A Provably Fair Contest

Beaxy, a U.S. based exchange, and Dragonchain, a U.S. based blockchain company, have collaborated to establish crypto’s first Provably Fair Contest.

The Dragonchain platform features on-chain proof of fairness, enabling the contest’s results and processes to be audited, publicly reviewed, and confirmed. The system combines future hashes of a predefined block height on all current Dragonchain Interchains (i.e. Bitcoin, Ethereum, Ethereum Classic, and Binance Chain) providing provable randomness to the selection. It is not possible to know the hash of a block height for a single blockchain, much less all four combined prior to the block being created, thus making it impossible to profitably cheat the system.

Participants will be eligible to enter the contest starting on June 6th. One winner will be selected every Saturday until the contest’s final drawing on the 4th of July, 2020.

With 97,434 DRGN tokens up for grabs, the Provably Fair Contest will payout nearly $10,000 worth of rewards to Beaxy Exchange users that hold at least 1,000 DRGN on the exchange.

With a focus on the 4th of July, this contest offers a grand prize that is thematic of America’s inception. The thirteen original colonies claimed their independence from England on July 4th, 1776. This year’s celebration marks 89,119 days from the declaration. Therefore, on the 4th of July, 2020, one lucky winner will receive 89,119 DRGN tokens!

Full payment schedule:

June 6th — The contest beings and participants can gain eligibility.

June 13th — One winner will receive 1,425 DRGN.

June 20th — One winner will receive 2,744 DRGN.

June 27th — One winner will receive 4,146 DRGN.

July 4th — One winner will receive the grand prize of 89,119 DRGN!

Participation eligibility:

• Participants must be 18 years or older and compliant with local laws and regulations.
• Participants must hold a minimum of 1,000 DRGN on Beaxy throughout the duration of each weekly contest. DRGN tokens can be purchased on Beaxy here.
• Participants must not reside in a country listed on the US Dept of Treasury Office of Foreign Assets Control Consolidated Sanctions List. https://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/consolidated.aspx
• Dragonchain and Beaxy Exchange employees and contractors, as well as immediate family, are not eligible to participate.

For additional information on privacy, disputes, limitations of liability, general conditions and releases see the Dragonchain Terms of Service at https://dragonchain.com/terms/

A Provably Fair Contest was originally published in Beaxy Exchange on Medium, where people are continuing the conversation by highlighting and responding to this story.