DragonBall: Introducing the first real-life lottery on BSC powered by Chainlink VRF

Iron Finance
3 min readApr 30, 2021

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Earlier in April, we announced the development of our own lottery. We wanted to make a truly unique and real-style lottery, using our partial collateralized stablecoin, IRON token, which allows players to win significant prizes!

Our lottery, called DragonBall, could be the very first decentralized lottery in the crypto space, allowing the player to freely pick the numbers, pay for the ticket and win the prize in a stablecoin, just like a real lottery! The player can either manually pick the lucky numbers, or a randomizer can choose the numbers as well and one ticket costs only 2 IRON!

DragonBall was inspired by the lack of real-style lotteries on the blockchain and we compared various non-crypto lotteries to come up with our own, that best serves IronFinance and the players! The user has to pick a total of 5 numbers from two tables:

- 4 numbers between 1 and 35, plus

- 1 number, called the DragonBall number between 1 and 24

The uniqueness of our lottery also comes from the possibility to win prizes with the winning numbers in no particular order. Unlike with PancakeSwap, where the user is given a ticket with random numbers which can’t be modified and where 1,2,3,4 does not win if the winning combination is 2,4,1,3, with our DragonBall lottery, just like with many real-life lotteries, if the user bought the ticket for 1,2,3,4 + 5 and the winning numbers are 3,4,1,2 + 5 then it wins the jackpot! This means you can match the winning combination with the first four numbers in any order!

We are very proud to announce that DragonBall will use Chainlink VRF (verifiable random function) for the generation of provably fair random lottery numbers to ensure maximum fairness.

There will be one drawing every day, the result will be published the same day at 2 pm UTC. Tickets can be purchased from May 6, 2021, and the first lottery drawing will start on Saturday, May 8, 2021.

Winning combinations

  • Jackpot! Match all 5 numbers. These are tickets that match the first 4 numbers in any order AND match the 5th number (the DragonBall number)
  • “Match 4”: Tickets that match the first 4 numbers in any order (not counting in DragonBall number, i.e. the DragonBall number has been missed)
  • “Match 3”: Tickets that match the first 3 out of the first 4 numbers in any order (not count DragonBall number)

Guaranteed minimum prizes

  • Each round will start with a minimum prize of 30k IRON
  • All ticket revenue increases the current prize pool
  • 80% of the pool size will be rewarded to the Jackpot winner, 10% for matching 4 numbers, and 10% for matching 3 numbers
  • The prize will be divided equally if there are multiple winners in a category
  • For a category without a winner (for example, if no one matches 4 numbers), the prize money will be allocated to the next round
  • Note: parameters can be adjusted after lottery results are live

Ticket price

  • Price: 2 IRON per ticket (can be adjusted in the future)
  • Players can pick their own number or generate them randomly

Taxes

A 30% tax rate is applied on the winner’s prize (automatically deducted)

• 10% (1/3) of the tax is used to buy and burn STEEL token

• 10% (1/3) is used to buy and burn DND token

• 10% (1/3) is allocated to the lottery prize pool

Note: parameters can be adjusted after lottery results are live

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Iron Finance
Iron Finance

Written by Iron Finance

Building a user-friendly, multi-chain stableswap and lending ecosystem. Community chat: http://discord.gg/ironfinance

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