Frequently Asked Questions
What do I need to Play?
UniqLot is a dAPP (decentralized application) that lives on the Eteher-1 Network. In order to play our game, you need a Metamask plugin or an Ether-1 wallet.
If you are using Chrome or Firefox, you can download a plugin called Metamask, that will enable you to access and play our game and use other dAPPs.
If you are using an iOS or Android device, you can use Cipher Browser to do the same.
Since both Metamask and Cipher are used to interact with dAPPs (and you do that with transfers) they also act as an Ether-1 wallet. You will need to transfer funds to them in order to play properly. Although a hassle, this ensures no mishandling of ETHO addresses takes place between your money and our dAPP, securing your safety.
How to Play?
There are three game variants differed by risk/winnings ratio. All of them are listed in the table:
|Bet = 200 ETHO||Option 1||Option 2||Option 3|
The bet amount is displayed on the "BET" button. Choose one of three variants and press the button.
This will invoke the Metamask interface, that will safely handle the transaction.
Also, you can use your Ether-1 wallet for transferring the same amount to the contract address, displayed below the chosen variant. Note, that in this case you should set a maximum fee to 2.000.000 (two million) gas.
When participants number in chosen game variant will reach ten, they will be mixed in random order and the smart-contract will perform a payout automatically.
Are there fees?
Yes. Only 5% of round pot will be taken. There are no additional fees after winning the game. 5% fee goes to creators of lottery. Variable gas price has to be paid for every Ether-1 transaction.
How is the random selection of the beneficiary guaranteed?
We use a simple random algorithm, based on block hashes. It has a potential attack possibility, but there is nothing to worry about - blockchain attack is a very expensive thing and never can be paid by our lottery winnings. It's safe.
Is this better than traditional lottery?
Conventional lotteries summarize big amount of contributions from unlimited number of participants and allows to win equally big amount of money to very limited group of participants.
High percentage of contribution (up to 50%) transfers to the lottery owner.
Probability of winning in conventional lottery is extremely low – thousands and millions of percent shares (around 1 of 7 000 000 for big winning and 1 of 5 for compensational). Probability evaluation is very hard.
Game logics cannot be checked by any participant.
“UniqLot” operates on completely different principles:
- number of contributions in one lot is fixed
- winning probability is very high (up to 9 to 1)
- 90-95% of the contribution amount are playing out
- equally small amount of winning
- three game variants with different balance of risks and winnings
- initial code of smart contract is available at GitHub, its transparency can be checked by any blockchain developer
- smart contract results are being permanently saved in Ether-1 blockchain network
Is this secure?
UniqLot website is a front end for the smart contract, but does not contain any game logic. The payments and drawing of winner is handled by smart contracts on Ether-1 blockchain and cannot be compromised.
Where is the source code?
You can view the smart contract at Github.