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I’ve created a worldwide DeFi lottery system on ETH that can be entered by simply holding an ERC20 token, and am giving it out for free

We released it as a token called LOTTO. You can claim a small amount for free if you held any DeFi tokens like LINK, AAVE, UNI, COMP, SNX, etc during the snapshot on January 18th, 2021 at 6 AM EST: [LOTTO Claim Page](https://www.lotto.finance/claim)

Here’s how it works:

On Tuesdays and Fridays at 8 PM EST, the startGame() function (built into the LOTTO token code) is called. This function pulls 5 LOTTO from all user balances, pools it together, and gives it all to one user at random. This means if you hold LOTTO in your wallet that you can check your wallet one day and see thousands of dollars worth of LOTTO just appear there. Right now the jackpot is at 13450.50 LOTTO, which is $2421.09 at the current price on Uniswap. It’s been getting bigger every week as the number of token holders goes up- we just passed 2800 LOTTO holders 🔥🔥🔥

It’s the most entertaining token you’ll own, and we host the lotteries each week in the Discord/have a voice chat party starting 1 hour before each lottery.

It’s listed on [Uniswap](https://info.uniswap.org/token/0xb0dfd28d3cf7a5897c694904ace292539242f858) and a few other exchanges like [Whitebit](https://whitebit.com/trade-pro/LOTTO_USDT?type=spot). I’m open to answering any questions you guys might have about this!



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45 Comments

  1. Pretty cool idea. I think something like this would be “newsworthy” eventually. This is the sort of thing that can showcase smart contracts in very simple ways and terms. Nice work! Pleasantly surprised to see XIO on the claim list, too. Good stuff.

  2. How are you able to deduct LOTTO out of my wallet? Is there another project using the startGame() function or somewhere I can read about it more?

    Where does the deducted LOTTO go?

  3. Here’s the problem. I have been waiting for like 2 months to claim my lotto but gas fees are too damn high to actually claim them.

    I desperately want to participate too

  4. This is very cool. I love it when people build new and interesting things and share them with this community. I don’t know where you’re located but it will be interesting to see how your local gambling laws apply to you when you get on someone’s radar. I will give it a try and follow your developments. For now, here’s an award for your spirit of innovation. We need more people like you!

  5. I saw this on an airdrop page. Im eligible but waiting for the gas fees to go doen. Good to know that th rclaiming of the token will be possible at a later time

  6. Wouldn’t making each wallet lose 5 Lotto incentivize people to pool together into one large account and lose less percentage each time they lose 5? This could probably even be done in a smart contract to make it even easier to cheat.

  7. I really wish I had any DeFi tokens in my Metamask wallet during the snapshot because I think this is such a cool idea.. but with fees being $45+ I can’t justify it.

  8. I just wish I had my uniswap etc in a wallet where I could actually claim this instead of Coinbase. Well you guys always say “Not your keys not your coins” kinda my fault.

  9. If my coins were in an LP will i still be eligible for the lotto airdrop?

    Seems I am not, I held some XIO in my wallet at the date of the snapshot – put provide 90% of it in an LP on uni.

  10. I hope this doesn’t sound depressing, but I’ve invested in a dozen provable gambling sites ICOs in 2017 because I liked the business case. All of them failed or exit scammed.

    That being said, I still see a good business case here so wish you to best of luck!

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