Loteo, lottery lottery

pembangkang (7)in #bitcoin • 5 years ago

Hello to crypto lovers, I dedicate this article to talk about the Loteo project ( https://www.playloteo.com ). LOTEO is an automated digital lottery game that is run by code and not controlled by people. In the lottery, first weekly and then daily, a random Ethereum address from a group of users will be selected. The drawing will be based on a random number generation system that will have a publicly available code on GitHub, as well as on the Ethereum network. The winner will receive 75% of the prize fund as a reward, which will be sent to his address Ethereum. In the rest of this article, I will show you in detail the features of this fantastic project. Follow me!

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The Problem
Today, officially licensed lotteries can be found in almost half of the countries in the world. Although some governments limit or monopolize this form of interest rates, they are undoubtedly popular in many regions.

Trust always plays an important role in successful lotteries.

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Customers need to be sure that the draw is transparent, fair and random. Many scandals, both recent and past, have undermined the reputation of traditional centralized lotteries. Regular lotteries are not much better in this regard: in 2017, Eddie Tipton, a former information security officer of the American Lottery Association for Many States (MUSL), admitted that he manipulated a random number generator and compromised lottery draws in Iowa, Colorado, Wisconsin, Kansas and Oklahoma, the illegal gains of which before the seizure amounted to 2 million dollars. Therefore, how can you prevent the central part of doing "conspiracies" against users?

LOTEO solution is a fully automated lottery platform that uses blockchain and a smart contract to create a fully transparent lottery where your chances are incomparably higher than those of traditional lotteries.

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There are several problems with “classic” lotteries that have been overcome with the help of LOTEO.

The possibility of winning. Unlike regular lotteries, in which you bet against an unknown number of numbers drawn, in LOTEO you bet only against other purchased tickets, the amount of which is several thousand times less than the number of potential winning combinations in standard lotteries. Thanks to the blockchain, the system is transparent, and you can track all transactions. You have a chance to win every time a lottery is held, because you only bet against a certain number of participants.
Transparency. All transactions and prizes are visible on the blockchain at any time.
Trust. Managed by a smart contract, not by governments or individuals, the drawing process becomes automatic.
How does the lottery work with Loteo?
Users participate in the lottery by purchasing individual tickets for the weekly LOTEO lottery using the Ethereum cryptocurrency. Thus, every Ethereum wallet address that has acquired a registration is registered as a participant in the weekly lottery. Later, LOTEO will add a daily lottery regulated by the same rules. The LOTEO Weekly Lottery will be conducted on a smart contract using a certified random number generator (RNG). After selecting the winner of the lottery, unp smart cotnract will automatically send the prize to the appropriate Ethereum. All code will be publicly available on GitHub and Etherscan. The prize will be divided as follows:

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75% to the lottery winner
20% of LOT owners (each received prize will be redistributed between LOT owners, proportionally to the number of LOTS owned by each user)
1% is given to the charity chosen by the LOTEO community.
4% are reserved for affiliate programs.

How does the affiliate program work?
For the first ticket purchased by a registered user via an affiliate link, the partner will receive 50 LOTEU (service token) + 4% of the cost of each ticket purchased at ETH, and a new registered user will receive 100 LOTEU. Note: every 100 LOTEU (2 registered users) double the chances of winning. During a control sale of LOTEPASS, each affiliate partner can request 500 LOTEU and 4% of the cost of each ticket at ETH.

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The partner has the right to a remuneration for each sale of the LOTEOMAXX wholesale package. However, the bonus for the wholesale package (10, 20, 50, 100) can only be requested once per user per year. There are no restrictions on 4% of the cost of each ticket at ETH.

Economy of tokens
There will be 2 tokens:

Loteo Security (LOTES)
Loteo Utility (LOTEU).

The
LOTES security label is a security token that will be sold only as part of a private financing round (STO) to taxpayers accredited by venture funds. There will be no public sale. This token gives owners the opportunity to protect themselves from participating in the lottery without being present for an amount equal to 20% of the total value of each prize. Lots are blocked for 15 months, and during this period it is impossible to buy them or sell them elsewhere. After the first 15 months, another round of private sales will be held, during which LOTEO unlocks 30% of all tokens that will be sold to accredited partners. After the sale of these tokens, the token will be listed on various exchanges.

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LOTEU service token is a service token that will be used for marketing purposes. When you buy an additional entry in the lottery 100 LOTEU, double your chances of winning the lottery. Many drops of this token will be made directly to the community and through LOTEO marketing partners, and there will be many contests to be awarded to LOTEU. LOTEU tokens will also be distributed as part of campaigns for a reward in accordance with the LOTEO marketing plan and official announcements via communication channels. There is a long-term plan for future rates with LOTEU for the purposes of the B2B platform, which will be indicated before the start of the second round of project financing. The price of 1 LOTEU is not exactly indicated, as there are no sales,

I finish the article, considering Loteo a very interesting project. There are various lottery projects based on the blockchain on the market, but if Loteo fulfills the promises of the White Paper, this will undoubtedly become one of the leading projects. I remind you that the platform is already up and running, and you can participate in the lottery by going to the following address during registration!

Links to the official project resources:
Website: https://www.playloteo.com
WhitePaper: https://www.playloteo.com/documents/loteo-wp-en.pdf
Twitter: https://twitter.com/ loteomission
Instagram: https://www.instagram.com/loteomission/
Facebook: https://twitter.com/loteomission
Telegram: https://t.me/loteomission
LinkedIn: https://www.linkedin.com/company / loteo-net /
Reddit: https://www.reddit.com/user/LOTEO
YouTube: https://www.youtube.com/channel/UCveQW_4wrc-ZYCo0sac6exQ
Bitcoin talk (ANN): https://bitcointalk.org /index.php?topic=5116114