Place/Date: Singapore - October 25th, 2018 at 4:16 pm UTC · 4 min read
Contact: Donocle, Source: Donocle
The platform is built adopting the blockchain technology and also uses Open Data Flow to ensure that users are able to monitor and validate the flow of money. Donocle is basically derived from the words ‘Donate’ and ‘Circle.’ Adhering to its denotation, the platform allows users to contribute a certain percentage of their earning to the Donocle Foundation and retain the remaining amount in their wallet.
Donocle has an easy-to-understand and interactive user interface that allows players from across the world to seamlessly participate in online lottery activities. To begin the lottery process, users can acquire lottery tickets with any of the 50 tokens available on the network. Subsequently, each player is offered a unique six-digit number that is generated by the BTC counter.
To ascertain transparency, the overall number of coins issued along with sales numbers and prices are made public on the network and as the sale progresses, these figures are constantly updated.
To purchase lottery tickets, users must sign in and create a wallet, immediately after that, they are provided with a dashboard where their respective numbers are exhibited. Furthermore, the prices of these tickets are identified as per the existing value of BTC on the cryptocurrency exchange. The price of one Donocle ticket is secured at the same unit on ETH, LTC, MIB, XRP, and the DON exchanges.
Once the users have purchased the lottery tickets, 70% of the money is distributed amongst the lottery winners depending on the composition share. 3% is contributed towards charity donation, and the remaining money is used toward operational purposes and POS system (Proof-of-Stake).
The decentralized Donocle platform allows users to earn a guaranteed return on investments. Users pay crypto coins, tokens, MIB coins, or Donocle tokens to acquire tickets, and by the end of each session, the platform collects funds in these diverse cryptocurrencies. The network uses 10% of the acquired amount for Airdrop.
Donocle Airdrop enables users to deposit their tokens in the Proof-of-Stake system and avail regular incentives in return. When they retain their funds in the POS system, they get tokens based on the POS proportion.
Donocle offers various lottery games to its users to play and win rewards. As of now, the platform has two games:
It is a simple and fun game where players have to match numbers from 1 to 49. The raffle ticket is announced on every Sunday at 00:00 UTC, and the block nonce value acts as the raffle number. To determine a winner, blocks are generated in the BTC blockchain for the six canceled blocks. If there is no winner in a session, then the money is transferred to the next session until there is a winner.
In Mini Lotto, the nonce value of a single block determines the winner. The network updates winning numbers every day at 00:00 UTC. Moreover, this game allows number overlapping and players don’t have to match the 5 numbers. The winning prize money, similar to 496 Games, is transferred to the next session to determine a winner.
There are primarily three technologies that strengthen the core of Donocle network. The Donation Global Blockchain Lottery System (DGBLS) is one, which is a reckoned technology in online sports management. The SmartX platform is the other, that uses Blockchain Hash Algorithm to make the platform quite simple, inexpensive, and lightweight.
Lastly, there is the Blockchain Donation Direct Transfer System that aims to transfer funds to beneficiaries in a secure and transparent manner.
Donocle works with an objective to eliminate key challenges of the ineffectiveness of traditional lottery system. The decentralized network has allowed global players to seamlessly participate in lottery activities to earn substantial profits minus the worry of any frauds or scams.
The ICO period for Donocole Network starts from October 8th ~ January 31st.
The PreSale event includes the following benefits: