Update to No Loss Lottery
Pool Bakance Update
Pool Balance increased to 293 Cub accumulating interest at 112%
29 more entries to pool today.
I am very happy to increase the pool size by a lot today.
Updated Entrant Ledger
The No Loss Lottery is like a lottery and like a savings account...
... but with certain parts of each, selected for their goodness and put together to make something perhaps better than either one.
It’s part Lottery
The No Loss Lottery does have an element of the random big prize being awarded to a lucky winner who purchased a Ticket. Your deposit buys you a chance at winning a monetary prize much bigger then your One Leo.
So in the way it’s like a Lottery.
It’s Part Savings Account
In a No Loss Lottery you buy a ticket with a deposit of one Leo. But you can always get your Leo deposit back by requesting it. So in that way it’s like a Savings Account.
But it’s different from a Lottery
A Lottery does make you buy a ticket every week. But in a No Loss Lottery, as long as you leave your Leo deposited you are automatically entered in every weeks drawing.
And it’s different from a Savings Account
In a Savings account you get paid interest each year, from 0.1% to 2.0% currently at banks. If you deposit your Leo in the No Loss Lottery, your Leo is part of a shared pool of Leo, which is deposited in a DeFi Account paying 60% to 278% interest. But unlike a Savings Account you don’t get paid the interest on your money. You get a chance to win the interest on every bodies money in the pooled account!
Random Interest Payment
In the No Loss Lottery your money is never lost, you deposit it, and leave it in to enter every weeks lottery. You don’t get paid regular teeny tiny interest payments, but you get a chance to win Big, the interest from everyone’s deposits. So it’s randomly awarded interest payments.
The No Loss Lottery is a Hybrid of a Savings Account and a Lottery.
The No Loss Lottery combines the Money Safety aspect of a Savings Account, with the Large Prize aspect of a lottery.
How do you enter?
First, Send one Leo or more, to @nolosslottery
Second, you will be assigned a number.
Third, the list of entrants is published daily.
Fourth, a Google random number generator is used to pick the winner.
Fifth, the winner’s name and number is published weekly.
Sixth, You are entered into the lottery every week as long as you leave your Leo there.
Seventh, the creator of No Loss Lottery @shortsegments has deposited a Reserve, an amount of Leo which generates interest, but for which there are no assigned numbers, so it doesn’t compete for prizes.
Eight, you may request your Leo back the day after the Lottery. But I suggest you leave it in, to qualify for the next lottery. Expect 1-2 days, although I will try to provide same day service.
That’s the Update!