Participants

We want the goods!

Users access the Participant interface to enter lotteries by staking value into a Sponsor’s lottery smart contract.

In the early days of the platform, a uniform cryptocurrency will be used for all transactions with the platform, both in and out. It must be a stablecoin to ensure the values remain constant through the length of the lottery. However, at maturity, users will be able to swap any cryptocurrency for the Currency of Account set by the Sponsor, through an integrated swap mechanism directly on the platform.

Participant Interface and Dashboard

The Participant Interface and Dashboard includes:

• User Settings

• Current Lotteries Participating in, to include time remaining and total amount staked

• Lottery History

• Sponsor Tokens Held

• Recommended Lotteries

• Lottery Search/Browse

Unlike Sponsors, Participants have no external facing metrics on the platform.

Sponsor Tokens

The Sponsor and Participant must coordinate off-chain so the Sponsor has the Participant’s wallet address. This shouldn’t be an issue as off-chain is where most of the discovery and value creation between Sponsors and Participants takes place. Tokens increase the weight of a ticket, generally improving its odds of winning relative to a ticket with no/less tokens. These tokens can be freely sold and traded.

From a brand’s perspective, issued Tokens have already created value for them, so they should not care who spends them. While this may go against the notion of rewarding their biggest fans, most Participants will use their tokens themselves (or pool with friends to try and win an item) and also creates the potential to still capture value from the Drop by selling to others – which is aligned with the key aim of the platform. Also, over time, it helps Sponsors determine their ticket weight factor parameters, as secondary token sales reveal their worth relative to money, and therefore price premium.