Pool Together — A No Loss Lottery

Pool Together is one of the more-trusted names in DeFi and they just launched their third version (V3). They’ve been thoroughly audited and are backed by some big names in the space such as Consensys.

The operation of the protocol is pretty straight forward: the participant’s DAI is ‘pooled together’ and deposited into Compound Finance to earn interest, which is awarded to one person each week. In past weeks, the total interest has been around $1,500.

Two things to note: first, as long as your DAI tokens are deposited, you are automatically re-entered each week, so you have many chances to win, week after week, as long as you keep your funds in the pool. And there’s no risk of impermanent loss in this pool — you can withdraw your DAI at any time.

The second thing to note is that this week, people have been adding other tokens to the prize pool to raise awareness of the V3 launch, so the prize this week is more than 5 times higher than typical, with an array of Defi tokens and assets as bonus prizes.

They’re also super transparent, enabling you to see everyone who’s entered, and how many tickets they’ve entered and what their probability of winning would be. The top pooler has put in 79,301 DAI and has around a 1 in 9 chance of winning. When we deposited 81 DAI into the pool it reports back a 1 in 8,710 chance of winning. To give you an idea how it all works, you click ‘Get Tickets’ and authorize DAI Transactions (which costs around a $1) and the second transaction is for the deposit (that was around $10).

It’s pretty safe and there’s a significant, if low-probability upside. Please use my referral link.

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