David bought a raffle ticket with dreams of winning the grand prize. The draw was a whirlwind of anticipation, and when the winning number was called, his heart pounded, realising it was his. He had won! Sadly, for the other participants, his win meant they had lost. This is how it usually goes in a lottery — one star winner with many losers.
Now, imagine a lottery where everyone can win! As impossible as it sounds, that is what stands out in the QDX Raffle, a web3 game powered by the Quidax Token (QDX) on the BNB Smart Chain (BSC). From winning draw prizes to claiming referral bonuses, earning passive income, and grabbing NFTs (Non-fungible tokens), QDX Raffle offers many ways to earn.
Here are some things you need to know about this fun web3 game and how it works.
Key Takeaways
- The QDX Raffle is a web3 game played using upgradeable NFTs called Quidax Cards
- There are four NFT Card levels: Safari, Stellar, Aurora, and Zenith
- You can win grand prizes in the Cycle draws, receive passive income for holding premium cards, and grab bonuses for inviting friends
- The selection of Raffle winners is based on random numbers generated by Binance Oracle VRF (Verifiable Random Function), ensuring fairness and transparency
- A portion of the revenue generated in the cycles is used to buy back and burn QDX tokens, reducing supply and preventing inflation
What is the QDX Raffle?
QDX Raffle is a Web3 game on the BNB Smart Chain (BSC). It is one of the Decentralised Finance (DeFi) use cases of Quidax Token (QDX). To participate in the Raffle, you must be a QDX holder.
QDX is Quidax’s utility token, which allows you to easily access and use various features and products of the Quidax ecosystem while enjoying exclusive benefits. The QDX Raffle is one of these exclusive benefits.
This exciting game is a play-to-earn opportunity that combines fun and rewards. And don’t worry, it’s pretty simple to get the hang of it. You only need some basic Web3 knowledge.
How Does It Work?
1. Quidax Cards
The game is played using special NFT cards called Quidax cards. There are four different NFT card levels:
- Level 1: Quidax Safari
- Level 2: Quidax Stellar
- Level 3: Quidax Aurora
- Level 4: Quidax Zenith
Let’s see how the cards work briefly:
Quidax Safari
Safari is the base NFT card. You can mint (create) it using Binance Coin (BNB) whenever a QDX Raffle Cycle is open. Each Safari NFT you mint represents a ticket in the draw. If you are one of the lucky winners at the end of the Cycle, you must burn a Safari NFT to claim each winning ticket. You can also upgrade your Safari NFTs into Stellar when cycles are closed.
Quidax Stellar
Stellar is a premium NFT card you can obtain by upgrading 20 Safari NFT cards. Upgrading to Stellar means you start to earn passive income. After each cycle, you’ll receive a distribution from 20% of the Premium Reward Pool.
Quidax Aurora
Aurora is the third level in the Quidax NFT system. You will need 10 Stellar cards to upgrade to an Aurora card. With Aurora, you earn from 35% of the Premium Cards Reward Pool.
Quidax Zenith
Zenith is the rarest premium NFT card. You can mint a Zenith card by upgrading 5 Aurora cards. Your Zenith card gives you a bite out of the lion’s share. By reaching the Zenith, you will unlock passive income from 45% of the Premium Reward Pool after every cycle.
2. Cycles
QDX Raffle is played in Cycles. Before the Cycle begins, the game master will fill the Cycle’s rules into the smart contract.
When the game status is “Open,” you can mint Safari Cards to gain entry into the Cycle.
However, you can only mint up to 200 Safari Cards per Cycle. A cycle must have at least 20 entries and can have a maximum of 2000 entries. For every 20 entries, there will be 1-5 winning safari cards. This structure means that the total number of winning cards can range from 1 to 500, depending on the number of cards that entered the cycle.
3. How to Join
Anyone can participate in the QDX Raffle. Here’s what you need to join:
- A BSC wallet
- Binance Coin (BNB)
- QDX (you can buy it on Quidax, WEEX, MEXC or Pancakeswap)
First things first, you must hold QDX to participate in the QDX Raffle. Once that’s sorted, connect your BEP-20 wallet and ensure you have enough BNB to mint Safari and pay gas fees. If you don’t have BNB, you can easily buy BNB on Quidax.
Afterwards, stake some of your QDX in the Raffle Stake Manager. The Raffle Stake Manager is the smart contract that stores the QDX deposited by all the participants. However, you cannot withdraw your tokens while the cycle is open because your QDX remains staked until the cycle ends.After staking, you’re free to mint Safari and enter the Cycle.
In short, follow the steps below:
- Buy BNB and QDX on Quidax or other exchanges
- Send your BNB and QDX to your decentralised wallet
- Visit qdx.quidax.io/dapp on your dApp browser.
- Connect your wallet
- Lock the required amount of QDX
- Choose the amount of Safari you want to mint and approve the transaction
Here is a quick video guide to help:
4. Winner(s) Selection
Once the conditions for ending a Cycle have been met, the smart contract will send a request to the Binance Oracle VRF (Verifiable Random Function) Service. Binance Oracle VRF is a fair, secure, decentralised way to generate random numbers on the blockchain.
Upon request, the Oracle will generate a random number along with cryptographic proof that the number was generated correctly. The Oracle will then provide the number and proof showing how it was calculated for the Raffle smart contract.
After receiving the Oracle’s response, the smart contract will verify the proof to ensure the randomness of the generated number. Once the number is verified, the smart contract will use it to determine the winning card(s).
Since this proof is published on the blockchain, anyone can independently verify if the random numbers were generated correctly and not tampered with. This ensures that the winners’ selection is genuinely random and transparent.
5. Revenue Allocation
After each Cycle, the revenue generated from the entry fees is to be distributed as follows:
- 50%: Winners’ Rewards
- 20%: QDX Buy-back & Burn
- 15%: Premium Rewards
- 10%: Invite and Earn bonuses
- 5%: Platform management
Winners’ Rewards
At the end of each cycle, 50% of the revenue generated from the round’s entry fees will be used to pay the cycle’s winners. The winners’ reward pool is divided by the number of winning cards to calculate the reward for each winning card. Each winner can then claim their reward by burning a Safari card. Upon claim, the BNB prize is transferred to the winner’s wallet.
Premium Rewards
Holders of premium NFT cards (higher than the Safari level) earn passive income through a staking mechanism in the smart contract. The reward pool (15% of the Cycle’s revenue) is divided as follows:
- 45%: Zenith cardholders
- 35%: Aurora cardholders
- 20%: Stellar cardholders
QDX Buy-Back & Burn
Thanks to the Buy-back & Burn smart contract in the QDX Raffle, the total supply of QDX will reduce over time. After every four rounds, 20% of the revenue generated from entry fees will be used to buy back QDX tokens from PancakeSwap’s QDX/WBNB pool. These bought-back tokens will be sent to an unspendable address so they can never be retrieved or accessed again, removing them from circulation.
Invite & Earn: The More, The Merrier
At the end of each round, 10% of the revenue generated from entry fees is distributed as a bonus to the players who invited the winner(s) to join the game. This means you get rewarded when your invited friends win in the cycle!
Platform Management
To ensure the long-term success of QDX Raffle, 5% of the generated revenue is used to maintain the platform. These funds will be used to hire developers to improve the game, pay for marketing efforts to increase awareness about the game, etc.
Why Should You Participate in the QDX Raffle?
QDX Raffle is a game you will enjoy playing. You can also invite your friends to join so you can have fun and win together. QDX Raffle gives you various ways to earn:
Win Big in the Draw
Each time you enter a draw, you stand a chance to win big. Moreover, there will be 1-5 winning cards for every 20 entries in a cycle. Since you can have up to 200 entries in a single round, you can have multiple winning cards. The more Safari you mint to enter the cycle, the higher your chances of winning big.
Sit Back and Earn Passive Income
Holding premium NFT cards means you will earn passive income from each cycle. This allows you to earn rewards even if you don’t win in the draw.
Grab Invite & Earn Bonuses
You can also invite your friends and family to participate in the QDX Raffle and stand a chance to earn rewards when they win in a cycle.
Final Thoughts
QDX Raffle is an exciting opportunity to interact with the QDX ecosystem in a fun and rewarding way. You can earn in different ways, meaning you don’t lose even if you don’t win the cycles. Sounds cool, right?
We know that by now, you are super excited and can’t wait to participate in the QDX Raffle! Remember that you’ll need some QDX and BNB tokens to join. You can buy them now on Quidax or PancakeSwap (V2).
Disclaimer: This content may cause extreme FOMO (Fear of Missing Out). Side effects of investing include sudden wealth (or, you know, the opposite 😢). Please do your own research (DYOR) or speak to your financial advisor before making any decisions.
