The blockchain can be utilized in a myriad of ways and PoolTogether is a perfect example of a great usage. This relatively new site allows users to enter their Dai into a weekly raffle with the chance of winning more than $1400 USD worth of Dai. If they don’t win, then their coins are returned to them and they can enter the next week’s drawing.
How is this possible?
PoolTogether uses the Dai that are entered and gathers the $1400 worth of Dai from the interest that is accrued off of the Dai that was entered by users. This is what they called a “No Loss” raffle system and is pretty ingenious in my opinion. Users who don’t win still have a chance next week to earn a shit ton of Dai.
Is it safe?
According to PoolTogether’s website, their smart contracts have been audited by both Openzepplin and Quantstamp.
How can I deposit?
Dai or USDC can be deposited using MetaMask, WalletConnect, Portis, CoinbaseWallet, or SquareLink.
Visit here ----> pooltogether.com
Info gathered from their website.
