Apply for a Project Lottery

The Propellor Lottery System is a fair and transparent way to allocate tokens during the raise. This article provides clarity on how the lottery system works and what happens for both winners and non-winners.

Lottery Mechanics

• To participate in a token raise, you must commit stablecoins as collateral, known as your “desired allocation.” This represents the maximum amount of stablecoins you are willing to spend, which will be locked in a smart contract until the conclusion of the lottery.

• Next, choose how many tickets you want to add to the raise. Each ticket gives you a chance to get the minimum allocation. The more tickets you add, the greater your chances of receiving your full desired allocation.

• The draw occurs after the registration period ends, determining the winners. 

• Your winning probability is based on the number of tickets you enter compared to the total number of tickets. For instance, having 10 tickets in a draw of 1000 gives you a 1% chance for each ticket. In other words, the more tickets you enter, the higher your cumulative chance of winning. 

• If your tickets are drawn, you will receive an allocation proportional to the number of your winning tickets, up to your desired allocation. For example, if the minimum allocation is $100 and you have 3 winning tickets out of 5, your allocation will be $300.

Claiming Unallocated stablecoin balance

• If you do not win the lottery, you can easily identify and reclaim your unallocated stablecoins. The amount available to claim will be shown on the project’s page, indicated as “Claim Balance ($xx)”.

• To claim your unallocated stablecoins, click on the “Claim Balance” option directly on the project page or go to your Portfolio page on Propellor. From there, you can claim any unallocated stablecoin balance from the lottery you participated in.

• After confirming the transaction, the unallocated stablecoin will be transferred back to your wallet, and your Propellor Portfolio will update to reflect this.

• Multiple Chain Positions: If you hold positions on multiple chains, you must claim the balance from each position individually, one at a time.

• Raise Target Not Met: If the raise doesn't reach its target, the lottery won't occur. In this scenario, every participant will receive their desired allocation. Additionally, any unused tickets will return to your tickets page. You can then claim these tickets in the 'Claim Tickets' area.

Editing Allocations

• To edit your allocation, click on "Edit Allocation." This option is available on the platform and is specific to the blockchain network you’re currently connected to. 

• In the popup, you'll see a prefilled form displaying your current allocation and a graph of your chances of winning. Feel free to adjust your desired allocation or the number of tickets. These changes will affect your potential lottery outcome.

• Once you've made changes, confirm them to update your participation details.