PROVIDENCE, Seychelles--(BUSINESS WIRE)--MOS Lottery, a decentralized stock market lottery platform using blockchain smart contracts, announces its Pre-Initial Coin Offering (ICO) to interested investors today.
MOS Lottery provides a new way for lottery players, stock market enthusiasts and other casino players to bet on closing stock prices online using a decentralized Ethereum blockchain to ensure fair and transparent gaming.
The MOS blockchain lottery draws the winning numbers from stock market indexes like NYSE, NASDAQ and FTSE.
Unlike centralized lottery systems regulated by governments, MOS Lottery is built on Ethereum smart contracts, essentially removing fraud and interference. MOS Lottery’s smart contract ensures that the entire process, from number purchasing/betting to winner drawing to payout, is completely transparent through the ledger of transactions.
MOS Lottery tokens, called “MOS Tokens,” will be issued during private, pre-ICO and ICO sales. Private sales began on February 1st and have raised more than $1.3 million dollars toward a maximum of $55 million.
Tokens will be distributed to raise funds for the jackpot pools and prize awards for people who play the MOS Lottery.
“As the MOS lottery expands its user base globally, it continually builds a layer of trust among players, with every transaction verified by the blockchain,” said Alexander Mittler, MOS Lottery CEO. “MOS Lottery is a perfect use of blockchain for the everyday person and solves player skepticism and concerns about fraud in the current lottery systems,” he added.
Once MOS Lottery is launched, players will be able to purchase lottery ticket(s) using MOS Tokens or Ether. Prior to accepting the bet, MOS Lottery checks whether it has sufficient funds to pay the winning amount. Once accepted, each player is admitted into the lottery session. Twenty minutes before the stock market closes, the player’s transactions will be posted to the Ethereum blockchain. Once the market closes, the MOS Lottery smart contract will draw the winning number based on the closing index provided by live market APIs. If the players’ numbers match the closing index, the smart contract will automatically credit the winning amount to the winners’ wallet.
MOS Lottery tokens are available for purchase by interested investors beginning April 1st, 2018, and lasting until May 31st, 2018. MOS will offer total of 5.5 billion tokens to the public with 1 billion to be issued during pre-ICO and 3.5 billion to be issued during the ICO on the Ethereum blockchain. During pre-ICO, token price starts at USD 0.01 with up to 20% bonus. Join the whitelist and get additional 10% on top of pre-ICO bonus.
During the ICO, the price for MOS Tokens starts from USD 0.017 and the price increases will be based on the total number of tokens issued.
MOS Lottery is more than a concept and has already developed the Minimum Viable Product (MVP) for MOS Lottery. The beta version of the product will be made available during pre-ICO for community testing and feedback. Funds raised will go toward growing the pool of jackpot funds and accelerating the platform rollout to the global market. By May, the company expects to be listed on major cryptocurrency exchange platforms and plans to launch the live lottery with a minimum jackpot pool of $5 million USD. Upon the completion of the ICO, funds will be used to support its jackpot, continuous improvement of the product capabilities and security, new game launching and other sales and marketing activities. Read the roadmap here.
About MOS Lottery
MOS Lottery is a decentralized, blockchain-based online lottery platform that picks winning numbers from the closing statistics at NASDAQ, the Dow Jones, and other stock exchanges. Unlike the centralized lottery systems regulated by governments, MOS Lottery is built upon Ethereum smart contracts, essentially removing all elements of fraudulent activity and interference. For more information, including country restrictions, please visit: www.moscoin.io
This announcement is for informational purposes only and does not constitute an offer of any security, product or service of MOS Network Ltd or solicitation of an investment. Any offer will be made pursuant to designated offering materials solely to non-U.S. and South Korea citizens, and who understand and are willing to assume the risks involved in an ICO token purchase. Please read the MOS Token Purchase Agreement here before deciding on participation.
Certain statements in this announcement constitute forward-looking statements under applicable securities laws. Except for statements of historical fact, information contained herein constitutes forward-looking statements. Forward-looking statements can also be identified by words such as “can,” “expect,” “will” and other identifiers of non-historical events. Forward-looking statements are not guarantees of future performance, and undue reliance should not be placed on them. Although these forward-looking statements are based upon what are believed to be reasonable assumptions, they necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. MOS Network undertakes no obligation to update forward-looking statements for any reason, except as required by applicable securities laws.
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