QuantumFair: A Raffle Protocol for OP
Our team is delighted to share a new raffle protocol for public goods on Optimism: QuantumFair. (We are currently in BETA phase, smart-contracts are done, and finishing integrations)
At the heart of QuantumFair is the idea that communities and projects can leverage their social capital to create raffles and support particular endeavors. As a result, community raffles allow for new value-discovery mechanisms and social coordination to occur.
Raffles are one of the world’s oldest games. However, raffles are not fully on-chain and not currently used as a tool for public goods!
How QuantumFair Works:
QuantumFair aims to bring raffles on-chain with modular vaults. A vault can hold a combination of ERC-721 and/or ERC-20 tokens. A raffle owner (operator) sets their raffle parameters: ticket price, ticket asset (Eth, OP, USDC/T), raffle objective, reserve price, and expiry date.
API3’s Quantum Random Number Generator (QRNG) chooses the winners. The prize and funds are trustlessly transferred to the winner and any pre-determined beneficiaries.
[edit- deleted past raffles for a more concise reading]
Our smart contracts are complete, and integrations are nearly done; we have learned immensely from the community feedback. We look forward to growing, working, and learning further with everyone in Optimism.