Most of my followers would probably expect me to post a SteemWhales update today, but it is not the case. Instead, I want to present a new project that @blueorgy and I have been working on for the past few days: an automated lottery for steem.
The story behind this project: A bit earlier this week, I was chilling on the steemit.chat, and updated to the new formula for reputation on steem whales. This didn't deserve a full update post, so I decided to just let people know about it in the general chat. Following the update user @drinkzya had reached out to me about his idea to make a true gambling website for steem. A gambling bot had already existed, @steemdice1 (you can see me playing once, winning, and quitting in the transfer history), but it's a simple dice game.... @drinkzya very quickly hyped me into making this more then just an idea, but into a reality. A few hours later, I had a simple concept bot that sold tickets, and picked a random unique winner after 5 minutes.
The next day I was on steemit.chat again, helping out @blueorgy with his reputation formula and calculations for http://steem.cool, and after a friendly chat I asked him his opinion about what I had coded earlier. He instantly fell in love with the idea and proposed to help. Who am I to refuse?
Two days later @blueorgy delivered one very smooth design for the website and insight into the project. We then continued to create a Beta version for some more serious testing alongside adding many features that we believe will make this steem lottery a great success.
This is what we ended up with: http://steemloto.com!
How To Play
- Transfer SBD (only) to @steembingo for the 10MIN Lottery
- Transfer SBD (only) to @steemloto for the 24HOUR Lottery
- 1 Ticket is .01 STEEM DOLLARS
- Navigate to your Wallet (found on any of your profile pages - ex: Blog)
- Now next to your current STEEM DOLLAR account balance hit the little down arrow
- Select Transfer
- In the To field you will enter either @steembingo (for the 10MIN Lottery) or @steemloto (for the 24HOUR Lottery)
- Now fill in the amount of tickets you would like to buy (1 Ticket is .01 STEEM DOLLARS)
- No Memo is required but you can alwasy use one for reference
- Hit Transfer and you're all set! You will see you tickets displayed on the public table and see the Jackpot rise
- Don't gamble what you can't afford to lose
Lottery Features & Information
Remember: PLEASE DON'T GAMBLE WHAT YOU CAN'T AFFORD TO LOSE!
Automated Payouts and Posting
Our bot will pay out winners instanteneously after drawing the winning ticket. Additionally the daily lottery winner will be announced by the bot in a steemit post. The SBD rewards for these daily posts will be reinjected into the next day's lottery as a bonus!
1 Ticket = $0.01 SBD | Buy as many as you want
We wanted anyone to be able to play, and play as much as they want. You can enter the lottery for as little as 1 cent.
Two different lotteries
SteemLoto isn't only one lottery, it's two!
- @steemloto pays out every 24 hours. This allows for users in all timezones to play & potentially much Bigger Payouts!*
- @steembingo pays out every 10 minutes. A limited time quick lottery where timing is everything.
Listing of ticket holders on website
If you do end up purchasing tickets for either lottery, your username and total purchased tickets will display on http://steemloto.com after a few seconds. You can also see other competitors and how much they are waging.
See winners on the website
Previous lottery winners are displayed here on the website. You can see who won, when, and for how much.
Security of your funds
The bot processing the payouts and holding the players funds is running on a separate server than the website. Think of it a bit like a witness node.
Cryptographically secure pseudorandom number generator
A cryptographically secure number random generator, as you might use for generating encryption keys, works by gathering entropy - that is, unpredictable input - from a source which other people can't observe.
Payout Fee is set to 0.5%
Because there is currently no competition, this number was chosen randomly. As the lottery grows we will be lowering this rate in order to maximize winner payouts!
And Again: PLEASE DON'T GAMBLE WHAT YOU CAN'T AFFORD TO LOSE!
To contact us, we have a #steemloto channel on steemit.chat.