The team will introduce a Lottery system which is designed to allow participants to win a Prize Pool, while keeping safe their deposited funds (which can be withdrawn at any time). The lottery is also part of the burn mechanism to reduce total token supply in market.
Users who deposit $REBASE to the lottery will be entered into games. The more $REBASE tokens a user deposits, the higher the odds of winning the prize pool. There is a Withdrawal Tax Timer on the amount deposited.
Each time a user deposits $REBASE into the games, the protocol will start a new 14 day Withdrawal Tax Timer. The Withdrawal Tax will begin at 30% and reduce to 0% over the 14 day period.
Withdrawal Tax penalty will be shown during the withdrawal of $REBASE from the games. This timer resets back to 14 days each time the user deposits more $REBASE.
When a new participant enters the lottery, the amount $REBASE deposited will be stacked together and generate rebase interest and accumulate in Prize Pool. The prize pool will then distribute the winnings when the game has ended.
When the countdown reaches 0, the current game will end, and the prize pool will be divided as follows:
Prizes distributed by adding to current deposits. If the Withdrawal Tax is yet 0% at the time user win, the user will have to wait the remainder of the timer countdown before being able to withdraw total winnings without being taxed.
The games work like any probability lottery, your chance of winning is based on your $REBASE deposited divided by total $REBASE deposited.
Clarification - the lottery system takes an average of your deposits throughout the duration of each game, meaning if you wait to deposit at the end you will have a drastically lower chance than if you had deposited at the start. This is to discourage whales from earning their regular rebases and then jumping in last minute.