DISCLAIMER: I am not the founder / owner of the Lucky8 XRD project. You can find all the official information on their website (https://lucky8xrd.com/)
What is Lucky8?
- Lucky8 is a win-win lossless lottery on the Radix network. Stake a minimum of 1000 Radix (XRD) into their validator node and you are automatically eligible for the monthly drawings.
How much can I win?
There are 2 types of lotteries.
- First, there are the monthly lotteries. Each month, a minimum jackpot of 20,000 XRD is split amongst 3 winners equally.
- Second, there is a yearly lottery. In that case, one lucky winner will win a minimum jackpot of 120,000 XRD.
How can I participate in these lotteries?
- For the monthly lotteries, all you need to do is stake a minimum of 1000 XRD. The drawings happen on the last day of each month. In order to be eligible, you need to stake 2 weeks before the actual drawing, and you also need to be staked until the end of the drawing.
- For the yearly lottery, your ticket to win is their own Token, the LUCK. If you stake with them, you will begin earning LUCK tokens which you can use as your tickets to the yearly lottery. The earlier you stake, the more LUCK token you will receive.
Is there anything else I can win?
- Yes, Lucky8 has quite a few partners (available on the website), who offer a wide range of NFTs.
Where is the prize money coming from, and what is the benefit for the Lucky8 Team?
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Lucky8 has a validator with a 100% fee. It basically means, that you won’t earn any reward on your XRD directly with staking with Lucky8. For example, you stake 100 XRD now, and you will receive 100 XRD half a year later if you decide to unstake.
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A part of the fees coming from the stakers are injected to the prize pool, and make it possible to have a huge prize pool.
This was a quick overview of the Lucky8 project. I recommend checking out their website, especially the FAQ section if you have further question. If something is not clear, feel free to ask here as well.