DragonBall lottery
https://dragonball.iron.finance/ -- The first real-style lottery powered by Chainlink VRF
https://dragonball.iron.finance/
Earlier in April, we announced the development of our own lottery. We wanted to make a truly unique and real-style lottery, using our partial collateralised stablecoin, IRON token, which allows players to win significant prizes!
Our lottery, called DragonBall, could be the very first decentralised lottery in the crypto space, allowing the player to freely pick the numbers, pay for the ticket and win the prize in a stablecoin, just like a real lottery! The player can either manually pick the lucky numbers, or a randomiser can choose the numbers as well and one ticket costs only 2 IRON tokens!
DragonBall was inspired by the lack of real-style lotteries on the blockchain and we compared various non-crypto lotteries to come up with our own, that best serves IronFinance and the players! The user has to pick a total of 5 numbers from two tables:
- 4 numbers between 1 and 35, plus
- 1 number, called the DragonBall number between 1 and 24
The uniqueness of our lottery also comes from the possibility to win prizes with the winning numbers in no particular order. Unlike with PancakeSwap, where the user is given a ticket with random numbers which can’t be modified and where 1,2,3,4 does not win if the winning combination is 2,4,1,3, with our DragonBall lottery, just like with many real-life lotteries, if the user bought the ticket for 1,2,3,4 + 5 and the winning numbers are 3,4,1,2 + 5 then it wins the jackpot! This means you can match the winning combination with the first four numbers in any order!
We are very proud to announce that DragonBall will use Chainlink VRF (verifiable random function) for the generation of provably fair random lottery numbers to ensure maximum fairness.
There will be two draws weekly, on Tuesday and Saturday. The results will be published the same day at 2 pm UTC.

Ticket price

  • 2 IRON per ticket (=2 USD)
  • Players can pick their own number or generate them randomly

Winning combinations

  • Jackpot! Match all 5 numbers. These are tickets that match the first 4 numbers in any order AND match the 5th number (the DragonBall number)
  • “Match 4”: Tickets that match the first 4 numbers in any order (not counting in DragonBall number, i.e. the DragonBall number has been missed)
  • “Match 3”: Tickets that match the first 3 out of the first 4 numbers in any order (not count DragonBall number)
The chances to win are:
  • Jackpot: 1 in 1,256,640
  • Match 4: 1 in 52,360
  • Match 3: 1 in 422

Guaranteed minimum prizes

  • To bootstrap the lottery, Iron Finance team will add 50,000 IRON tokens as starting prize pool
  • All ticket revenue increases the current prize pool
  • 80% of the pool size will be rewarded to the Jackpot winner, 12% for matching 4 numbers, and 8% for matching 3 numbers
  • The prize will be divided equally if there are multiple winners in the same category
  • For a category without a winner (for example, if no one matches 4 numbers), the prize money will be allocated to the next round
  • Note: parameters can be fine-tuned after lottery results are live
  • Price: 2 IRON per ticket (can be adjusted in the future)
  • Players can pick their own number or generate them randomly

Taxes

A 30% tax rate is applied on the winner’s prize (automatically deducted)
  • 30% of the tax is used to increase the prize pool for the next lottery round
  • 70% is used to buy and burn TITAN token

Example

Let's take an example with real numbers and assume that the prize pool is $100,000 (100,000 IRON tokens). The lottery round outcome (winning numbers) is 1, 9, 14, 33 + 5. Remember that the 5th number is the DragonBall number.
There are 6 lottery winners in total this round (winning numbers are highlighted)
  • 1 Jackpot winner!
    • Winner's lottery ticket numbers: 1, 14, 33, 9 + 5
  • 2 winners for matching 4 numbers
    • Winner 1 lottery ticket numbers: 33, 1, 9, 14 + 20
    • Winner 2 lottery ticket numbers: 9, 1, 33, 14 + 8
  • 3 winners for matching 3 numbers
    • Winner 1 lottery ticket numbers: 17, 9, 1, 14 + 5
    • Winner 2 lottery ticket numbers: 35, 33, 1, 9 + 24
    • Winner 3 lottery ticket numbers: 9, 1, 14, 5 + 10
A tax rate of 30% is applied to the prize pool. That is 30% of 100k IRON which equals 30k IRON. The net prize pool is then 70,000 IRON tokens (100,000 minus 30,000 tax), distributed to winners as follows:
  • 1 Jackpot winner: 80% of 70k = 56,000 IRON
  • 2 winners for matching 4 numbers: 12% of 70k = 8.4k IRON = 4,200 IRON each
  • 3 winners for matching 3 numbers: 8% of 70k = 5.6k IRON = 1,870 IRON each
The 30,000 IRON applied as tax, will be used as follows:
  • 30% of the tax is used to increase the prize pool for the next lottery round = 9,000 IRON tokens
  • 70% is used to buy and burn TITAN token = 21,000 IRON
Last modified 5mo ago