Raffles
Last updated
Last updated
The raffle system is the first and immediate utility for The JRney's tokens earned through staking. Our team would offer NFTs from our and other collections, and our holders would be able to qualify for those raffles using our tokens - You can check out some examples in this . Yummi and Mocossi projects are already partners of the Mutants DAO, and a few dozen other projects are already confirmed. They will join shortly - We could offer in those raffles not only NFTs but merchandising pieces, WL spots, tickets for IRL parties, and other infinite possibilities. Also, they're already working on other utilities for the system, such as: The first workflow happens when a user selects an NFT from their wallet, a ticket coin ($MINGO), and a ticket price and then starts a raffle. Once the user signs the transaction, the NFT prize will be sent to our smart contract and be locked along with 2 ADA until the raffle ends.
The raffle system consist in 4 well defined workflows:
The first workflow happens when a user selects an NFT from their wallet, a ticket coin ($MINGO) and a ticket price and then starts a raffle. Once the user signs the transaction, the NFT prize will be sent to our smart contract and be locked along with 2 ADA until the raffle ends.
Once the start transaction is confirmed, and the NFT is locked in our smart contract, the raffle will be available on the . Other users will then be able to buy tickets. For a user to purchase tickets, they must send enough coins to cover the number of entries they want. For example, if the ticket price is 10 $MINGO and the user wants to buy ten entries to the raffle, they will have to send 100 $MINGO to our smart contract. All those 100 $MINGO will then be locked with the NFT prize and added to the rest of the amount already collected by the raffle.
When a raffle reaches its end date, users won’t be able to buy any more tickets for it. The more entries you have, the more likely it will be for one of your entries to be drawn. An algorithm will choose the winner.
Once we have a winner defined for the raffle, the winner will be able to claim the prize on the . The raffle owner will also be able to claim 95% of the total amount collected for the raffle under the Created tab on the Only a single claim transaction has to be made, so if the winner claims the prize before the raffle winner, the raffle winner will automatically receive the prize in their wallet without having to do anything (and vice-versa).