About Pooltogether.com
Pooltogether.com is a protocol for no-loss prize games on Ethereum. Modeled on the well established concept of “no loss lotteries” and “prize savings accounts” the protocol offers a chance to win prizes in exchange for depositing funds. Even if you don’t win, you keep all your deposited funds. Prizes are made up of the interest that accrues on all users deposits.
Pooltogether.com is a protocol for no-loss prize video games on Ethereum. Modeled at the well-mounted idea of “no loss lotteries” and “prize financial savings accounts” the protocol gives a risk to win prizes in alternate for depositing funds.
PoolTogether is airdropping a complete of 1,400,000 POOL (1% of overall supply) to early PoolTogether customers. All customers who’ve deposited on PoolTogether till January 14th, 2021, at nighttime UTC are eligible to assert the rewards.
POOL is their governance token which lets in customers to advise changes & vote on more than one components of the lotteries. This consists of adjusting the variety of winners, launching new prize pools, integrating new yield sources, imposing L2 answers etc.
| Platform | Airdrop Start | KYC | Website |
|---|---|---|---|
| ETH | 2021-02-14 | KYC for users is NOT a requirement | Click Here To Visit |
POOL Token
The PoolTogether Protocol is controlled by POOL token holders. All changes to the protocol are submitted and approved. The protocol automatically distributes the POOL token to anyone who deposits into the protocol.
Howit works
Get Tickets
Deposit into any prize pool and instantly get tickets.
Win Prize
As long as you have deposits you’re eligible to win prizes. Prizes are made up of the all the interest earned on deposited money in the pools.
Never lose
Remove your deposit at anytime. As long as you stay in the pools you continue to be eligible to win.
Security& risks
Pooltogether.com is an open-source and decentralized protocol that is provided on an “as is” and “as available” basis. The protocol has unique risks associated with its use. It is important to understand these risks before using the protocol.
What are Dai, USDC and Tether?
Dai, USDC, and Tether are stablecoins, or digital assets, whose price is intended to be pegged to the US dollar. This means the value of one Dai, USDC or Tether is generally equal to 1 US Dollar, and their values are not intended to fluctuate like Bitcoin and other cryptocurrencies. However, because the prices of Dai and USDC and Tether are market-driven, there are still price fluctuations. Using Dai and USDC, as with any cryptocurrency, comes with other risks. You can learn more about the risks associated with Dai and USDC by going here and here.
How Can Get Dai, USDC and Tether?
There are many ways to acquire these crypto currencies. One easy way is to purchase them on a cryptocurrency exchange. Coinbase is one exchange that is popular and easy to use. If you already own Ethereum, you can exchange your Ethereum for Dai, USDC, and Tether on uniswap.exchange, an open exchange.
Prizing Pool
When you deposit into a prize pool, you are instantly eligible to win. This creates a possibility for people to abuse the system by depositing right before a prize, having a chance to win, and withdrawing right after. The protocol prevents this by enforcing a temporary early withdrawal penalty. This means if someone deposits and immediately withdraws they will have to pay a penalty that will go to the next prize. Over time this penalty reduces to zero. The early withdrawal penalty is different for each prize pool but is generally two times the length of the prize period. Therefore the weekly prize pool would have an early withdrawal penalty for the first two weeks.