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🐸 Article links:
LottoPGF Introduction | OttoDAO Introduction | How to fund a Network State
Social links:
Farcaster | Zora | X | Telegram | Community channel
TL;DR
We’re OttoDAO, building permissionless, cryptographic primitives to foster public goods. The first protocol we’re building is LottoPGF, which allows people to deploy a fully onchain lottery to fund a cause, public good or community in a fun way.
We’re currently looking for early contributors to the DAO (see Token and DAO) and will be opening a crowdfunding campaign on Juicebox to fund the DAO very soon.
Navigate the doc (Table of contents)
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OttoDAO
Mission
- Make the internet self-sustainable and keep it cypherpunk.
Vision
- Permissionless, cryptographic primitives that unlock capital formation mechanisms for public goods funding.
Strategy
- Build an out-of-the-box protocol that allows any community to incentivise the funding of its cause, with a focus on public goods and charities.
Product – LottoPGF
- Problem:
- Solution: A permissionless protocol to deploy transparent and unmanipulable lotteries for public goods funding on Ethereum.
Learn more in this embedded PDF 👇
LottoPGF-deck(June-'24).pdf
Tech
- Black Magic Algorithms: Onchain lotteries that model real-life lotteries, such as Powerball, are extremely difficult to implement efficiently in the EVM. We borrow some lesser-known algorithms from the latest in cryptography (e.g., stateless shuffles, grand product check) to achieve gas-efficient lotteries for both users and operators. @kevincharm previously developed a novel, unbiased, and gas-efficient method for raffling. More info here.
- State-of-the-art VRFs: public verifiable randomness sources are required and OttoDAO is committed to funding VRF research, including making VDF usable for practical use-cases beyond our lotteries.
- EVM-compatible drand (Phase 1): A new drand scheme that uses BLS on BN254 instead of BLS12-381 by one of our early contributors @kevincharm. More info here. This is used to generate a fair and onchain verifiable random number. This is the first incarnation of VRF that the protocol will use.
- Threshold VRF (Phase 2): A permissionless threshold VRF network that improves liveness guarantees compared to incumbent VRF solutions.
- VDF (Phase 3): Verifiable Delay Functions are the endgame for generating verifiable randomness. These are very close to being available for practical use through the VDF ASIC project and recent advances in SNARKs. We are actively collaborating with Justin Drake (Ethereum Foundation) and working on making these viable for use on the EVM and will implement this as a method for verifiable randomness as soon as it’s available.
Learn more in this embedded PDF 👇
LottoPGF-technical.pdf
Roadmap
|
LottoPGF v1 |
LottoPGF v2 |
Lottery features |
- Deployer picks parameters: ticket price, split between prize pool and contribution pool, prize draw time interval, and chances of winning (range of numbers to be picked). |
|
- After number is drawn there can either be 1 or 0 winners
- If “Apocalypse Mode” is activated, the lottery ends with either 1 winner or splitting the prize pool amongst everyone | - Deployer picks parameters: ticket price, split between prize pool and contribution pool, prize draw time interval, and chances of winning (range of numbers to be picked).
- Feature parity with traditional lotteries
- Tiered ticket prizes e.g. for predicting 3 or 4 out of 5 numbers
- Modularity, e.g. interfaces for ticket issuing (beyond sale and owner free claim)
- Roll fees to external contracts e.g. recipient address (vs organisers) |
| Extras | - Open source frontend (available)
- Farcaster frame template (available) | - Open source frontend
- Farcaster frame template |
| Fee | Fee Switch (X% from all deployed lotteries’ ticket revenue go to OttoDAO) | Fee integrated in the protocol (X% of all deployed lotteries’ ticket revenue go to OttoDAO) |
| Status | 3 iterations tested via PowerBALD and other deployments, feature set defined, final deployment soon | Initial POC in development |
| Audits | Code review by independent auditors, official review pending | n/a |