BigWin is Exploring Provably Fair Mechanisms Through NFT + Lottery
All game players desire a fair chance of winning, while transparency and fairness are the major problems. From a technical perspective, it’s understandable to doubt the fairness of online lottery, considering that the technology used in online lottery makes it easier to meddle with the results. The DeFi system has its unique features of fairness, transparency, so people think that the DeFi lottery is better.
However, the traditional DeFi no-loss lottery also faces the risk of being controlled by the whale, which means large asset holders have an absolute higher winning rate. It may lower the winning rate of other players, which may reduce their participation to some extent. Even they can get tokens by mining with basically no risk, but the yield is unattractive compared to staking and lending.
BigWin: Introduce NFT to give extra investment value to tickets
BigWin is an open-source no-loss lottery playground combining DeFi and NFT, which announced its brand iteration days earlier.
BigWin is trying to be a user-friendly and interesting lottery playground, the whale ocean park, the NFTs, and future functions created by the community, mainly for solving the problem of low user acceptance in DeFi, trying to give everyone a fair shot in this open, permissionless way of finance.
BigWin had made every effort for more fairness. For now, they launched the Cake Limited Prize Pool, and the investment amount is limited to 100 tickets, which is fair for small asset holders. They are also planning to bring in NFTs.
By making the LP token an NFT as a synthetic asset that anchors the revenues of market-making strategies, UniswapV3.0 took the first step in NFT financial application. Inspired by UniswapV3.0, BigWin also tried to use NFT to get more small asset holders into the no-loss lottery pool without hurting TVL. Currently, every pool is to distribute homogenized lottery tickets to the users, and every ticket has the same strategy.
The ticket is a way to get revenue, and it can only be used for raffling since there is no matched secondary market. In BigWin’ s iteration plan, NFTs would be assigned to every prize pool which present different lottery strategies. NFT has strong descriptive ability, and is suitable for complex and changeable financial contracts and lottery strategies. The lottery strategy is based on the participation time, proportion of the amount in the pool when joining, and the holding amount of BWIN.
The user can either hold the NFT to get luckier, or sell it to other users in the pool to increase the winning rate. BigWin gives extra liquidity value to tickets better than raffling only, allowing all users to feel the magic of finance.
The lottery combined with NFT is a significant progress. Through this fair and open way of playing, BigWin is trying to be a better tool to lead beginners into the DeFi world, conveying the DeFi spirit of open-source, transparency, and openness to a larger group of people with all the DeFi lovers.
Best activities for beginners:
BigWin Airdrop: https://cutt.ly/kt-pr4
By voting for the next pool we build, you can get our free airdrop up to 300 BigWin. You can also get the prize pool you want for investing with your holding tokens and get the big prize.
BigWin USDT x 100 Boost Prize Pool for beginners: https://cutt.ly/xs-pr4
Deposit 2 USDTs in the 100 Boost Prize Pool to get the chance to win 200 USDTs.
The activities are online on July 8th. Stay tuned for our 100,000 BWINs Airdrop and 100 Boost Prize Pool for you!
Our Official Website: https://cutt.ly/of-pr4
Ask us Anything in Discord: https://cutt.ly/dc-pr4
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