880% of ICOs are not backed up by any product prototype.
Fire Lotto is a finished product that has already been launched.
It is questionable if traditional lotteries provide for fair play.
Code audit show that most blockchain lotteries are either centralized or designed so that their creators hold the right to use the prize pool.
Fire Lotto is built on the Ethereum blockchain and uses a secure Random Number Generator based on the Bitcoin decentralized protocol.
The program code is available for inspection.
Most blockchain lotteries have difficult interfaces.
While designing Fire Lotto, we made sure that it would be easy to use even for those with only basic computer skills.
We have developed an unique one-click buying mechanism which is fast, convenient and secure.
At the pre-sale stage, Fire Lotto tokens (FLOT) will be sold at a fixed low price.
The token holder will receive a commission from each ticket sold in every drawing.
Commission payouts are secured by smart contracts and provide token holders with an almost endless source of income.
The price of Fire Lotto tokens will constantly increase.
A total of 100 000 000 tokens will be issued.
The initial price will be USD $0.70.
For the participants in the bonus program, the minimum price per token will be USD $0.50.
During the open round of sales, Fire Lotto tokens will be offered at a price of USD $0.38 per token.
Funds raised in the closed round will be used to generate a minimum prize pool of USD $1,150,000 and finance an advertising campaign for the ICO.
Prize pool generation:.
|Lottery type||Prize pool, USD||Price per ticket, USD|
|1. The 4/20 lottery||$10 000||$2|
|2. The 5/36 lottery||$100 000||$2|
|3. The 6/45 lottery||$1 000 000||$2|
|4. Roger’s Wheel||$40 000||$2-$1000|
|$1 150 000|
Unlike other ICOs, Fire Lotto’s ICO will follow the launch of the lottery rather than precede it.
The lottery launched on January 1, 2018 and its source code is available on Github for inspection.
The lottery launched in operating mode, which means that users have been able to enjoy all of its features, including the ability to play and win.
From the moment the lottery was launched, transfers have been (and will continue to be) automatically made within the smart contract to from the wallet responsible for collecting dividends to the wallets of token holders.
If we raise an insufficient amount of funds in the closed round, we will launch an open pre-ICO round with tokens sold for 0.38 USD per token.
The open presale round began on January 15, 2017 and will close on February 15, 2018. The ICO round will start on March 15, 2018 and close on April 15, 2018.
When the ICO opens, investors be able to see not only a finished product, but also: 1) a huge prize pool that can be won; 2) real-time dividend distribution among token holders.
This is the first time ever a system like this has been implemented, and it is a distinctive feature of this project.
Within one week of the ICO closing, tokens will be transferred to the wallets of investors.
Since the launch of the lottery, 10% of the funds raised in tickets sales have been transferred under the smart contract to a special crypto wallet responsible for commission pay outs.
The first distribution of collected commission among token holders will take place on the second day after the ICO closes, and commission will be paid in ETH.
After the initial distribution, lottery tickets sales commission will be paid within 30 minutes after each lottery drawing.
Our tokens will be listed within one month from the end of the ICO period.
Fire Lotto tokens will be listed on one or two Top 10 exchanges, one or two Top 20 exchanges, two or three Top 30 exchanges, and EtherDelta, a decentralized exchange.
The amount of money is not limited.
Tokens will be sold at a price of 0.25 USD per token.
Funds will be converted to ETH by the lottery organizers at a current exchange rate between ETH and the currency which the participant uses for making payments.
This means that participants will not have to lose more than 7% when buying cryptocurrency and monitor the constantly growing exchange rate for Ethereum.
The tokens which have not been distributed will be frozen for one year.
They will later be sold to investors.
Token prices are influenced by a lot of different factors, including political and economic ones.
You can compare Fire Lotto with TrueFlip, an online lottery that is already operational.
If you look at the diagram below, you will see that the average price of the TFL (True Flip Lottery) coin is about USD $1 (USD $1.05 as of October 20, 2017).
Based on this data, one could reasonably expect the price of Fire Lotto tokens to eventually exceed USD $1.
Experience: General Director of GOSLOTO.
Vice President of Ritzio Entertainment Group.
Education: The Russian Presidential Academy of National Economy and Public Administration (RANEPA).
Financial degree: MBA “Strategic Management”, Management diploma: "Corporate Management - Corporate Finance".
Specializes in the sales of banking products and personnel management.
Worked in banks more than 13 years (6 years as a branch manager of one of the TOP-50 Russian banks).
Education: Moscow International Higher Business School (MIRBIS).
Financial Degree: MBA “Financial Management”.
Senior Legal Counsel for the Russian Federation, Compliance Officer for the Russian Federation, Central Asia and Caucasus Countries at GROHE.
Has more than 17 years of experience in law.
Provides full legal support to Russian subsidiaries of foreign companies (Wella, Peugeot, Knauf Insulation).
An expert in gambling games theory, game protection and risk management.
15 years of experience in casino surveillance and security.
The developer of game control and analysis methods.
Author of training programs for casino personnel.
Education: State University of Aerospace, Financial University under the Government of the Russian Federation Technologies.
Diplomas: Engineering, Economics.
Director of Career Management and Adjunct Professor Master of Quantitative Finance at Rutgers Business School.
Finance Industry veteran with 30 years of expertise focusing on Indexing and ETFs.
Ronnee worked at such companies as Dow Jones, Bloomberg, Markit, FTSE Russell.
Owner of RAA Consulting Services.
PR and Marketing Communications Specialist, Producer.
Produced CryptoSharkClub, CryptoSharkParty, Hackathon FutureTech and the Blockchain award "Results of the Year".
Worked in external communications for Rosneft and MMK.
Education: Saint Petersburg State University, National Research University Higher School of Economics.
Degrees: Sociology, Marketing.
Robert Matuk Strategy & Marketing - iGaming, eSports & Freemium Games.
North American iGaming Group Ltd.
Education: McMaster University.
Serial entrepreneur since the year 2000.
Blockchain and gambling solutions developer, blockchain speaker.
CEO at Cash Poker Pro.
Growth hacker/influencer with two equity exits.
Advisor to Science Blockchain Incubator (Dollar Shave Club) and DNA Fund.
He has worked with over 15 ICO’s that have collectively raised over $1 billion.
In the past year, he has generated 1B+ impressions, 18M communities, and 3M app downloads.
Stanford University Startx Alumni.
Chairman at LDJ Capital.
Over 25 years of experience in finance and asset management.
His company’s extended network of funds of funds and hedge funds manages $1.5 trillion in assets.
Vast knowledge of the digital asset class.
Has spent years serving as a bridge between capital and premiere brands.
Lead LDJ Capital Special Situation’s investments in Alibaba and Palantir, and organized over 1100 industry-leading events sponsored by NYSE, KKR, and the Carlyle Group.
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