Lucky8 (888)

Lucky8 is a groundbreaking on-chain lottery platform that utilizes a tax-based model and verified on-chain randomness. It operates using its native protocol token, Lucky8 ($888), which plays a crucial role in enabling users to mint lottery tickets, thus allowing participation in the lottery. The structure of the lottery involves defined epochs, with each lasting 24 hours, culminating in a lottery draw at the end of each epoch. This innovative approach aims to democratize the lottery experience, benefiting not only winners but all token holders through unique economic dynamics.

The utility of the $888 token extends beyond just lottery participation; it is central to the governance of the Lucky8 ecosystem. By bonding $888, participants can make governance decisions, ensuring the platform remains decentralized and community-driven. Furthermore, holders of $888 tokens receive a bonding yield, incentivizing users to remain bonded over longer periods. This dual functionality of the token helps foster a tightly-knit community while providing a fair and engaging lottery experience.

Tokenomics for Lucky8 include a strategically allocated tax revenue system, with 40% focused on the lottery prize pot, ensuring significant rewards for winners. The remaining tax revenues enhance protocol liquidity and benefit bonders through native yield. This careful distribution of resources is designed to create sustainable economic flywheels within the platform, promoting organic growth and long-term viability. Participants are encouraged to actively engage with the lottery by minting tickets and bonding their tokens to maximize their chances in each draw and strengthen their voice in governance.