# Jack's Raffle

Utilizing Bitcoin block hashes for weekly draws, it offers a tiered reward structure where holders can win parts of a dynamically scaled prize fund. Features include multiple holder tiers, a cumulative jackpot for all participants, and a rollover mechanism to increase future rewards. 

<figure><img src="/files/sVxR6HvOsHucBHXYcg5x" alt=""><figcaption></figcaption></figure>

#### **Frequency of Draws**

Draws will occur once every 1,008 Bitcoin blocks (approximately one week), randomly selecting the winning tier, with each tier having a fair and equal chance to win.

### Holder Tier Structure

| Tier          | Staked Amount ($JACK) | Share of Prize Fund |
| ------------- | --------------------- | ------------------- |
| Holder Tier 1 | 150,050+              | 100%                |
| Holder Tier 2 | 75,050-150,000        | 80%                 |
| Holder Tier 3 | 25,050-75,000         | 40%                 |
| Holder Tier 4 | 5,050-25,000          | 20%                 |
| Holder Tier 5 | 2,500-5,000           | 10%                 |

<figure><img src="/files/QMOsmVJazU7DotRP3UfM" alt=""><figcaption></figcaption></figure>

### Winner Selection

Each draw will randomly select one tier, and the prize fund designated for that tier will be distributed proportionally among the holders within that tier.

#### Proportion Sample

| Particpants (Same Tier) | Staked Amount ($JACK) | Proportion % of Prize |
| ----------------------- | --------------------- | --------------------- |
| Holder 1                | 25,000                | 6.6%                  |
| Holder 2                | 50,000                | 13.3%                 |
| Holder 3                | 100,000               | 26.6%                 |
| Holder 4                | 200,000               | 53.3                  |

**Minimum Withdrawal:** $50

### Rollover and Jackpot

The remaining prize money will roll over to the next draw, increasing the prize fund.

A separate jackpot fund will add 50% of the rolled-over amount.

During each draw, all participating holders across tiers will also have a chance to win the jackpot, which will be awarded to a single lucky winner.

{% hint style="info" %}
The delivery and final form of the above functionalities will be subject to and performed in accordance with the ongoing regulatory, compliance, and legal assessment.
{% endhint %}


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