Detailed Plan
Mission Statement
Become the largest lottery in the world where 50% of the jackpot rewards to directly to planting trees in deforested tropical areas
How It Works
Step 1 A lottery is created by using ½ of the available funds in the lotto treasury
Step 2 People buy lotto tickets and 49% goes to the current lottery, 49% goes to the lotto treasury and 2% goes to the lotto administration
Step 3 People with winning lotto tickets redeem for prizes in ADA, unclaimed funds moves into the next lottery cycle
Solution Details
- When a user purchases a lotto ticket, they will receive a lottey token with either their preferred number or a random number generated
- To claim a winning ticket, a user will submit a transacation which will confirm if they have a matching winning number token
- 50% of jackpot rewards will go to the winner (less taxes and government fees) and the other 50% will go to a company like Veritree (https://veritree.com/) to plant trees
- The lotto will follow a 6/49 lotto winning format (eg. match x numbers and win y)
Solution Benefits
- Planting trees in deforested tropical areas, which if done on a global scale could remove up to ¼ of the annual global fossil fuel emissions[2]
- By leveraging smart contract capability, the lottery can be a trustless, blockchain program, eliminating custodial and operational risk
- Cardano could become a world leader in fighting climate change which will increase adoption
IP
All software created will be licensed under an open source license and can be used a template for other potential lotteries built on Cardano
Market
The lottery blockchain market has a lot of new market participants using Ethereum and Binance smart contracts but none are claiming 50% jackpot rewards to help combat climate change.
- <https://medium.com/stakin/overview-of-the-blockchain-lottery-ecosystem-cbd80c841ff7>
- https://www.dapp.com/search_product?keyword=Lottery
Acquisition
- Google cost per click is ~ $1, so $10K will attract 10K views for first 3 months, with 10% conversion rate for 1K users
- Bloggers, Podcasts, News and media outlets talking about 'The Climate Change Lottery' may generate another ~100K of views for 2% conversion rate for 2K users
- Referral and word of mouth may generated another 10K of views with 5% conversion rate for 500 users
The lottery after first 3 months of the public launch
- Total website views = 120K
- Total users (unique wallet addresses) = 3.5K
- Total NFTs minted 17.5K (5 ADA average spend, each ticket is 1 ADA)
- Total transactions ~20K (NFT minting + burning)
- Jackpot payouts ~ 5K ADA*
- Trees planted = ~2.5K*
* variable based on lottery payout
Monopoly
As the progressive jackpot and lottery treasury increases, new entrants will be at a competitive dis-advantage
Funding Request for Fund 7 Cost Breakdown ($17K)
- $2K - Website design & content
- $15K - Android app development
- $0 - Plutus development & deployment *
* I'll work on this for free
Funding Request for Fund 8 Cost Breakdown ($33K)
- $3K - Company setup
- $10K - Marketing Campaign
- $20K - Lotto initial treasury
Timeline
1 Month
- Lotto smart contract alpha and deploy to testnet
3 Month
- Lotto smart contract beta deployed to mainnet
- Android App MVP build completed and connected to testnet
- Static website and marketing materials created
- Establish the DAO in a legal jurisdiction
6 Month
- Lotto smart contract MVP on mainnet
- Android App MVP is live on playstore
- Website MVP is fully functional
- Marketing ad campaigns have started
- Lotto license(s) if applicable
Note: MVP = Minimum Viable Product
1st year target for success based on Fund7/8 funding only
- 500K views
- 10K users
- 20K ADA winnings
- 50K ADA jackpot size
- 10K trees planted
Looking for people to help
- Social Media Manager
- Graphic Designer
- App Developer
- Others?
I've set up a telegram channel for those who are interested in helping out or finding out the latest news about the project. <https://t.me/climatechangelottery>
Open to feedback and suggestions!
About the Proposer (Lawrence Ley)
- 20+ yrs in web application development
- Computer science degree at University of Toronto
- Enrolled in plutus pioneers program 2nd cohort
- Crypto and open source enthusiast, hobbies also include projects using Arduino & Raspberry Pi
- Retiring from my day job this year and looking forward to working on Cardano full time starting in 2022
- LinkedIn profile: <https://www.linkedin.com/in/lawrenceley/>
Citations
[2] <https://carbonremoval.economist.com/afforestation-and-reforestation>