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  • FireLotto Blockchain International Lottery! ICO

    FIRELOTTO

    • A lottery game built on the Ethereum blockchain will be a major innovation in the global lottery industry. The lottery industry holds a 29% share of the global gambling revenue [1], and is facing challenges due to the growth of the digital economy. Worldwide demand for more transparent, fair services has grown concurrent with the advance of technologies that enable the change. The distributed, decentralized nature of blockchain technology offers tremendous opportunities for financial technology innovation, and, similarly, for gaming industry modernization.
    • A gaming system built based on the use of the Ethereum blockchain would operate with a high degree of autonomy, and its data and records would be cryptographically stored in a public, decentralized blockchain. Available online and borderless, such a system can resolve several challenges of traditional lotteries.
    • The proposed lottery will employ the random number generation (RNG) method, which is secure and fair and prevents manipulation and fraud. This project implements a completely secure RNG method based on the current version of the Bitcoin decentralized protocol.

    HOW THE BLOCK CHAIN FIRE LOTTO WORKS
    • We have built a completely transparent and fully decentralized platform for organizing and conducting a lottery using the blockchain technology and ETH smart contracts for collecting and distributing funds, drawing winning numbers in a random fashion, and paying lottery tickets sales commission to token holders.
    • The prize pool of the Fire Lotto lottery is formed from 70% of the funds collected from ticket sales. The minimum size of a guaranteed jackpot is fixed—1000 ETH (~ USD 1,000,000) for the 6/45 lottery.[*] If nobody wins the main prize in a drawing, it will be rolled over to the next drawing and increased. The jackpot will keep growing until it finds its winner.
    • There will be five prize categories with a different prize depending on how accurately the player predicts lottery numbers. All categories starting from 2 will be calculated as percentages of the prize pool. If several winners win the jackpot in one drawing, it will be split between them.
    • We will offer two types of lotteries: instant lotteries and draw lotteries
    • The Roger’s Wheel instant lottery is a mix between the traditional wheel of fortune and a slot machine. In this game, players can place bets ranging from 0,003 ETH (~USD 2.00) to 1 ETH (~USD 1,000.00) [*] and choose a payout rate from 2 to 20, which will be used to multiply their winnings. Next, the player spins the wheel divided into 21 sectors with different payout rates on them. If the wheel stops at the player’s chosen rate, he or she will instantly have the winnings (the bet multiplied by the payout rate) transferred to their cryptocurrency wallet. The player can turn an unlimited number of Page 5 wheels in one game, which reduces the waiting time and increases the number of tickets bought by the player. The wheel rotates for 20–30 seconds. The randomness of the game is ensured by ETH blockchain-based RNG. Its description will be given later in the text. 

     

    • On average, 5-6% of the value of bets made is kept by the system.
    • We offer three types of draw lotteries: 4/20, 5/36, and 6/45. Our platform allows for the addition of new types of lotteries in the future. The player enters the lottery site with a traditional and user-friendly interface, where he or she can buy almost an unlimited number of lottery tickets and choose numbers for each ticket. Tickets are bought in one click through the user’s cryptocurrency wallet. An Ethereum transaction goes to the smart contract of the chosen lottery, contributing to the prize pool. 70% of all lottery ticket sales are allocated to the prize pool. Table 1 shows data on the distribution of lottery funds.

     

     

    How many ICO tokens will be issued?

    • A total of 100,000,000 tokens will be issued.

    How much will one ICO token cost?

    • 15 March 12.00 UTC - 21 March 12.00 UTC - 0.50 $
    • 21 March 12.00 UTC - 27 March 12.00 UTC - 0.60 $
    • 27 March 12.00 UTC - 2 April 12.00 UTC - 0.70 $
    • 02 April 12.00 UTC - 08 April 12.00 UTC- 0.80 $
    • 08 April 12.00 UTC - 15 April 12.00 UTC - 0.90 $
    • During the pre-ICO (private round), one token was sold for USD 0.38.

     

     

     

     

    Do you still have questions?

     

    For more information, visit :

    Website : https://firelotto.io
    Whitepaper : https://firelotto.io/whitepaper_en.pdf
    Facebook: https://facebook.com/firelotto
    Twitter: https://twitter.com/FireLottery
    Telegram: https://t.me/firelottery

    Medium: https://medium.com/@FireLottery

     

    BitcoinTalk ANN : https://bitcointalk.org/index.php?topic=2579275.0

    BitcoinTalk Bounty : https://bitcointalk.org/index.php?topic=2654429.0

     

    Written by: VIJAY
    Btalk profile: https://bitcointalk.org/index.php?action=profile;u=994315
    Donation

    ETH Address : 0x6080BE5e13e3A017B9e477BE59F0cE020f841568

     

     

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