Exploring the Nezha Draw—$100,000 Jackpot Available Every Week!

Exploring the Nezha Draw—$100,000 Jackpot Available Every Week!

May 09, 2022

5 min read

Exploring the Nezha Draw—$100,000 Jackpot Available Every Week!

Hello Nezharians! As we’ve already shared, at Nezha’s launch debut, we will have one of our first games deployed for you to start playing immediately! 

Called the ‘Nezha Draw’, we are inviting players to test their luck at our fresh take on yield farming, where you can deposit as little as $25 USDC for the chance to win, week after week. It’s also the very first game where our users can truly stake it to make it, and potentially land a huge six figure jackpot! 

Here, we will deep dive into how the Nezha Draw works, explore how we make a $100,000 USDC jackpot available every single week, and discover why the Nezha Draw is going to be the first game to feature on the Nezha platform.

How is Nezha Able to Make a $100,000 Jackpot Available Every Single Week? 

Every week on the Nezha Draw, there is at least $100,000 in USDC up for grabs. The six figure sum, a huge jackpot even by traditional standards, is available week, after week, after week. But how? How is Nezha able to offer such a huge jackpot right from our launch?

The answer to this is simple: we leverage our founder’s deep experience and links in the online gaming space to pair Nezha with specialist insurance technology providers; who deploy tailor-made payout protection for our prediction market games. By offering insured games, we become the first platform that can offer attractive jackpots right out of the box. To solve this huge barrier to growth for new platforms, we have developed the first on-chain insurance agreement with internationally acclaimed fixed risk insurer RSIQ, enabling Nezha to rapidly scale.

Our insurance fund is tailored to the Nezha Draw game, and stands ready to pay out in the event that someone wins the jackpot (read on for how to win!). This enables Nezha to offer users two key features from our inception that other platforms don’t: 

  1. Consistent six-figure jackpots available from our launch without needing to build our platform user numbers first,  
  2. Guaranteed payouts in the event of a jackpot win insured by trusted third parties, 

Technically, with Nezha, it’s possible that someone could win the $100k USDC jackpot with just a small sum staked in the Nezha Draw in the weeks immediately after our launch. But, like we say… you’ve got to stake it to make it first! So, let’s discover how the Nezha Draw works, and how you can participate.

How does the Nezha Draw Work?

The Nezha Draw functions similarly to a traditional sweepstakes game. At the beginning of each Nezha Draw game, six numbers are attributed to each player entry. Each participant is awarded entries proportional to the number of tokens staked into the protocol, which will be a stablecoin such as USDC. So, while the minimum staking requirements start at just $25 USDC, you can stake all the way up to any amount of your choice for increasing chances to win! 

Each Nezha Draw entry holds a series of numbers as well as a unique identifying ID per entry ticket. Every series of numbers generated for the Nezha Draw is passed through a True Randomness Generator using atmospheric noise to translate it into a sequence of truly random numbers. 

A separate sequence is then initiated to generate the winning number of the lottery. Using a Verifiable Random Function (VRF) infrastructure, Nezha generates a sequence of six unique numbers generated at random using Goldberg’s verifiable random function. In this function, a public and a secret key are generated which ultimately determines the winners of each Nezha Draw round.

How Do You Win the Nezha Draw?

For the Nezha Draw’s first launch, payouts from the prediction pool are structured into two tiers. In the event that any Nezha Draw participant holds four or more of the drawn numbers in the correct order, they hold a claim to part of the Prediction Pool – the prize pool from which Nezha Draw winnings are paid. All participants who hold four out of six drawn numbers in the correct order are awarded a claim of the total YieldPot.

Nezha Draw stakers who hold five out of six numbers matching the prediction market outcome in the correct order will be awarded a higher claim of the total Nezha Draw Yield Pot. And, for those lucky players who hold six out of six numbers matching the prediction market outcome in the correct order, they will be awarded the grand prize – our huge jackpot of over $100,000 USDC. This jackpot is available every single week, so while it’s likely the jackpot will remain unwon, it’s possible that someone could walk away with this huge sum any week that the Nezha Draw is live!

To celebrate when a lucky winner takes home the Nezha Draw jackpot, we’ll also be exploring the issuance of exclusively minted NFTs. Not only is this a great way to remember a win, but it also enables us to track jackpot winners. These dynamics provide sufficient variety to assure non-bias towards large market participants as well as continuous increases in value of the yield generating sum.

We’ll soon be releasing more information about the debut launch of our Nezha Draw game, make sure you follow our social media accounts below to find out more information and get ready to stake it to make it! 

About Nezha: Nezha.fi is a revolution in prediction markets. Nezha is the liquidity engine for prediction markets where the participants do not wager their principal investment, but rather the yield generated on the pooled principal of all participants. Learn more at: https://www.nezha.fi/.