Reviving Hive Lottery - A Fun Game For Everyone

Greeting Hiverians

Most of you may remember, Hive Lottery launched its game in 2021. The game was just a spin the wheel lottery where the user could participate in the game by sending 0.1 Hive. It was a good idea, but later we ran into some problems and realized that it was difficult to maintain the game with Hive, so we closed it. Information about our older game is available in our older articles, which can be read by clicking here.

But now we are reviving our game with a unique idea and brilliant planning. The new gaming model is completely different from the old model, and we are now implementing it after all the math and research. The game will remain the same, but this time we're moving its currency from the hive to a hive engine token called "SPIN".

How Does The Hive Lottery Will Work:

Hive Lottery is a simple spin the wheel game for all Hiverians and will be played in our Discord Server with the help of Spin The Wheel Bot. In our old game, we introduced the game with liquid hives as a reward. Where any user was able to participate in the game by sending 0.1 hive to @hive-lottery, and we were spinning a wheel with the names of all the participants and the winner won the prize in the hive. It was a nice idea, but it wasn't enough to sustain the game. Now after two and half months of planning we came up with a new idea and now this is how the game works.

Yesterday, we created SPIN Tokens on Hive-Engine/Tribaldex for our game. SPIN tokens are becoming the official currency of the Hive lottery game. Tokens will be used to participate in the game, and winning prizes will be provided in SPIN Tokens. We started selling our tokens at 0.1 hive, which was the same price as the initial game, but we are adding some new rules to the game to maintain the atmosphere of the game.

The wheel will use 1 token per player for each game, but participants need to deposit 10 SPIN tokens by sending @spin-burn to participate in the game. Once we receive the tokens, we will add the user's name to our database along with all the information about the user and their token. We'll add the username to the wheel, and gameplay will be hosted in the #spin-the-wheel channel on our Discord server. A participant will play one game a day and is adjustable as per the player's decision. The deposit of 10 tokens will save both of us transactions and time. This will also help us keep the game up and running. Don't worry, all tokens can be withdrawn at any time :)

We will update the data accordingly, such as who wins and who loses additional tokens. The gameplay is public and anyone can watch it in the #spin-the-wheel channel and if anyone wants to ask about their token amount they can send us a text in #check-and-balance in our discord or can use the Google sheet which we will share in our server.

The Gameplay:

We will add the participant's name and the bot will randomly select the winner. Anyone can see the winner in the channel. We will update the data according to the winners and losers. Tokens will remain as written in the Google Sheet until the user asks for a withdrawal, otherwise these tokens will be used to participate in other games. Sometimes due to busy schedule the withdrawal can take up to 48 hours as we are handling it manually, but most of the time you will get your token immediately when we are online.

Rules Of The Game:

• The participant has to deposit 10 SPIN tokens to play the game by sending them to @spin-burn.
• Every user will play one to three games a day (Optional).
• The winner will be selected by the bot "SPIN THE WHEEL".
• Each game will be played between 5 users or 10 users.
• All the rewards will be paid in SPIN tokens.

How We Will Maintain SPIN Tokens:

This is the most important part of the game, and we know very well that the Hive Engine market is not a stable market and the token price fluctuates a lot, so here our brilliant plan will work. If you visit the SPIN token market, you will find that the maximum supply of SPIN tokens is only 10 million and 100k tokens are available for sale at 0.1 Hive price. Actually, this is part of our gaming model, and it will work like this.

We will sell 100k SPIN tokens at a price of 0.1 Hive and once the buyer starts buying tokens, we will set an equal amount to buy back those tokens with a 5% lower price. Suppose we sold 10k tokens at a price of 0.1 hive, we will immediately place a buyback order of 10k tokens at 0.095 hive. This means we will buy back the token ourselves with 5% less amount, which will help us maintain the token at the original price and the token holders or winners can sell it immediately.

Now let's talk about the token sale. Well, we have a brilliant plan to sell and maintain our tokens. We are initially selling our first 100k tokens at a price of 0.1 hive, but the next batch of tokens will not be sold at the same price. Once that 100k token is sold, the next batch of 100k tokens will be available for sale at 0.11 hive and thus all subsequent token batches will be available for sale in the market with a 10% higher price. Which will bring our tokens to the market at a height of one hive per token. Here is an example of it.

• 1st 100k tokens at 0.1 Hive
• 2nd 100k tokens at 0.11 Hive
• 3rd 100k tokens at 0.12 Hive
• and so on...

Now, @spin-burn will buy back all tokens with a reduced price of 5% to keep the tokens at a good price. Let's say we are selling our first 100k tokens on the market at 0.1 hive and on the first day we have sold 10k tokens, then @spin-burn will place an order to buy back those 10k tokens at a price of 0.095 hive. For the first 100k tokens, we will immediately buy back the tokens and the process will be the same as for the first 100k tokens. Then, when our next batch of tokens is released at 0.11 hive, we don't buy them back immediately and the old buyback order will remain at 0.095 hive until the other 100k is sold. Once the next 100k tokens are sold, we will place another buyback order at 0.1045 hive. This will increase the volume of our tokens, and we will be able to hold tokens at a higher price. The process will be repeated with the same strategy.

All tokens purchased by @spin-burn will be sent to @null every 24 hours. These tokens will not be resold in the market.

When The Game Will Start?

If you are reading this post, it means the game has already started. The game will not wait for users if there is only one participant, he will be able to play the game. A single wheel will run between five or ten users. If there are fewer users, Hive-Lottery will use its name as a participant in the game. If the Participant wins the game, we will add the prizes to his wallet as in a normal game.

Delegate Your Hive Power, Earn 125% Return:

Delegate your hive power to @hive-lottery to earn 100% to 125% curation rewards in return. We have planned a 125% return to our delegates in the form of SPIN Tokens, for every 1000 Hive Power you will earn an equivalent amount of 0.125 hive in shape of SPIN Tokens daily (rewards are liquid but delivered weekly). The first batch of 100k SPIN token is available at a sale price of 0.1 hive, so you will get 1.25 token a day for every 1000 Hp. The token amount will change with the value of our token.

A detailed post about the Delegation Rewards System will also be published soon.

EDITED: Token Deposits and Daily Gameplay.

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