LONDON, Dec. 15, 2021 /PRNewswire/ -- On 9 December, Madagascar Time Limited, an uprising start-up project, released its sister token TLT (Times Lottery Takeover). This unprecedented and incredibly efficient lottery system uses blockchain technology which creates transparency so that everyone can publicly see the rewards sent fairly. Backed by an international team, Madagascar Time focuses on charity work by combining social entrepreneurial skills with innovative 'blockchain' technology to change things for generations to come.
TLT is a unique function meant to revolutionise the concept of dividends of what crypto enthusiasts call reflections. If say a cryptocurrency had 10,000 holders any percentage of reflections distributed to all holders becomes irrelevant due to the vast numbers of holders. To address this issue Madagascar Time has created a 3% random dividend lotto which means 3% of the total volume of buys/sells of the token accumulates into one wallet called the pot. Every hour a holder is rewarded a percentage of tokens in the pot which is determined randomly by a bot and is between 15-50% so that the pot never drains.
TLT will also consist of weekly draws for different tiers which are determined by how much TLT you own. The chances of winning will remain the same for each tier however the rewards will differ. These draws will be live broadcasted and consist of the following:
- Tier 1 (Entry Level: 100$ - 600$) can win from 1% - 10%
- Tier 2 (Standard Level: 600$ - 3,000$) can win from 5% - 20%
- Tier 3 (Whale Club: + 3,000$) can win from 10-25%
- Last Draw 1% of all 3 pools will go to a lucky $TIME holder
Each tier has a pool of its own, 6% prize tax from each buy/sell goes into 3 different prize pools for each tier:
- Tier 1 - 1%
- Tier 2 - 2%
- Tier 3 - 3%
There will also be a Monthly Draw for both TLT and TIME holders for a massive 15% of the 3 pools all together and finally a yearly jackpot draw prize of a space flight with Virgin Galactic/Blue Origins (once available and prize conditions met).
Ryan Bishop, cofounder and Chief Marketing Officer, commented: "it's about $TIME an organization started changing lottery systems for the benefit of participants while doing charity. Together we can buy $TIME for the planet and future generations."
To date, Madagascar Time has donated over $75,000 to several charitable causes dealing with issues such as quality of life, poverty, endangered species, education and tree planting. For example, a partnership has been formed with Madagascar Seed and through Mr. Beasts Team Tree Project have helped to plant 41,000 trees. Further details can be found at www.madagascar-time.com.
The project grows exponentially in numbers each month helping create an endless movement towards a better environment, as more and more crypto enthusiasts and environmentalists find out about it. As part of this Madagascar time is opening a fully licensed casino in December/January called timetobet casino.
Madagascar Time has also just welcomed a number of new starters to the team such as Terry Travers, Katie Richardson and Samet Demir who comes from a highly skilled scientific background and has won awards for his computational and chemistry works.
Established in August 2021, Madagascar Time Limited is a legal company operating in UK. Cofounders Raymond Mullens, Armand Iancu, Ryan Bishop, and Corey Blanchette are equal shareholders. The team is supported by a network of dedicated volunteers and interns from around the world, all of whom are equally passionate about the mission to use crypto for positive change.
The name "Madagascar" and the lemur logo were chosen to reflect the founders' ethos of environmental awareness. The island country is one of the most climate-vulnerable nations in the world and its lemur population is currently in decline. The team chose "$TIME" as the name of its cryptocurrency to underscore the immediate need for action to save our planet and safeguard the lives of future generations.