Raffle

This Raffle system provides a practical scenario where users can utilize the BRC-20 protocol-based token - $KNTT. Through this system, $KNTT holders can participate in various lottery events and have a chance to win NFT prizes. This system seamlessly combines the utility of BRC-20 tokens with the fun of NFT lotteries. Simultaneously, this system offers a liquidity solution for 'Ordinals NFT'. Sellers can list their NFTs as prizes on the system, and buyers can participate in the lottery events by purchasing tickets, standing a chance to win these NFTs. This not only enhances Ordinals' liquidity but also provides a new way for NFT holders to realize the value of their assets. The primary roles in the system include: NFT sellers, buyers, and regulators (BITCOIN KNIGHT). Sellers submit their NFTs as prizes in the system and set the price of tickets. They can choose $KNTT or $BTC as the payment currency for the tickets. Buyers participate in the lottery by purchasing tickets, and if $KNTT is chosen as the payment currency, at the end of the lottery, the system will burn 1% of the $KNTT quantity based on the total tickets to maintain $KNTT's value. The regulator is responsible for auditing all transactions and outcomes, ensuring the fairness and transparency of the system. It offers a triple-win solution, benefiting sellers, buyers, and regulators:

sellers	Sellers can quickly gain liquidity by selling NFTs on the platform. More importantly, as buyers are all eager to make a big win from a small investment, sellers have the opportunity to earn returns exceeding the floor price of the NFT.
buyers	Buyers can win high-value NFT prizes through a relatively small investment, enabling them to capitalize on the opportunity of making a big win from a small bet. This not only gives participants a chance to acquire high-value NFTs that they might not be able to afford otherwise but also provides them with a form of entertainment and the potential for high returns.
regulators	Regulators earn revenue by collecting fees from users. This is a vital income source for the project team to operate and maintain the system, ensuring its fairness and transparency.