Gelotto, launching in August 2022, will feature lottery games for various IBC crypto assets, with other games (slots, blackjack, etc.) planned after the initial launch. Gelotto’s native token, GLTO, will be distributed by airdrop, now expected to be claimable on July 21, 2022 at approximately 19:00 UTC. (The original claim date was July 20, but the development team is investigating issues successfully claiming the airdrop with Ledger wallets.)
GLTO will be airdropped to ATOM, JUNO, OSMO, SCRT, and STARS stakers and NETA holders. Visit the following link to determine your eligibility for the airdrop: Gelotto (GLTO) Airdrop Checker
Airdrop qualifications may be checked by connecting a Keplr wallet at the above webpage, or optionally, individuals may enter their JUNO and SCRT wallet addresses manually to check whether they qualify. (SCRT addresses must be entered separately due to a different manner in which SCRT wallet addresses are derived – see the “Special Procedure for Secret (SCRT)” section below.)
Claiming the Airdrop
On July 21, 2022 at approximately 19:00 UTC (moved forward from July 20), the GLTO airdrop will be able to be claimed at the same website listed above.
The claiming process is expected to be relatively simple: Click a button to claim the portions of the airdrop for which a wallet address qualifies, and the corresponding number of GLTO tokens will be transferred to the JUNO address for that wallet.
Note: The transfer of tokens does not account for partial tokens, so airdrop qualifiers will receive the indicated airdrop amount, rounded up to the nearest integer.
Also note: A separate procedure will be used for claiming the portion of the airdrop related to the SCRT token due to the different manner in which SCRT wallet addresses are derived – see the “Special Procedure for Secret (SCRT)” section below.
Special Procedure for Secret (SCRT)
Providing a portion of the airdropped token to SCRT stakers will require a special claiming process.
The manner in which SCRT wallet addresses are derived differs somewhat from the process in which wallet addresses are derived for the other IBC assets included in the airdrop. For example, using a JUNO address for a particular individual, the ATOM, OSMO, and STARS addresses in that individual’s Keplr wallet may be determined using a derivation tool. This enables the airdrop qualifications for those portions of the airdrop to be determined using only the JUNO address for that wallet, and for GLTO tokens for each of the ATOM, OSMO, STARS, and JUNO portions of the airdrop to be seamlessly transferred to the individual’s JUNO wallet address.
However, because SCRT wallet addresses are derived differently, an individual’s JUNO address and SCRT address will not map to one another. This results in improved privacy for holders of the SCRT token, but necessitates a special process to determine the appropriate JUNO wallet address to receive GTLO tokens when a SCRT address qualifies for the SCRT portion of the airdrop.
This process may involve SCRT holders initiating a small SCRT transaction, or manually providing their JUNO address when claiming the SCRT portion of the airdrop. (As a result, claiming of the SCRT portion of the airdrop may be slightly delayed relative to the other portions of the airdrop.)
After the Airdrop – Where to get GLTO:
Participation on the Gelotto Platform
The Gelotto platform is expected to be launched on testnet by mid-August 2022, and available for public use by the end of August 2022. Initially, the Gelotto platform will offer lottery games for GLTO, as well as other IBC assets such as ATOM, JUNO, OSMO, SCRT, and STARS.
Some lotteries may be relatively small and recur on a short timeframe, such as hourly, while larger lotteries may run daily or weekly.
During the initial phase of the Gelotto platform, GLTO will be added to many of the prize pools to incentivize participation. Individuals may acquire GLTO through participation in various lottery games. (A portion of the GLTO supply has been set aside for use as incentives for games on the platform. See the following link to the Gelotto Whitepaper: Gelotto Whitepaper)
Liquidity Pools on Osmosis Lab and Junoswap
These liquidity pools will offer additional GLTO incentives to liquidity providers to ensure sufficient liquidity for the GLTO token. (A portion of the GLTO supply has been set aside for use as liquidity pool incentives. See the link to the Gelotto Whitepaper above.)
After the launch of the Gelotto platform, future expansions are intended for additional games (slots and blackjack expected by August 2023).
At that time, the ability to stake GLTO tokens to act as “the house” in games of blackjack will be offered, enabling investors to earn (or sometimes lose) variable amounts of rewards over time. (The odds are in favor of the house, so over time, staking in this manner is statistically expected to generate yields, similar to traditional staking, but with variable amounts due to the gambling nature of the Gelotto platform.)
Gelotto also intends to offer weekly “mega jackpots”, for which tickets may be earned by participating in various combinations of regular lottery games throughout the week, such as by completing weekly participation “missions”.
Additionally Gelotto plans to offer an annual Grand Prize event (first grand prize event expected August 2023), in which holders of significant amounts of GLTO tokens will be provided with secondary assets that may be used to unlock lucrative prizes worth up to 50,000 USD, with an intended grand prize of 10-100 Bitcoin. (See the following link: Gelotto Grand Prize Games)
The developers of Gelotto are extremely excited that the airdrop date is finally almost here, and the platform is so close to completion.
The airdrop process is expected to go fairly smoothly, but please do not hesitate to contact the developers if something appears to be functioning incorrectly.
• Reddit: r/Gelotto
• Gelotto blog: Gelotto Blog
• Discord: Gelotto Discord
• Twitter: @Gelotto2
• Whitepaper: Gelotto Whitepaper
• Gelotto website (under development): https://gelotto.io/
• Airdrop checker: Airdrop Checker