China-based For The Win (FTW), a decentralized blockchain lottery and over-the-counter (OTC) exchange smart contract on the NEO blockchain, have announced the launch of the NEP-5 Lottery Platform on the NEO TestNet. Their new lottery platform is designed to allow people to “create their own lottery games and sell tickets,” and it supports prize pools of other NEP-5 tokens.
Users of the NEP-5 Lottery Platform have the options of setting the prize pool, the price of each lottery ticket, and the number of tickets. Once started, games in the smart contract cannot be canceled; likewise, raffle tickets are nonrefundable. The game’s creator will receive the ticket sale revenue only after the tickets are sold out and the drawing has been held.
FTW is using the random “nonce” function of the NEO blockchain to help it pick a winner, which it claims “cannot be manipulated or predicted in any way.” Winners and game creators will be able to withdraw their funds from the NEP-5 Lottery Platform smart contract, through the FTW Wallet.
FTW’s OTC exchange smart contract, the FTXchange, announced updates last month. The NEX (Neon Exchange), MCT (Master Contract Token), NOS (nOS), NNC (Neo Name Coin), and LX (Moonlight) tokens do not support the dynamic call function and have been blacklisted from trades on the FTXchange.
In addition, the FTW wallet now supports conversion from NEO and GAS to their smart contract-friendly equivalents, CNEO and CGAS.
FTX Lock Contract
Finally, FTX has announced that the team allocation of its FTX tokens has been temporarily frozen in their smart contract. One-fourth of the team’s FTX allocation will become unlocked every six months, until the process is complete on September 1st, 2020.
The full FTX NEP-5 Lottery Platform launch announcement can be viewed at the following link: https://medium.com/ftw-blog/try-our-nlp-testnet-7f9ee347b548
About The Author: Colin Closser
Colin Closser, M.D., was a speaker at the first NEO DevCon in San Francisco. A devoted contrarian, he has managed the improbable: a peaceful and healthy life, despite holding a medical degree. He aspires towards the wisdom of Michael Lewis and Nassim Nicholas Taleb.
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