Lottery Token (LOT) is a standard ERC20 token with a distribution system similar to a lottery or raffle.

How does the lottery system work?

Each day at a random time the Ethereum network will be scanned.

A random address in the top 1,000 LOT token holders will be chosen as a winner using random.org.

The winner will be sent an amount equal to 25x their balance!

So if an address that contains 1,000 LOT wins then that address will receive 25,000 LOT!

What was the initial distribution?

The LOT token has a total supply of 1 Quadrillion tokens (1,000,000,000,000,000 LOT).

1 Million (1,000,000 LOT) of these tokens were available during the airdrop, equally distributed to 1000 addresses. (almost 900,000 were claimed).

1 Million (1,000,000 LOT) of the tokens were reserved for the creator of the token and token maintenance costs.

This puts the initial distribution at a 50/50 split between creator and airdrop sign ups.

The remainder of the tokens will be used as a reward bank.

Why was Lottery Token created?

Lottery Token was created to serve several purposes:

A learning experience. An experiment. Fun!

This project is first and foremost a learning experience for me. Learning to use blockchain technology, writing Solidity, executing smart contracts, etc.

As an experiment I am interested to see how a token of this nature is adopted and treated.

No explanation needed for point 3.

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