Beracana
  • Overview
    • About Beracana
    • Why Lend on Beracana
    • Why Borrow/Leverage on Beracana
    • CANA Token
    • How Beracana Works
      • Lending/Supplying
      • Borrowing/Leveraging
      • Strategy
      • Health Factor
      • Liquidation
  • Guide
    • Getting Started
    • Lending/Deposit Assets to Receive canaHONEY
    • Withdrawing Lent Assets
    • Opening a Position
    • Closing a Position
    • View Your Position
    • Rewards
    • Interest Rate Model / Utilization
    • Add/Remove Extra Collateral
    • Liquidated Positions
  • FAQs
    • Frequently Asked Questions
  • Double Chance Lotteries
    • Introduction
    • Overview
      • Primary Lottery Mechanics
      • Second Chance Lottery Mechanics
    • Security and Decentralization
    • Conclusion
  • Contract Addresses
    • Addresses
  • Tokenomics
    • Introduction
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  • Participation:
  • Winner Selection and Settlement:
  • Rewards Distribution:
  1. Double Chance Lotteries
  2. Overview

Second Chance Lottery Mechanics

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Last updated 7 months ago

Participation:

  • Entry Requirements: Users must possess loserUSDC tokens minted from a previous primary lottery.

  • Token Burning: Upon entry, the loserUSDC tokens are burned, ensuring they cannot be reused.

  • Lottery Entry: Users enter the Second Chance Lottery by burning their loserUSDC tokens.

Winner Selection and Settlement:

  • Process: The Second Chance Lottery operates similarly to the Primary Lottery, utilizing the ChainLink VRF to select winners.

  • Settlement: As with the Primary Lottery, the Second Chance Lottery is settled automatically by a bot or manually.

Rewards Distribution:

  • Winners: Winners of the Second Chance Lottery are awarded NFTs or tokens from participating projects within the Berachain ecosystem.

  • No Additional Minting: Winners are not minted any new tokens; the reward is purely in the form of NFTs or tokens.