Weekly RANDOM lottery
RANDOM is the fairest lottery from all existing at the moment.
The work of RANDOM is organized completely on the basis of the Ethereum smart contract that allows excluding the human factor and organizers’ fraud completely.
In the RANDOM environment the RND token is used as "a lottery ticket", 1 token costs 0,01 ETH
In general RANDOM has 3 types of lotteries located on different smart contracts in the Ethereum blockchain:
1) Daily
2) Weekly
3) Monthly
We will consider the process of a Weekly lottery individually.
Process of the lottery organization:
The weekly lottery of RANDOM is organized on the Ethereum Blockchain with the use of a contract smart. The smart contract is publicly available, anyone can analyze it on github.com or examine the audit by IT companies specialized for this purpose (audit will be published on the RANDOM’s official site in the nearest future).
In the RANDOM environment the RND token is used as "a lottery ticket", 1 token costs 0,01 ETH
The functionality for conducting lotteries is provided entirely by the use of smart contracts.
All currency in ETH which are sent to the smart contract is frozen till the end of a lottery. A lottery is performed instantly at the moment when a certain block with the frequency specified in the smart contract appears.
90% of the prize fund are distributed between winners, 10% of the funds are transferred to the smart contract for distribution between marketing and support goals.
In a weekly lottery 4% of the participating tokens win.
In a lottery Jackpot is used. The senior Jackpot – 10% of the whole prize fund, the average Jackpot – 4%, the younger – 1%.
After Jackpot drawing, the remaining ETH is equally distributed between other winners which constitute together with Jackpot winners 4% of all participating tokens.
The lottery starts with the certain block number and finishes as soon as the block appearing in approximately 1, 7 or 30 days is appearing is reached (for different types of lotteries).
It is allowed to bet starting from the moment of the lottery start. Each bet creates a new lottery ticket (the amount of lottery tickets is calculated on the basis of the unit price at 0.01 ETH per ticket).
With the end of the lottery (when definite block of the net is reached) it is necessary to commit "the final bet". The winners are being determined as a result of "the final bet". The balance of each winner is being increased by the amount of the prize.
In any moment after the draw, a winner is free to withdraw ETH out of the balance using "Withdraw" function.
The winning can be accumulated at the contract for unlimited time and can only be withdrawn by the winner.
Probability of winning:
The probability of winning in a draw is calculated by the following formula:
where X is a number of the participating tokens.
In the case of repeated participation, chances for winning are increasing in proportion to the number of participations by the formula: 0,04*n, wherein N is the number of participations in the draw. Therefore, the chance for winning at the 10th participation is 40%, and the total winning volume would be twice more than the volume of invested funds during all the time.
For reference: Average % of probability of winning a prize in a usual, not connected with the RANDOM lottery - 1/60 000 000 (0.0000016%) that is almost impossible within participation.
Features and differences:
1. Transparency and openness
2. High percentage of winning probability
3. Trust and safety (Blockchain)
4. Prizes in Ethereum
5. Lack of the human factor
6. Ease of use
7. Possibility to check and observe the process in real time
8. Unlimited time of existence
Instruction for participants of the Weekly lottery:
1. Enter the official site
https://mr-r.io/2. Choose the Weekly lottery and press the button “Participate”.
3. In the instruction appeared on the webpage copy the contract address.
4. Go to the official ETH wallet website
https://www.myetherwallet.com 5. Transfer the Ethereum amount which is necessary for you to the copied contract address.
6. Automatically, after receiving ETH on the RANDOM contact address, on a payer’s wallet the purchased amount of RND tokens is transferred.
7. Each RND token participates in a lottery as a separate "lottery ticket".
8. For checking the amount of the purchased RND tokens go to the official RANDOM site
https://mr-r.io/ and in the corresponding field enter your Myetherwallet address or follow the instruction for checking the RND tokens amount
https://etherscan.io/ given on the official RANDOM site
9. You can move RND token - for this purpose follow the instruction for transferring the RND tokens given on the official RANDOM site (the tokens can be used as a gift, for example).
10. Betting is allowed from the moment of the lottery start. Each bet creates a new lottery ticket.
11. At the end of a lottery (the specified network block is reached), you can make "The last bet". This bet will be followed by determination of winners. The balance of each winner on the contract will increase in the amount of the prize. Every participant of the Weekly lottery can make "The last bet".
12. The participant of a lottery who has made "The last rate" is guaranteed from 1 to 5 ETH as compensation for the spent Gas (commission) because the commission when making "The last bet require a higher amount of Gaz.
13. At any time after the end of the Weekly lottery, the winner can transfer the ETH he or she won from the balance on the smart contract by using the Withdraw function on the official RANDOM site
https://mr-r.io/ following the instruction given in the appropriate section.