Umbrella Network Announces Exclusive NFT Lottery on Bounce for Community Members
We’re doing something special for our earliest fans.
Umbrella Network has seen an overwhelming response to our upcoming IDO for the $UMB token, which will be held on 9th February 2021 on Polkastarter. Both rounds of whitelisting filled up quickly, with 110,000 applications submitted. But this did mean some of our earliest supporters did not get chosen for a whitelisted address, unfortunately excluding them from the IDO altogether.
Whitelists are important to the IDO process because they prevent bots from gaming our system, which really matters a lot. At the same time, it would appear we underestimated the amount of support we would receive from our community — not everyone will be able to participate. It’s a tough problem to solve for those who have been in our chat as early as October. Our IDO has garnered a lot of attention, and we want to make sure the OGs of our community get to participate.
So to ensure our most loyal followers get their fair shake, we will be hosting a special NFT (Non-Fungible Token) lottery auction on Bounce that’s available exclusively to the first 1,000 members who joined our Telegram group. In this kind of lottery, participants deposit a fixed amount of USDT each to enter into the drawing. At the end of the lottery pool’s running time, the winners are randomly selected by a smart contract and their principal is automatically swapped for the auctioned NFT tokens. To join the Bounce whitelist, please go to our google form here and input your Telegram Username and wallet details. We already know who the first 1,000 TG members are so only fill out form if you are one of them. We will remove anyone who isn’t.
400 people will be selected at random to receive exclusive NFTs featuring artwork from a well known graphic artist. Umbrella will auction off 400 NFTs in total, with 250 going to our pool of 1,000 members, and 150 going to a separate pool of Bounce BOT token holders. Each NFT holder will also receive an additional bonus of 5,000 UMB tokens after the lottery on 12th February, Chinese New Year — definitely a great start for the Year of the Ox. Please note, whichever wallet address is holding the NFT at Midnight UTC 12th February will be able to claim the 5,000 UMB tokens. The step by step process for claiming will be communicated shortly before 12th February. Please also note that there are a lot of scams happening around these NFTs, so make sure you are holding the authentic NFTs and not a fake -> Please check here.
This auction is zero risk. If you participate and don’t win, you will receive your principal back from the pool. Additionally, 100% of the proceeds raised from the auction will go towards funding our Community Arts program, which is being established currently to foster contribution and output from our community to help develop Umbrella’s creative assets.
NFT Auction Details
Place: https://certified.bounce.finance/
Time: UTC 2:00PM Feb 9th, 2021
Lottery Sale time length: 1 hour
Number of Lottery pools: Two Pools
Pool 1: 250 NFTs available to 1,000 of Umbrella’s first Telegram Community Members
Pool 2: 150 NFTs available to 1,000 Bounce BOT holders
Google Verification Form: You must go HERE to get verified and whitelisted for Umbrella’s Telegram Community. Only fill this form if you are one of the first 1,000 members.
Additional Rules
1) The lottery pool will open for 1 hour. Qualified participants can enter into the drawing during this window. Access will close if participants reach the maximum number allowed.
2) Time of entry does not affect the probability of winning. Selection of winners will be random.
3) Participants can check the results when the lottery is finished. Winners can claim their NFTs. Those who did not win will receive their principal back.
4)The cost of the lottery is the gas fee consumption for entering and withdrawing the lottery for all participants.
5) Once you enter the lottery, your funds will be held until the lottery ends.
For more details information on how Bounce runs the lottery, please go here.
We can’t overstate the importance of our community and how it drives our next-generation oracle service. This NFT auction is just one way of saying thank you to the true believers who have been following us since the beginning. There will be other ways for our community members to contribute and earn UMB as our project continues to develop, from Community Arts, to Ambassador programs, and much much more.
Stay ahead of our latest updates. Follow Umbrella on:
Telegram | Twitter | TG Announcement channel | Website
For any inquiries, please contact us at marketing@umb.network
