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The ways in which blockchain technology has radically changed our economy are starting to become hard to count. As a new example of this trend, today we will talk about Delot, a project aiming to change the way modern lotteries work.
While we wait for Delot’s launch, we already know some of the features that should come with it. Our impartial overview will mention the essential aspects of the initiative.
What is Delot?
The team labels Delot as “the world’s first innovative decentralized lottery game for token holders.” The founders see a wide range of limitations in the traditional way a lottery typically works. In order to solve these issues, the team firmly believes that blockchain technology can come to help.
While traditional lotteries require spending money to buy tickets, Delot requires depositing tokens in a wallet.
Naturally, a greater quantity of tickets equals a greater chance of winning the grand prize. We’ll focus on the project’s most important aspects in further detail in the following parts of our overview.
Delot’s Main Features
The team boasts the following features in Delot’s official documentation, among which we can mention:
- Automation: the system exploits the Chainlink Keepers method to run the lottery game indefinitely.
- Incentive offer: to acquire additional tickets, players must hold on to tokens until the end of the game. In other words, the team designed a way to incentivize the system of token holding on the platform.
- Cooperation: the team will create a lottery game that can work with any ERC-20 token. The high level of compatibility may help Delot increase the value of its partnerships.
- Decentralization: only one smart contract is responsible for the whole system design.
Delot’s Mechanism and Auto-Pool Functionality
Every round would take between three and seven days under Delot’s game design. There are three states in a cycle: “Start,” “Active,” and “End.” Players can engage in the game by depositing tokens during the active phase of the round.
The Auto-Pool mechanism allows users to play and get the maximum amount of tickets while in the “Start” state.
Auto Pool is a function that allows players to enter the next round and earn tickets right away. Participation in the next round does not need delay until the previous one ends. Users may simply fund Auto Pool with the amount they wish to use as an entry.
Finding a Winner for Each Round
Using Chainlink VRF, the system generates random numbers and then uses them to select the winners.
Every round must have one to three winners, with a continuous fine-tuning in the Reward Pool’s prize payout ratio. For example, the first award may be worth 50%, the second 30%, and the third 20%.
In general, the players’ chances of winning a more significant reward positively correlate with the number of tickets they own. As a result, depositing/holding tokens to win the large prize is the optimal strategy, according to the team.
Beta Testing Chance
Delot has made a lottery system beta testing app available to the public while waiting for the system to go officially live. Retroactive token airdrops are available to Delot Telegram Group members who participate in Beta Test and offer feedback.
The Binance Smart Chain (BSC) technology will operate the $DELOT token, which has a supply of 100 million coins. As the founders promise, the $DELOT cross-chain functionality will become a reality starting from Polygon.
Most of the tokens will go to the presale phase (40%), the reward system (26.56%), and the liquidity pool (21.13%). The remaining coins will fund the team’s wallet (8%), the marketing operations (2%), the Unycrypt fees (1.31%), and airdrop events (1%).
Unycrypt will host the presale event, with the first round occurring before April 6th and the second starting on the same day.
The team began to work on this project in the last part of 2021, and we already have several details on its 2022 plans.
End of 2021
As a starting point, the group concentrated on developing the concept, product design, and architectural concept for the lottery game. They then focused on smart contracts and Dapp development.
First Half of 2022
Among the many significant events that should occur in the first half of the year are the following:
- Development of a website, KYC/audit of the project, and $DELOT sale.
- First marketing operations.
- $DELOT listing on CoinMarketCap and CoinGecko.
- Launch of the lottery game on Binance.
- Introduction of staking and yield farming features.
- $DELOT listing on a CEX (i.e., centralized exchange) portal.
Second Half of 2022
The second half of the year should let us witness a number of notable advancements, including the following:
- Birth of the $DELOT token on Polygon and run the lottery game on this chain.
- Development and release of Lottery Game 2.0.
- Introduction of NFTs in the system.
- Creation and publication of the 2023 project roadmap.
Delot’s roadmap hints at the fact that, while 2022 will see a long list of developments, the team’s work will continue in 2023. This aspect should not come as a surprise, especially considering the team’s ambitions of disrupting an established market.
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