👋 Hi Farcaster! I’d love to introduce myself and share about the protocol I’m building. 

I have led products at Uniswap and bought bitcoin back in 2015.

I’m a software engineer, product manager, and dad who lives in San Francisco... 🧵

building world's largest lottery. currently, crypto's largest /megapot • 🟪 #45, FID #1575 • ex @uniswap, now south park commons

I don't really understand the purpose of an LP in a lottery system..

Are they just essentially seeding the jackpots until there are enough users to create attractive jackpots naturally?

Seems like a superfluous role in the long-term and a raw deal in the short term

Two reasons:

1. LPs seed the jackpot to get this off the ground. Hard to get a big jackpot going when you have no players.

2. Lottery regulations are difficult - if you have players buy tickets and you pick a winner, that's clearly a lottery.

Ours is similar to roulette, but played on a massive scale with the whole world, and extreme variance (instead of 1:36, it's currently 1:150000). This likely falls into existing frameworks around online gambling, making it easier to integrate

Interesting! Thank you! 

Is it pretty easy to verify the odds?

Yes, it's fully onchain. We use Pyth Entropy to generate the random number, Pyth secures $7B of assets with their oracles

Contract is audited, overview here:

Yes, it's fully onchain. We use Pyth Entropy to generate the random number, Pyth secures $7B of assets with their oracles

Contract is audited, overview here: https://docs.megapot.io/deep-dive/smart-contract