Wednesday, 9 May 2018

WHAT IS ETHERAFFLE?


WHAT IS ETHERAFFLE?
Lotteries are an extremely profitable industry, with a market cap in excess of
$279.9B N1 c.2015. So profitable in fact that many provide a stream of revenue that is given over to funding of various sorts. However the size, allocation, usage and these funds is controlled entirely by and at the discretion of companies whose internal policies and decision making are private and opaque. Charitable entities share similar opacity concerns – their not-for-profit nature belie the issue of a donor not knowing whether their contributed funds helped their intended recipient or pad the salaries of managerial staff instead.Both of these concerns are solved by the transparency and immutability afforded by blockchain technology, and are at the core of what Etheraffle & EthRelief intend toaddress.

Running such enterprises on the blockchain also manifest a host of other benefits:
Provably Fair – Everything occurs in the public domain.
Auditable – Smart-contracts are open-source by default.
Logistically Scalable – Ethereum knows no borders.
Low Overheads – No physical infrastructure required.
WorldwideMarket – Ethereum’s network spans the globe.
Impartial – Code execution is objective, always.
No downtime – It is impossible for the ethereum network to go offline.
No censorship – Extreme transparency
Democratic– There are no privileged ethereum addresses.
VISION
Etheraffle, the world’s first charitable blockchain lottery. Decentralized and powered entirely by smart-contracts on the blockchain. Built to provide funding for EthRelief: A DAO controlled platform for charitable giving and largest source of
decentralized altruism in the world.
GOAL
Etheraffle is an already functional, ethereum based, blockchain lottery platform whose goals going forward are threefold:
❍To fully decentralise all platform logic by migrating onto the Swarm content distribution service as it develops whilst the same time dissolving the ÐApp ownership and contract-control to a voting-based, smart-contract powered,permission-less, democratic autonomous organisation formed of and run by the Etheraffle LOT token holders.
❍To continue providing players with a simple and intuitive user experience that is designed to be navigable by anyone including those completely new to the ethereum ecosystem – giving opportunities to win large prizes whilst their ticket
sales go on to provide a host of benefits for both the Etheraffle LOT token holders and for Etheraffle's sister company, EthRelief.
❍To continue growing the ÐApp’s market-share, profitability and usage worldwide in order to drive more funding to the EthRelief portal and effectively incentivize the LOT DAO running it.The nascent EthRelief platform’s goal going forward is singular:
❍To create and provide the largest source of decentralised altruism on the blockchain, funded by Etheraffle, controlled and managed entirely by LOT token holders’ votes as part of the LOT DAO, in order to ultimately dispense continuous
and democratically-decided charitable donations worldwide.
ETHERAFFLE ICO
The Etheraffle ICO involves the exchange of ether for the ERC223 LOT token. ICO participants, and LOT holders, will eventually form the Etheraffle DAO – the decentralized custodians of the ownerless and trustless Etheraffle and
EthRelief platforms. Owning LOT guarantees membership to the LOT DAO. Any and all participation in the DAO is entirely voluntary. Active participation is rewarded in ether, relative to LOT holdings (see section disbursal 2.09).
The ICO structure consists of three tiers with corresponding exchange rates. The spread of the exchanges rates is narrower than is typical of past ICOs, so as not to prejudice final tier participants. Instead, the Etheraffle LOT token offers a unique,tiered, stacking bonus system, about more which see section 4.4.Purchasers may purchase LOT tokens from as many tiers as they wish, and so can become eligible for multiple bonuses. Any LOT purchased via the ICO contract are
transferred to the purchasers wallet as soon as the transaction is mined. Any bonus LOT becomes available for redemption upon completion of the crowd sale.
The Etheraffle ICO has a minimum entry of 0.025 ether. This lower threshold is to encourage as wide a cross section of ethereum users as possible, enhancing the quality of the DAO.
The ICO contract’s address:
0xA4F902f57Fd9FFcedF4dE6cF7EbC86ea9F76B5d1
4.2 Key Dates
Pre—ICO Begins:Monday 19th of February 2018 at 00:00
Tier 1 Begins:Thursday 29th of March 2018 at 00:00
Tier 2 Begins:Thursday 12th of April 2018 at 00:00
Tier 3 Begins:Thursday 3rd of May 2018 at 00:00
ICO Deadline:Wednesday 30th of May 2018 at 23:59
Redeem Bonus Deadline:Wednesday 14th of June 2018 at 23:59
FOLLOW ETHERAFFLE ON:
Explainer Video

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