In the deep sea of blockchain technology, each iteration and innovation is like the surprises that divers encounter when exploring unknown waters. Raffle-IDO, a novel token sale process on the AlwaysWin platform, not only takes the excitement of token issuance to new heights but also represents an exploration into the current DeFi ecosystem: a decentralized raffle.
Intriguing Raffle Rules
The architecture of Raffle-IDO is underpinned by the strategic use of smart contracts, which are crucial to its round-based structure. Each round is defined by specific raffle quotas, all meticulously programmed into the smart contracts to ensure precision and fairness. Participants can secure a reward ranging from 101% to 130% of the principal amount in USDT or an even more lucrative 130% to 275% return in WIN tokens, choosing between the two options for each entry.
Participants are invited to join the raffle without any restrictions on the amount of USDT they can deposit. Upon depositing USDT into the raffle box of round ‘i’, the order immediately enters a queue state (for up to 48 hours). Once the quota for round ‘i’ is filled, the order then enters a countdown to the draw (also up to 48 hours). Consequently, Raffle-IDO opens the raffle box for round ‘i+1’, where new USDT raffle orders are sequentially added and queued (up to 48 hours) until it too is filled. At this point, the raffle box for round ‘i’ is drawn regardless of the remaining countdown time, with round ‘i+1’ entering its countdown (also up to 48 hours). The Raffle-IDO contract operates in this cyclical manner until a round is not filled.
If the box for round ‘i+1’ is filled before the countdown of round ‘i’ ends, participants in round ‘i’ win between 101%-130% USDT, with the prize amount increasing in higher rounds. If the box for round ‘i+1’ is not filled by the end of the countdown for round ‘i’, participants in both rounds ‘i’ and ‘i+1’ win between 130%~275% WIN. The larger the round number ‘i’, the higher the prize amount. Of the WIN prizes in Raffle-IDO, 117 million WIN is immediately available for circulation, with 100 million to 343 million WIN pending release. The USDT value of WIN tokens available for circulation will correspond to 70% of the participants initial USDT entered in the round. The contract will fairly distribute WIN based on each participant’s proportion of USDT contributed to that raffle box. The system is designed to eliminate any possibility of unfairness or randomness in the reward process.
Raffle Quota (L)
Each raffle round is governed by a unique quota, predetermined by an algorithmic rule and rigidly enforced by the smart contract. The initial round is capped at 10,000 USDT, with all entrants collectively contributing to this limit. Consequently, the first round’s quota can be reached by a single participant who commits 10,000 USDT promptly, or it can be collectively met by multiple participants-for instance, one contributing 5,000 USDT and two others contributing 2,500 USDT each. The quota for each succeeding round is set to escalate in accordance with a specific algorithmic pattern:
where, Pi = preset winning profit factor of round 𝑖 (1%，2%…29%，30%)
Li= raffle quota of round 𝑖
Determining the Initial USDT Reserve Quantity (R) in the SWAP Protocol
The allure of Raffle-IDO lies in its distinctive economic design, which sets it apart from conventional DeFi initiatives. Traditional models typically cast users in the role of mere investors; Raffle-IDO, by contrast, integrates each participant into the fabric of the platform’s liquidity, thus deepening their engagement and fostering a stronger sense of community. This integration is instrumental in bolstering user retention. Following the disbursement of WIN’s substantial prizes, rewards, and promotional incentives, any remaining USDT within the smart contract is allocated entirely as the foundational reserve for the SWAP protocol. This allocation underpins the WIN token’s market stability, cultivates a broader user base, and augments liquidity for the AlwaysWin ecosystem. The underlying formula is articulated as follows:
Where li= the total amount of user participation in the raffle for round ‘i’.
Utilizing the formula for the initial USDT reserve, alongside the pre-calculated early circulation volume of WIN tokens and the WIN pricing algorithm, the initial price (P) of WIN can be readily established. This value is critical as it enables the fundamental feature of the AlwaysWin platform-the SWAP function-to commence operations effectively.
where, C= circulating supply of WIN
Raffle-IDO’s inception signifies a fresh technological breakthrough within the DeFi sector. The mechanism introduced by the AlwaysWin platform is not merely a conduit for novel investment avenues for users but also a gateway to uncharted prospects for DeFi market evolution. As Raffle-IDO garners increasing interest and participation, it stands to reason that it will emerge as a pioneering trendsetter in the digital currency domain, shaping the future trajectory of this industry.
