CryptoMeda Lottery System Explained
Hey CryptoMeda Heroes,
We are very excited to see how our Cryptomeda universe is expanding, and are very optimistic about the future. As many of you know, we have launched our staking and farming protocols, allowing CryptoMeda heroes to earn passively for holding $TECH.
Our staking platform launched on September 23 and was a resounding success, with more than 26 mil TECH tokens locked in less than three days! The APR currently remains very high, at 66% in the staking pool and 714% in the farming pool. Thank you so much for your ongoing support!
The Lottery System: Win FREE NFT’s
Now that our staking platform has successfully launched, we are excited to share information about the launch of our weekly lottery draws. Cryptomeda wants to reward you generously for staking and farming your tokens, so besides earning weekly $TECH rewards, you have the opportunity to participate in a weekly lottery to win NFT collectible cards.
As you know, all Cryptomeda collectible cards have value due to the limited number of each card and the deflationary nature of the cards. Besides selling or trading these cards in the Cryptomeda ecosystem, these cards will play an important role in the upcoming MedaWars game.
The first official draw will take place on Sunday, October 10, 2021. Here’s what you need to know to get in on the action!
Stakers can participate in these draws by staking TECH tokens, alternatively farmers can get involved by staking LP tokens for a period of one week. At each draw, a limited number of NFT cards will be given away. These will be distributed equally between the standard staking and liquidity staking pools. Each TECH or LP token staked is worth one ticket, so the more you stake, the greater your chances of winning NFT cards!
Each staking season will start (and also end) at 23:35 UTC every Saturday. The publication of the results and distribution of NFT cards will happen within 24 hours after the season closes. The first lottery will take place on Sunday October 10, 2021 where 60 NFTs will be distributed between the two lottery pools. Weekly lotteries will continue thereafter.
NFTs are distributed to the staking and farming pools equally. New collections are created every two months. When we have 240 pieces in a collection, we will distribute 30 pieces weekly between the two pools, i.e. 15 pieces to each pool weekly.
The minimum to enter the draw is 1000 TECH in the standard staking pool, with no minimum required to enter the draw in the farming pool. As mentioned before, each staked token (TECH or LP) is worth one ticket, and each wallet can win a maximum of one NFT per lottery. The staking time is not important in the calculation. You are eligible for the lottery if you meet the minimum requirement and you start staking before the end of the season.
The lottery will be administered by a smart contract created by Cryptomeda. Its function will be to take data from our back-end (i.e. from the blockchain) and conduct the lottery for all eligible participants from the staking and farming pools. The lottery contract will use Chainlink’s VRF function to draw the winners.
The weekly lottery draw provides an exciting opportunity to expand your collection of NFT collectible cards. Start staking now for your chance to win cards from the very first collection of NFT collectible cards on October 10, 2021!
Cryptomeda is a gaming ecosystem that uniquely blends NFT collectibles, DeFi mechanics, and iconic crypto characters into an exciting fantasy world. Players of all experience levels can explore Cryptomeda and find various opportunities to earn; whether it is finding rare collectibles, winning prize pools, receiving ranked rewards, or acquiring an ultra-rare Revolution card, traversing the world of Cryptomeda is both fun and highly rewarding. To tie the world together, all economic activity is facilitated by one unified currency — TECH.