LOTEO is a fully automated lottery platform that uses blockchain and a smart contract to create a completely transparent lottery, where your chances are incomparably higher than those of traditional lotteries.

Hello to crypto lovers, I dedicate this article to talk about the Loteo project (https://www.playloteo.com). LOTEO is an automated digital lottery game that is run by code and not controlled by people. In the lottery, first weekly and then daily, a random Ethereum address from a group of users will be selected. The drawing will be based on a random number generation system that will have a publicly available code on GitHub, as well as on the Ethereum network. The winner will receive 75% of the prize fund as a reward, which will be sent to his address Ethereum. In the rest of the article I will explain in detail to you the features of this fantastic project. Follow me!

Problem



Oggi, le lotterie con licenza ufficiale possono essere trovate in quasi la metà dei paesi del mondo. Monopolizzano governor limito moncombo, questa forma di scommesse, sono senza dubbio popolari in molte regioni.

La fiducia ha semper una parte essenziale nelle lotterie di successo.

I clienti devono essere certi che il sorteggio venga fatto in modo trasparente, equo e casuale. Una moltitudine di scandali, sia recenti che passati, ha danneggiato la reputazione delle tradizionali lotterie centralizzate. Le lotterie convenzionali non sono molto migliori in questo senso: nel 2017, Eddie Tipton, l'ex responsabile della sicurezza delle informazioni dell'American Multi-State Lottery Association disegni della lotteria in Iowa, Colorado, Wisconsin, Kansas e Oklahoma, guadagnando $ 2 milioni di vincite illegali prima di essere catturato. Come è possibile, quindi, evitare che una parte centrale effettui "complotti" nei confronti degli utenti?

La soluzione



LOTEO is a fully automated lottery platform that uses blockchain and a smart contract to create a completely transparent lottery, where your chances are incomparably higher than those of traditional lotteries.

There are several problems with “classic” lotteries that have been overcome with the help of LOTEO.

The possibility of winning. Unlike regular lotteries, in which you bet against an unknown number of numbers drawn, in LOTEO you bet only against other purchased tickets, the amount of which is several thousand times less than the number of potential winning combinations in standard lotteries. Thanks to the blockchain, the system is transparent, and you can track all transactions. You have a chance to win every time a lottery is held, because you only bet against a certain number of participants.

Transparency. All transactions and rewards are visible on the blockchain at any time.

Trust. Managed by a smart contract, not by governments or individuals, the drawing process becomes automatic.

How does the lottery work with Loteo?
Users participate in the lottery by purchasing individual tickets for the weekly LOTEO lottery using the Ethereum cryptocurrency. Thus, every Ethereum wallet address that has acquired a registration is registered as a participant in the weekly lottery. Later, LOTEO will add a daily lottery regulated by the same rules. The LOTEO Weekly Lottery will be conducted under a smart contract, which will use a certified random number generator (RNG). After selecting the winner of the lottery, unp smart cotnract will automatically send the prize to the appropriate Ethereum. All code will be publicly available on GitHub and Etherscan. The prize will be divided as follows:



75% lottery winner

20% of LOT owners (each won prize will be redistributed among LOT owners, proportionally to the number of LOTS owned by each user)

1% is given to a charity chosen by the LOTEO community.

4% are reserved for affiliate programs.

How does the affiliate program work?

For the first ticket purchased by a registered user via an affiliate link, the partner will receive 50 LOTEU (service token) + 4% of the cost of each ticket purchased at ETH, and a new registered user will receive 100 LOTEU. Note: every 100 LOTEU (2 registered users) double the chances of winning. During a control sale of LOTEPASS, each affiliate partner can request 500 LOTEU and 4% of the cost of each ticket at ETH.



The partner has the right to a remuneration for each sale of the LOTEOMAXX wholesale package. However, the bonus for the wholesale package (10, 20, 50, 100) can only be requested once per user per year. There are no restrictions on 4% of the cost of each ticket at ETH.

Token Economics

There will be 2 tokens:
Loteo Security (LOTES)

Loteo Utility (LOTEU).

Safety sign

LOTES is a security token that will only be sold in the private financing round (STO) to taxpayers accredited by venture funds. There will be no public sale. This token gives owners the opportunity to protect themselves from participating in the lottery without being present for an amount equal to 20% of the total value of each prize. Lots are blocked for 15 months, and during this period it is impossible to buy them or sell them elsewhere. After the first 15 months, another round of private sales will be held, during which LOTEO unlocks 30% of all tokens that will be sold to accredited employees. After the sale of these tokens, the token will be listed on various exchanges.

Service token



LOTEU is a service token that will be used for marketing purposes. When you buy an additional entry in the lottery 100 LOTEU, double your chances of winning the lottery. Many drops of this token will be made directly to the community and through LOTEO marketing partners, and there will be many contests to be awarded to LOTEU. LOTEU tokens will also be distributed as part of campaigns for a reward in accordance with the LOTEO marketing plan and official announcements via communication channels. There is a long-term plan for future bids with LOTEU for the purposes of the B2B platform, which will be indicated before the start of the second round of project financing. The price of 1 LOTEU is not specified precisely, since there is no sale event, the market will set its price, but the current value of one LOTEU is indicated at € 0.1.

I finish the article, considering Loteo a very interesting project. There are various lottery projects based on the blockchain on the market, but if Loteo fulfills the promises of the White Paper, this will undoubtedly become one of the leading projects. I remind you that the platform is already up and running, and you can participate in the lottery by going to the following address during registration!

Links to official project resources:
Website: https://www.playloteo.com

WhitePaper: https://www.playloteo.com/documents/loteo-wp-en.pdf

Twitter: https://twitter.com/loteomission

Instagram: https://www.instagram.com/loteomission/

Facebook: https://twitter.com/loteomission

Telegram: https://t.me/loteomission

LinkedIn: https://www.linkedin.com/company/loteo-net/

Reddit: https://www.reddit.com/user/LOTEO

YouTube: https://www.youtube.com/channel/UCveQW_4wrc-ZYCo0sac6exQ

Bitcoin talk (ANN): https://bitcointalk.org/index.php?topic=5116114

Author : moxx.ndok
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ETH : 0x12F17750f92152B0dD6dB58E284232308a8D40b8