RAFL (RFL) - Online Raffles Platform
RAFL is an online raffle platform utilizing Ethereum smart contracts. Raffle is a lottery in which a number of persons buy chances to win a prize. RAFL is a new concept to the internet, they aim to change the way people buy and sell goods on the internet. They also aim to capture a small yet lucrative section of the online gambling market.
How Does It Works
- A user can participate in a raffle and have a change of winning an item at a fraction of the cost
- A user can host a raffle and earn the maximum amount for the item they wish to sell
Example:
A watch worth $5,000 sells 250 tickets at $20 each. The raffle winner gets a watch with a value of $5,000 for $20. The platform keeps 1% ($50) and the seller keeps 99% ($4950).
Benefits of RFL Token
- 100% of RAFL's profit will be allocated to RFL token holders, they will be paid in ETH.
- The token is also used to make decisions on proposals. Token holders will have the ability to choose the direction of the RAFL project.
RFL Token Sale
- Begins on 15th November 2017 and ends on 6th December 2017
- Maximum total supply of 100,000,000 RFL tokens
- 1 ETH = 2,000 RFL
- Soft cap: 40,000,000 RFL
- Hard Cap: 80,000,000 RFL
Use of Funds
Based on soft cap of 40,000,000 RFL, 25% of all Ether raised will use for funding the development of the platform, 37% will be used as working capital, 30% goes to marketing and 8% use to covered legal costs.
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