Blog Post
Delot - A Project Wishing to Go Beyond Traditional Lotteries
Sponsored • Mar 30, 2022
Ever since its introduction, blockchain technology has been trying to change a wide range of aspects of our life. Today, we will look into the Delot project, an initiative wishing to take the traditional lottery system most of us know and make it decentralized.
Delot’s development is still ongoing, but the team has already publicly shared several features they promise to integrate into their product. Our overview will serve the purpose of describing the key functionalities of this new blockchain initiative.
About Delot
If you are familiar with traditional lotteries, you will know that you typically buy a ticket at a specific price to join the system. Assuming a ticket costs $1, you know you will have to pay $2 to get two of them, $3 for three, etc.
In order to participate in a Delot round, instead, you must deposit tokens. Using more tokens increases your chances of receiving more tickets. A higher number of tickets means, intuitively, an increased likelihood of winning the final prize.
The following subsections will allow us to dwell more on the project's main features.
How Does Delot Work?
Delot proposes a multi-round system, and each one lasts between three and seven days. Each cycle consists of three states: Start, Active, and End. Depositing tokens during the active stage of the round allows players to participate in the game.
In the “Start” state, the Auto Pool function allows players to play and receive the maximum number of tickets. The system will take care of the following when the round is over:
- A player's Hold Tickets will be reset to zero if they don't have enough tokens from their first deposit to play.
- Generate, through Chainlink, random numbers to guarantee the lottery's functioning.
- Use random numbers to identify winners.
- Reward the recipients of the prizes.
The Auto Pool Feature
Auto Pool allows participants to enter the next round and earn tickets immediately. Instead of waiting until the previous round has finished, users may just put money into Auto Pool and specify the amount they want to use to enter.
The team clarified that the players can deposit and withdraw tokens at any moment.
Joining a Lottery Round
You can join a lottery round on Delot manually or automatically. If you wish to do so automatically, set your joining amount and put tokens into the Auto Pool mechanism.
If you prefer to follow the manual approach, here are the steps you need to complete:
- Select a stake and click "Deposit" on the "Active Round" screen.
- In order to use your tokens, you must "Enable" a smart contract by authorizing it.
- To join a round for the first time, you must have a balance larger than or equal to the minimum entry amount. Deposits can be made as many times as you like within a single round. After the second time, there is no requirement for a minimum contribution.
The $DELOT Token
The $DELOT token will run on the Binance Smart Chain (BSC) system and have a supply of 100 million coins. The team promises to work on giving $DELOT a cross-chain feature, starting from Polygon.
In terms of token distribution, we have the following:
- Presale: 40% of the tokens.
- Reward system: 26.56% of the $DELOT supply.
- Liquidity: 21.13% of the coins.
- Team: 8% of the native tokens.
- Marketing: 2% of the $DELOT coins.
- Unycrypt fees: 1.31% of the funds.
- Airdrop: 1% of the fund supply.
The Beta Test
While we wait for its official launch, Delot has released a public beta testing app of the lottery system. Delot's Telegram Group members who join Beta Test and provide feedback are eligible for a retroactive token airdrop.
To join the beta test, the team advises to follow three steps:
- Make sure to add the BSC Testnet to a MetaMask account.
- Transfer $BNB from the test faucet to the BSC Testnet system.
- Finally, each wallet can claim the $DELOT token, a system working only once.
The Roadmap Followed by the Team
The team shared with the public a quarterly-based project roadmap. Let us mention the critical milestone of each stage below.
Q4 2021
The team initially focused its attention on the lottery game concept, product design, and architectural design. Afterward, the developing team worked on the smart contracts and Dapp.
Q1 2022
The first quarter of the year featured the following milestones, among the others:
- Resolution of bugs in the app
- Auditing process of the token and smart contracts
- Token sale
Q2 2022
The second quarter of the current year will feature several essential operations, such as:
- CoinGecko and CoinMarketCap listing
- Lottery game live on BSC Mainnet
- Token listing on centralized exchanges (CEX)
Q3 2022
The third quarter should see, among many improvements, the following milestones:
- The official launch of the lottery game on the Polygon blockchain
- Kick-off of the development of a new lottery game version
Q4 2022
The team expects to complete a series of tasks by the end of the year. Among these, we can mention:
- First NFT sale
- The official launch of the new version of the lottery game
Final Thoughts on This New Initiative
Delot’s mission is to leverage the potential of blockchain technology to enhance the current lottery system. We summarized the main features of this coming product in our overview, and we’ll see what the market will think of the initiative. One of the pivotal moments of the roadmap will be the presale event of the project’s native token.
The extension of the $DELOT token to a cross-chain functioning, together with other aspects, may attract some investors. While we wait for new announcements from the team, anyone wishing to keep updated on Delot can connect to its website and social media.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.
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