price.

Wait For Lottery

Lotto holders will have the entry fee automatically deducted from their wallets through unique start Game() function and Balance Shift (B-Shift) protocol. No action is required from users in order to participate- simply hold in your wallet. After the initial deployment and “experimental” period, where will be testing various parameters to see what works best will move towards 100% decentralization.

Community governance will be established, and the community will collect a small fee from the lottery to help pay for the gas costs of calling start Game each week. Anyone can call the start Game() function in the smart contract to start the lottery after 6 days and 23 hours has passed, so the lottery will run immutably once deployed.

The Immutable World Lottery

Welcome to the world lottery of the future. This is the only lottery system built directly into an Ethereum token- the token IS the lottery. Unlike a traditional lottery where players have to continuously buy tickets for every drawing, Lotto focuses on simplicity- just acquire the token, hold, and you’ll automatically be entered into the lottery each week.

The function start Game() will be called twice per week- every Tuesday and Friday at 8 PM EST. This will run the lottery function, which takes 5 from all users balances, pools it together, and distributes it to one user at random. The user does not need to do anything to participate in the lottery besides hold in their wallet.

A Decentralized & Cross-Border Lottery Game

Lotto is immutable, meaning that the lottery will run continuously and no third party can stop it from occurring. After the time lock period has passed, anyone can call the start Game() function to commence the lottery. Once started, the Balance Shift (B-Shift) protocol produces a provably-fair winner using an oracle service called Provable and then shifts user balances so that the winner receives all of the from participants. The winner receives 90% of the for the lottery, while the remaining 10% is distributed to the user who calls start Game(). This provides an incentive for the lottery to be called and covers the gas fees for the transaction as well.