I have a question:
Let's say u guys get the 6125 BTC through the crowdsale, u will put half of it into the jackpot. Let's assume somebody wins that Jackpot 2 weeks later. While this is very unlikely, it could happen. What happens then? Ur gonna have another crowdsale?
We envisaged such a situation. Therefore, we are making 2 Jackpots. More details in the White Paper:
https://trueflip.io/TrueFlip%20Whitepaper(01.06).pdf"
Why do we still need to sell Tokens?
Here are the main issues:
1. Jackpot. A lottery is interesting only if there is a BIG Jackpot. For a powerful launch we are planning to raise 1`960 BTC for Jackpot via Token Sale campaign. This value is achieved by multiplying: 40% * Total- SaleGoal * 80%, where 40% - is a share of funds assigned for Jackpot, TotalSaleGoal amount of money raised during the Token Sale and 80% - is the rst part of the Jackpot. The Jackpot will be secured on cold wallets with use of multisignature escrow involving three community stakeholders, while the development team wont have any access to this money. So when someone lucky wins the Jackpot, it will be transferred manually.
2. Second Jackpot. We understand that the probability of winning the Jackpot is 1:49`504`950. But the risk still exists, and we must ensure that we do everything we can to maximize the pro tability of our inves- tors. Therefore, we will have a second Jackpot, the size of 490 BTC, which corresponds to 20% of the funds assigned for the Jackpot. The calculation is as follows: 40% * TotalSaleGoal * 20%. It will also be stored on a cold wallet and use multisignature escrow involving three community stakeholders, but will only be used if the rst Jackpot is won. Thus, we minimize the risk of losing interest to our lottery if during one of the rst drawings the Jackpot will be won.
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Best regards,
Trueflip.io