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DASH · 1w

Mega Dash Raffle Embarks on New Fundraising Method

Mega Dash Raffle (MDR) has recently been funded by DashBoost for the August cycle to create a platform that will raise money for Dash projects via a raffle/lottery type system.

Dash Force News talked with @jesccs of Mega Dash Raffle to learn more about the new venture, their goals, and motivation.

“Mega Dash Raffle looks [to] support and diversify the fundraising sources for Dash Community projects”.

The low fiat exchange prices of Dash have made “the primary Dash Treasury [become] very competitive and funds are often only available for DCG and DAO flagship projects”. The Mega Dash Raffle team does not want this to stop Dash from “growing and reaching its goals of being the first really digital cash and the most successful DAO in the “crypto sphere””, @jesccs emphasized.

The “MDR core code is developed with a node on the Dash testnet and is live on a server for testing”, @jesccs said, but they are experimenting with different operational structures to see what the community likes best. Currently, users buy ‘raffle tickets’ to enter a specific raffle with a specific beneficiary and of the total Dash collected, 40% goes to a random winner, 50% goes to beneficiary project, and 10% goes to operations. Each raffle has only one beneficiary project, but “a person can register several raffles if he/she has more than one project for fundraising”, @jesccs highlighted. However, they have a survey currently out to collect information to see if the community believes another distribution might work better, along with if a project owner should pay a fee or not to create a raffle.

The team is currently funded with 15 Dash from the August cycle of DashBoost. Overall, they said that DashBoost was “was incredible how the community (that is not MNO) takes its vote very seriously when it comes to supporting a project, which speaks of the maturity that is reaching the Dash ecosystem”.

Mega Dash Raffle aims to help solve market inefficien...

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