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I came across this BSC gem on Pancakeswap and I straight away went to research more about it. I would like to share my findings, but of course I am not here to offer financial advice. I would encourage you to do your own due diligence. However, I would like to mention that a great deal of time and effort went into my research so I am not here to shill a useless shitcoin. Read on.
Are you still thinking that the title to this article is just meant to grab your attention? I can promise you that it’s not just a catchy title, it’s serious. Moonpot is a lottery where there are no losers. It’s a win-win lottery built on the BINANCE Smart Chain (BSC) by the team at Beefy Finance. Today, I will tell you all about it, and how you can begin to participate immediately.
If you have ever gambled or played any form of lottery, you know what happens when you don't win; well, you lose your stake. Basically, all the amount of money you had wagered is gone, to never be seen again! Despite the temptation of winning lucrative prizes, people are often scared of participating in lotteries due to the fact that one could lose their hard-earned money in a single spin of the wheel. Wait a minute, what if you could participate in a lottery without the risk of losing your original investment? Does that sound too good to be true? Well, let me introduce to you a lottery where there are literally no losers.
Moonpot
Moonpot is a product of Beefy Finance, a decentralized, multi-chain yield optimizer that automatically maximizes the user rewards from various liquidity pools (LPs), Automated Market Making (AMM) projects, and other yield farming opportunities in the DeFi ecosystem. Moonpot is a no-loss lottery DeFi platform built on the Binance Smart Chain (BSC). Its native token is POTS.
How does Moonpot work?
I will make it brief and straight to the point so that those who are interested can check their website
As you are aware by now, Moonpot is a DeFi platform where users can stake their coins in different pots. Now, two things will happen when you deposit your money in moonpot
- The first one is that your staked coins will earn interest just like on other staking platforms
- The second one is that you will be automatically entered into a draw to win more coins at no extra cost to you
As you can see in the images below, your deposit accumulates rewards at a certain APY, in addition to the potential winnings.
At the moment, users can deposit single assets or LP tokens in order to earn staking rewards as well as be entered in the draw. As of the time of writing, the following assets had their own pots: POTS, WATCH, CAKE, PACOCA, BNB (beltBNB), BABY, BANANA, BIFI, 4Belt USD LP, POTS-BUSD LP, xBLZD, POTS-BNB LP, CAKE-BNB LP, BIFI-BNB LP. The team keeps adding new pots from time to time.
Draws are done daily, weekly, bi-weekly or monthly, depending on the pot. Some pots have one winner, five winners, or ten winners. Look out for their twitter page for an announcement of the winners.
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If you are looking for other ways to earn passive income apart from the one in this article, consider registering at Cake DeFi and receive $30 welcome bonus when you make your first $50 deposit.
