About ETH5050

BIT5050 INC. chose Ethereum L2 networks because they keep ETH5050 affordable while preserving EVM compatibility and public on-chain verification. ETH5050 V2 focuses on Base, OP Mainnet, and Arbitrum so the platform can use Chainlink VRF and Chainlink Automation where those services are available for the V2 raffle lifecycle. This gives users low-cost ETH transactions, transparent contract execution, and a stronger randomness model than block-based entropy alone.

ETH5050 V2 upgrades winner selection to Chainlink VRF v2.5, an oracle-based verifiable random function designed for unbiased, publicly verifiable randomness. When a raffle ends or sells out, the contract requests randomness from Chainlink VRF using native ETH direct funding. The returned random value is used on-chain to select the winning ticket, and anyone can inspect the request, callback, winner selection, and payout events on the block explorer.

Chainlink Automation is used to trigger finalization automatically, removing the need for a private keeper wallet or centralized VPS to complete raffles. ETH5050 also keeps a permissionless fallback path, so the contract can still be finalized if Automation is delayed. The result is a more decentralized V2 system: randomness comes from Chainlink VRF, execution is handled by decentralized Automation, and settlement happens directly in the smart contract.

Each V2 raffle creation includes a transparent finalization reserve. The creator pays 0.012 ETH total: 0.010 ETH is the platform creation fee and 0.002 ETH funds the decentralized finalization reserve pool. That reserve supports Chainlink VRF native ETH requests, Chainlink Automation upkeep operations, and fallback settlement.

ETH5050 is part of BIT5050 INC., a community-driven project. V2 was built around user trust: no hidden draw process, no private server deciding winners, no opaque settlement path. Every raffle remains public, verifiable, and ETH-native, with the V2 architecture designed to keep finalization reliable as the platform grows.