HotLotto.eth is listed at 1ETH.io for 1 million. HotLotto.eth is a Ethereum Domain Name, similar to DotCom Domain names, except for now it can only be used to receive Ether, an altercoin like bitcoin.
The idea is to replace Ethereum address i.e. 0xffedb9a817e3e207ae56284193804f5973ce8e38 with easy-to-remember ENS Domain Name. As one would see after search HotLotto.eth from EtherScan.
Clearly this is not sufficient to make HotLotto.eth worth 1 million.
An interesting note from ENS creator Nick Johnson in his “State of the ENS: Week 8” is worth mentioning here. Swarm enabled ENS on mainnet could “provide solutions for web 3.0 with decentralised infrastructure, peer-to-peer storage and is DDOS-resistant, zero-downtime, fault-tolerant and censorship-resistant as well as self-sustaining”.
This would help HotLotto.eth worth more in future. But still not 1 Million. What is valuable here is the biz idea and use case around HotLotto.eth.
Here is how HotLotto.eth works:
Instead of people buying ENS Domain from 1ETH.io, HotLotto.eth draws one lucky winner every Saturday. The EtherScan transaction matching Sat. 7/15 hotball number wins.
Step #1: Interested parties send 0.01 Ether to HotLotto.Eth using MyEtherWallet or MetaMask.
Only use MyEtherWallet or MetaMask here. Parity doesn’t recognize ENS Domain Name as Recipient address yet. Ether amount sent other than 0.01 ether will be refunded to the sender address. One may use Parity sending to Ethereum address 0xffedb9a817e3e207ae56284193804f5973ce8e38 instead of HotLotto.eth. But Do Not send from Exchange, as exchange address can’t be used to refund or assign ENS Domain Name in case you win. Make sure you have full control over the Ethereum address and AGAIN it is not from an exchange.
Step #2: Check winning number on Sat. 7/15 after 10 pm EST to match your successful transaction on EtherScan.
Green IN icon indicate success, failed transactions are not counted for. If Hotball number of Sat. 7/15 is 4, and you are the 4th transaction counting from the first one from the very bottom, you win!
Step #3:
All set here. Nothing for you to do. Winning ENS Domain will be assigned to winner Ethereum address within 24 hours. Winner assumes full control of the ENS Domain Name after that. 1ETH.io & HotLotto.eth is not responsible for anything after.
7/15 Sat. HotLotto.eth winning ENS Domain name is: FrenchRepublic.eth (payment valid if made before 10pm EST Sat 7/15)
Considering Chinese.eth value 5555.55 ether and paid for 33.33, we’ll have a big winner here.
Have Fun playing HotLotto.eth!
P.S.
Possible Concerns:
Why limited to 19 transactions?
HotLotto hotball number is drawn from 1–19.
What if more than 19 transactions?
Transactions after 19 will receive Ether refund minus gas fee.
What if total transactions are less than 19 and no one wins?
You lose 0.01 ether.
What if this is a scam?
According to scammers, no one will go through these effort to scam 0.19 ether and ruin their reputation.
Advantage:
No more waste of gas fee in ENS auctions, no more waiting for reveal, no more losing money when forgetting to reveal, and pay less for interesting ENS domains.
Useful Tips:
Game starts after this medium article published by MOR will also announce at @1ETH_io
Check Etherscan how many transactions already before you pay. If more than 19, then this game is over. Wait for the next one announced at @1ETH_io
If using Parity sending to Ethereum Address, 0xffedb9a817e3e207ae56284193804f5973ce8e38 use copy paste and verify before sending. Do not send ether to fake address and scammers.
Send only 0.01 ether. Amount over will be refunded.
We will see how this goes and if this is accepted by the Ethereum Community.
