# Raffle Event

## 1. What is a Raffle Event?

League Of Ancients Raffle Event is a lottery-based structure in which participants obtain raffle tickets from staking $LOA Tokens in the NFT Marketplace during the event period.

Each raffle ticket is marked uniquely to the wallet address that staked the $LOA Token respectively. 

## 2. What rewards are available?

Participants have a chance to win [**LOA Capsules**](https://league-of-ancients-v2.gitbook.io/whitepaper/game-fi-marketplace/pages/939kBWJ2smsknvZYhSUn#1.-loa-capsule) from the Raffle Event. 

Chances to obtain each category of NFT Skin can be referred [**here**](https://league-of-ancients-v2.gitbook.io/whitepaper/game-fi-marketplace/pages/939kBWJ2smsknvZYhSUn#1.-loa-capsule).

![](/files/FvppXztN0jn0Dx3L1DrO)

## 3. How do I participate?

To register for the Raffle Event, users are required to deposit a certain amount of $LOA Tokens into the Raffle Pool in the NFT Marketplace.

Participants will be chosen at random to win LOA capsules. However those who did not win the Raffle Event, will be **refunded their $LOA tokens** respectively. 

### Raffle Entry & Structure

<table><thead><tr><th width="192.63206678729">BUSD Amount (worth of $LOA Tokens)</th><th width="208.44565080146145">Price per ticket (in BUSD)</th><th width="161" align="center">No. of Tickets</th><th align="center">LOA Capsules Airdropped</th></tr></thead><tbody><tr><td>≤ 150,000 </td><td>$30 BUSD worth of $LOA Tokens</td><td align="center">First 5,000</td><td align="center">100</td></tr><tr><td>≤ 320,000</td><td>$34 BUSD worth of $LOA Tokens</td><td align="center">5,001 - 10,000</td><td align="center">200</td></tr><tr><td>≤ 520,000</td><td>$40 BUSD worth of $LOA Tokens</td><td align="center">10,001 - 15,000</td><td align="center">300</td></tr><tr><td>≤ 1,000,000</td><td>$48 BUSD worth of $LOA Tokens</td><td align="center">15,001 - 25,000</td><td align="center">400</td></tr><tr><td>＞1,000,000</td><td>$60 BUSD worth of $LOA Tokens</td><td align="center">From 25,001 onwards</td><td align="center">500</td></tr></tbody></table>

***Note: The table figures above varies depending on each Raffle event.***

## 4. How to Earn?

These capsules can be **sold** in the NFT Marketplace directly or **vested** in the "Capsule" page for 60 days to convert it to an "**Unlocked LOA Capsule**", which can be unlocked to obtain a NFT Skin of [**different rarities**](/whitepaper/nft-skin/rarity-level.md). The higher the rarity of the NFT Skin, the higher the value in the NFT Marketplace.

{% hint style="info" %}
The price of LOA Capsules and NFT Skins sold in the NFT Marketplace varies depending on the market.
{% endhint %}

Alternatively, these NFT Skins have various earning utilities in the **NFT Marketplace** such as [**staking**](/whitepaper/nft-skin/staking.md), [**fusion**](/whitepaper/nft-skin/fusion.md) and [**set bonus**](/whitepaper/nft-skin/set-bonus.md#nft-marketplace) as well as **in-game** earning utilities such as higher earning potential for [**$ASL**](/whitepaper/gameplay/ancient-souls-usdasl.md).

## 5. Raffle Rules

1. LOA Capsule is a ERC-1155 standard NFT.
2. There is no limit on the number of wallets that can participate and each wallet can purchase any amount of raffle tickets (minimum 1). &#x20;
3. Each wallet can win more than 1 LOA Capsule, depending on how many raffle tickets owned by that specific wallet are selected as a winner.
4. LOA Capsule raffle price starts from $30 BUSD worth of $LOA Tokens for the first 5,000 raffle entries.
5. As the raffle entries increases, the price of the raffle entries increases according to [**table** ](#raffle-entry-and-structure)above.
6. During participation, your $LOA Tokens will be staked/frozen. At the end of the Raffle if you did not get a LOA Capsule, you can redeem the $LOA Tokens you staked.
7. At the end of the raffle period, random raffle numbers will be drawn to identify the winners for the LOA Capsules.
8. The amount of $LOA Tokens staking requirements may change at a later time if deemed necessary by the team.
9. The amount of $LOA Tokens per raffle ticket is subjected to change per Raffle event.
10. All $LOA Tokens used to win the LOA Capsules will be sent to the Treasury Pool.
11. Using Smart Contracts for the raffle is strictly prohibited.
12. Governance will have the voting power to change the Raffle Event rules in the future.
13. Unclaimed LOA Capsules will be available for claim within 30 days. After this period, it will be forfeited and tokens will be returned to the respective winner’s wallet.

{% hint style="info" %}
$LOA Tokens staked for Raffle Event participation will not be consumed if the raffle fails, all $LOA Tokens will be returned to your wallet.
{% endhint %}


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