Fire Lotto is a revolutionary lottery that uses the Ethereum smart contracts to create a transparent and trustworthy system. The platform offers huge jackpots and fast payouts, greatly benefitting players on the platform.
Fire Lotto is a blockchain-based lottery platform that blends new-age technology with tried and tested conventional systems to create a familiar yet superior offering. The platform offers attractive payouts, with a whopping 70% of the funds collected from ticket sales being collected in a prize pool. The initial prize pool has a size of $1 million.
The Fire Lotto prize pool is not limited to $1 million and can soon increase by multiple folds, depending on the number of players buying tickets. If there is no winner the end of any draw, the prize pool will be rolled over to the next draw. It will continue until there is a winner. The platform adopts a transparent payout process and the use of Ethereum smart contracts eliminate the possibility of fraud.
All winnings will be paid almost instantaneously from the prize pool.
How it differs from Other Such Projects
The objective of this projective is to create a fair lottery, accessible to anyone in any part of the world. They will ensure that the prize pool is large, and the payouts are fast. The autonomous platform cryptographically stores all the data and records on a public, decentralized blockchain. It implements a Random Number Generation (RNG) method based on Bitcoin decentralized protocol to ensure fool-proof fair interaction on the platform.
Details of the Token Sale
The token sale will take place in several stages:
- The private presale started on December 15, 2017, and ended on January 15, 2018.
- The pre-ICO started from January 15, 2018, and will last until February 15, 2018.
- The ICO will be launched on March 15, 2018, and end on April 15, 2018.
100 million tokens are to be released by the developers. Of this, 77 million will be offered at the ICO.
Important Facts about the Lottery
- It is a decentralized platform will everything based on ETH smart contracts
- It will start with 4 lottery games
- Winnings are paid automatically after every draw
- The starting price for lottery tickets is $2
- More lottery games will be added in future
- The token symbol is FLOT
How does it Work?
To participate, users can choose the “draw lottery” or the “instant lottery”. The instant lottery is a wheel of fortune that that has 21 numbers. Bets range from 0.007 ETH upward with coefficients ranging from 2 to 20. If the player guesses correctly, the bet will be multiplied by the chosen coefficient.
For draw lottery, there are three types — 5 of 36, 4 of 20, and 6 of 45. Players will get to pick one, buy a ticket, and guess the numbers. The draws take place every 6 hours. The winnings are based on the numbers guessed correctly.
More information about Fire Lotto and its ongoing crowdsale is available at – https://firelotto.io/
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