The “No Loss Lottery” Winner Announcement: August 20th, 2022.
The “No Loss Lottery” Winner Announcement: August 20th, 2022.
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what if you could buy a ticket to a lottery which made you eligible for cash prizes every week, but you could also get your ticket price back?
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Do you think that would still be a lottery?
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Or is it more like a savings account?
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Or could it be both?
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The No Loss Lottery is called No Loss because your lottery ticket purchase price actually is a deposit into a savings account, which also makes you eligible for a prizes, in addition to earning interest on your savings.
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Therefore it is like a lottery, in that you buy tickets, and can win prizes, but like a savings account, because you never lose your money and you earn .. interest.
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Some people call it Prize Linked Savings because it is like a Savings account, but the account also gives you a chance to earn prizes, in addition to saving your money.
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Other people call it a Super Savers Account because in addition to earning interest you are eligible for prizes.
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Prizes are derived from earnings from ticket purchase price amounts being invested in Cubfinance DeFi Farms, so there is a possibility of impermanent loss, but balanced by gains over time.
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This last two weeks total liquidity pool earnings on Cubfinance Cub-BUSD pool was enough Cub to swap for 55 Leo ! 😀 When we subtract the lottery admin fee of 10%; 110-10= 100 Leo, 50 is given away as a prize.
This Weeks Prize Winner:
The Super Prize of 50 Leo goes to #2016 who is @jfang003
How is the Winner Determined?
- Each ticket is assigned a number in a ledger.
- Then a Google random number generator is used to generate numbers between 2 and 5152 the total number of tickets sold and Leo deposited so far.
How is the Prize Money Distributed?
- By wallet transfer, from the @nolosslottery account.
Congratulations @jfang003
. #nolosslottery .
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@shortsegments
:)
Posted Using LeoFinance Beta