Have you ever heard about PoolTogether? It has been launched for two years in the blockchain. PoolTogether is a service that turns your savings into a finance game. You can get a chance to win crypto prizes with the no-loss mechanism. So what exactly is PoolTogether and how does it work? Let’s find out more through this article!
What Is PoolTogether ?
PoolTogether is an interesting project about the no-loss prize games. It is described as a combination of Defi and Lottery, which works by accumulating interest from all regular ticket holders. First, you got tickets from PoolTogether service to have a chance to win a crypto prize. A no-loss prize game means that if you lose the drawing, they will refund the money that you paid to enter the lottery.
PoolTogether is an Ethereum-based lottery platform. It supports 4 different blockchains includes Ethereum, BSC, Polygon, and Celo. There are five winners per week. The luckiest winner so far deposited 74$ and won over 40k$. Unless you win the prize, your tickets still roll over to the next drawing. It will go on until you win or take your crypto out of the pool.
It’s a win-win situation. You might not win, but when you lose, your money is still in your wallet. PoolTogether is described as a no-loss prize game, where everyone has a chance to win but no one loses.
What is the project trying to achieve?
-PoolTogether wants to help people become wealthy.
-They give all depositors the chance to win the weekly pool prize without having a risk of losing their deposited funds. They ensure to give users “NO LOSS LOTTERIES” and “PRIZE SAVING ACCOUNTS”.
-They encourage users to save money by offering prizes
-You don’t risk your money because PoolTogether is better than the traditional lottery.
What is unique selling point?
How does PoolTogether work?
-One of the most widely used decentralized finance applications :
The project has been lived for over 2 years and over 5$ million dollars have been distributed to the depositors.
-Protocol is decentralized and opensource :
That means anyone can view and audit the code to verify it is fair and secure. Several professional third parties have audited the PoolTogether code.
-Better than traditional lotteries :
These products have been shown to divert money from traditional lotteries and increase savings.
Holders can make a vote on active proposals about controlling community prize pools. They can adjust number of winners, the prize frequency, new prize strategy, or launching new prize pools by voting.
How To Participate In PoolTogether Lottery ?
- Connect Crypto Wallet . PoolTogether supports many popular options such as Metamask ,WalletConnect, CoinbaseWallet, Trezor ,Ledger…
- Go to the pool and deposit the asset to the pools that you want (USDC ,DAI ,CUSD ,COMP,UNI…)
- You will need to pay the transaction fee in ETH (it’s a little bit high due to demand on Ethereum network)
- Your deposits will be locked in a pool for at least 10 days. There is a penalty fee if you want to withdraw early.
- Token Name: Pool Together Token
- Ticker: POOL
- Blockchain: Ethereum
- Token Standard: ERC-20
- Contract: 0x0cEC1A9154Ff802e7934Fc916Ed7Ca50bDE6844e
- Token type: Governance
- Total Supply: 10,000,000 POOL
- Circulating Supply: 1,498,749 POOL
- POOL Token Treasury: 57.5%
- Team & Investors: 20%
- Team: 12.5%
- Investors: 7.5%
- Retroactive Distribution: 14%
- Liquidity Mining: 5%
- New User Education: 2.5%
- Voters: 1%
Token Use Case
-Staking to earn POOL and get lotteries.
-Using for voting to adjust the Prize.
How To Own The Token?
-Buying on Gate.Io
-Swap in Dex (Uniswap, Sushiswap, 1Inch)
In conclusion, PoolTogether is a safe place for your savings. It is a project that is worth trying to invest. PoolTogether combines many technologies from blockchain and unique ideas from lottery to bring many great experiences for users. Investors will not be able to see a game with such high returns with so few risks.
Participate in PoolTogether Community :
If you have any questions ,comments ,suggestions ,or ideas about the project ,please email [email protected]