Hello everybody, this new dipostingan I want to introduce about Etheraffle project, and for more details let's just go to the following discussion:
Etheraffle, the world’s first charitable blockchain lottery. Decentralized and powered entirely by smart-contracts on the blockchain. Built to provide funding for EthRelief: A DAO controlled platform for charitable giving and largest source of decentralized altruism in the world.
Etheraffle is an already functional, ethereum based, blockchain lottery platform whose goals going forward are threefold:
- To fully decentralise all platform logic by migrating onto the Swarm content distribution service as it develops whilst the same time dissolving the ÐApp ownership and contract-control to a voting-based, smart-contract powered, permission-less, democratic autonomous organisation formed of and run by the Etheraffle LOT token holders.
- To continue providing players with a simple and intuitive user experience that is designed to be navigable by anyone including those completely new to the ethereum ecosystem – giving opportunities to win large prizes whilst their ticket sales go on to provide a host of benefits for both the Etheraffle LOT token holders and for Etheraffle's sister company, EthRelief.
- To continue growing the ÐApp’s market-share, profitability and usage worldwide in order to drive more funding to the EthRelief portal and effectively incentivize the LOT DAO running it.
The nascent EthRelief platform’s goal going forward is singular:
- To create and provide the largest source of decentralised altruism on the blockchain, funded by Etheraffle, controlled and managed entirely by LOT token holders’ votes as part of the LOT DAO, in order to ultimately dispense continuous and democratically-decided charitable donations worldwide.
Lotteries are an extremely profitable industry, with a market cap in excess of$279.9BN1 c.2015. So profitable in fact that many provide a stream of revenue that is given over to funding of various sorts. However the size, allocation, usage and these funds is controlled entirely by and at the discretion of companies whose internal policies and decision making are private and opaque.
Charitable entities share similar opacity concerns – their not-for-profit nature belie the issue of a donor not knowing whether their contributed funds helped their intended recipient or pad the salaries of managerial staff instead. Both of these concerns are solved by the transparency and immutability afforded by blockchain technology, and are at the core of what Etheraffle & EthRelief intend to address.
Running such enterprises on the blockchain also manifest a host of other benefits:
- Provably Fair – Everything occurs in the public domain.
- Auditable – Smart-contracts are open-source by default.
- Logistically Scalable – Ethereum knows no borders.
- Low Overheads – No physical infrastructure required.
- Worldwide Market – Ethereum’s network spans the globe.
- Impartial – Code execution is objective, always.
- No downtime – It is impossible for the ethereum network to go offline.
- No censorship – Extreme transparency
- Democratic – There are no privileged ethereum addresses.
LOT Etheraffle is an integral part of Etheraffle. Utilizing the power of blockhere ethereum, DApp Etheraffle provides great rewards for players, an ongoing ETH dividend for LOT holders, and a life-changing fund for charity. From the beginning, holding a LOT token gives you a quarterly ETH dividend from the ether produced by the Etheraffle platform.
To receive this ETH, you just need to vote where you think Etheraffle charity funding should go. In the current development, EthRelief ÐApp is what will put this charity action into your hands.
Eligible causes are recommended and selected by you, the MANY holder, which generates donations everywhere you decide, backed by complete transparency, auditability and the robustness of the EthRelief blockchain technology. By holding LOT and placing your voice, you can not only help good causes around the world, but get rewarded in ETH for doing so.
Relationship between Etheraffle ÐApp, EthRelief ÐApp charity and you MUCH holder is simple:
- Users play Etheraffle, the only set of truly decentralized charity blockchains. Tickets are bought and paid at ETH and all prizes are paid in full, also at ETH.
- Each week, the percentage of ETH collected in ticket sales is sent to EthRelief Ð The smart contract application, where it accumulates is ready to go wherever the LOT token holders have chosen.
- The second percentage of the ETH raised in ticket sales each week is sent to the dividend smart contract, where the accumulation will be ready to be paid to you, the LOT holder.
- To receive ETH dividends, you as a LOT holder must choose where you think the charitable donation in step 2 should go.
In short: Ownership of your LOT token generates ETH and makes you a part of the Etheraffle DAO - a decentralized autonomous organization, which ultimately benefits, fully owns and runs both Etheraffle and Ethelel platforms.
LOT - Key Features
The LOT Etheraffle Token is the first of its kind to feature truly decentralized ownership. Through LOT ownership, participants will be uniquely able to control an important aspect of the Etheraffle dividend payout system: The Freezability LOT token. As a LOT holder, the amount of ETH you receive depends on how many Lots you hold. To calculate this amount, the LOT token transfer function must be paused. To achieve this, TOST tokens are free. When frozen, no sign movements can occur which means that your share of the ETH can be given accurately and fairly to you.
Details of ICO
Sales of LOT Etheraffle tokens are broken down into four parts. Pre-ICO runs for two weeks, and Level One for the next two weeks. Level Two runs for three weeks and Level Three for four weeks. To participate in the ICO, you can either use the provided entry form or send the ether directly to the ICO contract address below and the smart contract will automatically re-submit your LOT tokens, instantly.