Solido Lottery Platform

Solido plans state-of-the-art lottery giveaways to win additional prizes and bonuses.

Solido also offers a peer-to-peer lottery giveaway. It shall operate daily/weekly/monthly pooled giveaways compatible with various Sol tokens.

The lottery giveaways with Solido have great transparency that’s unlikely to find with traditional lotteries.

Take a look at how it’s differentiated:

• Solido lotteries remove the need to trust intermediaries as with traditional lotteries.

• Solido will reduce administrative fees and expenses.

• The lottery giveaways are structured in a meaningful way.

We have planned to deploy different lottery models for our Solana-based Solido ecosystem. Here’re the structure/protocols for the lottery giveaways:

1. Legacy Lottery Model

   Let’s say Jarvis wants to enter the pooled giveaway in this model and goes onto buying 1 lottery ticket at 1 $SIDO .

   As Jarvis has gone for the legacy model, there’ll be a number of scenarios.

   They’re:

   Scenario 1: Jarvis’s lottery ticket number doesn’t match the winning number. But it’s a match for another participant. In this case, the complete payout goes to the other participant.

   Scenario 2: Jarvis’s lottery ticket number matches with the winning number. So he’s entitled to win the entire prize money. The whole payout goes to Jarvis, except for the marginal fees.

   Scenario 3: Someone else’s lottery number matches with the winning number, along with Jarvis as well. Both the winners are entitled to receive the prize. The payout is divided equally among the winning participants.

   Scenario 4: No one wins the lottery along with Jarvis. So the pool prize is rolled over for the next draw.

2. Pooled Giveaway Model Let’s say Jarvis decides to get into the pooled giveaway model & stakes 1 Sol in the pool. He is entitled to receiving liquidity tokens representing his share of stakes. The pool generates staking rewards which are then harvested and a winner is selected randomly. The chances of winning for Jarvis in the pooled giveaways is proportional to the stakes he owns in the pool. This increases the total time Jarvis has staked his tokens in the pool. The only randomly selected winner will win all the rewards.

3. Subscription Lottery Model Users have to make a single donation through the Legacy lottery model (for a limited time span). Let’s say Jarvis donates for an-year plan. He, by default, has the chance of winning the monthly lottery drawing for one year. Till the subscription of the lottery exists, the user will automatically input the lottery drawing. Every additional donation gives Jarvis one more chance to win the lottery model. Jarvis’s all other winning chances are removed, if they have won the subscription lottery. He has to start back with one chance right after making the next donation. Solido will introduce all the pooled giveaways over time with the growing prize pool. We have planned to draw a lottery weekly and monthly using a tamper-proof number generator to pick a random number.