Gexan [OLD]

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Gexan

More Than Just A Lotto

This project’s mission is to create an autonomous decentralized lottery platform. Gexan blockchain project wants to make fair lotteries with a high level of participants’ gains, as well as to minimize losses receiving the prizes.

On the Gexan platform, all stages of the draws, including the purchase of tickets, random numbers generation, distribution of the fund prize, verification of the winners are based on the technology of the distributed register. Moreover, everything is built on open source code, which team will be publishing on Github.

There will be created an ecosystem of the project:

Blockchain
Smart contracts
Masternodes+hybrid POW+POS algorithm
Fiat gateways on the website and in the mobile application
internal exchange (any currency<==GEX==>any currency)

Lottery problems

Lack of transparency and proof that the winner is really random
Less than 40-60% of the revenue get allocated to the prize fund
Enormous sg&a and operating expenses,such as distribution, offices, shipping, retail fees etc.
Complicated prize cash-out
Possible problems with publicity after win

Project solutions

Visibility of the smart contract source code, so that anyone can validate the fairness of the drawing
Allocation of 85% of the ticket sales revenue to the jackpot
Transparent distribution system for awards, tickets and solds. Almost zero sg&a cost
Instant winning payments. No third-party participation
Protection of the winners’ anonymity

Project detailed description

Project team will develop an ecosystem consisting of

its own blockchain with masternode functions,
hybrid POW+POS consensus algorithm,
GEX coins,
lottery platform,
smart contracts,
participant wallets,
Fiat site gateways,
mobile applications.

Thus, the project will get the following advantages over traditional online lotteries:

The blockchain technology makes the movement of funds transparent.
Smart contracts regulate the lottery system – open source is available for anyone willing and can’t be adjusted, so the winnings cannot be tampered with.
Costs for sales outlets, staff, distributors, printing, lottery ticket verification and more are reduced. All these costs become part of the participants ‘ winnings, not the profits of third parties.
A reasonable developers’ fee, only 5% of the sold tickets amount, which is a possible budget for additional promotion of the project.
Blockchain lottery blurs the boundaries and allows you to choose the optimal tax regime: with low or no tax rates on winnings and there are the agreements on avoidance of double taxation with most countries of the world.

Gexan platform structure

About lotteries – games on this platform

5/36

The participant must “guess” the five main balls (choices are from 1 to 36), as well as one ball, is an additional one. Just it is called the ball “Powerball”. In total, this gambling game has nine prize categories. The minimum prize will be obtained if you guess the ball “Powerball” (values from 1 to 10). You just have to choose 5 numbers on the purchased ticket.
The draw will take place every day, and the fall of balls with numbers in the system is calculated according to the random number generator. Thus, no one can predict the fallen numbers in advance, and these numbers are completely random.

Pool

The next type of lottery will have guaranteed winners. The draw will be held in the following way: all participants send the desired number of tickets to the common pool, to the smart contract that records incoming transactions. Then there is a probabilities calculation of each participant according to the number of tickets sent to them. The more tickets the player has sent, the higher the chances he/she has to take prizes. After that, there is a “mixing” of all tickets and randomly the winners are determined. The first three places take most of the pool. Also, several dozen players who receive small prizes in the amount of two or three ticket prices are randomly determined.
5% of the total pool goes to the development team, the remaining amount is distributed among the players.

Promo Lottery

A few weeks after the completion of the Presale stage, the promo lottery with large prizes in the form of BTC will be held. To participate in such lotteries, a relatively expensive entrance threshold is provided, but the main prize will be drawn among the lottery participants 100%. Details of each of them will be announced in advance through social channels.

Project advantages

Team has identified three major advantages over other blockchain lotteries.

Fast and secure blockchain, which has proven itself for several months. It will introduce a smart contract and masternode will provide fast transaction speed.
85% of the sold tickets are players ‘ winnings! This is a key success factor, other projects have a rate of no more than 70%. The more and more people win, the more new participants will be.
Participants will collect Masternodes or POS stacks for the daily generation of new tickets. It is a protable and convenient. Why buy a ticket every time, if you can buy them once in the right amount and get them free. This is a unique feature of the Gexan lottery.

Initial Exchange Offering (IEO)

Project’s goal is to provide everyone with the most efficient and secure way distribute gexan coins and provide an reliable and efficient exchange possibility after sale. To achieve this goal, project team will distribute coins through initial exchange offering (IEO) – the most effective and actual way. The first IEO will occur on top 25 exchange by 10th may. Only 400 000 coins will be available for IEO – this is the best chance to get GEX.

Burning system
Project’s goal is to keep prices stable in the long term. To achieve this goal, it introduces inflation targeting by burning coins. This will help to stabilize the price of GEX after entering the exchanges, and in the long run it will contribute to GEX growth.

Investors at the IEO stage have a unique opportunity to buy a masternode or a certain amount of GEX for pos-stacking. Purchasing a certain amount of GEX at the IEO stage, you will receive new GEX every day after withdraw to your wallet. To get GEX through the hybrid POW+POS algorithm, you only need to store coins in your wallet, they will be credited to you automatically.

In addition to the high ROI, investors will be able to use their tickets to participate in daily lotteries. This is a double benet only for the earliest investors.

Coin Specification

Name & Ticker: GEX
Coin Type: Hybrid Pow/Pos
Block Time: 60 Sec
Coin Maturity: 6 Confirmations
Max Coin Supply: 21’000’000
Masternode Collateral: 5000
Stake Age: 1 Hour
Pow Algorithm: Phi2
Rewards: 40%/Mn | 40%/Pow | 20%/Pos
Block Rewards: 0.5 – 8 GEX
Premine – 1 480 000 GEX
Total For Sale – 1 000 000 GEX
Soft cap – 13.45 BTC, Hard Cap – 117.5 BTC (if a Soft cap is not reached – project team will issue a refund)
First IEO – 400’000 GEX
Second IEO – 600’000 GEX

Roadmap

Q1 2019
Gexan Mainnet Launch
Crypto Trackers Listings
Minining Pools Listings

Q2 2019 – Q3 2019
Initial Exchange Offering
Smart Contracts For 5/36 Lotto
Listing On Exchanges – 1st Round

Q4 2019
Marketing Campaign – 1st Round
Masternode Trakers Listings
Crypto Charts Listing

Project Team

Artem Vahrushev- Founder, Finance And Economics
LinkedIn

Rustam Mustafaev – Advisor, Pr And Marketing Strategy
LinkedIn

Artur Prints – Advisor, Xdna Foundation
LinkedIn

Kazimir Frolov – Blockchain Developer
Telegram

Vyacheslav Samoilau – Smart-Contracts Developer
Linkedin

Alisa Vaysbrod – Designer
Telegram

Alexey Liberman – Frontend Developer
Telegram

Natalya Levenkova – Graphic Designer
Telegram

Michael Sidorov – Frontend Developer & Digital Design
Linkedn