Best viewed on a large screen.
Dotty the DeFi Lottery
Usage
The lottery is a simple game, you send the required eligible amount of algo/asa to the respective lotto account, and when the pool reaches the prize amount the lottery is drawn and the winner is chosen at random from the eligible players, the winner is then paid out the prize amount and the pool is reset.
The testnet version has no methods for returning bets, it will wait until the end of time for enough bets to trigger a prize distribution.
Overview
The Dotty the DeFi Lottery is exactly what it says on the tin, which is an Open Source, non-profit, SDK Based (centralized) automated lottery game on the Algorand blockchain.
I always wanted to play the traditional lottery but being a savvy person I know it's a waste of money as the odds of winning are astronomical!
So here we are in 2023 and fate has aligned, I have the skills and tech avaliable to create a global/public/non-profit high odds Lottery Game!
Security
Why centralized and not a smart contract?
I and the team have years of experience with traditional sofware development/secure deployment therefore I am immensely confident when crafting an app that will be used to hold and distribute cryptocurrency, on the other hand I nor the team have experience with pyteal or smart contract development and would need an audit, and those are not cheap, so for now the app will remain centralized.
Random Function
winner = secrets.choice(eligible_player_accounts)
GitHub
Live Games
Fee Structure
Algo Games
Formula (prize_fee = 2000 * amount_of_bets_required + fixed_fee(10000))
This fee is then used to maintain the lotto game's algo levels and any excess is used purchase AGNR which is then added into the LP rewards Pool.
ASA Games
Formula (prize_fee = asa_prize_fee * amount_of_bets_required + fixed_fee)
Or about .12 Algo equivalant total of the prize pool is taken as a fee, because of volatility, this fee is then sent to the Reswap bot promptly swapped for algo, some is sent back to cover the lotto transactions/lotto maintenance fee, the rest is used to purchase AGNR which is then added into the LP rewards Pool.
ReSwap Bot
This bot buys AGNR with accumulated excess fee's, sends a percentage to the maintenance fee account then sends remaining AGNR into the LP Rewards Pool.
Lotto Fees -> reswap account -> Swaps to algo -> Swaps AGNR -> Takes the Maintenance fee -> Adds the remains to LP Rewards Pool
Testnet AGNR ID:
ReSwap Address:
LP Rewards Address:
Road Map
2023 - 2025
- Add a method for returning bets
- Add Statistics page
- Add performant Database
- Add API
- Add Games for all deeply liquid ASA's
- Add Supersecure Jackpot games