BZE Burning Raffles 🔥

beezee
beezee Community
Published in
2 min readOct 2, 2024

We are excited to announce the launch of the first burning raffle on the BZE blockchain! 🎉

Last month, the BeeZee network was upgraded to version 7.1.0, bringing a new, fun feature for the BZE community. You can learn more about it in this article.

What is a Burning Raffle?

A burning raffle allows users to create raffles with their favorite coins, whether it’s the native BZE coin or another token created on our network through the token factory.

How to Create a Burning Raffle:

To start a burning raffle, the creator needs to provide:

  • Pot: The initial amount of tokens for the raffle.
  • Duration: How long the raffle will be active.
  • Chances: The odds of winning per ticket out of 1,000,000.
  • Ratio: The percentage of the pot a winning ticket will receive.
  • Ticket Price: The cost of each ticket.
  • Denom: The type of coin used in the raffle.

When the raffle is created the initial pot is deducted from creator’s balance. After creation any user can buy a ticket through BZE App, in the burning section.

Joining a Burning Raffle:

To participate, users can buy tickets for a chance to win a prize. Each time a ticket is bought, its price is added to the pot. After two blocks, the blockchain determines if the ticket is a winner. If it is, the user wins a portion of the pot based on the ratio set at the start, and the remaining pot stays locked for future prizes.

When the Raffle Ends:

All raffles have an end date, determined when they are created. When a raffle ends, any leftover pot that wasn’t won will be burned. The amount burned and the block height will be recorded on the blockchain and displayed in the “Burner” section of the BZE app.

Feeling Lucky?

Why not try your luck and see if you can win the big prize? Even if you don’t win, you’ll be part of a burning event on the BZE blockchain. But if you do win, you’ll have a nice reward to stake and grow your influence in the BZE community.

To join:

  1. Visit https://app.getbze.com/burner to see if a raffle is open.
  2. Connect your wallet to the app.
  3. If there’s an open raffle, click “Try your luck” to buy a ticket. Your wallet will prompt you to approve the transaction.
  4. Once approved, the ticket price will be deducted from your balance.
  5. Wait for 8–15 seconds while the blockchain decides if you’re a winner.

Whether you win or not, you’ll be part of a fun event that fights inflation, with fair results determined by the blockchain.

If you don’t have BZE yet and want to give it a try, visit our website: https://getbze.com

First time hearing about us? Visit our website to learn more about BZE.

Feel free to engage in a discussion with us on any of our communication channels: Twitter, Medium Publication, Discord or Telegram.

--

--

beezee Community
beezee Community

Published in beezee Community

Cutting Edge Cryptocurrency. Ultra fast, secure and low cost blockchain aiming to provide a complete digital ecosystem.

beezee
beezee

Written by beezee

Cutting Edge Cryptocurrency. Ultra fast, secure and low cost blockchain

No responses yet