How your stake influences your chance at winning
Ticket2Lambo is a blockchain-based lottery project with big prizes to be won. Every Ticket2Lambo or T2L token that you buy is a ticket to enter our grand lottery as long as you hold them in your ETH-wallet.. The best part is that — your ticket appreciates in value the longer you hold on to it because of how the lottery is designed. So, you benefit from your tokens becoming more valuable over time, and you get the chance to win big prizes by holding onto your investment. It also means that you do not have to keep buying new tickets to participate in several rounds of drawing. You can, of course, choose to buy more to have a better shot at winning the jackpot!
As hinted above, unlike daily lotteries, the Ticket2Lambo system is tranched, which means that prizes will be given out after a preset number of tokens (tranche) have been sold. As the token then hits a higher price and a predetermined amount of tokens are sold-out again, a second round will be conducted, and so on for a total of ten rounds. The winners will receive their prizes in their wallets.
How the Lottery System Works
As an introductory offer, a pre-sale for T2L tokens will begin on June 1st. To be eligible to participate in the lottery, you must have at least one T2L token and hold it in your Ethereum wallet until the draw happens. Each tranche of the lottery will consist of 7.5 million tokens.
When the requisite number of tokens have been sold, and the token hits a predetermined price, the system will collect the wallets of all participants, and the lottery will begin. After each round, Ticket2Lambo will display a snapshot of the winners. As mentioned before, all winners will receive their prizes in their wallets.
The first tranche of tokens will be made available for purchase on the Bilaxy Exchange, for $0.1 per token following the pre-sale. The combined prize pool for the first round of draw will be $675,000. This amount will be unlocked after the whole tranche of 7.5 million tokens has been sold.
Each next tranche of tokens will be put on the market, with a 0.05$ markup. This means that the total prize pool of the tenth and final round of play will be $0.55, with the jackpot being $3.4 million.
Is it possible to increase your chance of winning?
Unlike other lotteries, Ticket2Lambo gives you a chance to increase your chance of winning one of the prizes. You are only eligible to participate when you hold your tokens in your ETH-wallet (T2L advises to use metamask). A token is like an activation key for your wallet and the more activation keys you own, the bigger the winning chance of your wallet will be in the lottery. This also means there is a chance that a ticket holder can win two or more prizes in one draw.
How this works is as follows. Our lottery system checks how many tokens are in circulation. After this it calculates the stake of each holder relative to the tokens in circulation, from this springs a percentage. For example, if there are 1000 tokens in circulation and you have 100 tokens your chance at winning is 10%. In contrast to a regular lottery where your chance at winning does not increase when you buy more tickets. From this input our software picks random winners.
Ticket2Lambo’s Financial Transparency
Ticket2Lambo promises transparency in all their dealings and is upfront about how the whole draw and payout system works in their lottery. They have even made a tracker on their website where anyone can keep tabs on the number of tokens sold and at what value. This will give people an idea about the number of tokens left to be drawn, which would generate interest in the lottery every time a tranche is about to be reached.
The project’s whitepaper also comes clean about the fact that 10% of the total yield of each tranche will be reserved as the founder’s fee. So for the first tranche, that’s $75.000 and going all the way up to $412.500 for the 10th and final tranche.
Everything put together, the total prize pool for the Ticket2Lambo lottery is 21,937,500, excluding the founder’s fee. The total number of tickets to be made available for purchase are 95,000,000.