‘No Loss’ lottery Protocol PoolTogether has been added among the most used Protocols in DeFi- Messari

Over $750,000 in a free-lottery returns,  has been paid by Pooltogether, since it launched its V3 iteration in October

More than 6,000 users have been amassed by Pooltogether in its V3 no risk lottery as provided by Crypto analystics Messari.

V3 iteration has been ranked as one of the most utilized protocols, in Defi, which excludes the decentralized exchanges by PoolTogethe’s, users as asserted by Messari .

Pooltogether V3 has amassed a $134 million TVL since launching incentives for liqiduity providers in a separate report published on March 23, by Messari. The platform ranks as the 30th-largest DeFi protocol above PiedAo and Hegic.

PoolTogether offers risk-free stablecoin lotteries by using ticket-buyers’ and liquidity providers’ capital to generate interest using decentralized lending protocols. The winner of a lottery collects the majority of accrued interest, with several runner-ups also typically receiving a smaller share of the yield. All other participants are refunded in full.

According to Dune Analytics, 4,593 accounts currently hold tickets for PoolTogether’s next lottery.

Messari estimates that recent weekly grand prize pool payouts have ranged from $60,000 and $90,000, with PoolTogether having paid more than $750,000 in cumulative prizes since launch.

Leave a Comment