The “No Loss Lottery” Winner Announcement: August 20th, 2022.
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?
Do you think that would still be a lottery?
Or is it more like a savings account?
Or could it be both?
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.
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.
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.
Other people call it a Super Savers Account because in addition to earning interest you are eligible for prizes.
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.
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
.
.
@shortsegments
:)
Posted Using LeoFinance Beta