I wanted to do a quick temperature check on the perpetual raffles idea. If there’s enough interest, then I will continue to pursue it. Here is what I am considering:
Launch a pilot raffle with an initial pot of 3000 GHST worth of assets. The first buy would be humble parcels with a current floor of 60 GHST. Ideally, we capture about 50 parcels to raffle.
The premise is this:
Purchase the prizes at floor and sub-floor pricing over a short period of time. The buyer would be scouting for great bargains in the bazaar and buy when the opportunity strikes.
Lock those prizes into the raffle wallet.
Players then purchase 1 Ghst tickets which are entered immediately (no secondary market).
As soon as the raffle pot hits 150% of the total buy price, anyone can trigger the raffle. The vrf is queued and viola, the winners receive their claim tickets to get their prizes.
The raffle buyer then receives the funds from the raffle to buy again.
Rinse and repeat.
There are a few advantages as well as some concerns I have that I wanted to lay out and see where the community stands.
These all assume a successful operation
The raffle mechanism would serve as a soft-backstop for floor prices. And the more utilised the raffle, the stronger this would be.
Smol players could grab a valuable asset for as little as 1 Ghst. This was the original intention behind this idea.
There would be a consistently hungry buyer willing to buy assets at a deep discount for anyone needing immediate liquidity ( I also have some ideas on how to make this part even juicer for the community. )
Items would, in my mind, go to people who actually want to win something.
The 150% of the buy price ensures the pot never goes into a loss while also keeping the odds of winning consistent for entrants. This number also allows for scaling to a point there could potentially be concurrent raffles, bigger prizes, larger prize pools, or even mixed bag raffles with smol prizes and one grand prize like a mythical or even godlike.
A relatively small raffle let’s us pilot the program.
A perpetual raffle, especially if heavily utilised, would serve as a consistent form of entertainment for the community.
My major concern with this idea is the potential lack of players.
The frens raffles are so successful because the tickets for many are essentially free. With enough Ghst or tickets, you can set yourself up for a nearly-guaranteed win.
This raffle is inherently different in the sense that it is run purely on Ghst. That means it functions more like a true raffle/lottery and you will never be able to guarantee a profitable experience.
So my major concern is there wouldn’t be enough apes to play. This is why I created this thread and poll. I want to see how many people would play and what they would ape with.
I am not sure if the big bags would play for humble parcels rewards. Perhaps then the better prize pool is something the whole community would be interested in, such as portals. I will leave you with a few different polls. Please vote and share your thoughts as well.
There are some other technical concerns which need to be navigated, but for now I’m mostly seeking to gauge overall interest in playing to determine if this is worth pursuing.
Would you play in the raffle?
- Yes, always regardless of which prizes
- Yes, but it depends on which prizes I can win
- Unlikely or rarely
- No I wouldn’t play
How much would you ape?
- 1-5 ghst
- 6-15 ghst
- 16-30 ghst
- 31+ ghst