What is PoolTogether?

PoolTogether (PT) is a cool idea. It is a no-loss lottery. 1st, you deposit funds into it. You have  the option to decide on what token you want to deposit. Everyone else does the same. All  depositors’ funds are now in a ‘pool’ which is invested into different strategies. The rate of return  from this pool is randomly given out to the one of the many depositors every week.

So let’s say me, Jude, Rupert and Bernard each deposit $1000 into PoolTogether. At the end of  the week this $4000 has generated $50 worth of interest. This $50 is given to the wallet with the  token address that is drawn. Each token is one “ticket” in the no-loss lottery. The best part of  Pool Together is that you keep your token and can sell/redeem it after a week. Pool takes the  best part of saving, investing, trading, speculating and gambling and wraps it in an easy to use  token. American’s alone spend almost $100 Billion a year on lottery tickets. What if 10% of that  transferred to Pool? The weekly prize pool would $50 million each week!!! All in a no-loss lottery  where people get to keep their principal investment.  

Currently, you can see there’s 92 million USDC and almost 60k is going to someone this week.  While it is a smaller sum, it is being staked and it is no-loss. This number will continue to  increase as more people get involved with the protocol.

A couple of interesting things is that there is currently a reserve of 540k, with half the interest  going there. This can help PoolTogether weather the storm in the event that the Pool does lose  money for a period of time. It also adds value to their grants committee and treasury that is  available to help the crypto community at large.  

POOL tokens are distributed to people who use PoolTogether, enabling users to play a role in  the governance of PT in the future. Here is a snapshot of POOL token holders voting recently.  PTIP means Pool Together Improvement Proposal: 

In conclusion, Pool Together is a no-loss lottery bridging the entire realm of finance. From  saving to no-loss gambling, Pool Together does it all!