Multi-level rewards & crypto lotto platform
Backgrounder white paper by Fabiano Salsa - [email protected]
CoinBoomers is a provably fair, multi-level rewards platform and the main product is a weekly lotto. It is a free to join DApp and participants have no financial obligations with the system. There are no fees apart from commissions paid (10%) to the rewards structure when members choose to bet on the weekly lotto.
This Dapp gives all it's participants an equal opportunity of building their own "lotto shop". Once you recruit a new participant under your id, he or she will be a "client" for life and you could help them to build their own "shop" using the multilevel rewards structure, as their direct recruits will also be your clients for life.Multilevel commissions on weekly lotto bets.Membership
New users will have 2 options - Join under an existing user name or join under random allocation. When a new participant signs up using your code or username, he or she will become your level 1 client - direct recruit. When signing up, new participants will choose an username and can start to invite new participants under their username.Rewards structure
These are the maximum rewards paid to participants that bet a minimum of 10 ETH (100 points) per week:
Where do commissions come from?
- Level 1 (direct recruits) - 20% of commission.
- Level 2 (recruits of direct recruits) - 80% of commission.
- Level 3 on - no commissions
10% of all bets go to the multilevel rewards pool.
By offering a higher % of the commission from bets made by Level 2 recruits, the system stimulates all participants to help their direct recruit to grow their "shop" because the biggest share of the multilevel rewards may come from the Level 2 bets (possibility of more numbers & higher commissions).
Offering commissions on Level 3 would give a too big advantage to the initial batch of members so commissions on two levels only is a fairer system over time. This is not supposed to be a get rich quick scheme for early adopters but a fun and fair way for all participants to work on building residual income.
To activate FULL rewards commission (as above) a member must bet a minimum of 10 ETH per week on the weekly lotto.
To be an active member and access the multilevel rewards commissions, members must bet a minimum of 1 ETH per week, but in that case this member will only access 10% of possible rewards (10 points minimum). Bet 5 ETH on that week and you will access 50% of the possible rewards from your downline (50 points). Bet 10 ETH on a week (100 points maximum) and activate 100% of your downline rewards.
This motivates all participants that are serious about building their "lottery shop" to bet a minimum of 10 ETH per week to activate full rewards.
When a week ends and prizes are paid, a new blank cycle starts over so every single participant can choose to bet on the new week lotto and become active.
All non paid rewards for non active or not fully active participants go into the following week lotto draw.
John invited Paula. Paula signed up using John's id (ex. CoinBoomers.com/John). Paula invited Kate that signed up using Paula's id (.../Paula). Kate invited Julie and Carlos, both used Kate's id (.../Kate) to sign up.
This is one of many
of John's downlines:
Paula (John's level 1)
Kate (John's level 2). John has a full paying downline in this case.
Julie and Carlos (John's level 3). Both are not in John's 'paying downline'. Only Paula and Kate will access commissions from Julie and Carlos. Paula will get 80% of their 10% commissions and Kate as a direct recruit will get the remaining 20%.John making money from this downline on a specific week:
John bets 10 ETH on the weekly lotto.
Jonh has Paula as a level 1 recruit, Paula bets 8 ETH. John earned 20% of that full commission (0.8 ETH is the full commission) = John has 100 points (100% active) and gets 0.16 ETH.
Kate (John's level 2) bets 50 ETH on the weekly lotto and John gets the full 80% of the 10% commission = 4 ETH.
Carlos (John's level 3) bets 20 ETH on the weekly lotto, John gets nothing and commissions go to Paula and Kate but Paula access only 80% of her commissions as she has only 80 points that week. The remaining 20% goes into the following week lotto pool.
Julie did not bet that week so she is an INACTIVE member (that week). All of her possible downline rewards go into the following week's lotto pool.Other notes and recapitulation:
- Interface - Contacts boxes (or circles) - Personal contacts divided in at least 2 boxes - Upline and Downline. Connected members can interact via text message.
- To be eligible for multilevel rewards, participants must be considered ACTIVE. To activate their week, participants must bet a minimum 1 ETH every 7 days cycle. If a participant finishes a weekly cycle without betting a minimum 1 ETH on the lotto, he will be inactive that week - no multilevel rewards (shop closed).
- Commissions of inactive participants go into the following week lotto pool.
- Unnalocated new participants (signed up with no referral id) are only allocated when they become ACTIVE - Minimum 1 ETH bet.
- There are two weekly draws. Lotto and 'unnalocated active members draw'. You run for unnalocated members based on the previous week bets, from 10 - 100 points. More points, more chances to win but capped at 100 points (10 ETH) to avoid "whales" domination.
- An easier to win lotto (one in 2 to one in 10 chances to win) would be preferable than big jackpots as frequent wins may keep members motivated to play every week.
- Founding members are developers, contributors, designers etc. Then a pre sign up phase for the beta version. All pre-sign ups have a huge advantage as they will be randomly allocated under the founding members and will have other pre-sign ups allocated under them for free. When the network goes live even those on the bottom of the "genesis" network arms (without free unallocated members under them) are still in a great position as there's a whole world out there to be recruited. All founding members are "system recruits" so commissions made from the founding members and their immediate downlines (20/80) go to the following week lotto pool.
- Pre-sign up phase may give founding members the option of inviting friends, family , etc. When the public sign up phase starts, pre-signed up members can choose to use founding members sign up id or go random allocation. This helps in cases that a founding member invited a friend in beta phase and they want to work together on building their "Lotto Shops".
- Traditional lotteries pay out as prizes as little as 50% of all money collected from bets, the other 50% going to govenment, retailers commissions, operating costs and profits. In saying that, the CoinBoomers multi-level rewards commission may be increased to 20% and the system will still pay out 80% as prizes, beating any traditional lottery out there.
- In a later version, the system may be able to sell ad space however all ETH collected from ads will go into the lotto pool.
I've registered the following domain names:
CoinBoomers.com, CoinBoomers.org, CoinBoomers. net, CoinBoomers.info. These domains are all available for the project.
CoinBoomers.org - a new and exciting DApp using the Ethereum technology. We need developers!