The gaming and gambling industry has proven fast in adopting technology. There are already numerous products specifically developed to serve the gaming and gambling space in this era of blockchain technology. Interestingly the lottery sector has remained adamant when it comes to adopting new tech developments. Lotto.finance brags of being the first-ever fully decentralized online lottery program. Lotto.finance’s eponymous token, LOTTO, is unique for pioneering lottery tokens in the blockchain ecosystem. LOTTO does not have an independent blockchain technology so it runs on Ethereum as an ERC-20 token. It aims to facilitate a transparent and fair lottery experience as well as simplify lottery games for beginner players.
How it Works
Unlike most online games, the first-ever crypto virtual program works remarkably. Winning isn’t dependent on a participant’s skills. It’s purely a matter of chance and luck, just like in the traditional lottery program. The difference between traditional and digital lottery is that here all processes are programmed to run automatically without any human interference, and you don’t need to buy a new ticket for each draw. The LOTTO system runs twice weekly on every Tuesday and Friday. It deducts a set amount of tokens from each holder’s account and automatically enters them into a blockchain pool. It then carries out a draw where it allocates tokens to a random participant in that virtual pool. So players have no role apart from making sure that their accounts are adequately funded. In the end, the LOTTO system randomly selects the winner for that day. In terms of security and fairness, LOTTO is developed in a way that once it starts launching the initial coin for the draw, no one can stop or interfere with it, not even its developers. There will be one daily draw for as long as the Ethereum ecosystem is thriving.
How to Acquire LOTTO Tokens
- Via Airdrop
LOTTO was initially distributed for free. Defi token holders can check their eligibility and claim their free tokens. Visit lotto.finance to claim your tokens via airdrop if you’re eligible. Simple click on “connect wallet,” and follow the instructions.
- Buy LOTTO from an Exchange
LOTTO is not yet available on many exchanges. For now, you can only access it from Uniswap, Catex, Bilaxy, and Hotbit. This makes it expensive to transact as you can’t buy it directly. The developers recently updated that they are working on plans to increase the accessibility of LOTTO in the blockchain space.
How to participate
Playing LOTTO is as easy as these three steps
- Link your wallet: The first step is to visit lotto.finance and link your wallet to the platform. You need a WalletConnect compatible wallet to scan the QR on the website and link your wallet. If you are eligible for free tokens, a “CLAIM LOTTO,” button will pop up. See below.
- Get LOTTO token: If you didn’t get any free tokens, you now need to purchase them from an exchange and fund your Lotto.finance account. This is the only action required from your side.
- Wait for lottery: Once your account is funded, you cn sit back and wait for the lottery day. The website displays a count down of how many days are left to the next draw. You don’t have to do anything on that day. LOTTO system will deduct some tokens from your account and enter you into the draw automatically.
- Check your wallet: This is where we know whether we have made money or not. Expect a huge increase of your wallet balance if you were the lucky winner fo the day. Otherwise wait for the next draw. Lottery purely depends on chance, so be patient and wait for your day.
The LOTTO token is very new in the crypto world. It’s barely a year old, having been launched on the 15th of April 2021.
Lotto.finance introduces fairness and transparency into lottery through Ethereum’s blockchain security features.
The current market cap for LOTTO stands at about 250 million USD. The token is likely to rank among the top 50 tokens with the rate of its uptake.