Eth OnFire - a coin burning contract. The OnFire team took inspiration from the Bonfire dapp contracts. By burning more than half of the coins, the resource can benefit the entire market, not just the users of the game. Since the number of assets in circulation in the network is regulated in this way. In addition, every time a coin is burned, a random user can receive the winnings to his wallet.
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The idea behind Eth OnFire
Eth OnFire - a lottery contract that burns coins. The resource is managed by the ETH community. Following the dapps Bonfire design, the team starts by sending the team a hash, containing a salt number. The platform command represents the given number as a hash. Salt number defines a random number from oraclize to protect against the possibility of fraud when generating random numbers. The number of salt is transmitted before the opening of the round and cannot be changed, because the hash values must match to detect it.
The platform's contract is for the burning of coins, but 30% of ETH from each round is given to one random user. The winner of the 30% gift is also selected, using the oraclize contract. The selection is done, using a random number, combined with a salt hidden in a hash that is presented before each round.
How does Eth OnFire work?
After the salt number is available in the contract in the form of a hash and the ticket price is ready, they will become available for sale. After all tickets have been sold, a random number must be requested. The random number is requested in several ways:
- by any user, using a button on the website;
- using the command line.
A user, who successfully asks for a random number, receives the amount of one ticket after the burned coin.
| 30% | goes to the owner of the winning ticket |
| 1% | to the OnFire team |
| 69% | (minus the price of two tickets) expire |
| Minimum action | you don't need to buy tokens. You play with ETH and receive a prize in ETH |
The self-destruct feature burns all ETH contained in the contract with no benefit to the OnFire team. The burnt coins go to the wallet address. This system is fair and excludes the possibility of tampering with the result.
The ticket price for the draw is $ 1. The number of tickets has a limit, but keep in mind that only 30% of the pot will help to claim the prize.
More about smart contract
To get acquainted with all details of using the resource, you can familiarize yourself with the WhitePaper or go to the official website of the platform. Also, due to the lack of social networks, you can find out about all the latest events in the life of the resource on the official website.