RAFL is an online market with a new concept that combines both commerce and lottery: Raffling.
A raffle is a gambling competition in which people obtain numbered tickets, each ticket having the chance of winning a prize. Once all tickets are purchased, one is randomly drawn. If the participants’ ticket is selected from the random draw the participant wins the prize.
RAFL is a platform that allows users to host or participate in online raffles entirely using smart contracts on the ethereum blockchain.   
 
Anyone can create raffles, be it for good cause, personal gain or commercial promotion. It is fun, exciting and safe.
Raffles are already popular but suffer from a lack of transparency.
With the innovation of the Ethereum protocol, RAFL can provide a service to protect users from fraud.
This creates a completely transparent and provably fair raffle which is safe for all consumers. 
How it works.
Choose your selling price and the number of tickets. When all tickets are purchased, one is chosen at random.
The seller can list products at a higher price than current e-commerce platforms and auction sites, and at the same time users can try their luck to acquire goods for a fraction of their retail price.
Users can also buy multiple tickets to increase their chances of winning.
 
E.g.: A luxury watch worth $5000 sells 250 tickets at $20 each The raffle winner gets a watch with a value of $5000 for $20. The platform keeps 1% ($50) The seller keeps 99% ($4950)
A vendor that wants to raise a fixed amount for their item is open to currency fluctuation.
This may occur in the price of Ether between the time that they initially listed the items and the point where they are paid out for the ticket sales.
On the RAFL platform, at the point a customer buys a raffle ticket, the ETH used to purchase the ticket will be converted into [tokenised] dollars .
Upon successful completion of the raffle the total ticket sales will be converted back into ETH and paid to the vendor.
The RAFL token sale is currently ongoing and ends on 9 am December 6, 2017.
The token holder will receive 100% of RAFL’s profits and it will be possible to trade.
Part of the RFL token provides the right to determine the direction of the RAFL project.
The token holder can decide on each proposal. The number of tokens held at that time is the voting power (proportional) of that decision.
The beauty of RAFL is we are only exposed to profits unlike other gambling platforms who can possibly make a loss.

RAFL: ALPHA 

RAFL: alpha 1.0 is on schedule to be released March/April 2018

RAFL’s code will be subject to review and testing, and will be available to the public in January 2018.

We have been developing the RAFL platform for over a year and can finally unveil a preview of the ALPHA platform. 
When we started development we kept in mind that simplicity was the main criteria that we had to address.

RAFL alpha 1.0 will be restricted to only support cash raffles and can only be held by RFL token holders.
The size of the cash raffles will be determined by the amount of RFL tokens the user holds. 
The maximum size of the cash raffles token holders will be able to host is set out as follows: 1 ETH per 2000 RFL.
For example: 20000 RFL = 10 ETH cash raffle

Softcap: 19,000 ETH
Hardcap: 39,000 ETH
Total supply: 100,000,000 RFL
1 ETH = 2000 RFL
A 25% bonus is applied for the first 10,000,000 RFL tokens.

All remaining tokens after ICO are burned.
RAFL alpha 1.0 will be restricted to only support cash raffles and can only be held by RFL token holders.
The size of the cash raffles will be determined by the amount of RFL tokens the user holds.
The maximum size of the cash raffles token holders will be able to host is set out as follows: 1 ETH per 2000 RFL.
For example: 20000 RFL = 10 ETH cash raffle

RFL Token
Governance
Dividends.

100% of RAFL’s profits will be paid in ETH to token holders
The token is also used to make decisions on proposals
The token is not for payments within the network

Roadmap

  • Research
  • Release of white paper
  • Crowdsale
  • Recruitment
  • Interface and contract development
  • RAFL interface alpha release
  • Marketing activities
  • RAFL interface beta release
  • First governance event
  • First dividend
  • Stablecoins such as Dai from MakerDAO and DGX from DigixDAO
  • Speed improvements from Raiden
  • uPort for verification and seller reputation

Executive Team

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Shaun Ikeda
MSc Computer Science. Has experience as a full stack developer at a major e-commerce firm.
Founder & CEO
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Charlie Godwin
MSc Mathematics. Has experience with a number of programming languages.
Co-founder
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Zaq Qureshi
BEng Mechanical Engineering. A highly experienced digital marketing expert.
Sales & Marketing

Press

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