New and improved
- I want to share an idea with those who participated in the no loss lottery before.
- I would like to find out how much interest there would be in a new No Loss Lottery, which would improve upon the oldder version.
- First, the lottery would invest in a stablecoin pool instead of volatile cryptocurrency. This would insure preservation of capitol for the investors.
- Second, lottery participants would buy an actual No Loss Lottery NFT for one HBD, and the value of the NFTs would be secured or backed by the value of the pool. For example the pool would start with 5000 NFTs worth 5000 HBD. Each month half the earnings would be given away as a prize to the lottery winner and half would be reinvested into the pool. So lottery winners would earn prizes, but lottery ticket NFT holders would experience an appreciation of their NFTS over time.
- Third, the Lottery ticket NFT price would increase over time to represent the increasing value of the investment pool which backs the NFTS.
Example:
The Pool sold 1000 Lottery Ticket NFTs on opening day.
The pool invests the 1000 HBD paid for the 1000 Lottery Ticket NFTs into a stablecoin liquidity pool.
After one month the pool earnings are 100 HBD.
50 HBD are reinvested in the pool, meaning the pool value has gone from 1000 HBD to 1050 HBD, and each of the 1000 Lottey Ticket NFTs are now worth 1.05 HBD.
The other half of the 100 HBD, 50 HBD is given away as prizes to Lottery Ticket NFT holders as prizes.
This means the Lottery Ticket NFT holders have a chance to win prizes each month and the value of their NFTs goes up each month.
Important feature:
- The NFT will be listed for sale or purchase on Hive Engine or another suitable exchange.
- The pool administrator will buy back any Lottery Ticket NFT for the current value, example 1.05 HBD.
- In this way investors or savers can go in and out of the pool easily and in a decentralized manner.
- If the pool gets large enough the purchase and sale of the Lottery Ticket NFTs will occur on the website of the pool.
What do you think are the Pros of this arangement and what do you think are the CONs of this arrangement?
Posted Using LeoFinance Alpha
I like it. I’ll do it
Thanks for your support.
I would definitely invest in this concept. But you don't need NFTs, a simple custom token would do it.
Good point.
Congratulations @nolosslottery! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 400 comments.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out our last posts: