Tickets
The ticket serves as a crucial link connecting buyers, sellers, NFT prizes, and $KNTT tokens.
Purchase: Buyers can use $KNTT or $BTC (depending on the payment currency set by the seller) to buy tickets. The number of tickets purchased can determine the buyer's chances of winning in the lottery: holding more tickets implies a higher probability of winning in the draw.
Value: The price of the tickets is set by the seller, and is usually determined based on the value of the NFT prizes offered. For instance, NFT prizes of higher value may have a higher ticket price set.
Raffle eligibility: Holding a ticket is a necessary condition for buyers to participate in the lottery event. Without a ticket, buyers will be unable to join the draw.
Burn: If the seller chooses $KNTT as the payment currency for the tickets, at the end of the lottery, the system will burn 1% of the $KNTT quantity based on the total tickets. This can help maintain the value of $KNTT.
Last updated