The first service offered by the ethernL platform will be a lottery on the BNB Smart Chain Network, using the BUSD token as means of payment and compensation.
How will it work?
The lottery will start everyday at 7 pm UTC and there will be one draw everyday at 6:55 pm UTC. In the time that the lottery is open, everyone will be able to purchase one or more tickets to the lottery.
The price of one ticket will be always 5 BUSD (~5 US Dollars), buying more tickets will unlock a progressive discount (more tickets = bigger discount).
After the draw the lottery will become claimable and every user that has matched one or more numbers in the correct order will be able to claim their share of the prize fund.
Winning Criteria
Matching one/more numbers in the correct order makes you a winner in your bracket. Matching one number in the correct order will make you a winner in the first bracket, match the first two numbers in the correct order will make you a winner in the second bracket, and so on.
It is very important to note that prize brackets do not stack. If you match the first three numbers correctly, this will make you a winner for the third bracket, you will not receive the prizes for the second and first bracket.
Below you have an example of a lottery draw, with two tickets A and B:
● Ticket A: The first 3 digits and the last 2 digits match, but the 4th digit is wrong, so this ticket only wins a “Match first 3” prize.
● Ticket B: Even though the last 5 digits match, the first digit is wrong, so this ticket doesn’t win a prize.
Prize Funds
The prize fund for the lottery comes from three different sources:
● Ticket Purchases:
100% of the BUSD paid by people buying tickets that round goes back into the prize pools.
● Rollover Prizes:
After every round, if nobody wins in one of the prize brackets, the unclaimed BUSD for that bracket rolls over into the next round and are redistributed among the prize pools.
● BUSD Injections:
A percentage of the fee will be reinjected in the lottery in round.
Prize Allocation
The prize for each bracket is split between all the winning tickets from that bracket. Below you have a chart of the Prize Pool Allocation per Bracket.
● Match first 1: 2% of the Prize Pool
● Match first 2: 3% of the Prize Pool
● Match first 3: 5% of the Prize Pool
● Match first 4: 15% of the Prize Pool
● Match first 5: 25% of the Prize Pool
● Match All: 50% of the Prize Pool
● Fee: 1% of the Prize Pool
Conclusion:
Now you know how the ethernL BUSD Lottery works, we are waiting for you to try your luck a the big prize.
Keep up with us:
Website: https://ethernl.com
Twitter: @ethernLCrypto
Instagram: @ethernlcrypto
Telegram: https://t.me/ethernL
Github: https://github.com/ethernLCrypto
