The traditional lottery is broken: High fees, low transparency, rampant fraud, major social stigmas against players, and no support system for players who win, steal the dreams of people playing a game in the hopes of living a better life.
Ludum mission is to build an international, un-cheatable, anonymous lottery that gives anyone in the world a real and honorable chance to change their lives. It will be backed by a community of passionate players and investors who support each other. A large portion of the lottery revenue will go towards social causes around the world.
In order to fulfill our mission most effectively, the entire lottery will be fully transparent: every ticket we sell, every winner selected, and all financial results will be published on a publicly viewable blockchain. The second goal is to make LUDUM completely decentralized. Ludum are using the Stellar blockchain network to achieve this. The long-term goal is to create a platform which will enable private enterprises, nonprofits and governments to launch any form of financially incentivized online game, not just lotteries or gambling. Further details are outlined in the
|Max. market cap at ICO||330,000,000|
|Hard cap||330,000,000 LUD|
|Whitepaper||Click Here For View Whitepaper|
|Website||Click Here For Visit ICO Homepage|
|10%||Token Holder Game|
|17.5%||Marketing & Operations|
|10%||Global Social Causes|
This section is for people who have found this whitepaper and know very little about blockchain technology. If you understand the tech, you can skip to the next section. There are some excellent articles written about blockchain tech; they are so good that we couldn’t hope to do any better in explaining how it works. Therefore, and to keep this whitepaper as brief as possible, we’re going to refer to these sources to get you up to speed on some of the technical terms we are using in this document:
Ludum have completely reinvented how people play lottery games online. We use blockchain technology to make a game that’s completely transparent, fully anonymous, global, and impossible to cheat.
● Complete Transparency
● Instant Payouts
● Impossible to cheat
● Higher odds of winning
● An international audience, completely anonymous.
● A socially conscious mission Below, we will discuss all of these solutions in greater detail.
On the LUDUM platform, all lottery matters are 100% implemented using blockchain technology and open source code available on GitHub. Ticket purchase, random number generation for betting and draws, prize fund
composition, prize ticket verification, prize distribution and other operations are all viewable by external parties.
Prize payouts are executed instantly, no third parties involved. All payments and transactions are recorded in the open registry (blockchain ledger) and any player can check for themselves if we’ve distributed the prizes.
Impossible to cheat
Due to the transparent, secure nature of the blockchain technology, cheating is impossible in this game. The source code of the game is open, all transactions are open and the encryption of the blockchain is impossible to break with any technology available in the next 10-15 years.
Prize fund distribution
The system automatically converts every ticket purchase to Tether, the most stable cryptocurrency (if this changes in the future, we’ll make adjustments). This prevents the jackpot fluctuating based on the volatility of the cryptocurrency market. It then transfers funds to the prize fund of the lottery. The platform prize fund is transparent and always open for viewing due to blockchain technology, and accounts for 60% of the ticket cost.
The business model for token holders is completely transparent: Every sold ticket, winnings, withdrawals and operational expenses will be visible for every LUD token holder and recorded onto the blockchain.
The main service that generates Ludum’s profits is ticket sales. Tickets cost $3 USD. Our basic estimates suggest we will sell about 15.000 tickets per day when we start out. This is only about 0.4% of the global online gambling market and doesn’t account for the billions of new players we will attract into the market. After the launch of our marketing offensive and growing of the community, the daily sales will easily reach 150.000 sold tickets per day within 3-6 months of launching (10x increase). After a player buys a ticket, the funds will be distributed as follows:
● 60% goes directly into the prize money
● 10% go into marketing
● 10% into global social causes
● 7.5% for fees & operations
● 10% for the token holder game
● 2.5% for referral awards
The prize money is distributed as follows:
● 1 Grand Prize(Jackpot): 50% of total prize money (6,800,000$)*
● 10 Second Prizes: 25% ( 3,400,000$ = 10x 340,000$)*
● 100 Third Prizes: 25% of prize money split across the 100 tickets (3,400,000$ = 100x 34,000$)*
Oliver Backe CEO
Jamal Nichols Chief Design Officer
Also Read – Click Here for Read All ICO Review
[su_quote]This article is writing on 1 July 2018 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: [email protected] Or Whatsapp Us- +13098896258[/su_quote]
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