On February 4th, decentralized blockchain lottery platform For The Win has officially deployed NLP (NEP-5 Lottery Platform) on the NEO MainNet. The platform currently supports two games; a lottery and user-created raffles.
The first of its kind on the NEO network, NLP empowers users to operate and maintain the lottery. All interactions with the lottery are 100% automated by the smart contract itself. The team hopes their platform will “rectify the shortcomings” in traditional lotteries, where participation is limited and funds must be used for administrative costs.
Users may participate in the lottery by purchasing a ticket for 1 FTX, 0.1 CNEO or 1 CGAS. They may then select 5 numbers between 1 and 39, or randomly generate numbers. There is no limit to how many tickets may be purchased.
Funds collected from ticket sales are distributed as follows:
- 85% – Prize pool
- 5% – Awarded to address that triggers the contract to draw the winning ticket
- 5% – Awarded to ticket verifiers
- 5% – Allocated to FTW for marketing and advertising
Drawings can be triggered every 12 hours. 25% of the prize pool is allocated to users that draw 5, 4, 3 or 2 matching numbers. Users that match 2, 3 or 4 ticket numbers will share that allocation with others that matched the same quantity.
Unlike the lottery, raffle games are created by users themselves. Players may create a raffle event with a winning prize (CNEO, CGAS or FTX), a ticket price and the number of tickets to be sold. Optionally, raffle creators may specify a passcode that must be entered when purchasing tickets.
Players may purchase tickets, allowing the raffle to be drawn when all tickets are sold. Game owners receive the ticket sales, and the raffle winner will receive the prize with a 5% system fee.