The Terra Rebels have launched a DApp on the Terra Classic network.
In a tweet today, the Terra Rebels announced that it had launched a lottery game on the Terra Classic network.
Terra Rebels announces that our first layer 2 application is ready for launch. You can navigate our website and participate here: https://t.co/OJSShSYp6l
Cost: 5,000 lunc per ticket ?️
Duration per round: 7 Days ?️There is a full description on our discord. pic.twitter.com/dsliWF5HQ6
— Terra Rebels (@TerraRebels) October 28, 2022
It is notably the first decentralized application (DApp) that the Terra Rebels are launching on the Terra Classic network. To participate in the lottery, users must find the DApp through the Terra Rebels website, where they will be required to connect their Terra Luna Classic (LUNC) wallet.
Per the details on Twitter, one lottery ticket costs only 5000 LUNC (approximately $1.25 at current rates). Notably, the game will select a winner at the end of each round which spans seven days.
The full description of the DApp on the Terra Rebels discord reveals that the winner will be entitled to 60% of the pool. The remaining 40% will be shared as follows:
- 26% to the burn wallet
- 6% to the builders of the DApp
- 7% to the Rebels
- 1% to be held in contract reserve
One user hailed the achievement as a significant feat, noting that an entire project built with a lottery game as its focus spent months in development and still struggles to operate optimally. However, he asserted that the game created by the Rebels works flawlessly.
Meanwhile, the reviews were not always positive. For example, a user claimed the DApp was not functional, with another adding that it seemed not to work for Android devices.
It is worth mentioning that the Terra Rebels have made no such distinction.
The new game presents an exciting opportunity for the community to reduce the LUNC supply while still offering utility. As reported previously by The Crypto Basic, developers had shown interest in finding more effective ways to burn LUNC, as the on-chain tax is not enough.
It bears mentioning that buying the ticket is an on-chain transaction that would also be subject to the 0.2% tax leading to even more significant burns in addition to the 26% of the pool.
As recently reported by The Crypto Basic, the community should expect a DEX soon. However, developers want to work towards re-opening Inter Blockchain Communication channels first.
The LUNC community and its developers continue to work towards revitalizing the chain and shaking off the ghost chain tag. The DApp from the Terra Rebels represents a significant step toward utility.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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