It’s BACK! PancakeSwap Lottery V2 Kicks Off with a Massive $5M+ in CAKE Prizes

This post was originally published on Pancake swap

PancakeSwap users and CAKE holders alike, today we are super excited to introduce the PancakeSwap Lottery V2!

To kick things off, there’s a massive >$5 Million in prizes waiting to be injected over the first week of the new lottery!

Back on April 28th, the last CAKE injection to the lottery occurred and the lottery was paused shortly after to allow us to focus on V2 where we could reduce the cost of tickets and the gas used to buy them (both of which were insane at the time!).

Since then, 69 days have passed, and a massive 350,000 CAKE (which we’ve rounded up from 345,000) has been amassed in rewards from missed lottery injections. And all 350,000 of those tasty CAKE tokens are going straight into the lottery to kick things off with a bang!

What is the initial injection schedule?

Rather than smashing all of the CAKE in one round, we’ve set up a slightly more drawn-out schedule which will allow more people to have a chance at winning some potentially life-changing prizes.

biswap

To kick-off, there will be two smaller rounds in order for us to clean up any remaining UI bugs, etc that may be found with participation at scale. After that, there will be alternating $1M+ rounds (at the current CAKE price) until all the rewards have been injected.

Please note: the first public round will be #8. This is because we’ve been doing a few final internal testing in a live environment to make sure everything works smoothly.

Starting from Round #20, which begins at 6AM UTC on July 12th, the lottery will resume a regular injection schedule of 10,000 CAKE every 2 days.

Here’s an example of what that looks like:

What’s new with V2?

  • Cheaper ticket prices — $5 USD equivalent in CAKE per ticket
  • Bulk discounts — the more tickets you buy (max 100 each transaction), the cheaper they are!
  • You can pick your own numbers (if you want)
  • We’re now using ChainLink to generate the winning numbers — this makes the number generation more transparently randomized
  • Reduced gas fees — gas fees per ticket can now be almost 70% lower than V1

And oh yeah, there’s also more chance than ever to win!

The current prize breakdown looks like this:

But you guys said you wanted the tickets to be $1 each?

Yes, we did indeed, but after a ton of internal testing, it didn’t make sense to have a $1 ticket in comparison to the gas required to mint. To achieve the best possible balance we opted for $5 per ticket, which is fixed, so no more extra expensive tickets when the price of CAKE goes up.

On the plus side, the journey to achieve the lowest reasonable ticket price led to a nearly 70% reduction (that’s a lot) in gas fees when buying tickets in bulk!

How does it work?

Before you buy any tickets, please take a few minutes to understand how things work.

At the very least, make sure you understand the winning conditions:

The numbers on your tickets must match the winning numbers in the same order, starting from the first digit. So if your first digit doesn’t match and all the others do match, you won’t win anything.

Check out our step-by-step guide on how to play the PancakeSwap Lottery for more.

Lottery FAQ

Still got questions? Check out the FAQ here.

Good luck and have fun!

Hops 🐰🥞

Leave a Comment