Hodlero is a decentralized lottery protocol where anyone can participate just by hodling. The inception of Hodlero began when two developers came together and brainstormed a way to make a lottery system run by the people, for the people. Unlike traditional lottery systems, we wanted to develop something that doesn’t require participants to constantly spend money in order to participate, something with a one-time purchase to be eligible for every jackpot lottery. Through deflationary tokenomics with a set transaction fee, Hodler wallets increase through every transaction, so even if a Hodler doesn’t win a jackpot, their holdings continue to grow.
The requirements to participate in the jackpot lotteries are simple, hodl 2,000 tokens for a minimum of 24 hours prior to the lottery drawing. The longer you hodl, the more jackpot lotteries you are automatically entered in and the greater your chances are to win.
Through decentralization, Hodlero’s lottery protocol is truly dictated by the actions of the people. Each lottery is drawn after the Binance Smart Chain completes 400,000 transaction blocks. Transaction block completion time is currently 3–5 seconds, with Binance stating the goal is to reach 1 second block completion times. At 3–5 seconds per block completion, a lottery is presumed to be drawn every 14–23 days.
Through standard deflationary tokenomics, a set fee is allocated to token holders, liquidity, and the lottery pool. The lottery pool allocation is 1%, which means that with an average 24hr volume of $500k, it will generate $5,000 in the lottery pool. In 14 days, the lottery pool allocation will be $70,000. Additionally, if the average 24hr volume is $2mm for 14 days, the lottery pool will be an astounding $280,000!
Lottery drawings occur leveraging Chainlink’s decentralized oracle network. Any eligible participant that holds a minimum of .2 Chainlink ($LINK) may initiate the lottery drawing. Since Chainlink’s service accrues a fee (.2 LINK), hodlers that choose to host the lottery drawing are entitled to 5% of the pool when a winner is confirmed. Using the examples above, if the lottery pool is $70,000, the host is eligible to receive $3,500 on a successful lottery draw. Additionally, if the lottery pool is $280,000, the host is eligible to receive $14,000 on a successful lottery draw.
If no winner is found, the lottery pool continues to accumulate until the next draw and each subsequent draw time is reduced by 50%. Once a winner has been selected, the lottery process resets. Review the table below for examples.
With a unique, custom contract, Hodlero sets itself apart from the sea of copycat contracts found on the BSC. Providing a unique, repeatable experience with no hidden fees, the Hodlero Decentralized Lottery Protocol makes participating in jackpot lotteries easier than ever before. Our hope is to bring real value and generate meaningful wealth for our Hodlers.
