MyLottoCoin Stands with Ukraine
Introducing the new Ukraine Super Lotto themed blockchain lottery
After the invasion of Ukraine in Feb ’22 most of their activities were disrupted, causing great damage in their citizens’ lives.
Following our social commitment and area of expertise, MyLottoCoin decided to contribute to Ukraine’s recovery through an initiative, merging entertainment with charity, that synergistically snowballs and sustainably attracts and retains players (i.e. donors).
The Ukraine-themed lottery aims to fulfill the main purpose of lotteries since their inception, which is the fundraising for good causes. In collaboration with WhitePay to support the fundraising platform United24 (u24.gov.ua) launched by the President of Ukraine, 35% of all proceeds goes directly to the Ukrainian Government for charitable causes.
Where exactly does the money go?!
Thanks to the fundraising platform United24, we could choose the destination of MyLottoCoin donations. Looking at their status, we saw a clear need in one of their fronts: the Rebuild Ukraine base was lacking an injection of funds.
Very inline with the origin of lotteries and their historical track record of collecting money to build and develop widely in many countries, we considered this was the most appropriate way to help Ukraine.
Aiming for a long-term participation will enable a continuous financial contribution. As we all know, rebuilding the country is a long-distance race and it might take years. Looking at the current evolution of donations towards Rebuilding Ukraine cause in United24 website (~$660k), it is evident that the amount raised is insufficient and one time donations might not necessarily be sustainable.
They will need every help they can have to get through this and recover some form of normality. This initiative represents a new channel that meets their long term need.
How does the game work?
Standing by MyLottoCoin core principles, in the blockchain version of the UNL-themed lottery, the same rules of the official game are followed.
Draws are scheduled twice a week: every Wednesday and Saturday, at the same time of the official game draws. The same goes for the winning numbers: the exact winning numbers from the official game are used in MyLottoCoin’s UNL-themed lottery, so there is no RNG mechanism to generate the winning numbers other than the official one used by the state-authorized lottery.
The only major difference in this version of the game is that anyone from anywhere around the world can play, as long as they have a crypto-wallet and some BNB to play. Since tickets are paid in BNB, all funds collected, donations, prize and rewards pay-outs are done in BNB.
How are the lottery proceeds distributed?
From the total funds collected through the ticket sales, this is where the money goes:
- 35% goes directly to the Ukrainian Government wallet
that is hard coded in the smart contract for charitable causes, autonomously and transparently.
- 50% goes to the prize pool
- 10% is allocated to the native MYL Play-to-Earn reward program
- 5% goes for Operation, Marketing and Development expenses (unfortunately, nothing comes for free!)
For those newcomers, how does the MYL Play-to-Earn (P2E) reward program work?
From its origin, in order to create a fair lottery for everyone, MyLottoCoin implemented a unique reward program into the core lottery game model.
This is how the MYL token was born. As a purely utility token, its true mission is fo facilitate the reward program distribution, unlike other tokens out there which are purely used for speculation.
For every 5 tickets purchased, players automatically get 10 MYL tokens airdropped to the wallet they paid with. By accumulating a minimum of 100 MYL tokens and holding them in their wallets, players receive 10% of the total ticket sales quarterly in proportion to the amount of tokens held.
This, not only benefits players organically, but also contributes to the snowball effect by knowing that winning is not purely a matter of luck, encouraging more players and raising more funds.
Through the gamification of a simple and true act of humanity, we believe we can have a greater impact on the fundraising mission: by playing and contributing collectively to the jackpot growth, everyone is involved in the natural snowball effect contributing more to the donation percentage.
Whether you’re a lottery freak, looking for a different and sustainable way to help long-term or simply are into blockchain stuff… The choice is yours to come and play. Knowing the bigger goal of this initiative, we feel like no matter the reason behind it, your act of kindness towards such a noble cause will live on all of us.
Your hands in our hands, we will do wonder to Ukraine Together!