Create a lottery auction
2. Click create auction button and the selection window pops up:
3. Select lottery pool and click confirm to go to the create a lottery pool page
4. The pool settings page consists of two sections.
In the first section, only the token contract address is needed.
- Token contract address: find the token contract address on https://etherscan.io/
- Token symbol and token decimals will be auto-filled after entering the token contract address.
The second section asks for the following parameters:
- From: is auto filled after entering the contract address
- To: the currency to receive for the auctioned assets. On the Ethereum network the options are ETH and USDT. On Binance Smart Chain the options are BNB and USDT.
- Lottery tickets: the amount of tokens you want to allocate per winning ticket.
- Ticket price: the price of a ticket (this is not the price of one token). If you put 5 tokens per ticket, then a ticket is worth 5x the token price.
- Number of winners: the number of winning tickets from the draw.
- Max participants allowed: the maximum number of participants you want to allow in the draw.
5. Customize the lottery auction pool:
- Pool name: for participants to identify the pool on the Bounce homepage
- Lottery running time: the time that the pool will be available
6. Once all parameters are entered, click the launch button and approve the transaction in Metamask (or whichever wallet used). Two transactions are needed to launch the pool:
- Approve spending limit:
- Approve Contract interaction:
If a transaction error with very high gas fee (usually over 200 USD), appears please do not proceed and go back to the parameter page to check if everything is entered correctly.