Mechanism How the ticket are shared : Winning Condition Burn Fund
It is a Dapp that help you get closer to your dream house and bring XBN to the moon so that 1 $XBN = 1 $BNB.
FomoLotto will be fun and sometimes crazy, developers cannot profit from FomoLotto, all the burn fund is used to buy back XBN and add to Liquidity Fund.
- Each round begins with a 1 hour countdown timer.
- Tickets can be purchased any time during a round.
- Each ticket bought extends the countdown timer by 10 seconds, or to a maximum countdown limit of 8 hours.
- Ticket price increase slightly for each ticket bought.
- At the end of the game 10% of BNB will be used to buy back XBN to increase XBN value and transfer all those to Liquidity Fund
- In the next version of FomoLotto, Tickets can be bought with your XBN tokens, of which 90% of the token amount will be swapped to BNB to purchase tickets. The unswapped amount will be transferred into Liquidity Fund
- 53% are shared among current ticket holders proportionally to how many tickets they bought as rewards.
- 42% are sent to the Pot, the GRAND PRIZE for the Lucky one.
- 5% are sent to the burn fund used to buyback XBN to be transferred into Liquidity Fund
- The user who bought the last ticket ( ≥1 ticket, if buying less than 1 ticket will not have the chance to win ) when the countdown timer expires wins 75% of the pot! 25% remained of the Pot is sent directly to the next round.
- Next round will commence automatically an hour after the previous round ends.
Funds are held in BNB and can only be used to buy back XBN to increase XBN price as defined in the smart contract.