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LOTEO Lottery needs revolution


LOTES is a security token which is meant to be sold only in private funding round (the STO). There will not be a public sale, for all investment requirements please fill the form on website. This token grants owners an opportunity to profit from being part of a lottery without being attendees in amount 20% of each prize total value. The LOTES are locked for 15 months and during this time it is not possible to buy or sell them anywhere else. After the first 15 months pass, there will be another funding round during which LOTEO will sell at least 30% of all tokens in compliance with legal and regulatory requirements. The price and all details  will be revealed prior to this event. After selling these tokens, the token will be listed on exchanges that offer security tokens trading. After 15 months, 20% of all security tokens will be owned by the lottery while 80% will be decentralized, preventing the lottery from being manipulated. The token also has a governing function, meaning any significant change has to be achieved by consensus and any token holder can issue a suggestion or voting.

LOTEO is an automated digital lottery that is executed via code instead of being run by people. The lottery will, first on a weekly, and later on a daily basis, draw a random Ethereum address from a pool of users. The draw will be based on a random number generation system that will have a publically-viewable code on GitHub and also on Ethereum Network. The winner shall receive 75% of the prize pool as a reward, which will be sent to their Ethereum address.

Not only will LOTEO make this form of gambling accessible to more people than ever, but it will also address the issue of trust as it will be executed via a smart contract, the code of which will be publically-viewable on GitHub and also on Ethereum Network. Through a combination of international reach, transparency and automation, LOTEO aims to become the industry standard in the rising market for digital lotteries.

How does the lottery work with Loteo?

Users enter the lottery by purchasing individual tickets for the weekly LOTEO lottery using the Ethereum cryptocurrency. Each address of the Ethereum wallet that purchased the registration is registered, therefore, as a participant in the weekly lottery. Later, LOTEO will add a daily lottery regulated by the same rules. The LOTEO weekly lottery will be executed through a smart contract that will use a certified random number generator (RNG). After selecting the winner of the lottery, unp smart cotnract will automatically send the prize to the appropriate Ethereum. All the code will be publicly visible on GitHub and on Etherscan. The prize will be divided as follows:


  • 75% to the lottery winner
  • 20% to the owners of LOTES (each prize drawn will be redistributed to the owners of LOTES, in proportion to the number of LOTES owned by each user)
  • 1% is given to a charity chosen by the LOTEO community.
  • 4% are reserved for the affiliate program.
How does the affiliate program work?

For the first ticket purchased by a registered user through an affiliate link, the affiliate partner will receive 50 LOTEU (utility token) + 4% of each ticket value purchased at ETH, while the newly registered user will receive 100 LOTEU. Note: every 100 LOTEU (2 registered users) will double the chances of winning. During the reference sale of the LOTEPASS, each affiliated partner can request 500 LOTEUs and 4% of the value of each ticket in the ETH.

The affiliate partner has the right to be rewarded with each sale of a wholesale LOTEOMAXX package. However, the wholesale package bonus (10, 20, 50, 100) can only be requested once per user, per year. There is no limitation for 4% of each ticket value in ETH.

The Technology Offered By LOTEO

The Loteo project uses blockchain technology and smart contracts as the basis. All data recorded on the blockchain is known to many people, so the lottery business made by Loteo is fully transparent.

By being governed by smart contracts rather than governments or private individuals, the drawing process becomes automated.

There are many problems with current blockchain-based digital gambling platforms. They are often too complicated, suited only for crypto enthusiasts, offering an unsophisticated design that is neither attractive nor user friendly.

The solution

LOTEO is a fully automated lottery platform that uses blockchain and smart contract to create a completely transparent lottery, where your possibilities are incomparably higher than conventional lotteries.

There are several problems with "classic" lotteries, which have been overcome with LOTEO.

Possibility of winning. Unlike conventional lotteries where you bet against an unknown number of drawn numbers, in LOTEO you bet only against other tickets purchased, an amount that is several thousand times less than the number of potential winning combinations in standard lotteries. Thanks to the blockchain, the system is transparent and you can track all transactions. You have the chance to win every time the lottery takes place because you are betting only against a certain number of participants.

Transparency. All transactions and rewards are visible on the blockchain at any time.

Confidence. Being governed by smart contract rather than by governments or private individuals, the drawing process becomes automatic.


Future outlook

Global trends such as the lengthy term amplify of cell smartphone penetration, internet penetration and the proliferation of blockchain applied sciences will furnish best conditions for the increase of the on-line playing market, together with the on-line lottery industry.

Growth will be pushed by the upward shove of draw-based video games and scratch-off immediately video games across European countries as properly as other developed regions. The increasing center of attention on funding in new applied sciences (including blockchain), enhancing the understanding of lotteries, and achieving far-away audiences by way of the internet will propel the transformation of the market.

Loteo will be listed at @CoinTigerEX on July 10! Buy at least 50,000 loteu or join the 1,000,000 loteu prize / trade competition! 



Utility Token

LOTEU is a utility token that will be used for marketing purposes. When you buy an additional entry to the 100 LOTEU lottery, double your chances of winning the lottery. Many airdrops of this token will be made directly for the community and through LOTEO's marketing partners, and there will be many competitions that will be awarded with LOTEU. LOTEU tokens will also be distributed through bounty campaigns in accordance with LOTEO's marketing plan and official announcements via communication channels. There is a long-term future betting plan with LOTEU for the purposes of the B2B platform that will be specified before the second round of project funding takes place. The price of 1 LOTEU is not specified precisely as there is no sales event, the market will set its price, but the current value of a single LOTEU is indicated at € 0.1.


Roadmap


Conclusion

I conclude the article considering Loteo a very interesting project. There are different blockchain-based lottery projects on the market but, if Loteo respects the promises of the Whitepaper, it will surely prove to be one of the flagship projects. I remind you that the platform is already up and running and you can participate in a lottery by going to the following address upon registration!

For more information about Loteo Project, you can visit the link below:


Bitcointalk name: aquascap
LOTEO Lottery needs revolution LOTEO Lottery needs revolution Reviewed by haw on July 10, 2019 Rating: 5

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