No-loss Lottery comes to HPB!

Hpbpool.com comes to the HPB blockchain. Clearly based on the popular ethereum DApp “Pool Together”, only this time it avoids the eye-watering gas fees associated with ETH.

Hpbpool is a blockchain that allows you to save your HPB coin (a bit like staking) where there is an opportunity to win a lot of coins, but you can’t actually lose any. For those of you in the UK who are familiar with premium bonds, it’s a bit like that. You have a chance to win big, but can always cash out your original stake whenever you want.

To fund the prizes, Hpbpool uses the interest earned on purchased tickets.

Players deposit either the native HPB coin, or HRC20 tokens to buy tickets. Each “pool” will have a different prize based on the total value deposited by the players.

Players are free to buy as many tickets as they want and withdraw their coins and tokens any point. Whilst stored in the pool, they accrue interest for a period set by the “pool builder”

Winners are chosen completely at random using HPB’s unique on-chain hardware-based Random Number Generator (HRNG) where true randomness is derived from the tiny micro-voltage fluctuations measured on HPB performance node BOE (blockchain Offload Engine) cards. The winning addresses get the interest earned by the pool and their tickets back.

Non-winning addresses get their tickets back, and the game restarts. Everything is automated by smart contracts, so players don’t need to buy tickets again. As long as they don’t withdraw, they will be part of the lottery draws every week.

This type of setup is often referred to as a no-loss lottery. None of the players can ever lose their funds.

So where’s the catch?

The potential downside of joining these types of games are the opportunity cost of not being able to use your coins or tokens elsewhere, such as in staking or yield farming.

How to use Hpbpool

You’ll need a Metamask wallet, and at least a very small amount of HPB to cover the transactional gas fees. Don’t worry, we are talking less than $0.01 per transaction….not like the $50 per transaction we’ve seen with Ethereum in the past!

  1. Go to the https://hpbpool.com

  2. Connect your Metamask wallet — If you don’t have Metamask set to the HPB chain, the Network details are as follows:

  1. Select the pool you’d like to enter

  2. Click on Deposit, and enter the number of tickets you’d like to buy, by clicking the “view” button.

Depending on whether you wish to enter for the native HPB coin or HRC20 tokens, you may need to first approve the DApp to transfer your tokens.

  1. Type in the amount you wish to deposit, and hit the deposit button. Confirm your purchase. Once the transaction goes through on the HPB blockchain, you’re done!

once you are in the pool, you don’t have to do anything else. Your tickets will automatically be eligible to win until you withdraw. If you win, your winnings are automatically converted to tickets, increasing your chances of winning again.

It’s important to note that when you buy a ticket, it isn’t eligible for the current prize, only for the next one. This is to prevent players from exploiting the game by buying a ticket right before an interest accrual period.

WHPB is an HRC20 standard token on HPB MainNet. Right now, it is WHPB but not HPB that is supported on Hpbpool. If you wish to join the WHPB pool on Hpbpool, please visit Hpdex and swap your HPB to WHPB.

Create your own pool

As well as joining a pool, you can also create your own pool with the “pool builder”, where you can set the time the lottery will run for, the number of winners picked per game, and if a small percentage of the prize draw should go to yourself for setting it up.