A novelty in full swing – PoolTogether, the new loser-free lottery, continues to evolve. A week after the launch of its governance token, the protocol’s pools are on track to surpass $ 100 million.
PoolTogether: bet… without losing anything!
Launched in June 2019, PoolTogether is a new kind of decentralized lottery application. Indeed, it takes advantage of a concept widely used in the Bitcoin Revolution ecosystem: liquidity pools .
In practice, the protocol has 4 pools: DAI , USDC , COMP and UNI . To participate, a user must deposit funds into the pool of their choice.
Loterie Pool Together
All funds deposited by users are then loaned to various DeFi protocols. At the time of the draw, the winner gets back the return generated by the funds in the pool. For their part, all the participants simply continue to try their luck in the next draws.
PoolTogether is therefore the first certified lottery without losers, because all the players never lose in the process.
$ 90 million deposited
Last week, the protocol was talked about following the launch of its governance token , the POOL. In addition to distributing it in the form of an airdrop to all users of the protocol, it has also launched a liquidity mining program .
So far it seems that this program is a great success. Indeed, the liquidity deposited on the protocol reached 90 million dollars .
Counter on the official website
This surge in deposits unsurprisingly also raised the weekly cash price to $ 129,732 .