The Prize Pool
2.1 Earn Play Tokens & Draw Tickets in the App
To get started, firstly download the PlayBlock Network mobile app on App App Store or Google Play. You can earn Play tokens (details related to Play tokens can be found in section 4) and draw tickets for entering the daily lottery of our prize pool.
Every 2 minutes Players can click “Draw Tickets” on your app’s home screen. Tickets will be distributed to Players by random factors. Players may get anywhere from 0 to 3 tickets upon each drawing. You’ll need at least 1 ticket to enter the lottery and 1 ticket means 1 single chance to win the prize pool. In addition to drawing tickets, there is a chance that you may draw a double up reward or triple up reward, which means you will earn 200% or 300% of the original prize money if you have won in the next game.
2.2 The Lottery
There is a prize pool to be distributed to lottery winners every day, the amount of prize pools depends on various factors including PlayBlock Network’s active users.
Players can use anywhere from 1 ticket to a maximum of 20 ticket tickets upon each daily participation of the lottery. Each ticket allows Players to choose a 3-digit number from 000 to 999. Every day system will draw a 3-digit lucky number, and the daily prize pool will be split between Players who have chosen that lucky number by their ticket.
2.3 You Win 10% If They Win
We encourage and reward Players to contribute to the build-up of the PlayBlock Network community. When you have referred new Players to join your team, when your referees have won the daily lottery, you as their referrer will also be rewarded 10% of their lottery winnings without splitting your referee’s shares. This extra 10% bonus will only be granted when both you and your corresponding referees are both in active earning mode when the lottery result is announced.
2.4 Lottery Award Withdrawal (U+ to Coins or Play)
Once Players have won lottery winnings, the corresponding US Dollars denominated in U+(PlayBlock’s stable coin) will be stored in their PlayBlock wallet. There are 2 ways to withdraw the earned U+.
1. Convert to Other Coins
Every 7 days you can click the “withdraw” button shown on your app’s wallet page. You can choose to convert your U+ balance into mainstream cryptos like LTC, DOGE and BTC to your crypto wallet or convert to USD via Paypal and cash out immediately. The withdrawal thresholds are as follows:
LTC has a withdrawal threshold of 1 USD equivalent of coins and no transaction fees are required
DOGE has a withdrawal threshold of 2 USD equivalent of coins, with a transaction fee of 0.5 USD equivalent of coins
BTC has a withdrawal threshold of 5 USD equivalent of coins, with a transaction fee of 2 USD equivalent of coins.
2. Convert to Play Token and Store in PlayBlock Wallet
You can also choose to convert your U+ balance to Play tokens and store in PlayBlock wallet too. You can even choose to stake your Play tokens with us and earn extra return. Details will be discussed in section 4.