“Jackpot” ADA Staking

Jackpot with pool BBO

The “Jackpot” account was created to provide a chance for large rewards for accounts that delegate to BBO. It is important to balance the benefits for accounts that have supported us from the beginning, while also making the event attractive enough for new accounts to participate, as well as our partners.

ADA accumulated in the Jackpot account is added by BBO (100 ADA added each epoch), and the reward is paid to the winning staking account at BBO.

Winning Conditions

The winning conditions are based on a random number and are applied each epoch. We believe that it is better for the condition to be on-chain or based on stored on-chain data. This data should be impossible (or very difficult) to predict, and even if it can be accessed, participants should not be able to “front-run” it.

Therefore, we use the hash of the first block in each epoch to determine the “Jackpot” condition:

• The last two characters of the block hash are compared with the last two characters of all stake addresses (bech32 format) that are delegating to BBO at the time of the snapshot in that epoch. If they match, the pot is smashed.

Notes for Winning Accounts:

• If there are more than two stake addresses with the same last two characters in the winning pool, the reward will be divided equally among the matching accounts. According to calculations, the probability of winning for each account is approximately 1:1296.
• The amount of ADA each winning account receives depends on the following three cases and is calculated using the formula below:

• y: Total epochs from the start of the event to the epoch when the pot is smashed
• x: Total epochs staked by the winning account
• m*: Other assets added to the account, such as tokens, additional ADA donations, etc.
• i: The number of times the pot has been smashed
• ti : Total assets at the time of the pot smash, calculated as ti = y100 +m – Boom
• Boom*: The amount of ADA received when the account wins the pot.

We have also designed a feature on the Telegram bot to notify the groups and added some statistics using Google Spreadsheet to provide convenience and transparency for the event.

The address of the “Jackpot” account is here:

Good luck and thank you for supporting BBO!