SmartBillions is announcing their first ICO offering in order to develop the first fully decentralized and transparent lottery managed by an Ethereum smart contract. All bets and results are public and recorded on the Ethereum blockchain without 3rd party involvement. Only 0.25% of the lottery funds are accessible to the smart contract operations.
The setup has been remarked to be the first of its kind in the world, with a fully transparent mode of operation. The company is offering the possibility to redeem tokens and receive large chunks of invested funds back.
The investment mechanism through which the lottery will run will begin on the 16th of October. The SmartBillions lottery gaming platform will operate with its specially designed PLAY tokens, which will be initially priced at 0.001 ETH per unit (approx. 30 cents).
Investors will receive 79.37% of all the tokens issued. The rest will end up in the hands of its international group of developers. Two weeks after the ICO, the developers of SmartBillions will make the ‘PLAY TOKENS’ exchangeable on well-known crypto exchanges though the price would likely be higher than what it would be at the crowd sale period.
The lottery will be greatly cherished by all players in the circle; as there are different means to benefit from, a dividend will be paid on monthly basis to Token Holders. Dividends representing 5% of all lottery ticket sales and 90 % of funds raised will be transferred directly to the lottery jackpot.
Token Details
- Max hard cap = 200,000 ETH
- 100% tokens will be issued
- Ethereum ERC20 Token
- Purchase methods accepted: ETH
- 1 PLAY = 0.001 ETH
- Token Sale period: 16.10 – 30.10
Today the PLAY token costs 30 cents. From an investor’s perspective ‘PLAY TOKENS’ will gain value together with the development of the project and the dividend will grow at the same pace as the number of new players of the lottery.
With the current lack of transparency in the global lottery market operations, which is a leading factor slowing down online lotteries’ growth, SmartBillions seeks to bring full transparency to online lotteries and marks the birth of a new kind of trust and quality in the lottery market. With none of the currently operating online lotteries, having a decentralized and transparent system, whose processes depend majorly on third-party involvement, and also not subject to any control mechanisms, thereby creating a high risk of lottery operators influencing draw results and prize payouts. With SmartBillions this is a no-no strategy.
SmartBillions believes that global lottery market data is the tip of the iceberg of its market potential, as it constitutes a new market category and is dedicated to both blockchain professionals as well as the general public. The launch of SmartBillions marks the birth of a lottery which provides a new level of quality and trust. It is a part of the worldwide disruptive and democratizing blockchain movement.
It’s been estimated that as much as 70% of all possible markets in the world will rely on blockchain technology by 2025. The transparency and the trust attributed to the smart contracts operating on the blockchains derived from the fact that all agreements are executed automatically and allow no third-party access or administrator intervention.
For more information about SmartBillions and visit the official ICO page.
Discussion about this post