It works similarly to PoolTogether, an Ethereum protocol for no-loss money games. By depositing crypto into a “pot”, you’ll automatically gain interest and enter into a weekly prize draw. Your deposit is your ticket for the lottery. So there’s a chance to win big-money prizes paid out in crypto from the pot you enter.
The current main pot is a $CAKE pot. At the time of writing, $9.97M worth of $CAKE is locked in this pot. You can deposit your $CAKE tokens in it with a 101.54% APY, meanwhile having a chance to become 1 of the final 5 lucky draw winners. The prize draw values $47,129. Each winner will receive 255.055 $CAKE and 5000 $DODO tokens.
Moonpot’s prize is slightly more than the pool with the highest weekly prize in PoolTogether.
Currently, the pool with the highest weekly prize is the USDC pool in PoolTogether with $45,366 prizes split evenly among 5 winners.
Just live for 9 days so far, Moonpot’s on-chain data have shown an upward trend. If you’d like to participate in this win-win lottery pool, you can monitor Moonpot’s users and volume to check its performance.
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