Review on Fire Lotto by Fabrizio Zampieri
Fire Lotto, a Hong Kong based company, is an innovative decentralized lottery…
Fire Lotto, a Hong Kong based company, is an innovative decentralized lottery platform based on the Ethereum blockchain.
Fire Lotto offers two types of lottery games: a draw and an instant win game.
The lottery platform has a licensed cryptocurrency exchange with a user-friendly interface that allows players to buy lottery tickets both with cryptocurrencies and with money (using a credit card or Paypal).
Token holders receive a 10% commission on all sales of lottery tickets, which is paid in ETH every two months (to receive a commission, user must have more than 500 FLOTs in his/her personal wallet). Tokens can be held as a resource or can be used to play.
Fire Lotto main features:
- the platform has no server and is all based on smart contracts;
- the complete decentralization of the platform makes it independent, autonomous, anonymous, secure and transparent;
- 70% of lottery ticket sales go to the prize pool. Thanks to the low cost of running a blockchain-based lottery, Fire Lotto offers a higher percentage of jackpot profits than a traditional lottery can ever make;
- new blockchain-based games are added to Fire Lotto, as it quickly gains popularity,
- the source code is public, and anyone with Internet access can play, invest or become an affiliate. Fire Lotto is currently already hosted on 120 affiliated sites around the world.
Fire Lotto (FLOT) is an ERC20 token based on the Ethereum blockchain. Fire Lotto has a current supply of 100 million FLOT with 27 481 717 FLOT in circulation.
FLOT is tradable on TopBTC, Livecoin, Crex24 and YoBit exchanges.
Pros
- - Innovative project (Fire Lotto is maybe the first totally decentralized lottery platform in the world based on the Ethereum blockchain and managed by smart contracts without any human intervention). - Fire Lotto platform already working (total prize money has exceeded 1200 ETH). - Almost instant payments (guaranteed by Fire Lotto's smart contracts). - Fire Lotto winners remain anonymous. - Fire Lotto publishes all data on ticket sales, collections, costs and other performance indicators. - Platform multi-languages. - It cannot be banned by any government or state monopoly. - Important and profitable referral program.
Cons
- - Fire Lotto is a young project, still in early stages. - Many competitors lottery projects are growing. - Fire Lotto ROI: -82,18% (the approximate return on investment if purchased at the time of launch).
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Comments (2)
October 29, 2020
As a result of very good information and solid research, I congratulate you, you have provided very solid information, and I agree with you about the platform. I was thinking of writing an article about this platform, but you explained it in a very nice way, sir.
