🎰Raffle
Bet your MODO
The Raffle is a fun game where you can buy tickets with MODO and have a chance to win big prizes.
Rules
1 ticket = 100 MODO
Each raffle ticket contains 4 numbers, each from 1~8. You can buy a random ticket that gives you 4 arbitrary numbers or a custom ticket in which you select 4 numbers yourself.
Upon the raffle draw, you win prizes if 2, 3, or 4 of your ticket numbers match!
The ticket numbers matched need to be in the exact same slots order.
Example
Winning Numbers: 1, 1, 2, 3
Bob purchased 5 tickets:
1, 1, 2, 3 - 1st prize (matched 4 numbers)
1, 2, 1, 3 - 3rd prize (matched 2 numbers)
1, 1, 2, 5 - 2nd prize (matched 3 numbers)
1, 1, 3, 2 - 3rd prize (matched 2 numbers)
2, 3, 1, 1 - no prize (matched 0 numbers)
Prizes
For each round of raffle, the total pot is the sum of all the MODO used to purchase the tickets from ALL the participants.
From time to time, we will inject liquidity into the jackpot to make everyone's expected earnings higher.
The distribution of jackpot upon raffle draw is:
Numerical Example
Total Jackpot is 100,000 MODO
2 participants win 1st prize: each gets (100,000 *50%) / 2 = 25,000
10 participants win 2nd prize: each gets (100,000 *30%) / 10 = 3,000
30 participants win 3rd prize: each gets (100,000 *15%) / 30 = 500
Burned: 100,000 * 5% = 5000 MODO
If no one wins a 1st, 2nd, or 3rd prize, the allocated share of the jackpot will be moved to the next round of raffle draw.
The Jackpot equation
Total Jackpot = Undistributed prize from previous round + total MODO used to purchase tickets from current round + Injected MODO (if any)
Rounds & Time
There is one round of raffle taken place each day.
The raffle draw time: UTC 23:55:00 - UTC 00:05:00 (next day)
Buy ticket time: any time except raffle draw time
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