ETH OnFire Dapps
Eth OnFire is a coin burning raffle contract operated by the ETH community. Following the design of the Bonfire dapps, Eth OnFire begins with the OnFire team submitting a hash containing a salt number. The purpose of submitting the salt number hidden in a hash is to: a)protect against possible bad actors providing the random number and b)prove the salt number has not been tampered with after the random number was delivered. The random number providers cannot know the salt number unless they what else went into the hash function with the salt number. And the OnFire team cannot change the salt number after the random number is provided because changing the salt number would create a different hash that would not the originally submitted hash. The OnFire team then sets the ticket price to begin a round. When all of the tickets have been purchased, a random number is requested from Oraclize. Any user can request the random number. The user with the successful random number transaction that also returns a random number is rewarded with the value of a ticket. It should be noted that there is a 30 minute cool down for requesting the random number and the excess gas is paid to Oraclize. When the random number is received from Oraclize the OnFire team will reveal the salt number in the hash submitted at the start of the round. The salt number is combined with the Oraclize random number to generate the winning ticket number. After the hash is revealed, any user can call for the coins to be burned. A successful burn transaction burns about 69% (69% minus the value of two tickets) of the ticket sales and rewards the function caller with the value of a ticket. A successful burn request also deposits 30% of the ticket sales to the winning ticket number, and deposits the value of a ticket for the successful random number and burn transactors to be withdrawn by their respective recipient. 1% of the ticket sales goes to the OnFire team. By burning coins on every raffle round the OnFire team is generating value for the entire ETH community by reducing the amount of circulating ETH. The OnFire team wishes for the ETH community to get value from their contracts whether they win, lose, or hodl. Try the contract for free on the Rinkeby testnet: https://ethonfire.github.io/EthOnFire-Rinkeby/
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