What Is PoolTogether Coin ( POOL) ?
PoolTogether 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 user’s deposits. Because this protocol is built on Ethereum using new technology, using it includes substantial risks that should be understood before depositing.
PoolTogether price today is $16.33 USD with a 24-hour trading volume of $6,296,053 USD. PoolTogether has no change in the last 24 hours. The current CoinMarketCap ranking is #2395, with a market cap of not available. The circulating supply is not available and the max. supply is not available. The top exchanges for trading in PoolTogether are currently Uniswap (V2), and 1inch Exchange. You can find others listed on the crypto exchanges page.
Pooltogether does have some potential drawbacks in its design – most glaring is the fact that it will most probably make the rich even richer, while the poor will only serve as a tool, a leverage the rich will use to win bigger prizes.
Important Points Table Of PoolTogether Coin
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How to Buy the PoolTogether Coin & Trade On Exchange?
Buying Pool Is Very Easy Task. Just Find Exchange Where BOTS Available & Buy Through Your Credit & Other Altcoin.
Once You Purchased Pool. Now It Is Time To Store Your Pool Or Start Trading On Exchange .
How It Works
Deposit into any prize pool and instantly get tickets.
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.
Remove your deposit at anytime. As long as you stay in the pools you continue to be eligible to win.
How does PoolTogether make money?
PoolTogether Coin does not make money. PoolTogether is backed by some of the top venture capital firms in the world which allows to focus on building an excellent open-source and decentralized protocol.
When you join a prize pool, your money is deposited into a yield source. The yield source generates the return that makes up the prizes. Currently, the protocol supports two different yield sources, Compound.Finance and yEarn Vaults. Each of these yield sources carries its own risks which need to be understood in addition to the risk of using the PoolTogether Protocol.
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. There are many ways to acquire these cryptocurrencies. 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 uni swap. exchange, an open exchange.
Security & risks
PoolTogether Coin 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.
The smart contract built by their team uses intelligent mechanism solutions to power a no-loss game like PoolTogether. At the moment the service is unproven and there might be some technical errors or bugs in the contract which can cause users to lose their funds, always be aware of that when you use early-stage products like this.