Lucky8 is a project that involves both the Radix network and a lossless lottery. In this lottery, participants are required to stake a minimum amount of 1000 $XRD into a validator node on the Radix network. By staking, participants earn $LUCK tokens on their staked assets each month and become eligible for a monthly prize draw.
The project aims to provide a win-win situation for participants, as they have the opportunity to earn $LUCK tokens while also having a chance to win big-money Lucky8 prizes that are paid out in Radix.
Partnership
In addition to the prize pool, lucky8 has partnered with various projects who have contributed their tokens or NFTs as additional prizes in the lottery drawings. Some of the partners mentioned include RippyClip, Radix Inu, Radical Penguins, Radical Robos, Natty Radishes, Radix Panda, Radical Dinosaurs, RadHeads, StakeNordic, VikingLand, XRDScan, RadLads, Mutant Cat Society, PooP, and Radix Frogz Society.
Rewards
Lucky8 is a lossless lottery platform on Radix that allows users to stake Radix ($XRD) tokens and earn $LUCK tokens. They also conduct monthly and yearly lottery drawings where participants have the chance to win a minimum monthly jackpot of 20,000 $XRD and a minimum yearly jackpot of 120,000 $XRD.
Token economics
$LUCK Token
The $LUCK token is the native token of Lucky8. By staking Radix ($XRD) with their Validator node, users can earn $LUCK as rewards.
Farming LUCK
Staking Radix ($XRD) with Lucky8 allows users to farm $LUCK tokens. The exact details of the farming process, such as the rate of token generation or the farming duration, are not explicitly mentioned in the scraped data.
Monthly Jackpot
The minimum monthly jackpot for the Lucky8 lottery is stated as 20,000 $XRD. However, more specific details about the jackpot distribution or how it is funded are not provided.
Yearly Jackpot
The minimum yearly jackpot for the Lucky8 lottery is mentioned as 120,000 $XRD. Again, the details regarding the distribution or funding of this jackpot are not specified.
Spending $LUCK Tokens
Users can spend their LUCK tokens to participate in the yearly drawing. Fractional $LUCK tokens are not returned, and users need to spend their tokens by May 31st, 2023, 23:59:59 UTC to be eligible for the drawing. The drawing offers a chance to win 120,000 $XRD.
How to play
To play the Lucky8 lottery you need to first stake at least 1000 $XRD with their Validator node. Here are the basic steps:
Copy the Lucky8 validator node address
Go to your Radix wallet and navigate to the Stake/Unstake section
In the "Stake Tokens" tab, paste the Lucky8 validator node address into the "Validator" field
Enter the amount of $XRD you want to delegate to Lucky8 (the minimum is 1000 $XRD)
Click "Stake" and confirm the transaction
Once you have staked at least 1000 $XRD with Lucky8, you will begin earning $LUCK tokens. These tokens can be used to participate in Lucky8’s monthly and yearly lottery drawings.