Save Money, Win Prizes, Earn NFTs


PoolTogether NFT promotion

Hey friends 👋

Those of you who’ve been following along know that I’m a huge fan of PoolTogether. This prize savings protocol was basically my intro to DeFi. On top of that, my first crypto video was all about the launch of PoolTogether’s first savings pool on Polygon.

Since then I’ve done lots of content about PoolTogether, some of which was sponsored by their PoolGrants program. I’ve engaged in the community, voted on DAO proposals, and I can confidently say, this is one of my favourite communities in the crypto space 💖

Even with all of that said, there are many people who have still never heard of this amazing protocol. So today, I’ll give you a quick explanation of how it works (for a deeper dive, check out this post) and tell you about an exciting new promotion where you can win NFTs for participating in weekly missions! 👀

What is PoolTogether?

PoolTogether is a multi-chain crypto prize savings protocol. As I explained in my post The New Wave of DeFi

...prize savings, or prize-linked savings, or premium bonds, or as some people like to affectionately call them, ‘no-loss lotteries’ are a way of saving money that actually manage to combine [low risk investing and asymmetric rewards]

This works in a rather simple way. You take a standard savings account, but instead of returning interest to the depositor, you pool that interest with the interest of the all other depositors, and that makes up the prize, which just like in a traditional lottery, gets doled out to randomly selected winners at regular intervals. 

This particular financial primitive benefits from the open nature of DeFi in a number of ways. For example, a prize savings at traditional banking institution may lack transparency around how winners are selected. What are the odds? Is it truly random or does the bank manager’s son suspiciously keep winning? Do you even get to see the winners? 🕵️‍♂️

With PoolTogether all of this information is visible on the blockchain. The smart contracts that underly the protocol are able to be audited by anyone and have already been publicly audited by reputable firms like OpenZeppelin.

Here’s a great interview with PoolTogether co-founder, Leighton Cusack that answers a lot of the most frequently asked questions about the protocol 👇

Now, I’m sure you’re wondering...

What about the free NFTs?

If you’ve stuck around this long, you’re probably interested in the NFT prizes I mentioned above. Well, you’re in luck. Starting March 21st and running for 8 weeks, PoolTogether is giving away free NFTs powered by Project Galaxy. Each NFT is earned by completing a weekly mission 🏅

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The first weeks mission is super simple: deposit (or have already deposited) some USDC on Polygon. You can learn more here. And a reminder, if you want to learn how to go from fiat to Polygon to PoolTogether, I’ve got a video that explains how to do just that! 👇

So there you have it. The perfect entry point to decentralized finance. Low risk, high reward.

Save money, win prizes, earn NFTs 🌊 🏆

Until next time  
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This post is brought to you thanks to a grant from PoolTogether

As always the opinions expressed are my own, I do not work with projects I don’t believe in, and I implore you to do your own research before investing. If you have any questions, feel free to comment below or tweet at me. If you liked what you read, considering tipping to thumbsupfinance.eth or thumbsupfinance.crypto. I’ve done a thread about how to do this 💖

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