No Loss Lottery Roadmap 2021
No Loss Lottery Roadmap
Product Launch May 2nd, 2021
So I have launched this product, and I am advertising it on the largest Communities of Hive at the risk of incurring Downvotes. But each post says all proceeds go to the prize pull, so I hope to avoid the wrath of any Spam seeking accounts.
Reward Risk Ratio 1000;1 heavily in favor of Lottery Ticket holders.
I have invested 1000 BLEO in the pot, which is not attached to tickets or random numbers. This creates crazy returns for the investors of 1 Leo of 1000:1 with odds of winning much greater the 1 in 1000, more like 1 in 50.
In other words I am not using that 1000 to win. I am using it to create a Big Prize, that you can win. The whole purpose is a relatively large prize for the amount invested.
So someone who invests 1 Leo can win the earnings of 1000 invested Leo.
Why?
To build the investor base, by making it a low risk, high profit investment.
Next evolution part 1
Educate large numbers of Hive users about the No Loss Lottery, and help people understand it has the thrill of winning a real lottery and the safety of a savings account. Your lottery ticket doesn't expire with the first drawing, you can let it ride. So in reality it acts like a savings account with the chance to win the interest on not just your money, but on every entrants money!
It's a modification of the traditional lottery concept, it is basically changed to favor the lottery ticket entrants. Understanding it will require thinking outside the box, but I think the people on hive can figure it out.
Next Evolution part 2
The project is a centralized and requires trust in me. That has to change, so I will replace me with code. Then you can trust the code.
Code Audit
Once finished, the code would need to be audited. So in keeping with the standard set by @khaleelkazi the safety of investors funds is a priority.
Tweak Project;
BLEO-BNB trading pair
Right now the funds are deposited in Cub den. But as Leobridge deploys and demand for BLEO grows it may be more profitable to invest in the BLEO-BNB liquidity pool, and it would help Our community by providing liquidity to BLEO-BNB trading pair.
Provide rewards in Ether, BNB or USDC.
This maybe attractive to investors.
Additionally, I may look into cross platform investment to provide prizes in different Token like CAKE. If the investors in the No Loss Lottery express an interest in receiving rewards in another token, and I can do it without making it to complicated.
Last words
Those are my thoughts I will share now. I have other ideas for this project, but it’s one step at a time, so it’s done right.
First Post explaining the No Loss Lottery is reproduced below in the Comment Section, and can be viewed at this clickable link
Or copy and paste this web address https://leofinance.io/@shortsegments/no-loss-lottery
Shortsegments is a writer focused on cryptocurrency, the blockchain, non-fungible digital tokens or NFTs, and decentralized finance, where finance meets technology.
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No Loss Lottery Explanation Post
Posted Using LeoFinance Beta
Well now I know what a cryptocurrency roadmap is, it’s a glimpse into the future of the project.
I like your honesty about the project being trust based, and your plan to move to trusting code. This is DeFi and trust is paramount.
It’s an ambitious project, and your investing a lot of your own capitol.
Good Luck
Posted Using LeoFinance Beta
Thanks for the transparency. I prefer the rewards to come as LEO so I think giving people options would be enough. Maybe the default option would be to pay in LEO.
Posted Using LeoFinance Beta
The No Loss Lottery
Background:
Lotteries are games of probability.
In a traditional lottery, you buy one or more dollar tickets in the hope of winning a prize; a pot of money worth anywhere from several thousand to one million or several million dollars USD. The size of the reward is great, but the actual odds of winning are small. Usually 1 in several thousand or as great as 1 in one million. That means the percent chance of winning is 0.00001% at best and 0.0000001 % at worst. The converse of you chance of winning is your chance of losing, which is around 99.9999%vto 99.999999 %.
As you can see, the risk of losing the money you paid for a Traditional lottery is very high. However, although the probability of winning is low, the rate of participation is high, due to the risk reward ratio. For example, you risk a single dollar, for the potential reward of one million dollars. As the saying goes: “Hope springs eternal” and humans love to gamble.
The reality is, the vast majority of traditional lottery players lose.
Despite the high reward to risk ratio, the fact remains, that the vast majority of those enter, over 99%, lose. The amount of the ticket is small, but adds up, because some people buy tickets every day, every Friday, every payday, etc..etc..
The No Loss Lottery
The No Loss Lottery is a logical solution to the problem of buying tickets with a 99.99% chance of losing in a traditional lottery. If you buy a No Loss Lottery Ticket, you can’t lose, because if you don’t win, you can get your money back. So you only have to buy a ticket once, and you have a chance to win every day!
You can’t lose, you may win a prize and you will get your money back.
You can’t lose, in a No Loss Lottery, because the cost of the lottery ticket is returned to you upon request. So that’s why it’s called a No Loss Lottery.
You can’t lose, you can only win or get your money back.
So in effect, you have a chance of winning a prize, which should be larger than the cost of one lottery ticket, every day with no potential loss of the cost of your lottery ticket. And when you no longer want to have a chance at the prize, you withdrawal your money.
What is the probability of winning?
The probability of winning depends on the number of entries, which will be highest at the beginning of the lottery. But while the probability of winning decreases as the number of people entering the lottery grows, the size of the prize grows too.
How does it work
You send 1 Leo to the Account @nolosslottery
This deposit buys you one lottery ticket. All Leo sent to this account is deposited in the Cub* Den on Cubfinance. Initially, every day or every week one lucky winner gets a prize determined by the amount of Cub earnings for the day or week. This is then sent to their account as Leo. As the balance grows the lottery will occur more often. Eventually occurring everyday with 7 winners per week.
Methodology for selecting winner.
Each person will be assigned a number for each Leo they deposit. This is entered in a spread sheet.
A list of each entrants name and number will be placed in a post daily.
Each day the Google random winner generator application shall be used to pick the winner.
A picture of the random winner will be posted daily by @nolosslottery.
Send all entry fees in Leo to @nolosslottery.
You may enter as often as you like.
Each entry will represent one ticket in first come order.
Example:
@hivemember1 send 1 Leo, they are assigned number 1
@hivemember2 sends 2 Leo, they are assigned numbers 2 and 3.
@hivemember3 sends 4 Leo, they are assigned numbers 4, 5, 6 and 7.
Google random winner picker will be asked to pick a number between 1 and 7.
It picks number 3.
@hivemember2 wins the Lottery that day!
Rules
Ticket purchase starts May 2nd, 2021.
You can send Leo earlier and it will be deposited in bulk on or before May 2nd.
First Lottery on May 9nd, 2021.
One Leo equals one Entry.
Deposits are accepted every day of the week.
Deposits can be removed after 7 days, on one day per week, and withdrawals will be published. Your name will be removed from the spreadsheet and everyone below you assigned a new number.
All deposits can be removed by writing a comment on the weekly post of the account @nolosslottery.
Depending on demand it can take 1-2 days to refund your Leo. I will process about 10 withdrawals per day. If you desperately need your invested Leo send @nolosslottery a wallet memo or contact @nolosslottery via a post comment.
Or you can let your deposit stay in the pool for a continued shot at the prize.
You may also buy additional lottery ticket(s) on each Monday to increase your odds of winning.
You will be assigned an additional number.
The Lottery creator and Lottery Sponsors will contribute to the pool to make the prize worthwhile for the first depositors until the pool grows.
The account @nolosslottery will receive 5% of the daily earnings from the Cubfinance lottery pool as compensation for conducting the lottery.
This 5% will be reduced in time as the pool grows.
Questions?
@shortsegments
¥@
Picture Credit
Posted Using LeoFinance Beta
The roadmap is exciting.
Posted Using LeoFinance Beta