The Drop
A lottery style game, all on chain with a provably random draw system and prizes up to $1Bn.
- A draw system that uses Chainlink VRF (Verifiable Random Function) to fairly and transparently select winners.
- Prize wallets that are funded and fully backed through ticket sales — no subsidizing through NFTs or any other funny business (only puns).
- A flat 20% administration fee is added to ticket sales that covers all of the operational costs.
- A single guaranteed winner for every drop. Winner takes all!
- Entirely on chain, giving full transparency and an audit trail of all winners and prize distributions in perpetuity.
Players use native BilliDrop tickets to purchase entries into a prize draw called The Drop. Entrants can watch prize wallets fill in real-time and have complete visibility as to how and where prize money is awarded. Once the prize wallet is full, a winning entry is drawn using a provably random draw system.
BilliDrop places a 20% administration fee on top of ticket purchases. A single winner receives the full prize in stable coin and distribution is public and visible to anyone.
How to Play
We’re making The Drop as accessible as possible to everyone that wants to play, not just those in the Crypto and DeFi space. We are integrated with Moonpay and other payment providers so that all you need is a credit card or accepted payment option with them to start playing, no previous knowledge of crypto needed. For crypto-savvy players, the buy-in to The Drop is simple and intuitive with the standard one-click authentication methods of MetaMask and WalletConnect.
Your BilliDrop account features a custodial wallet that enables you to store purchased tickets using a variety of onramps determined by geographic location. This facilitates the use of fiat, common cryptocurrencies, and other payment methods depending on local regulations. Every ticket costs $1 USDC + an administration and infrastructure fee (which will reduce over time). The initial fee is 20% for a total cost of $1.20 USDC per ticket.
How It Works
Purchasing Tickets
Players can enter The Drop (or other games on the BilliDrop platform) by purchasing tickets.
Upon purchase, funds are converted into USDC, which is stored in an escrow wallet, your ticket is transferred to your BilliDrop wallet balance, ready to be redeemed for entry into The Drop.
Entering The Drop
The target prize wallet amount for the current instance of The Drop will be available and visible to players prior to entry, as well as the amount currently held in the prize wallet and the rate at which it is increasing. A $500,000 prize wallet will fill and pay out much faster than a $1m prize walled and elicit a different style and strategy of play. When players choose a number of tickets to enter The Drop with, those tickets are burned and the correlating USDC for each ticket is transferred from escrow to the non-custodial contract pertaining to that instance of The Drop being entered. An internal ledger within the smart contract tracks entries per address.
Winning The Drop
Each instance of The Drop has a pre-defined prize target and winner selection is triggered when the wallet balance of The Drop reaches that prize target amount.
For example, an instance of The Drop with a $1,000,000 prize target triggers when its associated wallet balance reaches $1,000,000 USDC. In order to select the winner for The Drop, a weighted value is sent to an on-chain oracle (currently the Chainlink Verifiably Random Function (VRF)) against a list of participants based on entries. Once the data is sent and a participant is selected, the winner claims the entire prize wallet balance for The Drop!
How Do I Increase My Odds of Winning The Drop?
Holders of BilliDrop NFTs with baked-in multipliers (such as those in The Herd collection) are presented with the option to validate ownership of the NFT token within their BilliDrop account prior to entering The Drop. The weight attribute of your goat increases its multiplier effect in the exchange of tickets for entries. The larger the multiplier, the more entries will be received for every ticket burned. NFTs serve to increase the ratio of tickets to entries but do not multiply or affect the amount of funds transferred from the ticket escrow balance to the prize wallet.
Example:
- Player uses 10 tickets to enter The Drop and uses a validated NFT with a 3x multiplier.
- $10 USDC is transferred to The Drop prize wallet
- Player gets 30 entries into The Drop entrant ledger.
Other Ways to Get In On The Drop
Players will also be able to buy entries into The Drop with $CHEESE (an in-platform ERC-20 Utility Token). $CHEESE can be generated from NFTs, or won from other players or games on the BilliDrop platform. NFTs from all tranches will generate $CHEESE daily at a rate dependent on their weight attribute. More information about $CHEESE can be found in the article about the Goat Farm (coming soon to a Medium near you).
