A 1% Rewards Lottery Every 2 Weeks
General Overview:
The lottery takes place every two weeks.
In order to be eligible you must hold at least 100 billion $RPG tokens. Holding 100b $RPG gets you one entry. Max 6 entries no matter how much $RPG is owned.
The prize will be 1% of the total reward for the two-week period.
The winner will be chosen at random. The bigger the prize the more winners as explained below.
After each winner is selected there will be one week of voting on if we should switch the coin we’re mining or keep it for the next lotto.
Schedule:
For the first lotto we will take the reward from our marketing budget. If there is consumer demand - we will update the smart contract to the below.
First two weeks: Modified distribution (4% Rewards, 1% Lotto Winnings, 1% Liquidity Pool).
Following week: Normal distribution of RPG rewards (5% Rewards & 1% Liquidity Pool).
Voting Period: After each lottery, there is a week-long voting period to decide:
Winner Selection:
Conducted at the end of each two-week lottery period via a Twitter Space and livestream where people can see the winning wallet being chosen.
Winning wallet chosen randomly and the selection process will be shown (e.g., lottery wheel, computer program).
Entry Criteria:
1 entry for every 100 billion $RPG held. Maximum of 6 entries per holder, regardless of the amount of $RPG held.
Community Engagement:
Encourage community interaction and discussion about the lottery, coin selection, and number of winners.
First Lottery Focus:
We suggest switching from $COQ to $Kimbo and the first lottery will reward $KIMBO, with subsequent coins chosen via community vote.
Amount of winners based on Volume:
Up to 150k = 1 Winners 150k - $300k = 2 winner 300k - 750k = 4 Winners 750k - 1m = 6 Winners 1m+ = 10 Winners
Community governance vote for choosing the number of winners for 1m+ in volume will happen after the first $1m+ volume lotto.