🧙♂️Magic Internet Lotto Whitepaper
Magic Internet Lotto - A transparent lottery meme-coin with utility; 1B total supply with LP locked and burnt. A weekly lottery draw is held every Thursday!
Lottery Pool: 100M tokens are set aside for holders involved in Magic Internet Lotto for the weekly lottery.
Tier System: Each week, 1M tokens are allocated among five tiers of holders based on their weekly ranking.
T1 (Top 100): This tier comprises the top 100 holders of the token. They receive 70% of the token pool.
T2 (101-200): The next 100 holders after the top 100 fall into this tier. They receive 15% of the token pool.
T3 (201-300): The holders ranked 201st to 300th are included in this tier, receiving 10% of the token pool.
T4 (301-400): This tier consists of holders ranked 301st to 400th, who receive 3% of the token pool.
T5 (401-500): The bottom tier includes holders ranked 401st to 500th, who receive 2% of the token pool.
Lottery System: Within each tier, one winner is selected to receive the distributed tokens. These winners would be chosen and shared publicly on twitter, ensuring fairness and excitement among token holders and new investors.
Overall, this system incentivizes holders to maintain their positions or climb up the rankings, as higher-ranking holders receive a larger share of the token pool. Additionally, the lottery aspect adds an element of chance and excitement, making the token more engaging for its community.
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