Ideas on a lottery ??
Should def be implemented into the WHEAT platform. A good source of burning, lotteries are fun, and it gives incentive to buy WHEAT.
I agree 100%
Maybe only bought with BNB BUSD or other to bring new funds to Wheat ?
My idea is once you buy a ticket, you always have a chance !
Idea for the lottery that helps provide liquidity to the wheat-bnb pair and buy pressure:
Contract holds funds used to buy tickets in the wheat-bnb vault: Safe vault with high yield, only PCS and wheat exposure. All farmed wheat is staked into the wheat vault.
Tickets are bought with BNB, 50% is used to buy wheat to help provide buy pressure and allow for wheat-bnb vault usage
Daily drawings will pay 0.1% of the contract’s wheat vault holdings in wheat, weekly drawings will pay 1% of the contract’s wheat vault holdings in wheat. Tickets are always eligible for the daily drawing but only tickets bought the week of the weekly drawing will be eligible for the weekly drawing.
If possible tickets could be dynamically priced at 1 wheat in BNB so at low prices people with a long term outlook who buy for the daily lottery will buy “cheap” tickets for higher odds of winning daily which will help support the price, kickstart the lottery, and in the future if the weekly payouts get big the people who bought tickets early to support the price and the lottery won’t get diluted as quickly.
Wouldn’t even need a burn mechanism since the wheat-bnb vault would never be touched and the wheat vault will only pay out 1.7% weekly so it will likely grow over time as well
Very interesting, I like some of your ideas but have some operational and logistical issues to work through, and with having dev power tied up in MOR it makes this something that may need to be done manually at first… And it could be difficult implementing some of this manually the way it needs to be done… Will ponder this deeply and get back to you with a detailed post soon…