Raffles
To recap what we mentioned in the Introduction, a simplified process flow of using PREMINT for allowlist management is as below.
PREMINT Page for the project —> User Registrations —> Raffle —> Export winners’ list —> Use this list in the smart contract
As you can see, the raffle is an important component of this process. In this section we will talk about various aspects of the raffle. Let’s consider a simple case where you have one list without any collabs. Let’s say you have 8,000 registrations and want to pick 5,000 winners.
You can go to Project settings > Entry List > Winners and enter 5,000 in the first text box and click on the ‘Pick Winners’ button. Our random number generator based code will pick 5,000 winners at random. Just below the pick winners button, you will notice a text section with all 5000 wallets mentioned. You can download this list for any analysis if you wish.
Re-draw winners and finalize
Please note that the winners have not been “finalized” yet. Consider this as a draft list of winners. If you are happy with this list of winners, you can go ahead and click the finalize button. Alternatively, you can “pick more winners” to add more winners or clear winners and start the entire draw again.
You can again download the winnners’ list and analyze and everytime you will continue facing 3 choices - pick more winners, clear winners, finalize.
When you are happy with the list, you can finalize. This is irreversible and will lock down your project. You will not be able to change anything in your project after finalizing except for mint info (price, date, number of spots etc.), so please double check before finalizing. Clicking the finalize button once does not finalize the list. Creators will need to hit the confirm button to finalize.
Implications of finalizing your list
You will not be able to change most aspects of your PREMINT project, including the list of winners
Users visiting the page will now be able to see if they won or lost (and will also see the custom message you setup in Project Settings > Raffle)
All winners and waitlisted users will receive an email that they have won or have been placed on the waitlist
You will not be able to delete your list
Waitlist
Let’s say you have a 10k supply NFT project coming up. If you select exactly 10k winners, there is a good chance that many winners will not mint (they forgot, had technical difficulties, they were short on funds etc.). To protect the project against this uncertainty, some projects overallocate the number of allowlist spots by 20-30%. However, this causes uncertainty for the collectors and there is a chance of a gas war, which does not help anyone. Additionally, people who were allocated an allowlist spot but could not mint because of the overallocation may get upset and not view the project favourably.
Waitlists are a way to balance both these considerations. Some projects (Moonbirds for exanple) setup a three-phase minting where the allowlisted users (same number as the NFT supply) are allowed to mint first. Then there is a window for waitlisted users to mint the supply which was not minted by the allowlisted users. And if there is still any supply left, it would be minted in public minting which would be open to everyone.
You can read more details in this blog, but the idea here is to introduce a mint stage just before the public mint but after the allowlist mint. Depending on your waitlist allocation, there may be a gas war, but it will be on this limited waitlist mint, not on your entire supply.
https://blog.premint.xyz/p/allowlist-plus-waitlist-for-nft-drops
When picking winners, PREMINT allows you to pick waitlisted users too in the same flow as picking winners. So while picking winners, you need to enter the desired number of winners as well as the desired number of waitlisted users.
Please note that the waitlist functionality is usually helpful for projects which are very hyped. It is probably not needed for every project.
Collabs and Winners
Our initial example was a simple one involving the main project without any collabs. However, in reality, you may have multiple collabs in your list.
When picking winners (winners for the main project and all child collabs need to be picked together), PREMINT asks you how many winners do you wish to pick from each collab and how many from the main list. Let’s say you indicate you want to pick 100 winners from each collab and 1000 from the main list. This is how PREMINT picks winners:
Pick 100 winners from each collab
Place all users who registered for collabs but did not win into the main user list
Pick 1000 winners from this new main list (which comprises of the original user list of the main list + users who did not win from collabs).
Thus, users who registered for collabs have two chances of being picked as winners. Just like the original example, you can pick more winners or clear winners and re-draw if you wish. Or you can finalize the list when you are satisfied with your list.
Weightage for the number of tokens owned
Projects often like to reward their larger holders (own multiple NFTs) with a higher chance of winning the raffle. Higher the number of NFTs from a collection someone owns, higher their chances of winning should be. On PREMINT, such a weightage mechanism is not available currently. A holder owning 1 NFT as well as another owning 100 have the same chances of winning currently.
Incorporating the number of NFTs owned is on the roadmap and when this is ready, creators will be able to decide whether they want the raffle to be weighted for NFT ownership or not.
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