A Provably Fair Contest

Steve Sofocleous
Beaxy Exchange
Published in
3 min readJun 6, 2020


No purchase is required to participate in the contest.

Beaxy, a U.S. based exchange, and Dragonchain, a U.S. based blockchain company, have collaborated to establish crypto’s first Provably Fair Contest.

The Dragonchain platform features on-chain proof of fairness, enabling the contest’s results and processes to be audited, publicly reviewed, and confirmed. The system combines future hashes of a predefined block height on all current Dragonchain Interchains (i.e. Bitcoin, Ethereum, Ethereum Classic, and Binance Chain) providing provable randomness to the selection. It is not possible to know the hash of a block height for a single blockchain, much less all four combined prior to the block being created, thus making it impossible to profitably cheat the system.

Participants will be eligible to enter the contest starting on June 6th. One winner will be announced every Wednesday until the contest’s final drawing on July 8th, 2020.

With 97,434 DRGN tokens up for grabs, the Provably Fair Contest will payout nearly $10,000 worth of rewards. To enter the contest, simply register an account on Beaxy. You can earn an additional entry credit by holding at least 1,000 DRGN in your Beaxy account for the duration of the contest.

With a focus on the 4th of July, this contest offers a grand prize that is thematic of America’s inception. The thirteen original colonies claimed their independence from England on July 4th, 1776. This year’s celebration marks 89,119 days from the declaration. Therefore, on the Wednesday following the 4th of July, 2020, one lucky winner will receive 89,119 DRGN tokens!

Full payment schedule:

June 6th— The contest begins and participants can gain eligibility.

June 17th— One winner will receive 1,425 DRGN.

June 24th— One winner will receive 2,744 DRGN.

July 1st— One winner will receive 4,146 DRGN.

July 8th— One winner will receive the grand prize of 89,119 DRGN!

*There is no purchase necessary to participate in the contest. One entry credit will be given to anyone who registers an account with Beaxy during the contest. An additional entry credit is applied to accounts holding at least 1,000 DRGN for the duration of the contest.

Participation eligibility:

  • Participants must be 18 years or older and compliant with local laws and regulations.
  • Participants must have registered an account with Beaxy during the contest to gain eligibility. An additional entry credit is given to accounts that hold at least 1,000 DRGN on Beaxy throughout the duration of the contest. DRGN tokens can be purchased on Beaxy here.
  • Participants must not reside in a country listed on the US Dept of Treasury Office of Foreign Assets Control Consolidated Sanctions List. https://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/consolidated.aspx
  • Dragonchain and Beaxy Exchange employees and contractors, as well as immediate family, are not eligible to participate.

For additional information on privacy, disputes, limitations of liability, general conditions and releases see the Dragonchain Terms of Service at https://dragonchain.com/terms/