Bingo Crypto (Litepaper)
A decentralized lottery for the crypto age.
The People's Autonomous Decentralised Lottery.
Overview
🎫 Each ticket bought makes a collateral deposit to the chosen pool.
⚖️ The pools are automatically balanced according to each deposit via Arbitrum Nova. Our protocol bridges each non-matching token (Optimism, ERC-20, Base, ...), to Arbitrum Nova.
🔢 For Infinity Crypto Club: Every 5 days, a random number is generated. The owner of the Ticket NFT with an ID matching the generated number receives the prize from the collateral pool.
🔢 For Millionaire and Billionaire club: When the prize goal is reached in each of the collateral pools, a random number is generated. The owner of the Ticket NFT with an ID matching the generated number receives the prize from the collateral pool. If the pool never fills, the prize is drawn 5 days after the last one.
🏆 100 Ticket NFTs per week are picked based on the random number and will receive a project NFT, i.e., an "IFT". The number of project IFTs distributed through this method halves every 5 weeks.
💼 There are 10,000 project IFTs in total. Any user can lock 1/10,000 of the token supply to mint a project IFT.
🔥 Every project IFT can be burned to redeem 1/10,000 of the token supply.
⚠️ IMPORTANT ⚠️
- All purchases of $BGC NFTs should occur through the Bingo pool.
- If swaps are performed via an aggregator, the corresponding $BGC NFTs will be transferred to the contract address of the aggregator and not the user s wallet.
- It is recommended that ticket buying is performed directly by your wallet. No swaps are needed!
- Do not provide liquidity for this token. Protocol-owned liquidity is provided.
- Any externally provided liquidity will be automatically transferred to the DAO Treasury.
How it works
Bingo Crypto operates on the following key principles:
🎭 Pool Selection
Users can choose from a variety of crypto pools to participate in, each with its own unique set of odds and potential jackpot sizes.
🎟️ Ticket Purchase
For every (X) amount deposited to the pool (depending on the pool you're choosing), the user receives a Ticket NFT. These Ticket NFTs are the keys to potentially winning the lottery.
🎰 Quick Drawings
Every 5 days, a random number is automatically generated using a secure, decentralized oracle. The owner of the Ticket NFT with the ID that matches the drawn number will receive:
- 95% of the accumulated collateral pool on Arbitrum Nova
- an IFT NFTs from a free ticket on next pool
🏆 NFT Rewards
In addition to the cash prizes:
- 100 Ticket NFT holders will also receive a special Bingo Crypto NFT (BCN) as a reward.
- The number of BCN NFTs distributed per week will decrease by half every 5 weeks, with a minimum of 10 BCN NFTs distributed.
Token Mechanics
The Bingo Crypto Token (BGC)
BGC is the native NFT of the platform and is central to its ecosystem:
- 🎟️Used for ticket purchases in the lottery system
- 🏛️Enables participation in platform governance
- 💱Traded through protocol-owned Uniswap positions
- 🔥Periodically burned to maintain scarcity and value
Fee Structure
Each trade through the protocol-owned Uniswap position incurs a 1% fee, which is allocated as follows:
NFT Burning Mechanism
BGC NFT are periodically burned through a systematic process:
- Maintains NFT scarcity
- Potentially increases value for holders
- Burning events are transparent and announced to the community
Roadmap
Bingo Crypto Development Timeline
Q4 2024: Platform Launch
- Launch Bingo Crypto platform
- Integrate top cryptocurrencies for pool selection
- Implement industry-leading security and anti-fraud measures
Q1 2025: Expansion and Mobile Integration
- Expand pool offerings to include top DeFi tokens
- Introduce mobile app for seamless gameplay on the go
- Implement provably fair lottery algorithm
Q2 2025: Partnerships and User Engagement
- Establish partnerships with leading crypto exchanges
- Launch comprehensive user loyalty and rewards program
- Introduce live-streamed lottery draws for added excitement
Q3 2025: Global Expansion and Advanced Features
- Expand our sponsorized streams on Kick
- Organize an IRL event with all the pool winners
- Explore decentralized governance and community involvement
Our roadmap is subject to change as we adapt to market conditions and community feedback. Stay tuned for updates!
Key Values
At Bingo Crypto, we are guided by the following core values:
Fairness
We are committed to providing a fair and transparent lottery experience, with a focus on random and unbiased drawing processes.
Accessibility
By offering a wide range of crypto pools, we aim to make crypto gambling accessible to a diverse audience.
Innovation
We are at the forefront of integrating blockchain technology and decentralized principles to revolutionize the lottery industry.
Community
We value our community and seek to foster a sense of belonging and engagement through our various programs and initiatives.
These values guide every aspect of our platform, ensuring a trustworthy, inclusive, and exciting experience for all our users.
FAQs
How to Buy Lottery Tickets?
Lottery tickets are minted when your address has paid the XX amount of the pool you’re entering. It is important these occur through the Bingo Platform (Arbitrum Nova collateral pool), and not via an aggregator, as your wallet will not receive the tickets otherwise.
⚠️ Important:
Important:
Ensure transactions are made through the Arbitrum collateral pool to receive tickets.
How to Find My Lottery Tickets?
- Go to your wallet address on Basescan
- Look under the "ERC-721 Tokens" section
- Find Ticket (TKT) NFTs
When is the Draw?
The draw occurs 7 days following the last draw.
You can find the date of the last draw using the lastPickAt function from the RewardDistributor contract:
Did I Win?
Check the draw results on our official website or social media channels to see if your ticket number matches the winning numbers.
How to Find My Lottery Tickets?
Check your wallet on Basescan:
- Go to your wallet address on Basescan
- Look under the "ERC-721 Tokens" section
- Find Ticket (TKT) NFTs
When is the Draw?
The draw occurs 7 days following the last draw. You can find the date of the last draw using the lastPickAt function from the RewardDistributor contract:
Did I Win?
All prizes are airdropped to winning wallets automatically. No claim is required.
🎉 Note:
Keep an eye on your wallet for any unexpected token or NFT arrivals!
Protocol Owned Liquidity
Liquidity Transfer to DAO Treasury
Externally provided liquidity can be transferred to the DAO treasury using the LiquidityUnifier contract. As an incentive, 1% of the transferred liquidity will be sent to the invoker of the function.
Uniswap V2 Liquidity
To transfer liquidity from Uniswap V2, use:
LiquidityUnifier.swapV2(base token)Example: For an INT/DAI pair, the base token would be the DAI address.
Uniswap V3 Liquidity
To transfer liquidity from Uniswap V3, use:
LiquidityUnifier.swapV3(base token, fee)Example: For an INT/DAI pair, the base token would be the DAI address.
Fee Category Values
Contract Addresses
Always verify contract addresses on our official website before interacting.
- AllowListCallback: Configurable list of disallowed accounts for token transfers
0xfd5BBCA6942AC19c6Ce7a65b11F3521237172079 - Api3VrfProvider: Random number generator using API3
0x2e2e91b4dE929ef1D32425ad6A2b0c620eAb591E - Convertor: Convert between bridged L1 tokens and BGC (L2)
0x6b82fDFC0344Bd76d5Cb58BC24D0FfE947975516 - GovTimelockController: Timelock for DAO configuration changes DAO Treasury
0xE05dD5B785f578337B2B8F695Fbc521669c69403 - LiquidityHolder: Holds Uniswap liquidity positions
0xc625A1B37ee44845e0A73e4163Bd9F35EA903FbE - LiquidityUnifier: Allows external liquidity to be transferred to the DAO
0xca3687B1993AdfD3fdb58B4f11fd57B53748E451 - NFT NftDistributor: Distribute weekly IFTs, Mint IFTs using BGC, Redeem IFTs for BGC
0x2beC23ca7d5f75604907E8310bE82deA0100E5e2 - Oracle: Oracle for token pricing
0xA142fD311a9905AB214a07E37Fcc27aff549Ba6f - PickCallback: Initiates picking of the weekly random number
0xFAc5a5a110826D5e70075317c15D65669491C040 - ProtocolGovernor: Governor for voting and configuration changes
0xc5C3a1882Eff9539527D88E2453cAB10d9bc1581 - RewardDistributor: Distributes fees collected
0x76BfDDf9D9aD158cc47d4abba5af7f16A922f865 - RoleStore: Protocol role storage
0xd5D1A16084a116f8a6c2C706C110dBAD2E99Be83
Last updated 1 week ago