Raffle Lottery Game
Last updated
Last updated
Degen LP is an innovative platform that hosts an exciting raffle-style lottery pool, where participants' chances of winning are directly related to the amount of money they contribute. The lottery pool is automated and runs every 12 hours, with payouts distributed promptly upon completion. The platform exclusively uses USDC as its currency, both for placing bets and claiming fees.
Participants can enter the raffle with a minimum of 1 USDC and a maximum of 500 USDC, although these limits may be subject to change based on platform governance. While there are currently no plans to develop a fungible token, the possibility remains open for future consideration.
Degen LP offers a single raffle pool that concludes every 12 hours, creating a sense of anticipation and excitement. Users can monitor their positions in real-time and observe how their chances are affected as others join the pool, enabling them to adjust their holdings accordingly. The platform generates revenue through transaction fees, with 90% of the fees collected being distributed among the project's NFT holders. This information will be publicly available for complete transparency. By offering a unique and thrilling raffle experience, Degen LP is set to become an enticing destination for players seeking a dynamic and engaging lottery platform.
Person A enters pool with 1 USDC = 1 Ticket
Person B enters pool with 4 USDC = 4 Tickets
Person C enters pool with 5 USDC = 5 Tickets
Person D enters pool with 10 USD = 10 Tickets
Total Tickets: 20 tickets
Person A has a 1/20 or 5% of winning 20 USDC and is assigned the number range "0"
Person B has a 4/20 or 20% of winning 20 USDC and is assigned the number range "1,2,3,4"
Person C has a 5/20 or 25% of winning 20 USDC and is assigned the number range "5,6,7,8,9"
Person D has a 10/20 or 50% of winning 20 USDC and is assigned the number range "10,...,19"
Using the example above, if the Chainlink VRF produced the number: 5, Person C is the winner of the raffle-lottery as the number 5 falls within his winning range.
Degen LP uses Chainlink's VRF (Verifiable Randomness Function)
The use of Chainlink's VRF simply draws a verifiably random number from the dataset x = 0,..,19. The individual who owns the ticket produced by the VRF is the winner.
The user experience on the platform will be seamless and easy to navigate, with a clear and intuitive interface.
Users will connect a supported wallet to the DLP DApp
Once connected, users can view the current pool and entrants data, place bets, and check their own odds based on the amount they wish to enter.
Users can see in real-time how their position is being diluted as people enter the pool and can adjust their holdings accordingly.
Users can view their account balance and transaction history directly from their wallet.
The platform will have a web interface where users can view the current pools and their odds of winning, as well as place bets and check their own odds.
The platform will accessible via web with a Metamask wallet.
The user interface will be easy to navigate and understand, providing a seamless user experience.
The platform will provide real-time information and updates
The platform will have wireframes and mockups for the web and mobile application interfaces to provide a clear visual representation of the user experience.
The wireframes and mockups will also include interactive elements, such as buttons and a slider, to provide a clear understanding of the user's interactions with the platform.
The platform's user interface will be designed with the user in mind, ensuring that the platform is easy to navigate and understand. The platform will provide real-time information and updates on the pools, ensuring that the users are always aware of their chances of winning.
The DApp features links above that link to the social, community, documentation and in the future, NFT sale links where offical Degen LP links are hosted. They are available at "General Information".
Our DApp is currently using the lottery contract: 0x31999a3d3dea2f043CB6EDc4f8348c786Fefe1B4
Draw ID: x = { 1 , 2 , . . . , n } where n is a number from 1 - ∞
Expiry: 12 hour countdown timer (unless stated otherwise). Expires at 0:00:00:00
Pool Total: Total funds in pool in USDC
Entrants: Total number of wallet addresses in the pool
Last Winner: Hover over to see full wallet details
Amount: Total funds in prizepool in USDC
Left & Right buttons: View previous winners of the Degen LP lottery
As we know
1) There is no cap to the limit of people who can join per pool
2) There is no cap to the limit people can allocate to each pool
3) The sum of % win of all entrants will be 100%
4) Total Stake will be equal to "Pool Total" above
To enter the pool, click a preselected amount or slide the slider bar to enter an amount that is comfortable for you. After, click "Enter Pool". You will receive 2 metamask prompts to "Approve" then to "Submit" your USDC into the pool.
