Question 1

What is 5050SOL?

Accepted Answer

5050SOL is a decentralized Web3 50/50 raffle platform built on the Solana blockchain, operated by Bit5050 INC. Users create or join on-chain raffles using SOL, and a smart contract automatically splits the pot 50% to the winner and 50% to the creator.

Question 2

How much does a raffle ticket cost on 5050SOL?

Accepted Answer

Each ticket costs 0.05 SOL on 5050SOL.

Question 3

How much does it cost to create a raffle on 5050SOL?

Accepted Answer

Creating a raffle on 5050SOL costs a 0.25 SOL fee.

Question 4

How is the prize split on 5050SOL?

Accepted Answer

50% of the total pot goes to the winner and 50% goes to the raffle creator, paid out automatically by the smart contract. There are no platform fees taken from the pot.

Question 5

How is the winner chosen on 5050SOL?

Accepted Answer

The winner is selected automatically by the on-chain Solana smart contract using provably fair randomness when the raffle duration ends. No one, including the creator, can manipulate the outcome.

Question 6

Do winners need to claim their prize on 5050SOL?

Accepted Answer

No. Payouts are instant and automatic — the smart contract sends the winner their 50% and the creator their 50% directly to their wallets the moment the raffle ends. No claiming step is required.

Question 7

What blockchain and token does 5050SOL use?

Accepted Answer

5050SOL is built on the Solana blockchain and uses SOL, Solana’s native token, for all raffle transactions.

Question 8

What wallets work with 5050SOL?

Accepted Answer

5050SOL works with any Solana-compatible wallet, including Phantom, Solflare, MetaMask, and Trust Wallet. Users need SOL in their wallet to create raffles or buy tickets.

Question 9

Is 5050SOL fair and transparent?

Accepted Answer

Yes. Every raffle, ticket purchase, and payout is 100% on-chain and verifiable on Solana. Winner selection uses tamper-proof on-chain randomness, so the outcome cannot be manipulated.

Question 10

Who can use 5050SOL?

Accepted Answer

Anyone 18 years or older with a Solana wallet and SOL tokens can create or join raffles from anywhere in the world.

Question 11

Who built 5050SOL?

Accepted Answer

5050SOL is built and operated by Bit5050 INC.

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