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Stellar-Based DeFi Lumenswap Starts Second Lottery Round: First 50,000 Tickets Sold in 48 Hours

Mon, 12/27/2021 - 13:40
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Vladislav Sopov
Here’s how Stellar enthusiasts can win luxurious electric vehicle Polestar2: tickets starts from 1 LSP
Stellar-Based DeFi Lumenswap Starts Second Lottery Round: First 50,000 Tickets Sold in 48 Hours
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LumenSwap, one of the first decentralized finance protocols on the top of the Stellar (XLM) blockchain, yet again launches its unusual on-chain lottery for LSP holders.

Second round of Lumenswap’s lottery started

According to the official introductory post shared by Lumenswap’s team on its blog, on Dec. 24, 2021, the second round of its lottery started. The lottery will take place between blocks 38859006 Ledger and 39318422 Ledger on the Stellar (XLM) blockchain.

In this round, Lumenswap’s clients can win Polestar 2, a top-notch electric SUV car. The prize pool will include the XLM equivalent of $67,000, the current price of Polestar 2.

Each ticket costs 1 LSP or $0.071 by press time. The winner will be determined on block 39318423.

To buy lottery tickets, users should send LSP tokens to a special address on the Stellar blockchain. The “Buy Ticket” window is implemented to ensure seamless one-click token purchases for every Stellar-based account. LSP tokens should only be sent to the address GAB7STHVD5BDH3EEYXPI3OM7PCS4V443PYB5FNT6CFGJVPDLMKDM24WK.

The transaction hash of the “Buy LSP” transaction serves as a lottery ticket ID to unlock the opportunity to buy multiple tickets and increase the chances to win the lottery. At the same time, the DDoS protection service limits the number of requests to 3,600 tokens per hour from one IP address.

First 50,000 tickets sold in two days

As in Round One that took place in October, the winner will be determined according to a unique on-chain mechanism.

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It will compare ticket hashes to the ledger hash to find the longest matching substring. The exact ledger/block number on Stellar will be determined by the team of Lumenswap about 30 days from the start of the round.

Should the two hashes have similar matching substrings, the ticket with the earliest timestamp will be chosen.

The global community of Stellar (XLM) enthusiasts demonstrates notable interest in the lottery as the first 50,000 were sold 48 hours after the start of the game.

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Lumenswap is a noncustodial DeFi protocol on Stellar powered by native LSP token.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)