Introducing Argonauts Lottery
It’s been awhile since we’ve posted a medium article. And this time, we’re here to kickstart what will be the first of many steps into the world of Argonauts. The Argonauts Lottery
I suggest to read to the end, this is not the end, but only the beginning.
Why is this significant?
This officially kickstarts the multi-phase roadmap that the Argo team has planned out for Argo and Argonauts, which would be executed across multiple sprints planned from Q3 ’22 to Q2' 23 🔥
In every part of this journey, new utilities for Argonauts will gradually surface. If you have followed us from the start, you will know that the team never reveals all our cards at once 😉 What we will say is that Argo and the Argonauts will be more than what the protocol has originally started out as.
Now back to the Lottery launch.
At the end of the day, everybody loves winning. Some like winning small, others prefer to quash the competition and take home the prize.
Today we bring you the latter 😏 (just kidding, you can win small too). Best news? Argonauts ONLY
Yes ser, Argonauts only.
Why do you ask, that we limit this game of chance purely to the Argonauts? Fair question:
- The initial pool is bootstrapped by us, for the Argonauts. We’re committing an initial prize pot of 1,000,000 xARGO into the pool
2. The inflow into the pool will be from lottery ticket sales and a portion of secondaries that comes from the Argonauts, for the Argonauts
3. The remaining xARGO from each round will continue to roll towards the next batch of winners, increasing the expected winnings, for the Argonauts
4. The prize pool will always be, for the Argonauts
We have aimed to design this unique experience, exclusively for the Argonauts.
Discounts for more Argonauts you hold
Who doesn’t love discounts? 🔥
Holders of multiple Argonauts get access to discounted tickets, tiered to how many you own. More tickets, higher odds. At the end of the day, it all goes back into the pool to be won.
Again, once the details are out, the math can start to be worked out. Every single game is one of game theory and probability.
Argo Lottery Overview
So you might be curious as to how it works and the chances of winning — this is a simple game of Match 6. Buy a ticket, get 6 numbers, if they match up, you win. Of course, that’s the ultimate prize, and there will be lower tiers if you match fewer numbers.
Now of course it’s not as simple as that, there’s more to it, having 6 consecutive matches is extremely difficult (thus also more rewarding 💰), there’ll be tiers to the prize pools.
We’ll be sharing more details in a proper and dedicated medium post, including all parameters, costs, flows and so on. Await that! The more nerdy of you would probably start conjuring some basic stats to see what’s the optimal path forward 😅
Concluding (not really) Thoughts
We’re continuing to pivot and find better Product Market Fit for the Argonauts and Argo Finance products as we move along. The Lottery is a great way to win, but it is only the first step in our masterplan.
In our current iteration, the team is currently working on 2 major sprints for the Argonauts expansion, with many other brilliant ideas in the ideation phase — but that’ll be saved for another day. Can’t wait to have it all executed in full.
You’ll hear from us over time, smooth sailing Argonauts 💌