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- Newer Revenue Channel
- Portfolio tracker
- Crypto Wallet
- TP Lending API
- Ad Management
- Admin Panel
- User profile
- Probability engine
- Bitcoin lottery script
How does this work?
This is a unique lottery that is designed to rope in users. Anyone who plays this has a 100% chance of getting his money back. No-one looses. Read on,
Step 1: The raffle pool gets open. Players can pay crypto and buy any number of tickets. Each ticket is a chance for the player to win the lottery ( so more they buy, more the chance ). Remember, all the crypto you put in the pool will be returned back to you when the pool ends.
Step 2: When the ticket buying time is over, the pool gets locked. When the raffle pool is locked no-one can buy or withdraw the crypto invested. As the raffle platform owner you can set this lock-in period in the Admin panel( For example 20 Days ). Now, this system is connected with Compound.Finance. All the players money is lent on Compound to earn interest.
Step 3: When the pool lock-in period is complete, all players can withdraw their money/crypto. And, one winner among all the players is randomly chosen to receive all the interest earned during the locking period. Now who wouldn’t play this? :)
Also, as the platform owner you can set the percentage of the prize money you will get and remaining will be sent to the raffle winner.
If you're new to the concept of Raffle, read on and then I'll explain why this script makes much more sense than the regular ones that are available in the market.
Raffle or a lottery is the method of issuing numbered tickets to different people with a chance of winning either a product (or a sum of money) for a small price. A person could purchase multiple quantities of the raffle tickets in order to maximize the chances of winning. (Purely based on the probability). Once a winner is chosen out of the lot, the ticket owner can claim the prize.
Raffle as such isn't a new concept, it has been around since the 1400s when the widow of Jan Van Eyck decided to sell his work but was stuck in the dilemma of choosing who she should sell it to. She sold tickets to people who were interested. She randomly drew out the numbered tickets and the ones who were lucky got his paintings for a price.
Though it didn't have other restrictions, prize structure and rules that the modern day raffle have, It was indeed the first version of raffle, as we know it today.
What makes this bitcoin raffle script different from other cryptocurrency raffle software?
On the other bitcoin lottery scripts and cryptocurrency raffle scripts, the underlying concept is that users are required to purchase tokens using cryptocurrency, a winner or a couple of winners are chosen from the lot, and the prize is offered. Only the winner and the cryptocurrency raffle script platform owner makes money. The other users who are "unlucky" pitch in to buy the raffle tickets are left out of the equation. We wanted to change that.
Though on the outside, it may seem to be just your regular cryptocurrency raffle software, BitExchange's bitcoin raffle software is based on the idea that no one should lose.
The challenge with raffle as stated above, is that it depends on a vast pool of investors and to garner as many investors, you would need to be a trusted entity and as you may already know it, building trust among the investors would allow them to bet their hard earned (in whatever quantity) on your bitcoin raffle script powered platform.
You see, the key to success of the platform built using this cryptocurrency raffle software, depends on helping the winners make money while removing the risk of losing money by majority of the investors. As an admin, you get to make money by just making sure all of this happen.
An idea so simple yet so powerful that it could change the way raffle are held.
So how are we planning to implement that?
The advantage of using Cryptocurrency is that it is fungible, as more people use it, the value of it increases.
The bitcoin raffle script accepts cryptocurrency to sell the tickets and then lends it to a reputed Third Party service called Compound, that is backed by investors such as Andreessen Horowitz, among others and has been around for a while. They make strategic investments across various businesses (that are whetted by them personally) using the cryptocurrencies lent to them. The service guarantees the return of the Basic Cryptocurrency + a Capitalized Interest (Equivalent amount as cryptos).
Using the Return On Investment (ROI) you can award it to the Winner and return back the cryptocurrencies to those who have invested in the Raffle pool.
How do you make money with the bitcoin raffle script?
If people aren't losing their money, they would come back and invest again and again on the platform, every time there is a Raffle being held, they'd want to try their luck as there's no risk of losing. You'll have people flocking to your site.
As more investors come in and use your platform built on the bitcoin lottery script, the Raffle only gets bigger and the commission that you'd take for each transaction, and a platform fee that you would levy from each winner would also increase.
Plus, at the end of the term, the Interest provided to you by the Third Party Crypto investment platform would also be significant depending on the amount you had lent them. This would also be an additional revenue channel for your platform.
What are the features of the bitcoin lottery script?
The Bitcoin raffle script is feature packed with features that easy to use by anyone visiting your site for the very first time.
R2 Admin Panel
A Minimalistic Dashboard built specifically for the Bitcoin raffle script to handle every aspect of the platform. The dashboard features a slick UI, with vital statistics to show you all that is important at a glance. Spectacular User management, revenue tracking, Data from Integrated partner services are all part of it's powerful Admin Experience.
Smart Rafflr 2.0
Our best raffle probability engine yet, that uses absolute randomization to pick out the winner from the lot and makes sure that the Raffle is fair and square.
Know Your Customer/ AML
Know your customer documentation is the foundation of building of safe ecosystem with users who can trust with each other. The in-built KYC/AML tracker allows you to validate and verify users manually without sending all the data to any third party system.
The inbuilt cryptocurrency wallet, makes it easy to payout faster. Crypto wallet enables you to hold the amount as escrow incase the need arises.
Easy to extend and build great features over the existing cryptocurrency raffle script. The extensive API layer is also well documented for developers to use.
Users have a clean, easy to navigate interface where they can discover new raffle, keep track of the ones that they have already participated in and manage the funds need for the raffle, all in one place.
Option to Donate (Upcoming)
Incase the user hasn't won anything, but they would like to donate the raffle ticket amount they received back, they could opt to donate the fund to a charity of choice set by the cryptocurrency raffle script platform.
Pool Lock/Unlock Timer
Depending on the dates mentioned, users can buy raffle tickets or the sales of it can be stopped automatically. The timer is based on parameters like sale volume, demand and the time limit.