Lucky8 is a win-win lossless lottery on the Radix network.

Stake a minimum of 1000 Radix (XRD) into our validator node, and you automatically begin earning LUCK tokens on your staked assets each month. You are also entered into a monthly prize draw at the same time. Everyone staked to the validator is in with a chance of winning big-money Lucky8 prizes that are paid out in Radix. We’re talking tens of thousands of XRD every month, and the potential for hundreds of thousands, if not millions, of Radix per year.

So how does it work? Put simply, your stake is your tickets for the monthly prize draw. But even if you don't win, you will still earn valuable LUCK tokens for the yearly prize draw.

There’s nothing better than a stake that always earns LUCK tokens while also giving you the chance to win big-money prizes. It's literally a win-win situation.

LUCK is Lucky8’s token that allows holders to earn entries into the yearly prize drawing. By staking XRD, you receive a portion back in the form of LUCK.

But wait, there’s more! LUCK will also provide voting power in Lucky8’s DAO governance model to be released after the Babylon network upgrade enables smart contracts. Holders can make and vote on proposals created by the LUCK-holding community.

The LUCK tokens contract address is: luck_rr1qv8aqx2u6veqs06nzuzrchfms8fz3t33vrxx9mjgja8q6uze43. Be sure to use this address for any LUCK related transactions!

We are here to help as many people as possible grow their assets safely while having fun doing so. DeFi and Lucky8 offer an alternative to banks — a world where stakers are rewarded with growth rather than punished by inflation. We are determined to build a future where saving is enjoyable, profitable, and open. Where crypto interest rates are people’s first choice. And where our staking pools and win-win prize game deliver financial freedom to all. We plan to bring as many people to DeFi as possible. Because decentralization is for everyone.

For this first iteration of Lucky8, your assets are NEVER out of your control. You stake with us and can unstake just as easily at your discretion. Lucky8 is essentially a brand extension from core members of the XRDScan team working alongside carefully selected partners. The backing of this project — 15 million XRD — means you can be sure that the code, staking pool, and prize mechanism are entirely secure and trustworthy. Lucky8 will only ever partner with blue-chip projects and partners to give you even greater confidence your crypto is safe. We believe in the Radix ecosystem and want to help contribute to its growth to consistently build and grow.

Your stake into our node acts as your entry tickets. In a traditional prize draw, your stake is taken from you because the prize money comes from everyone’s entry fees. But Lucky8 is different. It's a win-win savings game. The assets you deposit are grouped together and used to earn returns from Radix’s network emissions that will continue for the next 40 years! And so that’s where the prize money comes from — interest earned by Lucky8 through the network’s emissions. Your initial stake helps create the prize fund but is never taken from you. So, you play for no loss! This is how it’s possible to be part of a win-win prize game, but not lose any money.

Lucky8 does two things:

(1) gives you entries every month in the form of LUCK tokens for the yearly drawing
(2) gives out big prizes in Radix each month

Crypto has value. You can buy things with it. So, it’s good to have more of it than less of it. One way people get crypto is to buy it with money (USD, for example). But Lucky8 helps you get more crypto without having to spend anything. All you need to do is stake Radix into the Lucky8 validator node. Not everyone has deep pockets to become a Radix whale, and this node is your way of massively increasing your bags for very little investment.

Once you have staked Radix into Lucky8 then you accumulate more LUCK each month, which can be used to enter the yearly drawing, or sold on the open market to speculators or those looking to get extra chances at the biggest lottery. Lucky8 can do this because we monitor the ledger automatically for your stake to ensure it stays with our node during the entire month. You can remove your staked Radix whenever you want. It always belongs to you.

The other thing Lucky8 does is give out monthly prizes. So, everyone who uses Lucky8 is in with a chance of winning big each month. The computer code randomly selects a prize-winning ticket. And prizes are paid out in XRD. The money for these prizes again comes from the network emissions paid by the Radix network. Not from you. This means even if you don’t win you don’t lose anything.

Radix has one of the best ecosystems around, and since we are all very early, it leaves plenty of room for multiple projects offering similar services.

At the time of this publishing, we only know of one competitor in this space. Their fee is very low, resulting in low prizes. They also cannot get up to our 100% node fee without taking a very long time to do so, or without completely relaunching under a new node, which means everyone must unstake from the old node, wait, and restake. How cumbersome!

We launched with a 100% validator node fee from the get-go, allowing us to structure our games to have the biggest monthly and yearly payouts of any project on Radix to date!

Check out this quick math: If our competitor had 50 million XRD staked to them, they would give out an estimated total of 60,000 XRD per year.

Vs.

When we reach 50 million XRD staked to us by users, we will payout an estimated 208,333 XRD per MONTH split between 3 winners, and one winner would get an estimated 1,250,000 XRD for the grand prize in the yearly drawing! That’s almost 21x what our competitor can offer!

This is the easiest lottery you could ever hope to partake in. All you need to do is stake your XRD to the Lucky8 validator node on the Radix network! While we patiently wait for Babylon and smart contracts to come to the Radix network, we have decided upon two types of drawings: Monthly and Yearly.

The staking period for the first monthly draw went live on 04/18/2022. This is also when you can begin to accumulate LUCK tokens for the yearly draw.

There is a 1000 XRD minimum stake to be eligible for the monthly drawings and earning LUCK tokens toward the yearly drawings.

100 XRD = 1 entry into monthly drawing …so 1000 XRD minimum = 10 entries into monthlies.

A total of 3 winners will be chosen every month to split the prize pool equally. Only one (1) person will be chosen to win the yearly prize! A list of secrets has been generated to cover monthly drawings for the next 40 years (enough to outlast the Radix network emissions). Winners will be chosen at random utilizing these secrets in a provably fair way that anyone can check after the drawing has been held to ensure that it’s not been tampered with.

For every 100 XRD you stake beyond 1000 XRD, you earn an extra entry into the monthly drawings. Until Babylon, the monthly drawing tickets will be tracked off-ledger by our lottery program we’ve custom built for this.

LUCK tokens, however, will be tracked manually for accumulation, and then paid out to stakers after each monthly drawing. You’ll want to save these so you can spend them later on entries into the mega yearly grand prize.

LUCK is accumulated DAILY, so trying to hold out until the last day of a monthly staking window is ill-advised as you will cost yourself precious LUCK towards the yearly! We’ll get into more of the specifics on how LUCK accumulation is calculated for this later in another section…

In simple terms, the Radix Network has a network emissions incentive for users to earn XRD by staking their Radix to validator nodes to secure the network. Around 300 million newly created XRD is given out to validator nodes each year. Most validators run with a very small percentage fee to be able to cover the costs of running the node, as well as make a little for themselves for part of the trouble.

One of our competitors does a similar thing, and they very graciously give away part of the XRD they earn in fees to their members in the form of a lossless lottery just like ours. The only problem is…. THE PRIZES ARE SO SMALL!!

With the way the Radix network is set up, node fees cannot be increased more than 5% every so often, so it would take them a very long time to be able to amp those giveaways up to get close to ours.

Lucky8 launched with a 100% validator node fee. This means that all the emissions that are given by the Radix network to our node, we keep. This gives us the ability to offer larger prizes than other lossless lottery nodes. You also do not lose any of your staked amount during this process. Your funds always remain in your control, and you can unstake whenever you want if you no longer wish to participate. You receive back what you staked!

A team, we will call The Founders, has committed 15 million XRD to the initial node. This keeps the node deep within the Top 100, with no real risk of being pushed out as new nodes come online. The Founders also are initially funding the monthly giveaways with the emissions their stake is capturing from the Radix network, as well as fully guaranteeing the minimum yearly giveaway. This way, no matter if the project takes off or not, someone WILL win a huge sum of XRD after one year!... (but we all know this is going to blow the doors off staking nodes and we’ll be giving away MUCH more than we are going to guarantee!!)

For monthlies, no! Your monthly entries are automatically calculated off-ledger and will be entered into the drawing. Just stake and forget it. If you win, you will have your XRD sent to your staking wallet address to do with as you please (or restake and get more of that sweet sweet LUCK token).

LUCK tokens are calculated automatically and distributed to you monthly to save up for the yearly drawing.

Absolutely! By staking with Lucky8 at the beginning of each yearly period, there’s roughly a 30x+ benefit in the amount of Bonus LUCK paid out over the course of a year to a user who staked in Month 1 compared to someone who jumps in with the same amount of XRD in Month 12.

See the next question to understand how we calculated this.

You earn 1 LUCK per 100 XRD (minimum 1000 XRD staked to qualify) as your "Base" LUCK, no matter when you start staking. There is also an opportunity to earn BONUS LUCK by staking and staying staked.

There are a few factors that go into calculating how much Bonus LUCK you can earn. The amount of XRD you have staked and when you stake it are the two biggest factors. We have an equation that solves all of this. Early stakers will be paid an extra bonus amount of luck for being “early”, and that will last through the entire period in which they’re staked. If, however, someone decides to stake early, remove their stake, and then come back, their bonus multiplier will be reset and so will their extra LUCK, so it really does pay to stake and stay!

Example:
Person 1 stakes 1000 XRD on Day 1 of Month 1 and will earn about 150 Bonus LUCK before the drawing.
Person 2 stakes 1000 XRD on Day 1 of Month 6 and will earn around 42.5 Bonus LUCK before the drawing.
Person 3 stakes 1000 XRD on Day 1 of Month 12 will only earn around 5 Bonus LUCK before the drawing.

That means Person 1 earned 3.50x more luck than Person 2 and 30x more than person 3 because they left their skin in the game for longer. You are rewarded for your loyalty!

For more details, check out our Tokenomics.

LUCK generation calculations will reset yearly after the big draw. If you stake in M12, you won’t get a bunch of luck for that year’s drawing, but you’ll automatically be set to the higher earning amount when M1 of the new year of staking begins!

For the first year, at least, you will need a whole LUCK token to enter for the yearly drawing.

But what about that LUCK-y “dust” sitting in your Radix wallet? Well, there’s a reason we’re distributing LUCK to you in token form, and that’s so you can buy/sell your LUCK through a partner exchange!

We plan to have LUCK listed on partner exchanges to enable you to buy/sell/trade your LUCK. We realize that you may be just a little short on LUCK to get you that next drawing entry you want. Maybe you’re overflowing with LUCK and want to sell some for a profit? Maybe you don’t want to stake with us at all, but those XRD jackpots are just too damn tasty to pass up and you want to buy some LUCK in an OTC fashion? It’s up to you to do with your LUCK what you please!

That’s an impossible question to answer. We will have sections available on the Lucky8xrd.com website to track how many estimated entires for monthly drawings will be accumulated, as well as how many LUCK have been generated to date. There will also be a projection of how many LUCK can be generated by the time the yearly drawing is held if the amount staked sits where it is at the time the numbers were calculated.

Users will be able to stake and unstake at will. No one is locked in. This can and will affect how many drawing “tickets” there are monthly, as well as LUCK generated. Some may disqualify themselves from monthly drawings by unstaking before they’re allowed to in order to be counted into that month’s drawing. New stake can hit the node at any time and increase the amount of LUCK being generated as well.

But one thing is for sure, the longer you wait to stake, the less LUCK will be created. Whales absolutely cannot come in with huge stakes in Month 12 and gobble up tons of LUCK to skew the final drawing.

Lucky8 is a win-win prize game. The whole point of Lucky8 is that no one needs to lose. Everyone can win! You are always in control of your XRD. All you are doing is staking it to the Lucky8 Validator Node. If you want to unstake, just unstake! There is no risk to your “deposit”.

Even if you don’t win the big prize, you never lose your original stake. This is a great place to park some of your XRD bags in hopes to catch a big win and really increase your position! Don't forget that the LUCK you're farming also carries value you can choose to hold it or sell it on the open market.

We’d like to think of it more as you are trading those emissions in for a different type of reward. You see, not only can you win huge prizes with Lucky8, but Lucky8 is the first project on Radix where you can actually farm a token with value.

The LUCK token is going to be pretty coveted. By our estimates, absolutely no more than 23,243,220 LUCK will be generated over the period of a year. That means only 23,243,220 chances MAX at a prize of XRD that we hope will be over 1 million+ XRD by the time the drawing takes place.

LUCK could have value that supersedes the value of the network emissions a stake would gain over a year. You may find it more profitable to stake with Lucky8 and simply sell your LUCK on the open market to those who want to win a chance at a big prize. Then, you would be getting guaranteed revenue versus the smaller chance of hitting it big.

As the amount of XRD staked to the network increases, APY will squeeze downward, meaning less and less rewards paid out to individual users in the form of XRD. But stakers on Lucky8 will see their LUCK grow and could offset those losses in emissions by selling a more valuable asset for additional XRD.

The team behind Lucky8 is composed of some of the same team behind XRDScan, along with a couple additional Radix “whale” founders. We are well known throughout the community and are intricately involved in building products to further the growth and support of the Radix network.

The best part with Lucky8 is that it’s run entirely from a stake that you are always in control of. You absolutely can never lose your funds because you can unstake at any time!

Our system uses three mechanisms to ensure that winners are picked randomly and that our off-chain process is fully verified.

Step 1: The Inputs

Before we launched, we generated 100 salt values and corresponding random strings using Bcrypt. Each of these salts represents a single drawing and will be used only once. You can see our pre-generated future lotteries on our Drawings page.

Each salt is fed into a seeded random number generator, generating a unique random number for the salt that was used.

Using bcrypt, we encrypt the random number and its corresponding random string using the salt that corresponds to them. The resulting hash is published for public consumption and can not be brute forced or dictionary attacked. This is what can be used to validate our off-chain operations.

Step 2: Mixing

In every drawing we allocate ‘tickets’ based on how much stake you have. These tickets are layered into a list, earliest stake first, creating a canonical queue of entry tickets.

Ex: If you have the oldest stake of 5,000 XRD qualified for the monthly drawing, you have the first 50 ‘tickets’ in the queue.

Once we have this queue of entries, we use a Fisher Yates Shuffle to ‘spin the barrel’ of entries before we draw. Because a Fisher Yates Shuffle is deterministic, given the Seed for this specific drawing and the list of entries, you will always get the same outputs. What this means is that anyone can reproduce our initial queue and our mixed queue, independently of our off-chain code.

While, technically, this is not necessary (random numbers are random, list distribution does not matter) we also know there is human nature involved and we want people to confidence that there is a mixing of entries happening to create a fair distribution.

Step 3: The Drawing

Using the random in-range number generated by the Seed for the Drawing, we randomly select winners from the mixed list of entries.

The process in action

Here is a technical example of how these elements flow together:

List of entries: 1,1,1,2,3,3,3,3,3,3,3,4,4,5,5,5,5,5,6,7,7,7,7,7
Salt: $2b$10$.HtyAzqqnNVmXLcOrYU94e
Shuffled entries from salt: 3,1,7,3,7,7,7,3,5,1,6,3,5,5,1,2,5,4,3,7,3,3,5,4
Random Number from salt: 0.4631134380850468
Input validation string: The quick brown fox:0.4631134380850468
Pre-published Validation hash from Input string and salt: $2b$10$.HtyAzqqnNVmXLcOrYU94exAhxx2k/h7yNDqP9RuCwXwPCv6xoRFK
0.4631134380850468 [seeded random] * 24 (number of entries) is our winning number Winning queue position: 11
Winning Wallet: 3

BTW - You can actually use the list of ordered elements and the salt above to recreate that information using Javascript. Go ahead, we'll wait..

How does this prove anything?

After each drawing, we will unveil the Seed for that drawing, the validation hash for the drawing, the winning entries, and the unmixed and mixed entries. Using these elements, anyone can verify our result by going through this process and comparing the Validation hash that we pre-published before we launched.

In the beginning, The Founders are putting up their own staking rewards, as a guaranteed minimum, to act as the prize pool to incentivize other users of the Radix network to stake to the node. This is what will form the basis of the Lucky8 prize structure.

Monthly: Users can win a guaranteed pot of at least 20,000 XRD! A total of 3 users will be chosen monthly and the prize pot split equally among them.

Yearly: Users can win a guaranteed pot of at least 120,000 XRD! This prize will go to only ONE person who has entered at least 1 LUCK token into the drawing.

At 86,000,000 XRD of user stake to the node, the monthly prize pot will be an estimated 358,333 XRD to be split between 3 winners. The yearly prize will climb to a mind-boggling 2,150,000 XRD for one lucky winner!

At the time of this FAQ's writing, 3% of the network is roughly 86 million XRD. Lucky8 will NEVER allow the node to have more than 3% of the network staked. We will close the node to new stakers when we hit the 3% mark.

Winners will be chosen in a provably fair method that can be verified by EVERYONE! All winners will have their XRD sent directly to their wallets after the drawing has taken place. You don’t have to do anything!

We’ll automatically send all users' LUCK accumulations for the previous month as well!

Prizes will be distributed no later than a week after the drawing to give our team time to review and confirm the results.

We have two measures in place to help reduce the impact of Whales on the game, one is a Stick (🪵) and the other a Carrot (🥕).

🪵 First: We prevent rapid stake/unstake by forcing minimum participation requirements: to be eligible for a drawing, you must stake at least 2 weeks BEFORE the date of the drawing. This aligns with the 2 week unstake window on the Radix network. What this anti-abuse measure does is ensure that anyone trying to stake/unstake in order to jump in and out of the lottery in an attempt to win without contributing to the pot will automatically fail since their stake/unstake windows put them outside of these boundaries. By implementing this, we defeat a common Whale practice of jumping in and out of eco-systems and quickly extracting resources before moving on.

tl;dr: The only way to play is to get staked, and stay staked, for the entire monthly drawing period.

🥕 Second: We reward long-term staking. The earlier you stake and the longer you stay staked, the more your rewards grow. We use a system of increasing rewards for duration of stake. You can see details in our Tokenomics section below.

For year 1, The Founders have set their fee at 25% of the network fees collected. These funds are split between the Founders and used to run and develop the project (marketing, artist, web dev, Scrypto dev). After Babylon launches, we intend to launch a DAO to help be the governance behind Lucky8 and will put fee changes, new games, reallocation of staking rewards, etc to a vote.

Understand that Lucky8’s initial launch is solely based on the network emissions, but that we plan to offer Liquidity Pair staking jackpots after Babylon is released and various DEXes go live. This is going to take a lot of work, and the sooner we can pay for a developer to focus on these products, the sooner we can begin testing them when the Babylon alpha and betanets begin going live later in 2022.

Only entries made 2 weeks before the Drawing will be eligible. This aligns with the Radix Unstaking Cooldown Period (which prevents rapid stake jumps) and ensures that everyone in the drawing has actually contributed to the pot. See "Won't the Whales Always Win" for additional details.

We generate LUCK in two ways:

Monthly Emissions

Monthly LUCK emissions: Based on overall stake in a month, we mint new LUCK and distribute it. This LUCK is minted at a fixed ratio of 1:100 (1 LUCK for every 100 XRD staked). 1000 XRD minimum, partial LUCK accumulated.

Monthly Bonus LUCK

To support our incentives program, we also mint Bonus LUCK every month to be distributed (See "Won't the Whales Always Win" for additional details). This LUCK is distributed along a simple curve fit to a distribution that minimizes LUCK inflation but aligns with our goal of incentifying long-term staking.

What we do that is unique is to dynamically allocate the emissions curve to EACH INDIVIDUAL STAKE, giving each wallet its Bonus LUCK yield curve based on time of stake and time to Lottery end.

The emissions curve is time based (set in months) so each stake starts its own journey on the curve based at time of stake. A user staking in Month 3 of the lottery will have that stake's Bonus LUCK calculated starting in Month 1 of the emissions curve even though there are only 9 months left in the lottery.

This 'curve per stake' approach allows us to reward everyone with Bonus LUCK while also recognizing and rewarding early and sustained stakers.

Examples of stakes starting at different times but going to end of Lottery:

• Person 1 stakes 1000 XRD on Day 1 of Month 1 and will earn almost 150 Bonus LUCK over the course of 12 months. Huge!
• Person 2 stakes 1000 XRD on Day 1 of Month 6. They start at Month 1 on the curve and, over the remaining 6 months of the Lottery, they will earn around 42.5 Bonus LUCK before the drawing.
• Person 3 stakes 1000 XRD on Day 1 of Month 12. For the last month of the Lottery, they will only manage to earn around 5 Bonus LUCK before the drawing.

You can see that Person 1, the early and long staker, has massively more LUCK as compared to Person 3, who shows up at the last month of the Lottery.

The distribution curve is shown below and details how much bonus LUCK would be generated off of 1 LUCK at each month of their initial stake. This chart shows both Monthly Yield (Month of Stake) and the expected total Bonus LUCK return at that month of stake (the integral).

Use this information to help plan your optimal approach.

At our theoretical maximum stake of 86 million XRD (3% of the network) we would generate a maximum of 23,243,220 LUCK.

While this scenario will never actually happen, it illustrates the theoretical maximum distribution of LUCK in year 1. It also demonstrates the power of early staking!
Liquidity Provision will be bought back and burned by the The Founders before draw, if used.

The Babylon network upgrade should occur before our first yearly drawing. We will have more details regarding this closer to the network upgrade.

Marketing LUCK - 0.10% of Monthly LUCK
When it comes to extra LUCK for Marketing purposes, we are going to limit the amount we can give away very strictly. Every month, new LUCK tokens are generated by the users of Lucky8. We will take that total and multiply it by 0.001 (0.10%). Whatever that number is, rounded to the nearest number up or down, will be the amount of LUCK allocated to the team to give away through various marketing promotions (AMAs, Twitter giveaways, community games, project partnerships, etc). We are loaning ourselves 100 LUCK to start from the 23,220 max.

(e.g., 1005 LUCK is generated in M1. 1005 * 0.001 = 1.005, so 1 LUCK is generated for marketing.)

Liquidity LUCK - TBD of Monthly LUCK
In order to create a liquid market in LUCK, we may mint additional LUCK that will be transferred to the exchange. This will ensure liquidity and minimize slippage.

This percentage is TBD and is in discussion with our exchange partners. We are using 10% as a working number. This LUCK will be burned before the drawing!

Lucky8 is just one of a series of new projects launching on the Radix network by the same team that brought you XRDScan. We want to continue to support the amazing Radix ecosystem and further develop new and fun things to do with your XRD!

That’s a no brainer! We want to payout the best and biggest prizes on the Radix network that have absolutely zero risk to our users! Both pre- and Post-Babylon.

The Founders will have the option to remove 250,000 XRD total per 1 million of new user staked XRD to the node.

We have plenty lined up to take us beyond just giving away massive pots of network emissions. Post-Babylon, we will add the ability to stake your liquidity tokens from other protocols with us to earn big prizes with their native DEX tokens. We also will be able to make things much more dynamic and add new lossless games, including daily and weekly draws. There will also be partnerships with other projects, daily draws, weekly draws, and the Lucky8 DAO will launch to let the community have stronger input on the direction of the project.

For a more detailed rundown of where we're headed next, hop on over to our Roadmap section!

Lucky Larry is a cheery chap who got his start back in the SatoshiDice days as a number cruncher. Taking the bets in and calculating the random number that spit out. While the work was exciting at first, he quickly grew tired of the traditional gambling scene and left.

From there, Lucky Larry traveled around a bit, hopping from chain to chain, backpacking his way through various smart contracts. Nothing felt like home though. Countless hacks, leaving his friends he had made penniless, really took a toll on poor Larry.

And so he hit the road again… this time looking for the network he could settle down into permanently. While on his drive, Lucky Larry caught a bit of bad luck and blew out a tire. But his luck turned around almost as quickly, as a passerby who only goes by “The Twig”, decked out in a RadixDLT jacket, pulled over to help. He brought Larry to a tire shop and, while the repair was being made, told Larry all about this fantastic new project he knew about called Radix. Larry could tell this dude was a total nutter, but he was on to something!

As soon as the tire was fixed, Larry thanked The Twig, got directions to Radix, and they parted ways. Ol’ Lucky Larry set a course to this unlimited scalability network protocol, and when he arrived… wow!

So much work was already being done. There were Abandoned Scorpions crawling all around the city. Nerds were hard at work coding something he couldn’t quite figure out. Penguins were sending assistance to other nations with their issues. There were roided out dogs building massive towers for all the new projects coming to Radix too.

Lucky Larry came across a really helpful gentleman by the name of Rippy. Rippy told him how amazing the others inside the Radix community were, and wondered what Larry might be able to offer to help build.

Well, Larry had been pondering this for years, and he wanted to create his own lottery where users could win massive amounts of prizes, but not have to worry about losing the money they had in their pockets. Rippy pointed him to a shiny new building right next to the XRDScan development tower. Larry signed a lease, bought some Natty Radishes from the grocer down the street, and put his nose to the grindstone to bring you what is now the Lucky8 Lossless Lottery!