Ruleset
Dive into the Altr Raffle rules, process, and opportunities to maximize winning odds. Learn how to participate, boost your chances, and understand the allocation of funds.
Raffle Overview
The Altr Raffle offers participants the chance to win an NFT representing digital ownership of a Rolex Daytona 116500, with a market value of $30,000. The raffle is conducted on the Polygon blockchain, using USDt as the currency for ticket purchases.
Ticket Purchase Details
Sale Period: The raffle will run from 12 June 2024, 1 PM UTC+0 to 26 June 2024, 1 PM UTC+0.
Ticket Price: Each ticket costs 50 USDt.
Caps:
Maximum Cap: The total cap for the raffle is 1,000 tickets, equating to 50,000 USDt.
Personal Cap: Each wallet address can purchase a maximum of 400 tickets, equivalent to 20,000 USDt.
Bounty Program: An additional 20 tickets, on top of the 1000 tickets on sale, will be allocated for social campaigns and Key Opinion Leaders (KOLs) to promote the raffle initiative.
Refund Policy
If the maximum cap is not reached by the end of the sale period, participants can request a full refund through a dedicated function on the ticket sale smart contract.
Fund Allocation
Item Value + Expenses (30k + 10%): 33,000 USDt.
DAO Treasury (15%): 2,550 USDt.
LCD Token Buyback (75%): 14,450 USDt.
Post-Sale Process
Participant List Publication: The list of participants will be published no later than one day after the ticket sale closes. Participants have 24 hours to review and dispute their allocated final odds computation.
Boosts Calculation: The team will publish a table of addresses and secured boosts for every address. The boosts will be summed together and then applied to the number of tickets. For example, 5 tickets with a 20% boost would be calculated as 6 tickets.
Final Odds Calculation: The table will include a column to calculate the final odds of winning, compared to the rest of the participants.
Winner Announcement: After 24 hours, if no disputes are made, the winner is announced. If disputes are made and confirmed, another review period begins after the rectification is published.
Winner Selection
Mechanism: The winner will be selected on-chain using Chainlink VRF.
Selection: The VRF will extract a number between 1 and the total number of tickets purchased multiplied by their owners' boosts.
Claim Period: The winner has 5 days to claim the prize. If unclaimed, a new winner will be selected through the VRF.
Prize Collection
Once elected, the winner can choose to either:
Keep the NFT: Maintain digital ownership in the form of a full certificate NFT on the Altr platform, with the item stored at a third-party free-port storage facility in Switzerland.
Ship the Item: Opt to have the item shipped.
Pick Up the Item: Decide to collect the item in person.
Dispute Process
Submission: Disputes should be submitted via a dedicated Discord channel, including a description of the issue and a proposed solution.
Review: The team will review and either accept or deny the dispute.
Participant List Publication
List Example: 0x123 has 15 entries, 0x456 has 25 entries and 0x789 has 43 entries.
0x123
15
0x456
40
0x789
83
Winner Notification
Channels: Winners will be notified through social media platforms, the raffle website page, and email (if provided).
Boosting Winning Odds
Participants can increase their odds of winning through various boosts:
Ticket Purchase in First 48 Hours: +10% boost.
Referral Program:
Referred Person: +5% boost (one-time, first referral code used only).
Referrer: +5% boost for every 3 successful referrals (up to 25%).
Identity Verification on Altr: +10% boost.
Borrower or Lender on Altr Lend: +30% boost.
Liquidity Provider (≥$1000): +10% boost.
Light or Full Certificate Owner: +10% boost.
Participant of the Guess The Watch contest: +10% boost.
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