In our last blog, we talked about why ChanceDAO exists.
In this article, we'll cover the specifics of Chance DAO's gameplay.
Let's get right to the point!!!
Before introducing gameplay, what is the purpose of Chance DAO?
Chance DAO collect money through mint NFTs, and the money will be used for charity, for example, if someone in the community is in trouble, the community will vote to decide whether to help. Every community member will involved, and the NFT has a permanent chance of winning.
First of all, users become NFT holders by minting NFT. Chance DAO's NFT is equivalent to a lottery ticket, and those who hold it have a Chance to win in every round of drawing.
We tentatively set a lottery cycle of every 100 NFT was minted or this round of minting runs out of time. So as long as you have NFT before the end of the lottery cycle, you have a chance of winning.
So how much is the bonus? The total cost of each round of NFT minting is the amount of prize money, 80% of which goes to the winner, 15% automatically goes to the community Treasury, and 5% is paid to the founder team to ensure the daily operation and development of the team. The winner will receive 80 times that price, and 160 times that if the previous winnings expire and are not claimed and automatically go into the next pool.
Does everyone have the same chance of winning? No! Of course not. Each round of minting NFT has a 90% chance of winning, and a 10% chance of winning will go to the person who already has the NFT. Otherwise, it's not fair to the player who is casting the NFT at this round. Of course you can hold more than one NFT to increase the odds of winning.
So what is the exact cost of minting NFT? We tentatively set the price as $10 and use BNB to pay. Based on the calculation described above, the winning amount is $800.
Smart contracts will run forever and the holder will always have a chance to win.
The general gameplay of Chance DAO is introduced. If you have any questions, you can join our community and ask questions to the community volunteers.
Follow Chance DAO's tweet for more multimedia content.
https://twitter.com/chance_dao
We'll cover Chance DAO's roadmap in the next article.