UltraYOLO Ico Review

UltraYOLO Ico Review – Crypto Lottery

About UltraYOLO

UltraYOLO project is a decentralized lottery protocol built with blockchain technology. The primary mission of this project is to create a platform to manage and run the world’s largest international lottery. UltraYOLO project introduces Proof-of-Randomness (PoR), which solves the issue of random number generation and miner attacks that plague existing lottery and gaming applications. A company protocol will involve a master node network to ensure Proof-of-Randomness and to manage the health of the network as a DAO.

As UltraYOLO project matures, the DAO governance model for YOLO token holders should advance to a state of self regulation. The DAO model provides the organizational structure needed to determine rules and regulations of the lottery. On a technical level, the YOLO token provides the utility to run our Proof-of-Randomness with a percentage of the lottery profits used as incentive for running the network.

UltraYOLO Key Information

KeyPoints
Token NameUltraYOLO
ICO start25th Sep 2017
ICO end10th Oct 2017
Distributed in ICO60%
Average price0.35 USD
CountryUSA
AcceptingETH, BTC, LTC, XLM
Token SymbolYOLO
Token TypeERC20
RaisedUnknown
PlatformEthereum
Price in ICO1 YOLO = 0.000005 ETH
WhitepaperClick Here For View Whitepaper
WebsiteClick Here For Visit ICO Homepage

Technology

UltraYOLO introduces “Proof-of-Randomness” (PoR) which is a random-number-generating consensus built into the protocol level using BLS signature schemes. This new lottery protocol provides fast transaction speeds, low fees, and most important – provably random numbers for the lottery. The random number is secured by a network of master nodes that keep the network secure.

Ticket sales

UltraYOLO will seek to raise approximately 10,000 ETH approximately US$ 10,000,000 to finance the initial jackpot, technology development, and marketing costs. A tokens (YOLO) will be issued at a rate of 200,000 YOLO : 1 ETH, pegging each YOLO token at approximately US$ 0.005. The primary utility of YOLO tokens will be DAO governance and for distribution of lottery jackpot to winners. In addition, YOLO token holders will receive a percentage of all weekly ticket sales. There is no contribution minimum, but they recommend buying at least $100 of tokens (25,000 YOLO).

What is the UltraYOLO project?

UltraYOLO project is a decentralized lottery protocol built with blockchain technology. The primary mission for this project is to create a platform to manage and run the world’s largest international lottery. A company project introduces Proof-of-Randomness (PoR), which solves the issue of random number generation and miner attacks that plague existing lottery and gaming applications. A company protocol will involve a master node network to ensure Proof-of-Randomness and to manage the health of the network as a DAO.

What are YOLO tokens?

The primary utility of YOLO will be to run the lottery and for the distribution of funds to lottery winners and master node operators. YOLO coin holders who have master nodes will be able to receive a percentage of all weekly ticket sales in return for running the lottery system. YOLO will be a native coin to the UltraYOLO blockchain. YOLO will be first distributed as an ERC-20 token on the Ethereum blockchain, and will be ported over once the new blockchain is live. Users will be able to redeem the new YOLO coin using their ERC-20 tokens. This operation is much like the EOS token redemption process or any other blockchain that had their Initial Token Generation event on Ethereum.

How does the lottery work?

The lottery will be a weekly lottery. The current implementation is run on the Ethereum network as a proof of concept. The UltraYOLO lottery has the goal to be the most widely adopted lottery, and the initial lottery parameters favor a higher winning percentage at the cost of a smaller jackpot in order to build a consistent player base. The prizes range from $4 – $1M and each ticket has almost a 20% chance of winning. An initial investment of $1 is likely to turn into $4 or even $1 million.

How do you plan on getting users?

The UltraYOLO project has a very experienced marketing team. This technologies are main objectives post ICO will be to get as many users as possible to build up the network effects. This main effort will be to develop a team of strong affiliates to bring in large levels of prospective players. The marketing team has a high level of experience with direct marketing, affiliate marketing, influencer marketing, and large scale media buys. Expect to see ads on top sites.