The LAB / Raffle site TBC
Creating a raffle site powered by serum
Raffle Site:
The first workflow happens when a user selects an NFT from their wallet, a ticket Amount, coin to sell in and a ticket price, must also pay a listing fee in serum which will be burned and then starts a raffle unless you are staking a nft then this fee will be free. Once the user signs the transaction, all funds will be sent to our smart contract and be locked along with the listed nft until the raffle ends.
Once the start transaction is confirmed and the NFT is locked in our smart contract, the raffle will be available in Labs website. Other users will then be able to buy tickets.
In order for a user to buy tickets, they must send the correct amount to cover the number of entries they want. For example, if the ticket price is 1 $serum and the user wants to buy 10 entries to the raffle, they will have to send 10 $serum to our smart contract.
When a raffle reaches its end date users won't be able to buy more tickets for it. Our API will then generate the winner based on the raffle entries. The more entries you have, the more likely it will be for one of your entries to be drawn, but keep in mind that the only way for you to be sure you will win a raffle is if you have all the entries (100% chance) for that raffle. Even though it's very unlikely, even if you have 99% chance of winning a raffle you can still lose. The algorithm to select the winner is not owned by us and will never favour any entry candidate.
Considering serum is $1
Raffle site Claim:
NFT Prize
WINNER
NFT $100
2% Fee 2$serum
LAB
98 $serum
Raffle Creator
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