If you have a few DAI and you don't know what to do with it, PoolTogether is an interesting option because you have a chance to win over $1000 for every 1 DAI you deposit into a "saving pool".
PoolTogether is kind of a lottery ticket, but it is a no-loss savings game. Pooltogether offers crypto lottery tickets, so you "buy" a ticket with DAI for a chance to win prizes.
But what is the catch?
No catch. If you win or not, you get to keep all your money and you can take out your money at anytime!
Because the prize money is funded by the interest earned on ticket purchases.
How does it work?
"Saving pool" has a "Sponsored" DAI that is locked in and earning interest, and users are joining into this pool by putting their DAI into it so the interest gets bigger and earn more interest.
Every week prize is awarded and one lucky person will take all the interest that has accrued.
Ready to join?
Go to pooltogether website here. "JOIN THE POOL"
Connect your wallet.
"Connect Wallet" will display a list of wallets so pick your wallet.
Once wallet is connected, Click "Join the Pool".
Click "Max" or type in how many tickets you want to "buy".
And "Buy tickets".
"Enable DAI" and it's ready to "Purchase tickets".
"Purchase tickets" will send a request to your wallet so confirm payment on your wallet app.
Once the transaction is confirmed, you are in the pool and just sit and wait.
A winner gets picked every week, but you don't need to "buy" tickets every week because it is a "saving pool" so once you are in, you are in for all future prizes until you withdraw.
Account page will show you more information about your tickets, chances and prize.
If you win, you will receive an email and you can see it on your account.
(you tickets are eligible to win prizes after a week)
Prizes are different every week.
And you can see your chance of wining and details on "Prizes" page.