No-loss lottery PoolTogether cracks 50 million in deposits after token airdrop
The self-styled "savings game" is hoovering user deposits, leading to meaty lottery payouts No-loss lotteries appear to have found a snug product-market fit. Just a few days after the airdrop of their governance token, POOL, the self-styled “savings game” PoolTogether has cracked $50 million in total value locked with ease, currently sitting above $51 million spread between DAI, USDC, UNI, and COMP lottery pools. PoolTogether aptly 'pools' user funds and deposits them into decentralized finance savings protocols, using the interest as prizes for randomly-selected winners and returning the....
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The distribution was designed to reward small depositors on PoolTogether who stayed in a long time.
Since launching its V3 iteration in October, PoolTogether has paid out more than $750,000 in risk-free lottery returns. Data published by crypto analytics provider Messari indicates that PoolTogether’s V3 no-risk lottery platform has amassed more than 6,000 users since launching in October.Messari asserts that PoolTogether’s user base ranks it “one of the most utilized protocols” in DeFi excluding decentralized exchanges. To date, PoolTogether's V3 has garnered over 6,000 continuous lottery players, making it one of the most utilized protocols excluding DEXs....
PoolTogether v3 will enable more ERC-20 tokens, more yield sources and more prize distribution schemes for the DeFi savings game.
The platform has already raised more than half of its target and still has another 21 days to go before the NFT funding campaign ends. So called “no-loss lottery” DeFi platform PoolTogether has raised 470.90 Ether (ETH) via NFT sales to fund its legal defense against a putative class action lawsuit.That means PoolTogether is more than halfway to its goal to raise at least 769 ETH worth roughly $1.5 million to fight what it calls a lawsuit that has “no merit”. The platform has another 21 days to go before the NFT funding campaign ends. It noted on its NFT minting page that:“PoolTogether....
Alchemix and Yearn.Finance appear to be squaring off with Curve and PoolTogether, but for now there appear to be harmonious solutions. With millions and even billions of dollars at stake, industrial-scale yield farming is leading to pockets of resistance as some projects refuse to be left with the chaff. In the past week, team members from no-loss lottery project PoolTogether and exchange liquidity pool provider Curve Finance have proposed ways to reduce the load Yearn.Finance strategies place on their protocols and governance tokens. In a Tweet on Sunday, PoolTogether co-founder Leighton....