Anti-Whale and Transparency Lottery System Integration

Introduction

LitBit is dedicated to providing project creators with the tools to demonstrate their honesty and transparency in the development of their products. To this end, we have developed the Anti-Whale and Transparency Lottery System Integration. This system provides a sign of honesty and transparency to investors and helps to ensure that everyone has an equal chance of participating in token sales.

How it works

The transparency system works by implementing collected wallets and using our prebuilt VRF (Verifiable Random Function) and RNG (Random Number Generator) to choose the winners. Once the winners have been chosen, they will automatically be whitelisted for the presale without the possibility of adding any new whitelist wallets to the list. This ensures that everything is completely transparent, as all information is available to view in the smart contract.

Additional chances

To provide higher chances to some wallets, there will be the possibility to implement additional LitPowers. For example, wallets that have won a competition or completed tasks will be given extra chances to participate in the token sale. This is just one of the many ways that LitBit is working to ensure that everyone has a fair chance to participate in token sales.

Using the system

To use the Anti-Whale and Transparency Lottery System Integration, project creators will need to first collect wallets from interested investors. Once this has been done, the VRF and RNG will be used to choose the winners and whitelist them for the presale. The smart contract will also be available for all investors to view, ensuring total transparency.

In summary, LitBit's Anti-Whale and Transparency Lottery System Integration is a utility designed to increase transparency and fairness in token sales. By using our pre-built VRF and RNG, project creators can ensure that everyone has an equal chance of participating in their token sale. Additionally, the smart contract will be available for all investors to view, ensuring total transparency.