ETH Lottery is the first fully decentralized and transparent lottery managed by an Ethereum smart contract. In order to fulfill our mission in the best possible way, we are making the whole lottery fully transparent, eliminating any third-party involvement in the lottery process and management of funds.
Therefore, all tickets told and results are available to the public and recorded on the Ethereum blockchain without 3rd party involvement. As the first step, we plan to create ETH Lottery tokens (called ETHD) which will grant holders an access to our first ever ETH Lottery and entitle them to earn 15% on ticket sales on future lottery. ETH Lottery tokens crowdsale ("ICO") goal is set at 7500 ETH. Up to 60% of the funds raised will be allocated to the Jackpot. We will also launch a Token Sale in order to distribute 70% of all ETH Lottery tokens within the community. The team will own 20% of the tokens to remain motivated to keep on developing the project. The remaining 10% will be used to pay for advisers, escrow and bounty services. All unsold tokens will be burned.
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