What does "The House won" mean?
The House represents liquidity providers, not Megapot. LPs pre-purchase lottery tickets every round so there's a big jackpot, making it always exciting to play.
Liquidity providers often win because they often buy the vast majority of tickets. For example:
On June 9, players bought 17% of tickets, so LPs had an 83% chance to win.
On June 10, players bought 5% of tickets, so LPs had a 95% chance to win.
Without LPs, the jackpot would be much smaller, making it boring to play!
Players' odds of winning are fair. A player's odds to win the jackpot are the tickets they purchase, divided by the tickets in circulation.
Each lottery is completely random. We use Pyth's Entropy protocol to draw a winner, and Pyth's oracles secure $4B of assets. Our code has been independently audited to ensure fairness. Lastly, every lottery drawing is publicly verifiable on the blockchain. Here are event logs directly from Pyth, one that shows LPs winning (winner = 0x00..00) or a player winning (winner = wallet address).
Megapot takes no fees. All fees are distributed to liquidity providers and referrers. A 10% fee on tickets sold is provided to liquidity providers for building a big jackpot, and a 5% fee is given to the person who referred the player (if no one referred the player, that 5% goes to LPs).
Anyone can earn by being a liquidity provider or referring players!
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