PoolTogether pool

PoolTogether is an open-source and decentralised protocol for no-loss prize games using cryptocurrencies, currently deployed on Ethereum, xDai, Polygon and Binance Smart Chain (‘BSC’).

Built by PoolTogether LLC (‘Team’), the protocol lets users deposit DAI into a pool that accrues interest as it grows. For every DAI a person deposits, they receive a ticket, which gives them a chance to win all interest accrued in the pool, awarded every 7 days.

The concept of prize pools is core to understanding PoolTogether. Prize pools are the main way through which users interact with PoolTogether prize games. As of this writing, there are 2 types of prize pools: yield source prize pools and stake prize pools. The former utilises a yield source to generate prizes, whilst the latter holds deposits and prizes are added manually.

The pools are otherwise known as ’no-loss lotteries’ or ’prize-savings accounts’. Anyone participating in a prize game can withdraw their deposit at any time and will never incur a loss.

Prize games can differentiate in the following ways:

• Yield source
• Prize strategy used to determine frequency and distribution of prizes
• Additional rewards offered by the prize pool
• Supported forms of deposit
• Fairness parameters

PoolTogether’s native token is the Pool token (‘POOL’), which is used for governance. The total token supply is 10,000,000 POOL, of which ~1.86M are circulating and 5.03M are held in treasury.

POOL holders govern the protocol by voting on PoolTogether Improvement Proposals (‘PTIPs’). Examples of PTIPs include:

• adjusting the number of winners;
• launching prize pools;
• integrating new yield sources;
• implementing scaling solutions; and
• adjusting POOL’s issuance rate.

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