Idea of implementing a weekly lottery. 5$ LUNC equivalent to enter. Chance of 1:125 to make 500$. 20% of lottery pool will be burned so with 100.000 participants currently 600.000.000 LUNC each week! It should be on Terra Staion so it is easy and widely accessible und trustworthy.
So in order to paticipate you have to send a 5$ equivalent of LUNC to the Lottery-pool/wallet. The exact LUNC-amount for each draw will be set at the beginning of the week. You have 6 days to join - draw on 7th day. There has to be a minimum of 1000 participants and once another 1000 people join, the prizes will be drawn out of 2000 participant and so on…
Bets in between the 1000th-steps will be included in the the next weekly draw or the participant can withdraw it (it is always possible to get your deposit back)
In this example 20% of the lottery pool will be burned and you have a chance of 1:125 to win 500$.
( With 10% being burned the chance would be 1:111)
Eight people out of a thousand will win 500$. With 2000 participants 16 people will win 500$ and so on…
So with 100.000 people there will be a lottery-pool of 500.000$, 400.000$ will be transered back to 800, randomly selected, winners and 100.000$ of LUNC (right now ~600 million) will be send to the burn wallet.
All parameters are to be discussed…
So i don’t know if this is technically possible and it’s probably hard to code, but it would be the best when this would be implemented on TerraStation so the most amount of people can access the lottery easily and it being trustworthy.
I know there is already a lunc-lottery but i think chances to win are too low and this setup on TerraStaion would reach/attract way more people.
Running costs/daily work effort can be rewarded by a small percentage/amount of the 20% for the burn wallet.
0.2%taxes can be abducted of prize-money or burn-amount or added beforehand (5$+0.4%)
If the idea finds support the project should be be built/operated by TRUSTED people so maybe the new Joint L1 task force ?