Boosting Babelfish: Marketing Strategies and Future Sustainability

[Buble_boy]

I am one of the early holders of Babelfish, having purchased it during the presale. Since the purchase price during presale, the value has dropped by more than 10 times. However, I believe in the project and its implementation, so I have acquired more Babelfish.

My question is about future marketing strategies. Will there be enough funds from network commissions to implement an extensive campaign in the future? If so, I suggest discussing how the project will develop, in which we are all interested.

[Buble_boy]

I’m also duplicating what I answered in the other discussion, because it applies here too.
I believe that it is urgent to not only deploy staking, but also a platform for hosting integrated NFTs (which can be integrated from other platforms) and, as in the “prediction (beta)” section on Cake. We need to urgently increase activity on the project and drive people in.

We need urgent actions that will contribute to the implementation and recognition of the project!! Otherwise, we will forever be stuck at the bottom of the CoinMarketCap list!

We need to organize some competitions and events.

We need to move forward!

Staking is the first step!

[Hyde]

Thank you for sharing your thoughts and concerns regarding BabelFish’s future marketing strategies. It’s great to see that you believe in the project and its implementation despite the drop in value.

Regarding your question about marketing strategies and funds from “network commissions”, it’s important to note that BabelFish still has funds that could be used for marketing. However, it may be premature to launch an extensive marketing campaign at this stage, as it could drain our resources. We need to be strategic with our resources and make sure that we’re utilizing them in the most effective way possible. We don’t want to shoot our bullets too early.

In terms of generating income, BabelFish is working on Balancing Curves which would generate income. Big part of this income should be used (IMO) for incentives for balancing stablecoin basket allocations, another part could be used for rewarding BabelFish stakers, and antoher for building a BTC insurance fund. Additionally, a portion of the income generated could be used for exlusively marketing purposes. It will ultimately be up to the BabelFish community. When the time is right, we will hold a vote to determine the best course of action.

However, I believe that rewarding our stakers would be the most effective marketing strategy as it would draw attention and encourage new people to join the protocol.

As for the other issue raised, I will just copy my answer from the other thread.

@Hyde

Maybe I didn’t understood it properly. I’m not sure why BabelFish should be involved in this. Our primary focus is on stablecoins, not NFTs. Pursuing this idea would require significant resources and distract us from our current goals. While the idea has potential, I don’t think it aligns with our core objectives. It’s important to remain focused on what we’re building and what we hope to achieve.

[Buble_boy]

Regarding focusing on the main goal, I completely agree with you. Perhaps I wrote the previous text too emotionally, nevertheless, I would like you to work on the issues of future invents for the Babelfish community - these can be not only airdrops for small amounts that will be distributed for certain actions (as someone who is working on the development of the system and functionality, you surely understand what things in the project require additional verification - by means of such a micro-airdrop, you minimize the risks of the network’s future inability to accept and process a large number of transactions, for example). In order for future marketing programs, which will be large and quite extensive, to have a higher efficiency coefficient, it is necessary to develop a foundation for the future confidence of the next users in the project right now - I mean that when a large-scale advertising campaign is launched, the project already had such factors confirming reliability as Twitter with a large number of subscribers, audience activity, and support from some public figures who also have their own audience.

Also, I want to note that the project is almost a year old, but it has not been listed on any even small exchanges yet.

Thus, I want to note at least TWO steps that are needed:

1. Increase activity on social networks. Attracting the most diverse - contests like airdrop for repost or performing any actions - for example, you can join forces with SOV and other platforms, we can all be one big team! We need hashtags, we need associations, we need activity. A primitive example: follow us, follow three more Twitter accounts and participate in a $10 XUSD giveaway.
2. Increase activity - adding Babelfish to exchanges - this is additional liquidity and audience.

[Hyde]

Since BabelFish’s incubation by Sovryn, we have been working closely together and have received a lot of support from the Sovryn team. I do belive that it will be continued as this is in favor of both parties.

While I do agree that marketing is important, I think at this stage, our focus should be more on XUSD than on the FISH token. Coordination and timing are key to effective marketing, and with the current bear market, our priority is to continue building and preparing for the future.

There are several exciting developments on the horizon, such as the implementation of balancing curves, staking rewards, and multichain integration. However, I believe it’s important that we take care of our current stakers first before we focus on marketing around the FISH token. We don’t want to make empty promises or overhype our token. We need to reward those who are with us from the beginning, before reaching out to others. I might be wrong here - this is only my personal opinion. Ultimately it will be decided by FISH stakers, Regarding staking rewards, once the balancing curves are implemented, we can discuss how best to approach this. It’s important to see how the balancing curves function and how they effect they have before we make any further decisions.

@Buble_boy

Increase activity on social networks. Attracting the most diverse - contests like airdrop for repost or performing any actions - for example, you can join forces with SOV and other platforms, we can all be one big team! We need hashtags, we need associations, we need activity. A primitive example: follow us, follow three more Twitter accounts and participate in a $10 XUSD giveaway.

Any engagement from the community is always welcome. Organic interactions and genuine, natural engagement, like the one from Art of Thomas, are great ways to spread the word about BabelFish. Our users have to understand that this is also in their favor. Maybe we need to do more to encourage people to help with sharing our message. Some additional incentives might be also good idea. Actually we are also exploring ways to provide additional incentives for users and properly monitor their engagement. However, we need to be cautious not to get distracted from our current priorities by focusing on too many things at once.

@Buble_boy

Increase activity - adding Babelfish to exchanges - this is additional liquidity and audience.

In terms of listing FISH on exchanges, I think it would be wise to wait until the timing is right. Listing on exchanges is not free. We need to be careful with our funds and we need to carefully choose the exchange and timing to avoid low trading volume and potential delisting, which could do more harm than good.

Anyway - it is clear that we must plan ahead and be ready for what is to come. However, we should approach each stage methodically and with caution, taking deliberate actions to avoid making any hasty decisions.

[ArtOfTomas]

Thanks for the mention! I will continue to do my best and keep creating content around BabelFish

[Buble_boy]

It is possible to add a Lottery section to Babelfish as a decentralized lottery like in Cake. I believe that this tool will also engage the audience.

[Buble_boy]

Lotteries can also be beneficial in staking, similar to Cake’s decentralized lottery. Offering a lottery section in Babelfish that incorporates staking could further incentivize engagement and participation from the audience.

[Hyde]

The concept you’ve presented is intriguing. Would you mind providing further details on how it is intended to function?

[Buble_boy]

I envision the perfect decentralized cryptocurrency lottery to have the following features:

1. Transparency: all drawings and winners must be visible on the blockchain. This way, all participants can check the results and ensure that everything is fair.

2. Anonymity: participants must have the option to remain anonymous. This will protect them from fraud and theft of personal data.

3. Security: the lottery must be protected from hacking attacks and other types of fraud. This can be achieved by using reliable cryptographic protocols and technologies.

4. Accessibility: the lottery must be available to all interested parties, regardless of country of residence or income level.

5. User-friendliness: participants should be able to easily and quickly participate in the lottery through a convenient interface.

The conditions should include the following:

1. Transparency: blockchain technology allows for complete transparency of the lottery. All transaction data can be open to all participants.

2. Reliability: blockchain technology ensures a high degree of reliability and security. All transactions are protected by cryptographic protocols.

3. Decentralization: a finished blockchain lottery can be fully decentralized. It can be managed without the involvement of centralized organizations.

4. Automation: thanks to smart contracts, the lottery can be fully automated. This avoids errors and ensures fairness and transparency in conducting the lottery.

5. Uniqueness: a finished blockchain lottery can be unique, attracting more participants and increasing its attractiveness. For example, you can create a lottery using only your own cryptocurrency or use other innovative methods to determine winners.

In addition, the basics include:

1. Setting a minimum number of tokens that each participant must lock to participate in the lottery - this means that participants must have a certain number of tokens to participate in the lottery.

2. Determining the maximum number of tokens that one participant can lock - this means that the organizer can limit the number of tokens that one participant can buy.

3. Setting the date and time of the start and end of ticket sales - this means that the organizer must set exact dates and times for the start and end of ticket sales.

4. Determining the size of the prize pool and the way it is distributed among the winners - this means that the organizer must determine the size of the prize pool and how it is distributed among the winners.

5. Setting the organizer’s commission for the lottery - this means that the organizer can charge a commission for conducting the lottery.

6. Determining the frequency of conducting the lottery and its duration - this means that the organizer must determine how often the lottery will be conducted and how long it will last.

7. Establishing rules for checking results and determining winners - this means that the organizer must establish rules for checking results and determining winners.

8. Setting a process for reviewing complaints and disputes - this means that the organizer must establish a process for reviewing complaints and disputes that may arise.

9. Establishing rules for using participant data and their confidentiality - this means that the organizer must establish rules for using participant data and protecting their confidentiality.

10. Determining the organizer’s responsibility and obligations to participants in the lottery - this means that the organizer must determine their responsibility and obligations to participants in the lottery.

Winnings:

Determining the winning places in a decentralized lottery can be done in various ways. One possible algorithm is to use a random number generated by the blockchain. For example, winners can be determined by transaction numbers that will be generated by the blockchain after the end of ticket sales. The first five transactions (or those whose numbers correspond to the first five winners) will become the winners.

Another way is to use hashes of blockchain blocks. For example, winning places can be determined by the last digits of the hashes of the last few blocks. The first five participants whose tickets correspond to these digits will become the winners.

In any case, the method of determining the winning places must be clearly described in the lottery rules so that participants can understand how the prize places will be determined.

Training Section

The lottery training program for Babelfish users may include the following steps:

1. Familiarization with the lottery rules and mechanics in the blockchain.

2. Training on how to use a wallet to purchase lottery tickets and receive winnings.

3. Understanding the process of drawing and determining the winner in the blockchain.

4. Examining strategies and tips for increasing the chances of winning the lottery.

(A lottery participant can increase their chances of winning by following some strategies:

1. Buying more tickets. The more tickets a participant buys, the higher the chances of winning.

2. Playing in lotteries with higher prizes. Although such lotteries may be more expensive, they usually have fewer participants, which increases the chances of winning.

3. Playing in lotteries with longer expiry dates. Such lotteries usually have fewer participants, which increases the chances of winning.

4. Playing in lotteries that offer more opportunities to win, such as additional draws or special prizes.

5. Using analysis and statistics tools to choose numbers that are more likely to be drawn in the lottery.

However, it is important to remember that all these strategies do not guarantee winning the lottery. The lottery is a game of chance, and the probability of winning always remains low).

5. Training on using analysis and statistics tools to assess the probability of winning the lottery.

6. Examining security and wallet protection issues when participating in the lottery.

7. Conducting practical exercises and testing participants’ knowledge.

Such a training program will help new blockchain participants better understand the process of participating in the lottery, increase their chances of winning, and protect their funds when participating in the lottery.

Training Section

The lottery training program for Babelfish users may include the following steps:

1. Familiarization with the lottery rules and mechanics in the blockchain.

2. Training on how to use a wallet to purchase lottery tickets and receive winnings.

3. Understanding the process of drawing and determining the winner in the blockchain.

4. Examining strategies and tips for increasing the chances of winning the lottery.

(A lottery participant can increase their chances of winning by following some strategies:

1. Buying more tickets. The more tickets a participant buys, the higher the chances of winning.

2. Playing in lotteries with higher prizes. Although such lotteries may be more expensive, they usually have fewer participants, which increases the chances of winning.

3. Playing in lotteries with longer expiry dates. Such lotteries usually have fewer participants, which increases the chances of winning.

4. Playing in lotteries that offer more opportunities to win, such as additional draws or special prizes.

5. Using analysis and statistics tools to choose numbers that are more likely to be drawn in the lottery.

However, it is important to remember that all these strategies do not guarantee winning the lottery. The lottery is a game of chance, and the probability of winning always remains low).

6. Training on using analysis and statistics tools to assess the probability of winning the lottery.

7. Examining security and wallet protection issues when participating in the lottery.

8. Conducting practical exercises and testing participants’ knowledge.

Such a training program will help new blockchain participants better understand the process of participating in the lottery, increase their chances of winning, and protect their funds when participating in the lottery.

Stage 1:

The first step is to create a smart contract that will be responsible for conducting the lottery and determining the winners. This contract should be written using reliable cryptographic protocols and thoroughly tested for security. It will be used for the automatic distribution of winnings among the winners.

In addition, consensus mechanisms can be used in lotteries to determine the winners. For example, in the case of using the Ethereum blockchain, the Proof-of-Stake (PoS) mechanism can be used to determine winners based on the number of tokens participating in the lottery. This also makes the process more transparent and fair.

Ethereum participants can buy lottery tickets using Ethereum tokens. Each ticket represents a certain amount of tokens that are locked in the smart contract until the winners are announced.

After the ticket sales end and tokens are locked in the smart contract, the Proof-of-Stake (PoS) mechanism can be used to determine the winners. In this case, the amount of tokens locked in the smart contract by each participant will be used to determine their chances of winning. Thus, the more tokens a participant has locked in the smart contract, the higher their chances of winning. When announcing winners, the smart contract automatically distributes the prize pool among the winners according to predetermined rules.

In this case, I am more inclined towards the following action:

The smart contract is programmed to accumulate players who buy tickets that cost around 10 Babelfish (this amount can be any, but for starters, it should be easily accessible to everyone, including those who just want to have fun).

The determination should be made by randomly distributing all transaction hashrates of participants among places.

There should be several rounds or several winning places in the lottery, according to a system such as: 1st place - 25% of the total amount in Babelfish, 2nd place - 10%, 3rd place - 5%, 4th, 5th, 6th, and 7th place - 1% each, 8th place - 0.5%, 9th place - 0.5%.

The remaining 55% should be burned, and 10% should be left as a reward for the system itself.

Section 2:

It may be worth considering increasing the number of lottery types to give our participants a larger selection:

a) Lotteries with larger jackpots, but higher ticket prices and longer preparation periods leading up to the draw (e.g. 30-45 days).

b) Lotteries with smaller potential winnings, but more prize places and a moderate preparation period leading up to the draw (e.g. 7 days).

c) Lotteries with a short ticket sales period (1-2 days) and only one winning place.

Section 3:

Establishing a referral bonus system that allows participants to receive additional rewards for bringing new users to Babelfish and the lottery.

For example, three invited users who purchase one lottery ticket each would entitle the inviter to one additional ticket.

Conclusion: The lottery is not the main source of income for the Babelfish project, so it should be carefully developed to ensure fairness for participants and avoid giving the impression that Babelfish relies on user gambling. The lottery should be open, easy to understand for all, and provide a fun opportunity for Babelfish project participants to take a break from constant market monitoring and cryptocurrency exchanges. I see the lottery as an opportunity to beautifully and effectively burn a portion of the Babelfish coin supply, which will ultimately impact its value by constantly reducing the overall coin supply on the market.

P.S. if my ideas for the lottery end up being helpful and profitable, I would appreciate some compensation for my contribution to the implementation. Thanks!

[Hyde]

Did You used ChatGPT to create this?

It is very interesting concept.

I was thinking about it is supposed to work. There are some things to explore further.

Rewards - only from what users provide to the pool, or something from BabelFish too?
Maybe initially it would make sense to add something extra. Rewards in what form - FISH token or also XUSD?

Another idea to think of are free tickets for participation in the lottery for those who provide liquidity to the protocol…

Anyway - I see potential in this idea and maybe at some point it could be implemented. For now let’s focus on what we were working for a long time already.

[Buble_boy]

Yes, I use chat GPT to translate and write my thoughts intelligently.
Yes, lotteries can be used as an additional incentive tool.
I don’t think it’s necessary to use additional babelfish tokens for the pool, but at the beginning of this idea, it might make sense to increase interest.
Apparently the translation wasn’t correct after all, so I changed the translator. It is very important to use only babelfish tokens in the lottery. I mean, they can be bought through xusd and other steblecoins, but it is very important to use babelfish in the lottery, because given the burning conditions and the way this lottery project works in general, babelfish will have a special effect. I am in favor of babelfish growing in value and becoming more in demand.

[Buble_boy]

As can be noticed, the first block contains general aggregated information, while the second block consists of sections that are more specific.

[Buble_boy]

Currently, we are at a stage in the market that allows for the development of the project in terms of its technologies and the addition of aspects that will push Babelfish forward in the future. I hope that by 2024-2025, there will be a bullish market, and Babelfish should have developed its platform by then, which will provide people with what they really need - one-click exchange of stablecoins. To scale up, it would be great to add features for users who will push the coin itself up and attract even more attention. When the project is launched on global exchanges, there should be an opportunity to justify a certain value and accordingly the attention of the community, so users should not have to leave the platform for others. I envision Babelfish in the future as a huge organism that functions openly, clearly, and on a large scale. As a user, speed, security, and complete decentralization are particularly important to me. And these parameters can be implemented in many sections of the project. People themselves want to apply these parameters in many things. Even with the possibilities of artificial intelligence, imagine if everything is open, decentralized, and the system itself generates advertising campaigns, texts, images (this possibility can also be considered within a decade). I am not talking about introducing artificial intelligence as a project manager, but about automation and eliminating the human factor. For example, kebab (a cryptocurrency that has almost completely disappeared at this point) was a very interesting project, but it was completely tied to one person (the administrator) who took the community’s money and simply disappeared. And such stories happen with many projects, which is why people cannot fully trust them.

[Buble_boy]

For example

[Buble_boy]

A marketing campaign will be launched alongside the lottery, which will not just be a simple opening, but will also include an airdrop of not only Babelfish tokens, but also tokens of a popular cryptocurrency (in this example, Sui) and a partner cryptocurrency (let’s say Sov). Before launching the additional extensive section and its first part, for example, a simple lottery as described above, a good marketing campaign with a first big giveaway is needed, such as 1,000,000 Babelfish. As previously mentioned, any popular token will be added to this airdrop to attract additional audiences who invest in any project that includes this word in their marketing, in this example, Sui. To minimize costs when including a hype project, the conditions will state that each participant who completes the required actions (listed below) and stakes more than 60,000 Babelfish for over six months will receive $5 worth of Sui tokens. The amount of Sui will be equal to $5 or 5% of the deposit in dollars, and these 5% or $5 will be calculated from the market value of the Sui cryptocurrency during the first two days of trading for the hype project, which is yet to be launched.

To receive the guaranteed and non-guaranteed (1,000,000 Babelfish, which will also be distributed among a large number of participants) airdrop, the following mandatory actions must be taken:

1. Follow on Twitter (tasks should be easily verified by the platform through a script on Twitter)
2. Follow the partner on Twitter (there may be several - many companies and projects have value but are still in their early stages and are not yet developed enough to conduct large marketing campaigns - they will be willing to help with money or their tokens to conduct such an action)
3. Make a repost (repost not only Babelfish but also the partner’s post, for example, Sov)
4. Stake Babelfish tokens from a certain amount that will not harm the project
   The prize pool can be divided or some of the tokens can be reduced for those who can only complete a few tasks
5. Change bio to #babelfish
6. Change Twitter avatar to Babelfish image
7. Change background to Babelfish image.
   Further amplifiers can include:

• Having more than 1000 subscribers
• Reposting more than 3 babelfish posts
• Posting a video on how to participate in the babelfish airdrop
  And so on.

Of course, as I mentioned earlier, this entire process must include instructional videos and brief platform introductions (1-2 minutes). Additionally, it would be beneficial to involve YouTube bloggers in the lottery and gaming aspects of the babelfish project.

There are many bloggers who may not be at the peak of their career but have a good audience. They can be invited to participate in promoting babelfish under the following conditions: a bounty program for spending funds on the gaming platform through their affiliate link, which is the most accurate option. Alternatively, if it does not harm the project, bloggers can play with capital, the amount of losses of which will be limited by the project itself for the first time (figuratively speaking, babelfish will reimburse losses on lotteries for those bloggers from whom a flow of new subscribers comes (cashback)).

In summary, the program for opening a new section will help people learn more about the babelfish project with minimal financial losses, as most actions will be based on partnerships. This giveaway will increase the number of people interested in easy exchange of stablecoins, as well as the number of partners, and provide a good platform for further, larger advertising campaigns.

[Buble_boy]

Taking into account all of the above, it is possible to connect not only partners in the form of other cryptocurrencies, but also cryptocurrency wallets such as SafePal, which are willing to add cryptocurrency projects to their list of giveaways. Additionally, we can offer starting crypto projects, not those that are already hyped and have a huge audience, but those that have an audience but have not yet made it to the top of the rankings. I am confident that these projects will want to join such a promotional campaign, which will also add interest from an additional audience and bring everyone together on one platform - babelfish. By increasing the range of choices for the audience, we can satisfy a larger audience, rather than just the audience of one or two projects - literally, if there is a condition for the number of subscribers and the number of completed quests, for example, a minimum of 4 tasks to receive an airdrop in babelfish, a minimum of 5 tasks completed (or in our case, we can also introduce a points system, in which case, for example, a minimum of 15 points to access tasks that will give a chance to win a larger sum and a minimum of 16 points to receive tokens from a hyped project).
There are also platforms that are willing to pay for additional advertising of their platforms. For example, we can request confirmation of registration on a particular website.

[Buble_boy]

Overall, these subscriptions that can be added to the conditions for receiving airdrops can also be issued in lottery tickets that can be used exclusively in different games rather than just one game. Thanks to these subscriptions, votes, reposts on Twitter, Telegram, and Discord, we can also add tokens of projects and stable coins directly to the giveaway instead of Babelfish in order to avoid harming liquidity.

In this case, lotteries themselves can also be added to a separate staking contract, which will allow people to earn by providing others with the opportunity to win. This means that we can collect the volume of winnings not only from those who directly participate but also from those who provide their money to ensure certain prizes in different games while not participating in them. These individuals will need to be allocated to a separate structure of the giveaway with an additional clause, for example: 20% - platform, 80% - prize pool, where 20% is 18% for the community that provides coins for giveaways and ensures a guaranteed prize size (we still need to think about implementation). Consequently, with such a platform, we can constantly conduct airdrops and giveaways of certain coins that will not only add money to the project for new giveaways but also bring new people with them.

Therefore, what we will have is:

1. A huge platform for advertising projects that will promote themselves or use Babelfish to confirm their honesty in distributing tokens.
2. We will have a constantly expanding platform for launching new projects and conducting additional lotteries where winnings can be given in stable coins, but tickets must be in Babelfish, as well as rewarding those who sent their tokens to staking to confirm the guarantee of receiving the prize.
3. We will create an additional pool of coins in staking that will be locked for a specific amount of time and cannot be unlocked before their unlocking period, which will increase the value of Babelfish and, as previously mentioned, confirm the platform’s ability to guarantee a minimum prize even with a small number of participants. And for staking participants, this will be an excellent opportunity to get higher rates.
4. With this section, we will attract more participants to the Babelfish system, increase the audience coverage, increase liquidity, and give the Babelfish system additional funds for marketing.
5. By increasing volumes, the number of participants, both from users participating in lotteries and airdrops and from new partners, who can be both future permanent partners and temporary ones who simply want to advertise their project on such a unique platform, the platform itself, I believe, is guaranteed to attract the attention of big players in the cryptocurrency world, including the creators of stable coins and many other secured assets. Therefore, they will also be interested in having a particular project appear on the stablecoin exchange platform.

Much of what is described above can be implemented without the title “lottery.” I hope my thoughts were useful for the Babelfish marketing campaign. I believe that Babelfish is a huge, large-scale project of instant stablecoin exchange. I believe that such a platform, and most importantly, guarantees of fair interaction, is the most valuable thing in cryptocurrency.

[Buble_boy]

Assuming that the winnings will be distributed in a geometric progression, it means that the first winner will receive a smaller prize than the last one, but each of them will receive more than the previous one.

Therefore, to determine the number of participants in the smart contract, which excludes additional investments in the babelfish community lottery block, including the exclusion of a guarantee fund from the funds invested in the staking pool by participants, a formula must be included that determines its activity. If this rule is not met, the smart contract simply returns the money to the participants. For example:
0.5 * N = 512
where N is the number of participants.

Accordingly, with a ticket price of 0.5$, the required number of participants is 1024. The smart contract, on the date specified in it, for example, within a period of two weeks, checks the required number of participants and conducts a lottery according to the described scenario. It is important to consider that the condition should be specifically for the number of participants, not for the sum, because in this case there will be an obvious imbalance. For example, one participant can buy 200,000 tickets, which will stand against 2 tickets from other participants, and the chance of winning for someone who bought 200,000 tickets is almost 100% - this needs to be excluded.

Should we limit the number of tickets per participant in principle? Perhaps yes, but only by a very large amount that would give a significant advantage. This is to prevent anyone from breaking the winning system and simply earning, for example, the same 2-8% of what they would get by just buying lottery tickets. At the same time, we can, of course, ignore this condition, for example, by considering the formula for maximum tickets in such a way that the overriding bid receives no more than the amount it can receive in winnings or from staking in babelfish.

[Buble_boy]

The formula was calculated on the basis of the ticket price of $0.5, provided that the minimum winnings are not less than 10 times the size of the ticket price.
Thus, the first winner gets $1, the second winner gets $2, the third winner gets $4, the fourth winner gets $8, the fifth winner gets $16, the sixth winner gets $32, the seventh winner gets $64, the eighth winner gets $128, the ninth winner gets $256, and the tenth winner gets the biggest win of $512