SolLotto is the first decentralized peer-to-peer lottery system built on the Solana blockchain.
We believe a community-driven approach to effective altruism will result in the most impact globally, which is why we're introducing a lottery system that utilizes verifiable community-consensus to dynamically allocate the resources where the community believes they will do the most good each week.
Buy a ticket, vote on the charity, and hope your SolLotto ticket takes you to the moon!
The ongoing development of the SolLotto platform is managed by Effective Altruism Lab LLC.
We don't make the decision on the charity cause chosen for each drawing. You do. Every SolLotto ticket comes with a vote that helps determine which of our pre-vetted charities deserve the charity portion of the SOL pool.
Get something even if you don't win it big! We'll be taking note of the wallet addresses that consistently take part in the Sol lottery in order to thank our community with limited-edition (and hopefully collectable) NFT swag.
Solana's blockchain technology allows for complete transparency in our lottery protocols. Verify the pool is going to the right winner and charities are getting their fair share at any time, no third-party trust required.
Sollotto is developing a number of pooled giveaway protocols that we plan to deploy through our web app at sollotto.io as well as through direct integrations with select partner platforms.
Sollotto will introduce these pooled giveaway models individually over time as the prize pool from the Foundation Rewards Staking Pool grows. We plan on holding two drawings each week on Wednesday and Sunday at 12am GMT utilizing a tamper-proof random number generator.
In general the proposed payout schedule for all pools is as follows; 65% of the total prize pool is reserved for the “Winner’s Pool”, 30% is reserved for the “Charity Pool”, 4% is reserved for the Effective Altruism Foundation Rewards Pool, 0.6% is reserved for SLOT token holders, and 0.4% is reserved by Effective Altruism Lab LLC for use in maintaining and developing the platform. The payout schedule will remain variable until the most effective allocation is determined.
Eventually governance of the payout schedule as well as various other platform features will be transitioned into a community-decided model.
A key element in effective altruism is properly allocating resources when and where they are needed the most. We believe our community voting system will result in a fairer and more efficient system than any that currently exist in widely available pooled giveaways like the traditional lottery. This presents a challenge and governance decision in terms of what charities are considered to be legitimate and worthy of inclusion on the Sollotto platform.
To solve this issue, initially we will be relying on third-party organizations who specifically verify and rank the effectiveness of charities. Over time we plan to develop our own systems of determining the effectiveness of past charitable donations in order to greatly expand the number of charities eligible for inclusion.
The SolLotto platform and automated drawings are a community-owned open-source technology managed and developed by the Effective Altruism Lab LLC. SolLotto is currently being built and developed by the Effective Altruism Lab LLC for research purposes only. When our technology has matured Effective Altruism Lab LLC will transfer governance and decision making for the SolLotto platform and the Effective Altruism Foundation to the SolLotto community.
While we utilize the terminology lottery and tickets to describe our peer-to-peer raffles, pooled giveaways, and pooled charity donations, we are not a privately owned lottery and do not intend to transition the SolLotto platform into one. SolLotto only accepts utility tokens not classified as securities. We do not accept any fiat currency. All ticket purchases should be considered a donation to charities with no possibility of monetary returns.
This donation has no value for tax purposes. The end user is responsible for following all local laws & regulations that may apply in the jurisdiction in which they reside and access SolLotto services. If you are unsure whether SolLotto is permitted in your local jurisdiction, please seek the advice or your attorney or professional legal counsel.