What is Pool Together?
Why we like it
A chance to win a lottery without having to buy tickets? Whaaaaa. What is there not to like about a NO LOSS lottery?! The video above explains it all. Deposit stable coins and/or crypto assets into the Pool Together DeFi protocol, collect interest on your deposit in the form of POOL tokens, and hope and pray that one of your tickets gets selected to win a lottery! And yes, as long as you have assets locked up in the Pool Together app, your lottery tickets are played automatically in every single draw. Mind blowing.
We have yet to connect on a Pool Together lottery, but we are happy to share that a close friend of the Banfield familia has! Lottery earnings paid in DAI (1 DAI always = $1 USD) sent straight to your Ethereum address, no questions asked. Simply, amazing. The only con that has slightly bothered us to date, is the fact that the value of the damn Pool token seems to plummet whenever Ethereum gas is cheap. Cheap ETH gas = low transaction fees. We assume this is a result of people making moves from the POOL governance token into stable coins and/or other crypto assets. Regardless, we are ecstatic about this new innovative way of playing the lottery. Anytime you give the Banfield Group an opportunity at earning - sans risk, you know we be taking a shot.
Pool together steps
Deposit stable coins or advertised crypto assets into the Pool Togther app
Receive tickets to Pool Together lotteries (1 ticket for every $1 deposited)
Your deposit earns interest in the form of POOL tokens.
Claim said POOL tokens (when ETH gas is cheap) and stake them in the Pool vault to accelerate your POOL token earnings!