Gexan listed with Cryptoshib

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.

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.