In the wake of an increased blockchain offering, lotteries have had to adapt and change their approach to stay relevant to a new generation of players that soon expect to do everything on blockchain. With an increased blockchain adoption and a shift in consumer behavior, it’s time to focus on a seamless, secure, and autonomous solution that converges traditional experience and disruptive technologies.
MyLottoCoin is the world’s first fully autonomous blockchain-based solution incorporating the elements of traditional lotteries into the security, reliability, transparency and performance of blockchain technology and offers a multifaceted approach to simplifying the current lottery model and fixing its defects by enabling fast, reliable, and tamper-proof technology access to players, while maintaining the traditional elements.
A fully permissionless DeFi-powered play-to-earn DApp
What is the problem?
Traditional lottery has many problems. Just to name a few:
What is the Opportunity?
The lottery market has witnessed a significant growth over the past years and inclining at a 10% rate, but despite this significant growth, there are worries concerning trust, security, transparency and reliability. The other unspoken elephant in the room is the fact of excessive administrative and operating expenses that could be pooled back to the community and players. There is a pressing need for an overhaul of the whole lottery industry, a multifaceted approach to simplifying the current lottery model and fixing its defects that leverages the advantages of blockchain technology.
Our goal is to build with our partners the infrastructure that allows official and state lotteries to be more circular, with near-zero operating and maintenance cost, in a format designed for the blockchain age ensuring both traditional lottery players and blockchain-enthusiasts enjoy the future, today, while empowering players and maintaining the traditional elements.
Uniqueness of MyLottoCoin
MyLottoCoin’s blockchain-based solution, with a touch from traditional lotteries, provides a full inclusion model that extends beyond current platforms.
Play to Earn-Hodl to Reward
MyLottoCoin has introduced a community-centric reward program reconceptualizing the lottery model by a tokenized play-to-earn and Hodl-to-Reward initiative, as the first of its kind, empowering players to always be part of the game and win.
In order to facilitate and autonomize the reward program, MyLottoCoin has issued its own native utility token, MYL. Out of the total supply of BSC-based BEP-20 MYL token (100 million), 50% is allocated for free distribution among players (Play-2-Earn), and 10% of total ticket sale is redistributed to MYL token holders in proportion to the tokens in circulation, autonomously every 3 months and irrespective of playing games (Hodl-2-Reward in BNB).