The Toast lottery creates a way to burn and buy back $TOASTz while rewarding winning participants.
- Lottery Ticket Fee for 1 ticket: 10 TOAST
- Single User Lottery Entry Limit: No overall limit, however only 50 tickets can be purchased at one time through the UI
- Paying for one ticket will give users a random 4 digit combination with each digit being between 1 and14 (example “5-3-12-6”)
To win the lottery jackpot (50% of the entire lottery pool), users need to match all 4 numbers on their ticket in the exact same order as the 4 winning numbers.
If you don’t match all 4, no need to worry. As long as you match 2 or more numbers in the correct order, you are guaranteed to win a prize.
In order to win any of the prizes, a user must match the 4 numbers on a ticket with the winning numbers (must be in the same position, order DOES matter).
There are prizes for matching 2 and 3 numbers in the corresponding positions!
- Match all 4 numbers in the exact order = win 50% of the pot (or split the pot if more than 1 winner).
- Match 3 numbers in the exact order = win or split 20% of the pot.
- Match 2 numbers in the exact order = win or split 10% of the pot.
- Burn the remaining 20% of the pot.
Please note - in the event that no participants were able to match 3 numbers on any draw, the 20% allocated to winners will then be burned accordingly.
For example, if the final 4 winning numbers are “5-3-12-6”:
- “6-12-9-5” = match 0
- “5-3-12-6” = match all 4
- “5-3-6-6” = match 3
- “6-12-12-6” = match 2
- “5-3-5-6” = match 2
The lottery will occur every 24 hours with the winning number draw occurring at 02:00 UTC! Right after the winners are selected, there is a 1 hour period where ticket purchases are unavailable.
An example of the a lottery session is below:
Phase 1 - Purchase Tickets (1 hour after the previous draw ends, between 03:00 UTC - 01:59 UTC)
- You have 22 hours and 59 minutes to buy tickets (starting at 03:00 UTC).
- For every 10 $TOASTz spent, you will receive 1 ticket.
- Every ticket purchased is added to the lottery jackpot, which you can see in the upper right of the page!
Phase 2 - Lottery Draws (02:00 UTC)
- The winning lottery numbers are drawn and will appear on the page.
- Each participant’s winnings will be automatically calculated based on their ticket numbers and shown on the page.
- If you won you can claim your winnings! Go tweet and share that you won!
- Additionally you can see the total results of all users who matched 2, 3 and 4 numbers
- The next lottery will start immediately after
The lottery aims to be completely random. Even though the ticket numbers given out are determined by a front-end logic, there is an extremely low chance that anyone is able to determine the 4 winning numbers ahead of time.
- The 1st lottery number will be determined based on the %10 remainder of a hash encoded by the blockhash and the number of participating users at the entry deadline.
- The 2nd lottery number will be determined based on the %10 remainder of a hash encoded by the blockhash and the total pooled $TOASTz balance at the entry deadline.
- The 3rd lottery number will be determined based on the %10 remainder of a hash encoded by the blockhash and the timestamp of the last lottery participant at the entry deadline.
- The 4th lottery number will be determined based on the %10 remainder of a hash encoded by the blockhash and the block difficulty at the entry deadline.
What happens with the prize if there is no winner?
It gets automatically rolled over to the following lottery draw.
What's the max number of tickets I can buy for the lottery?
There is no maximum, you can buy as many lottery tickets as you want!
When next lottery?
The lottery is drawn every 24 hours.
The tokens are burned manually after every draw, or is it automatic?
The tokens are burned automatically after every lottery cycle.
I have numbers on my ticket that match the lottery draw. Why am I not a winner?
The matching numbers must match in order to win. If this is still not the case after double-checking, please get in contact with us.