Vottery is the latest feature developed by VChain. It is unique because, beside the usual APR/APY you will get by staking into VChain, you will also have the access to a no-loss lottery, the game of chance.
For every project, VChain is enabled there is a dedicated wallet that holds the lottery prize. Every 15 minutes/hour/day (depending on the blockchain) we are sending a portion of our commission to this wallet to increase the pool prize size and hence, the jackpot prize.
The bigger the wallet gets, the more delegators it will attract which in turn the bigger commissions will get and so on... the idea is self-sustained with a little investment and there is no need for delegators to do anything else other than delegating their tokens.
Our delegators will earn these tickets by staking a specific amount of tokens depending on the chain and the current token price, these tickets are perpetual and recurring which means that they will be valid for every lottery until you withdraw/redelegate your tokens.
Another way of getting Vottery tickets is purchasing on Vottery's smart contract and you can get whatever range of numbers that you desire.
Your tokens will be delegated/stake as you would normally do when staking tokens. This means unlike in normal lotteries, delegators never lose their token/money and are always earning rewards through PoS (Proof of stake) even if they never win the lottery.
Lottery draw day
The Lottery draw day will be announced on our Twitter, and will not be the same in each round, therefore please follow and keep up with our latest announcement.
Before the draw time, we might temporarily hold all processes related to staking and ticket generation to prevent any sort of gaming around the draw time.
You can stake and redelegate your tokens with wallet explorers but you NEED to connect your KEPLR wallet to Vottery at least once so the system recognizes you as a participant.
The lottery drawing mechanism is based on a decentralized and non-predictable process. This allows Vottery to deliver a fair lottery without relying on any central party. Nobody, including the team themselves, can predict or intervene in the process of drawing the winning ticket