3. Buying Tickets for the Weekly Lottery
At the end of each 24 hour period, 16% of all winning funds are distributed to the lottery pool. The lottery pool lucky draw takes place once a week but accumulates funds daily.
Users buy tickets using WINR tokens. The more tickets a user purchases the more chances they have of winning the lottery.
If there are no winning tickets, then the amount held in the smart contract for the lottery will automatically roll over to the next period.
Each week the lottery smart contract will call the Chainlink VRF function to automatically generate 5 random numbers from 1 to 20. If there are one or more winners, those winners will receive an equal share of the total amount held in the smart contract.
Users may purchase as many tickets as they want. They may either choose their own numbers, or may have the platform pick 5 numbers for them randomly. Again these numbers will be auto-generated using the Chainlink VRF oracle.
The cost of a lottery ticket is dynamically changing based upon the total supply of WINR that are in circulation.
The calculations works as follows:
1/1,000,000,000 * Total number of tokens in circulation
1/1Billion * 500M tokens in supply = 0.50 WINR for Lottery Ticket
1/1Billion * 2B tokens in supply = 2.0 WINR for Lottery Ticket
Any tokens purchased by users for the JustBet lottery are immediately returned to the lottery reserve pool for later distribution (once all other tokens have been minted).
After the ninth round of WINR token minting has completed, any tokens stored in the reserve from the lottery token purchases will be minted every time the token reserve pool hits 1M tokens.
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