BigWin Whitepaper
1. BigWin Protocol Concept
a) Protocol Principles
1. No Loss
Traditional prie draws require all participants to pay in exchange for drawing qualifications. If they do not win the prize draw, all assets will be lost. This kind of prize draw has such huge costs. BigWin’s no-loss prize games are pools of funds whose accrued interest is distributed as prizes. Every fund goes to a third-party decentralized finance(DeFi) platform on-chain. All prize games have the ability to withdraw at any time. In a word, users will not take any risk of losing their own principals, and the only thing to pay is your time to participate in the prize draw. Truly no loss.
2. Playable
BigWin provides a variety of fun and interesting games : no-loss lotteries, contests, giveaways, raffles . Anyone can build up a game and have fun with friends、 family or other people who would like to join. In the future, BigWin satisfies even the most demanding tastes with its customizable design mechanism, trustless on-chain Random Number Generator and many types of games. Not only for individuals, as project holders and operators from the community can start a platform with entertainment.
3. Security
Security of assets is the foundation of any gameplay, and BigWin adopts smart contracts as the only way to manage assets. The digital assets that used to participate in the prize draw are recorded in the smart contract. The ownership of digital assets in the smart contract always belongs to the user and cannot be changed. Only the users can transfer their assets. In any case, users can retrieve their own funds at any time, ensuring their control over their own assets.
4. Fairness
Fairness is crucial to a prize drawing game.
First, the bonus of BigWin comes from the interest generated by users’ assets, so the user’s probability of winning is directly proportional to users’ staked assets. All prize games created by the protocol use a fair prize distribution according to a prize strategy which is transparent and open to everyone.
In addition, interest grows over time, so it is also necessary to measure how long users retain assets. All the withdrawal fees are used as a bonus. With this mechanism, we can effectively prevent profiteering like depositing a large amount of funds before the draw to increase the winning rate and immediately withdrawing them once the draw is over.
5.Multiple Cross-Chain
Cross-chain is a technology that allows for interoperability and scalability. By offering a platform that lets various blockchains interact with one another, cross-chain allows us to break barriers.BigWin allows BWIN token to be applied to use on different platforms, users can enjoy more convenience, lower gas fee from most of the popular smart chains.
b) BigWin Vision
BigWin turns saving money into a game that gives a potentially huge upside and minimal downside.
Helps people make the most out of crypto in three ways: Save, Earn and Win.
Helps developers to bring prized linked savings game and introduce an entirely new, open-source, permissionless, and transparent financial service ecosystem to their users.
2. Product Description
a) Protocol
BigWin consists of a series of decentralized protocols running on the
blockchain.
1. Prize Pool Protocol
This protocol supports the community to create prize pools, set prize distribution strategies, set prize sources (interest generated by depositing funds on a third-party decentralized platform is used as bonus), set the draw cycle, loot boxes, etc. All prize pools created by this protocol have the same key characteristics as follows:
• No loss of principal deposited.
• Exit and withdraw deposits at any time.
• Distribute prizes according to prize strategy.
2. BWIN Token Issuance Protocol
To encourage users to participate in the prize draw, BWIN tokens will be issued according to the issuance rate and decay rate specified by the economic model. For detailed economic model, please refer to the chapter “Economic Model”.
3. DAO Community Governance Protocol
As a decentralized community project, the management of the project is owned by community users, and the DAO community governance protocol was developed for this purpose.
b) How to Play
1. The Official and community set up prize pools.
2. Users save their digital assets into the prize pool. Different assets have different prize pools, such as BNB，USDT, DAI, BTC, etc.
3. The prize pool contract automatically deposits assets to a third-party. decentralized platform to earn interest and accumulate prize money.
4. After the draw time is up, the winners are selected through a random algorithm.
5. After the last prize pool is drawn, the next deposit will start immediately, and the user with his assets and prize money will automatically participate in the next draw.
6. Users can withdraw their assets at any time under Withdraw regulations hereby.
7. As long as you deposit to participate in the prize draw, you can get BWIN token rewards.
8. BWIN token can be used to stake in pools to earn free tokens and join other activities held by the community hereby.
c) Random Number Generation Mechanism
Random numbers are very important for prize drawing games. The random number of BigWin is obtained by summing the user transaction hash, the lottery block hash, and the administrator’s random number.
User transaction hash: Refers to the hash value of the lottery transaction initiated by the user.
Administrator’s random number: Only contract administrators can use this method to pass in random numbers.
Draw block hash: Refers to the block hash of the packaged lucky draw transaction. The generation of BigWin random numbers is jointly controlled by users, nodes, and administrators, who are indispensable to each other, effectively preventing any party from doing evil actions to this
3. BWIN Economic Model
The token name issued by BigWin is “BWIN”.
Total issuance : 10 million.
First Allocated to BSC chain. Reserved for other possible public chains according to development of community
Among them, the distribution ratio of BSC is as follows:
Total issuance: 10 million.
Team holding: 15%, released linearly in 4 years.
Marketing: 15%, promotion of product in market
Genesis Incentive: 5%, incentive to pioneers and contributors of persons in community
Mining: 50%, 0.05 block per second, decreases by every 6 months, and the release is expected to complete in four years.
Treasury: 15%, build up an alignments ecosystem of developers and future partners
4. Ecological Development
Lottery users, that is, donors, are the most vital role in the ecology. As more users participate in the lottery, the higher the prize money will be, which will attract more users to participate in the lottery, and further increase the prizes. This is a positive cycle.
Any organization usually has their own token. BigWin is firstly a no loss lottery platform. Any organization can add usage scenarios for their tokens through the function of “stake BWIN to create a prize pool with one click. At the same time,
BigWin can also provide a very good airdrop platform. Any organization can recharge tokens to the “Loot Box” of a certain period of prize pool, and users can get the tokens of the organization by BWIN. Partnership concludes contribution to New DEX or lending platforms
5. Disclaimer
There may be omissions in the information in this whitepaper, but it does not mean that the whitepaper is not reliable. The final interpretation right belongs to BigWin. BWIN token is not a security, bond, commodity, or any other type of financial instrument.
BWIN Token is not registered under the guarantee laws of any country, including the securities laws of any jurisdiction. BigWin will not make any guarantees or promises to anyone under any circumstances and will not guarantee the integrity of the information in the whitepaper. This whitepaper does not serve as the guidance on investment, law, taxation, or accounting. BigWin is not sure of the potential benefits of such transactions, please bear the consequences yourself. Upon receiving the BWIN token, it means that the holder of the BWIN token has read this whitepaper and accepts the relevant terms of this whitepaper.
