Lottery is a Lottery system where users can earn profits in a fair system.
Lottery can be created and participated in by users and monetized through the Lottery Contract feature.
Owners can set the maximum amount raised, currency type, draw period, and number of winners to create different amounts and winners to make it more exciting.
There are two ways to run a Lottery: an official Lottery provided by Generation and a Lottery that can be run by a Group Channel Owner.
- A Lottery Contract is created that all users using Timelockers can participate in.
- During the participation period, users can participate in the Lottery by paying a specified type of token as a participation Fee.
- Participants can enter the Lottery multiple times before the closing date, and their chances of winning increase with the number of tickets they receive.
- After the Lottery closes, any additional prizes provided by Generation will be sent to the Lottery Contract. The Lottery is conducted using the Chainlink VRF.
- Winners receive their winnings minus a 2% Fee, which is sent to the wallet they used to participate in the Lottery.
- Channel owners can create a Lottery Contract that only users who have joined the channel can participate in.
- The Channel Lottery can be set up and operated by the Channel Owner, including the drawing period, funding amount, currency type, and number of winners.
- Winners are selected using the Chainlink VRF.
- Of the 2% Fee revenue generated by the Channel Lottery, 90% is distributed as revenue to the Owner who created the Lottery.
Lottery Escrow Fee: 2%