DeSpace NFT Lottery Pad — All you need to know 🎲

As you all know by now, we’ll be releasing two of our NFT products, Lottery Pad and Auction Pad, on November 10, 2021! This is a massive milestone for us, and we’re sure you’ll love the NFTs we’ll be releasing shortly.

But what is a Lottery Pad without a lottery? We’re excited to announce that our first lottery will begin on November 15 🚀 We’ll be raffling off some amazing DeSpace NFTs to celebrate this historic milestone, designed by none other than BMD ONE — the visionary artist behind DeSpace’s unique look.

You can access the lottery through DeSpace’s dApp, or by navigating directly to https://lottery.despace.app/.

Read on to make sure you’re aware of all the details leading up to the lottery. Remember, $DES is always the ticket 🎟

‘Sweet Illusion’ by BMD ONE, exclusively for DeSpace.

How it works 📚

We want to make the lottery available to everyone, which is why participating doesn’t cost anything — you simply need to stake $DES in the Lottery Pool in order to redeem entry tickets. If you’re lucky enough to win there’s a fee associated with minting, payable when you claim your NFT.

There are three tiers for each lottery, increasing in rarity and value. It takes more $DES to claim higher tier tickets, and costs more to redeem higher tier NFTs.

🎉 You only need to stake $DES to be eligible for tickets — you don’t actually need to buy them! You’ll only pay the fixed NFT cost if you win! 🎉

Take a look at the tiers and keep reading for an explanation of how the lottery will work.

🎟 Common Tier

Price per ticket: $100 worth of DES
Fixed cost for 1 NFT: $100 worth of DES
Tickets: 1000
Common NFTs: 333

🎟 Rare Tier

Price per ticket: $500 worth of DES
Fixed cost of 1 NFT: $500 worth of DES
Tickets: 200
Available Rare NFTs: 33

🎟 Legendary Tier

Price per ticket: $1000 worth of DES
Fixed cost of 1 NFT: $1000 worth of DES
Number of tickets: 100
Available Legendary NFTs: 3

Here’s how it’ll work:

1. 72 hours before the lottery, snapshotting begins. Make sure you have enough $DES staked in the lottery pools by this time for the tickets you want to claim!
2. The snapshotting takes 48 hours, and your $DES must be staked the entire time for you to redeem your tickets.
3. If the lottery is with a partner token, you’ll need to stake your tokens in staking pools set up specifically for the lottery.
4. You can claim more than one ticket from each tier. For example, if Bob has $2000 USD worth of $DES he can claim 5 Common Tier tickets and 1 Rare Tier tickets and 1 Legendary Tier ticket.
5. 24 hours before the lottery, the DES/USD price gets pegged and ticket claiming begins.
6. Tickets are issued on a first come, first served basis. There aren’t unlimited entries, so you need to be quick to claim your tickets! Missed out? Don’t worry, you can always try again for the next lottery 😘
7. Once you’ve claimed your tickets you can unstake your $DES, but remember: while it’s staked you’ll be earning rewards 💸
8. Cross your fingers! The lottery takes around 2 to 5 minutes to complete, after which you can see if you’ve won. Simply open the DeSpace app, navigate to your ‘My Tickets’ page and see if there is an NFT claim there instead 🎁
9. The winners then have 12 hours to claim their NFTs at the fixed prices published above.

We’re collaborating a lot with our fantastic partners, so it isn’t just $DES that gets you into these lotteries. Depending on the partner you’ll also be able to stake their tokens, opening participation to both communities 💖

Where to stake?

There are currently two pools where you can stake DES to be eligible for tickets. For now, both are on BSC only.

First, navigate to the staking section of the DeSpace dApp. You can access it through the app, or go directly to https://staking.despace.app/.

Next, add your DES to one of the eligible pools. These are the ‘DES Pool’ and the ‘Lottery Pool’. DES staked in either is eligible for tickets.

Make sure you stake before snapshotting begins! After snapshotting finishes you’ll be able to claim your eligible tickets.

Get ready for the NFT revolution 💪

Lottery Pad gives everyone the chance to participate in the booming NFT market. And remember, with DeSpace NFTs you’re not just buying a pretty jpeg — you can also stake, combine and upgrade them to improve utility in the entire ecosystem.

We’re going to be announcing more NFT and DeFi features going forward, so make sure you’re in our Telegram groups and following on social media! And as always, thanks for being with us on this journey ✨

The DeSpace Team 🚀

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