December 5, 2021

‘No loss’ lottery protocol PoolTogether among most utilized protocols in DeFi: Messari

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Data published by crypto analytics provider Messari indicates that PoolTogether’s V3 no-risk lottery platform has amassed more than 6,000 users since launching in October.

Messari asserts that PoolTogether’s user base ranks it “one of the most utilized protocols” in DeFi excluding decentralized exchanges.

To date, PoolTogether’s V3 has garnered over 6,000 continuous lottery players, making it one of the most utilized protocols excluding DEXs pic.twitter.com/KLK2K63pRl

— Messari (@MessariCrypto) March 23, 2021

In a separate report published on March 23, Messari notes PoolTogether V3 has amassed a $134 million TVL since launching incentives for liquidity providers, ranking the platform as the 30th-largest DeFI protocol above Hegic and PieDAO. 

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 holdTitle: ‘No loss’ lottery protocol PoolTogether among most utilized protocols in DeFi: Messari
Sourced From: cointelegraph.com/news/no-loss-lottery-protocol-pooltogether-among-most-utilized-protocols-in-defi-messari
Published Date: Wed, 24 Mar 2021 04:59:33 +0000