In this post, we will explain more about how the lottery style works for NFT drops and answer the most frequently asked questions regarding our first NFT drop.
With the upcoming Flippies NFT sale, Solanium is positioning itself to bring fair and quality launches to the Solana ecosystem. We have noticed in the past few months that it is hard to orchestrate a fair NFT launch. Gas wars on other chains, bots trying to snipe by directly interacting with contracts, various scam attempts, RPC nodes going down and many more issues that were making it harder for the average user to enter a NFT sale or minting process.
We are trying to bring fair NFT launches to the Solana ecosystem by leveraging the Solanium lottery model and extending this with a transparent and verifiable randomization feature.
The majority of our community is already familiar with our lottery and staking model. This model works the same for NFT launches. Tier 4 and Tier 5 have a guaranteed allocation and Tier 1 to 3 have a chance to win an allocation (as have Social Pool participants). For Tier 1 to Tier 3 applies: the higher your tier, the higher your chance to win an allocation and the higher the allocation will be. Tier 5 will have a larger (guaranteed) allocation than Tier 4.
Social Pool participants will also have a chance to win. 1 winning ticket will be equal to 1 NFT allocation. You can have multiple winning tickets. The more tickets you have, the higher your chances are to win.
So for NFT drops it is possible to win an allocation that enables you to purchase multiple NFTs. This is also the case for the Tiers with guaranteed allocation. If an NFT is priced at 1 SOL and you have won an allocation of 3 SOL you can purchase up to 3 NFTs.
We are implementing a new anti-bot feature that is only applicable to Social Pool participants. Social Pool participants that signed up with a wallet containing the price of a single NFT for that specific sale have a bigger chance to win.
For example, a NFT sale is happening and the price is 1 SOL. Users that have at least 1 SOL in their wallet in the Social Pool have a higher chance of winning than users with less than 1 SOL in their wallet.
The snapshot for the balance will be taken once the whitelisting period has closed. This feature is not enabled for our Staking Pool.
The main difference between a normal sale on Solanium and a NFT sale is that a NFT sale runs in multiple rounds instead of a single round. Because the supply of an NFT is limited, we can not oversell a NFT sale.
Every round lasts for 24 hours. If you are selected as a winner in that round, you need to participate within those 24 hours. It is not required to fill your allocation 100%, for example: You won an allocation of 5 SOL, the NFT price is 1 SOL, you can buy any amount up to 5 SOL.
After a round ends, a re-draw is taking place selecting new winners to fill up the unfilled allocations. Once a new draw has taken place we will post a notification on our social media and you can connect your wallet again to see if you have won.
If you filled 100% of your allocation in a single round, you can be re-selected in a future round.
This is a new feature of our lottery model that will be used for NFT drops. To make a drop fair and transparent, it needs to be verifiable. Therefore we will publish a list of all addresses that participated in the sale. Next, we will determine a future block and use that blockhash to randomize the list. The order of that list will determine the distribution of the NFTs.
For example: Flippies NFT is selling 10,000 NFTs. After the sale, we will publish a list of 10,000 entries containing all the addresses of the participants (or duplicate addresses if a user bought multiple NFTs). With that list, we will publish a future block # or timestamp. Now we wait until that block appears.
Once the block has appeared, we will use the blockhash of that block to randomize the list. Code to replicate this will be published on our Github (same as the list). Let’s say you participated in the sale and after randomization, you end up on #5 in the list, that means Flippie #5 will get distributed to your address.
We truly want to revolutionize the NFT space by bringing fair and transparent launches. The feedback on our first NFT drop will be used to improve future NFT launches, as well as future project launches.
We hope we can set a precedent for Solana NFT launches and give new and existing users to Solana a positive experience with the Solana ecosystem.