RE: Hive-Based Deflationary Lottery Protocol (HDLP)
You are viewing a single comment's thread:
Some things I would change:
don't include voting, make it cost liquid hive and/or hbd only. Odds to win are based on amount of tickets/entries.
No burning of hive/hbd.
Smaller operator fee, 1% maybe or post rewards if it seems to raise enough interest by the community/others*
Allocate part of the funds towards other things you mentioned like referrals.
Try and avoid any and all forms of sybil attacks getting an advantage, I.e. referral rewards are based on referred accounts participation/input.
*Smart contracts are nice and in the future include outside participation through evm addresses easily swapping stable tokens/coins through vsc/other swaps and price distribution out the same gate.
just some things at the top of my head but interested what others think.
I've been thinking about this one quite a bit... Here's my reasoning behind it.
If your vote doesn't get up to 10 cents, but you want to participate "for free" wouldn't that not motivate you to power up more? Thus creating a stronger population of minnows?
I thought about this because I was thinking it would make big stake holders feel at ease with something like this running. Meaning, they would not feel like its extractive. But, as I told Eco, I'm more than willing to change my mind on this.
Thanks for the feedback bro
I'd be interested in hearing what people think about the voting aspect, based on the amount of gamification and burning it could maybe work as long as it doesn't start counting like a "self-vote". I.e. people voting on hbd.funder don't get anything more than 50% curation rewards but the rewards help stabilize hive and or turn some profit for the DHF which helps everyone.
If gamifications are that there's always some winners and more likely those with a lot of stake it may take away a lot of voting power from curation/other more beneficial things from hive if average return is consistently higher than 50% curation rewards for instance.
Either way, a good idea and might make for interesting discussions and possibly even better additional ideas so interested to see how it plays out. Maybe votes can involve some bonuses along with burning some hive - or use it to market the lottery and our blockchain in regards to bringing traffic and volume from the outside in - even if temporarily (if they win and want the rewards back in original coin).
if this idea was to be built into something fun, gamified to the nth power. I could see it being very valuable as a "bait" so to speak. Bringing outside eyes into our ecosystem. Once they are here... Well, they see "Oh wow.. there's this, and that... ohh how cool"
Yeah definitely, the reason I like the fee or "house edge" to be as low as possible (0 preferably) is that others can't compete with that. If we could build a lottery that's evergrowing and selfsustainable and gives you higher than regular lottery odds to either often win something at least while maintaining a growing jackpot it could change a lot of things about lotteries. Maybe the DHF could even help sponsor with additional prize funds over time if it proves to bring in outside money.
Found this at first search: https://www.pbs.org/wgbh/pages/frontline/shows/gamble/odds/house.html
shit's such a scam, if we can improve that it'd make a big difference many would feel and even though we'd have to start small with chains becoming everconnecting, PayPal and venmo accepting crypto, etc, who knows, we could have people move away from the regular lotteries and onto transparent and more fair ones.
i like where your mind is at
Another thing, if there doesn't have to be a winner, or winning ticket has to be very close to output making it rare for a "jackpot" winner to be picked, have previous entries roll over to next so they're not wasted fully but deflate somewhat.
I.e. if 2 people pay 10 hive to win ~20 hive but no one wins that week, they still have ~100 entries per person next week (0.1 hive/entry ticket) minus a certain % so those entering next week with 10 hive have slightly higher odds since previous ones already had a shot at it.
or some kind of gamification like that where if one user buys 10 hive worth of tickets every week increases his odds to win eventually.
oh, i get it... makes sense.. i like it