FAQ

Whitepaper   |   Roadmap   |   Tokenomics (coming soon)

The charities featured on the SolLotto platform are manually reviewed and verified by the SolLotto team. Given the lack of transparency in the traditional monetary system, we must rely on the independent investigations of third-party organizations at this point in time. In our initial qualification system, we currently look for a number of factors including:
  • -The ranking of the charity on charitywatch.org
  • -The ranking of the charity on charitynavigator.org
  • -GiveWell reports involving the charities effectiveness
We accept recommendations for charities to include for consideration by the SolLotto team from any member of the SolLotto community. After receiving a recommendation a SolLotto team member will manually verify the information provided before the charity is scheduled for inclusion on the SolLotto platform.
We require any charity featured on our platform or through our protocols to be registered and approved by at least one of the three organizations listed above. In order to meet our minimum quality requirements they must have achieved one of the following:
  • -A Grade “A-” or better from charitywatch.org
  • -A score of at least 90 by charitynavigator.org
  • -Listed in GiveWell’s top charities
Participants in the SolLotto Pick 6 lottery choose a charity they would like to cast a vote for with every ticket transaction. Participants have the option of choosing between four pre-vetted charities in every drawing. The charity with the most votes at the end of the drawing receives the charity-share of the prize pool.
The four charities available to be selected in the Traditional Pick 6 Lottery's drawing will be chosen by a community vote. Community members will have a voting share proportional to the amount of SPL tokens they have staked in the No-Loss Lottery model.
Effective altruism advocates the use of evidence and reasoning to determine how we can use our resources in the most efficient ways to benefit others.
We believe a system where everyone who has a stake in the game has a vote proportional to that stake is the most effective and fair way of reaching a decision. Participants with a greater stake are incentivized to become better informed as well as steward that information to the greater community. We plan to put in place a democracatic approach based on the stake of the donation will allow the community to best allocate the funds to the most effective cause.
A game-like system such as the lottery provides some unique characteristics compared to adding a donation on to another service. A true lottery is fundamentally different from a required charitable contribution, a volunteered charitable contribution, and a winner-takes-all raffle system.