General Information

The Lucky8 lottery is designed in a straight-forward way making access to lottery participation as convenient as possible. Participating in the lottery requires you to stake $888 to mint lottery tickets. In the following, the lottery structure is described, so make sure you understand the different stages of a lottery:

epochs: Every lottery draw counts as one epoch. epochs happen every 24 hours which means that every 24 hours, a lottery draw takes place. During each lottery draw, 3 winning lottery tickets are randomly selected via Chainlink VRF, and the prize pot will be equally distributed. During each lottery draw, 1/4 of the entire prize pot will be distributed.

Bonded: In order to participate in a lottery draw, $888 must bonded. Every bonded $888 counts as one lottery ticket that have to manually minted before the lottery draw takes place. Whoever has bonded $888, is eligible to mint lottery tickets for the upcoming lottery draw. Also, bonded $888 receive native bonding yield. In case people want to exit the system and withdraw their bonded $888, they become staged for 2 epochs before they can unlock and withdraw their $888.

Staged: As described above, staged is a locking period for people that unbonded in order to exit the system. After unbonding people become staged for 2 epochs before they can unlock and withdraw their $888. Simultaneously, staged $888 can always be bonded again without being subject to any lockup. While being staged bonding yield as well as lottery participation is disabled.

Lottery draw: The lottery draw event randomly picks the 3 winning lottery ticket powered by Chainlink VRF. Whoever bonded $888 and consequentially minted lottery tickets for the upcoming lottery draw will participate. The prize pot will be claimable at any point in time post lottery draw.