Lottoken token distribution and usage

Lottokens tokens will have multiple users:

Organizers of the contests:

• They may seed the contests by contributing. a portion of the winning prize with Lottoken tokens.
• They will use the Lotto tokens to pay various fees like random number service fee (currently ZERO).

Participants of the contests:

• They will use Lottoken tokens for paying participation fees.
• They will use Lottoken tokens for buying the tickets in order to contribute to the winning pool.

Developers who will want to build features and contest templates on the platform

• Transparency and openness are the core foundations. of the Lottoken service. Therefore Lottoken software will always be opensource letting other developers to contribute. Lottoken will reward developers who fix bugs and add features with the Lottoken tokens.
• Developers providing value added services like random number service can collect their fees in Lottoken tokens.

Sponsors: Sponsors are individuals or organizations who would support contests and typically contribute additional lottokens to a contest’s pool proportional to the size of the pool. This is very popular in non-profit fundraising where philanthropic organizations offer matching funds.

Distribution

Here are the current allocation plans for the Lottoken tokens:

Sponsors/Organizers/Participants: 35%

This group of consumers will be able to purchase 50% of this quota of tokens through first round of ICO. There will be other rounds of coin offerings from this quota in future.

Developers: 20%

We believe that the developer community will be crucial to making the Lottoken service work for variety of needs ranging from visa allocation, school admissions to organ donor selection. Hence we want to heavily incentivize the developers to enhance our platform.

Internal Lottoken: 45%

This quota of tokens can be used for platform development, future applications or testing purpose.

This will also be used pay variety of fees and costs to make Lottoken platform run smoothly for its consumers

ICO Plans

Detailed ICO plans are in a different document and webpage.

The terms of the ICO are:

Number of Lottoken tokens offered is not fixed.

Method of offering : Fixed price at 0.01 ether per token face value

Fractional quantity of Lottoken can not be bought in ICO but can be later on purchased/sold on exchanges

Number of Lottoken tokens sold will determine total Lottoken token supply.

Number of Lottoken tokens sold in this ICO is 50% of the quota allocated for

Sponsors/Organizers/Participants

If 35.000,000 Lottokens get sold, total Lottoken supply will be 35,000,000 * (1/.5) * (1/.35) = 200,000,000

Pre ICO

We will have a limited duration Pre ICO during which we will be offering Lottokens at a special bounty rate of 150 lottokens for 1 ether.