Welcome to the world of draws on the marketplace! Explored the marketplace and discovered a variety of raffles listed? Each raffle offers the chance to win an RWA. From precious metals to rare collectibles, the possibilities are endless. Simply choose the raffle that catches your eye and purchase a fraction or a whole ticket to enter. The bigger the fraction you purchase, the higher your chances to win!
Hold and Wait
After purchasing your ticket, hold onto it until the end date specified in the ‘Properties section’ of the raffle.
Snapshot and Draw
At the end date, a snapshot is taken of the wallets holding the raffle tickets. This snapshot ensures that all participants at the time of the draw are included. Using an innovative on-chain raffling algorithm (third party), winners are randomly selected via a random seed from Chainlink VRF. It’s a fair and transparent process of the draw.
How Does the Randomizer Work?
Imagine there are two participants in the Silver Raffle. Participant A holds a 98% fraction of the raffle ticket, while Participant B holds a 2% fraction. Now, when it comes time to select the winner, each participant’s odds are directly proportional to their share of the total pot, rounded to the nearest number.
Participant A (98% Fraction): Participant A’s wallet is entered into the randomizer 98 times. This means that there are 98 chances out of 100 that Participant A’s wallet will be selected as the winner. Their significant share of the raffle ticket pot reflects their higher likelihood of winning.
Participant B (2% Fraction): Participant B’s wallet is entered into the randomizer 2 times. While Participant B’s odds are lower compared to Participant A, they still have a chance to win. Their smaller fraction of the raffle ticket pot is reflected in their fewer entries into the randomizer.
By inputting each participant’s wallet into the randomizer according to their fraction of the raffle ticket, the process ensures that everyone has a fair opportunity to win based on their level of participation. The chances of winning are directly tied to your stake in the raffle.
Redemption and Rewards
Imagine the thrill of receiving a notification that you’ve won a valuable real-world asset simply by participating in a raffle. The winners will be notified via e-mail as well as social media announcements from Polytrade’s official handle. To claim your airdrop, simply reply to the email or contact us on Twitter to confirm your wallet.
Conclusion of Raffle
After the draw, the raffle ticket itself will be removed from the marketplace, as the snapshot has already been taken. Don’t worry, there are always new raffles and opportunities awaiting you!