How Raffles Work
Last updated
Last updated
Smart Contract Assurance: Our raffles operate on Ethereum's smart contracts, ensuring absolute fairness and transparency throughout the entire process.
Immutable Transparency: Once deployed, the smart contracts are unchangeable (immutable) and transparent, guaranteeing the raffle's fairness and integrity, visible to all on the blockchain.
Ticket Creation: The smart contract's minting function generates unique NFT tickets for the raffle. Each ticket is one-of-a-kind and tamper-proof, securely maintained within the blockchain.
Equitable Allocation: The automated ticket minting ensures a level playing field. No bias or manipulation can influence ticket distribution.
Diamond Vault Key Holders: Diamond Vault Key holders receive ongoing benefits, gaining free entry tickets to all TheVaultDAO raffles as a lasting reward for holding a legendary NFT in their wallet.
Acquiring Tickets: To enter, acquire these NFT tickets directly through interaction with the smart contract. Their ownership is recorded transparently on the Ethereum blockchain. Instructions will be given through our community .
Transparent Ownership: The blockchain logs all ticket transactions, providing participants with verifiable proof of ownership.
Random Selection: Once all tickets are sold, the smart contract conducts an unbiased random selection to determine the winning ticket. This process is fully transparent and beyond any human intervention.
Automated Rewards: The smart contract autonomously delivers the prize (ETH) to the winning ticket holder's wallet address without any manual interference.
Ticket Removal: At the end of each raffle, all tickets (NFTs) are automatically removed from losing participants' wallets, concluding the current raffle round and preparing for future events.