Introducing Shiba Lottery, Blockchain Based Lottery Network
Shiba lottery launches as a lottery network leveraging the concepts of no loss and price saving accounts. According to the platform’s web page, you will be required to hold some $SLOT token and earn $SHIB. If you fail to gain the prizes, you still get to keep all your funds. This is one of the first lottery platforms that openly offers lottery services on zero risk.
How The Lottery Generates Rewards
Generally, the Shiba Lottery network introduces a gambling network quite distinct from others. As mentioned above, the platform uses its native tokens $SLOT, combined with $SHIB to provide services.
First, the network sets an excellent system to collect prize funds, which will reward investors. According to them, they charge a 10% tax for every buy or sell transaction. 2% tax automatically goes to the daily prize pool.
Accordingly, the platform charges an 8% and makes third-party investments. The investments will bring long-term returns, and the ROI of the funds will go to a weekly prize pool. By investing the funds, the network ensures growth and long-term sustainability.
Participation and Lottery Winners
Shiba Lottery makes it simple for investors to participate in the lottery and win. The investor needs to hold some $SLOT token to join the lottery pool. According to their website, each of the $SLOT tokens represents a ticket with equal chances of winning the lottery. Hence, to win more rewards, you need to hold more tokens.
The Shiba Lottery selects 13 tickets which have the right to win 13 pool prizes. According to the network, this pool amount will be distributed as follows;
- First Prize. The winning token will get 50%v of the total amount in the pool.
- Second Prize. The second token selected will win 20% of the pool amount.
- Third winner. The second runners-up token will earn 10% of the total lottery pool.
- Fourth to the thirteenth winners. According to their page, the fourth to thirteenth winners will use 1% of the lottery prize.
After deducting the 90% used as price funds, the rest of the 10% will always help for different purposes. According to the network, 5% of the pool will help in development. Finally, 5% of the network will go to the buyback and burn fund. It will help purchase the $SLOT token from circulation to burn them. The burning mechanism ensures the token is continuously deflationary.
The $SLOT Token and Tokenization
The Shiba Lotter Network instills a native token dubbed SLOT, which will help handle a wide array of services within the network. The primary use of this token is to give prizes to investors. This token also helps in exchanging and trading within DEXes. $SLOT token has a total supply of 1 billion. These tokens are apportioned as follows;
- According to the network, around 2.52% of the tokens help raise funds in a private sale.
- Later, the network takes a presale to sell 40% of the token.
- 25.48% of the token will also be sent to the Pancakeswap DEX as liquidity.
- Another 8% of the tokens go to the development wallet. The funds will aid the developers to continue creating this network and its features.
- $SLOT also sets aside 4% as community incentives
- The network also has a reserve. 20% of the tokens will go to the reserve for emergency purposes.
Other Features in The Network
One of the most exciting aspects of this entire project is the team. According to their web page, the team around this whole project is fully KYCed. All of the team members will undergo the KYC scan, which involves checking for exposure to money laundering. The report indicates that the team is clear from exposure.
Smart Contract Fully Audited
On top of the networks KYC, Shiba Lottery smart contract also took an audit. According to their social media pages, InterFinetwork audited the Shiba Lottery contract. The audit report indicates that this platform is audited and secure.
Incoming Play 2 Earn Game
The network is in plans to introduce a P2E game for its investors. This game will involve playing while earning income in the process. $SLOT tokens and NFT will be the main assets used within this gaming network. Gamers can be ready to play while they earn good incomes.
NFT and Metaverse
As the idea of the metaverse is gaining adoption at a fast rate, Shiba Lottery will aim to maximize that. Shiba Lottery will develop NFT and Metaverse for gamers and creators. However, those will come later in the progress of this network.
How to Buy $SLOT Token
The purchasing and owning of $SLOT tokens is relatively easy to allow more investors to participate. Here are the few steps involved;
- Create a Metamask wallet. Every person intending to purchase, sell and own the $SLOT token must have a Metamask wallet.
- Ensure you have BNB in your wallet. Once you create the wallet, set it to the BSC chain, and get some BNB coins.
- Connect your wallet to Pancakeswap.
- Swap your BNB to obtain the $SLOT token.
This guide explored the Shiba Lottery network and its benefits for investors. The network has a proper system of generating rewards and makes it simple for investors to participate. Accordingly, several benefits are associated with the network, including security and zero risk lottery.
According to the network, they will be introducing a Metaverse and play-to-earn game in the future. Follow them on the social media channels listed below to see the development.
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