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Binance NFT Subscription Mechanism Winner Selection Algorithm

2022-01-12 05:17
When the NFT subscription period ends, your subscribed Participation Tickets will enter a pool. The system will select the winners in a fair and square manner.
The winner selection algorithm is as follows:
1. Select the specified time (the calculation starting time) + all Participation Tickets as the base seed, denoted as “S”.
2. Use the SHA-256 hash algorithm to generate the hash value of “S”, denoted as “H”. Then use “H” as a hexadecimal number and convert it into a long integer “L”.
3. “W = L% N” will be the winning Participation Ticket number, where “N” is the total number of tickets and “%” is the remainder.
4. If a certain number of winners (“X”) needs to be selected, the new base seed will be set to “S = H”. Steps 2 and 3 will be repeated until “X” unique winners are selected.
The selection algorithm can generate one or more numbers for each sale.
The selection process is fully public and verifiable. After Binance announces the specific selection time and the total number of Participation Tickets subscribed, anyone can verify the results after the subscription period ends.