FAQs

Q: What is the Zelo Finance Protocol? A: Zelo is a lossless lottery prize savings protocol operating on the Solana blockchain. It offers users a way to save money with the chance to win a prize without risking their principal amount.

Q: How does the Zelo Finance Protocol work? A: Users deposit their funds into a Jito liquid staking pool via Zelo, where the deposits earn yield. Due to minor issues with the Switchboard Randomness Service, winners are drawn off-chain based on the time staked and the amount of SOL deposited. An update is expected soon to begin using Switchboard for verifiably random drawings. Winners receive the yield accrued over the week, while all participants retain their original deposits.

Q: Can I withdraw my deposit from Zelo Finance Protocol at any time? A: Yes, you can withdraw your deposit at any time. The principal amount is never at risk and remains accessible for withdrawal whenever you choose.

Q: Is Zelo Finance Protocol safe? A: Zelo operates as a non-custodial protocol, meaning it does not hold onto user funds. Users have total control over their deposits, reducing the risk associated with custodial services.

Q: How are winners determined in Zelo's lossless lottery? A: Currently, winners are selected off-chain based on the amount of SOL deposited and the duration staked. Once issues are resolved, The process will soon be updated to utilize the Switchboard Randomness Service for enhanced fairness and verifiable randomness.

Q: When are winners drawn in the Zelo Finance Protocol lottery? A: Winners are drawn every Monday at 4 PM UTC. Following the draw, the rewards are automatically airdropped to the wallet used for depositing.

Q: How many winners are selected each week in the Zelo Finance Protocol? A: Each week, five winners are chosen to receive the yield accumulated from the collective deposits.

Q: How do the winning odds work in the Zelo Finance Protocol? A: The winning odds in Zelo are influenced by both the total amount you have staked and the duration for which your funds have been staked. As the length of time your funds are staked increases, so do your odds of winning. However, these odds reset after each weekly draw.