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PoolTogether
p/pooltogetherWin money every week just by saving money
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Leighton Cusack

PoolTogether V2 - A no-loss, savings game powered by blockchain

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Buy a ticket for a chance to win, if you don’t win, you get all your money back. This is possible because PoolTogether uses the interest earned on ticket purchases to fund the prize -- changing money spent into money saved.

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Rachlol
Just bought $10,000 worth of lottery tickets. I give this 5 stars!
Chris Kaczor
@rachlololol One of great things about Ethereum is transparency and fact that everyone can verify that you're lying ;) Here's a list of all transactions to the lottery contract. https://etherscan.io/tokentxns?a...
Rob "Crypto Bobby" Paone
First of all, congratulations on this. Such a fantastic idea and great implementation of DeFi. At the surface, this looks like a fair implementation of a "lottery". One thought is the duration of the lotteries IE having longer lasting lotteries so that the Compound pool earns more interest and has a larger prize. Someone should build a Twitter bot for this to show the winners and how much they'll make! Awesome job with this.
Matt Gardner
Love the idea but don't love that it's crypto-backed. As soon as I saw "smart contract" in the video I was like, dang. You could do this with fiat. Why do things need to be crypto? It just makes it less approachable to people and more risky-seeming even if crypto enthusiasts have faith. It's also backed by a coin I've never heard of and using another crypto platform (compound) to generate the interest. Too much.
Trenton Van Epps
@thatmattgardner the entire point is that it doesn't require third parties to custody the funds. all ticket purchases, interest accrual, and payouts occur without having to trust the operators. you couldn't do this with legacy systems / fiat and without smart contracts (aka persistent scripts). It uses DAI, which is a soft pegged asset that tracks USD and lives onchain.
Jérémy Chevallier
Reminds me of rewards based savings accounts!
Leighton Cusack
Maker
I know, if you're not already onboarded to the crypto ecosystem it's pretty hard to use. This article might help: https://medium.com/pooltogether/... Thanks for the encouragement!
Obiajulu Onyema
Great Product @lay2000lbs . This is an amazing use for Blockchain technology. I hope that this product get's the attention that it truly deserves. It is a huge win for the Blockchain ecosystem and I believe that it will bring many people to Crypto. I agree with @crypto_bobby. If a Twitter bot can be created, that will add a great layer of transparency. Great #Buidl
Sam Sexton
While you don't lose DAI for playing, The cost of exchanging your ETH for DAI (and back again) will mean that most people will make some net loss, even if it's not significant. You only make a net profit if you stay in long enough to see a win, which may never happen. So if you buy a ticket, you now have a sunk cost and that 20 DAI you put in is essentially trapped unless you're willing to take it out along with another exchange fee. Let me know if i've misunderstood this.
Leighton Cusack
Maker
@samsexton Yes, good point. The "no loss" is really referring to how it operates compared to a normal lottery. But there are transaction fees the user has to pay. We are exploring alternative distribution mechanisms that shift this.
Ethereum Kev
@samsexton @lay2000lbs maybe Austin Griffith's Burner Wallet?
Gopi Subbaraj
because running something like this in fiat is illegal :)
Shakks
This is why i love Ethereum Ecosystem. So much value being created
Osama Shihab Fitoria
Interesting concept, slick UI and excellent traction in a short time. Well done
Olivier Ifrah
Clicking `Join the Poll` on your landing page should direct me to exactly what I need to do to join. Very unclear, but I love the concept!
Leighton Cusack
Maker
@olivier_ifrah sorry, meant to write the below as a response to you.
Ethereum Kev

Can't wait for more pools

Pros:

Incentivizes saving and gives you a chance to win $DAI

Cons:

So far, no cons

Zha Ji
Why havenot banks used this for normal savings account incentives?
Andrew
I like Ethex bet, not a scam btw
Medici
doesnt really attract a newbie like me, only tried a few small bets on ethexbet (which is noob friendly) and this one doesnt seem to be interesting, at least for me. the ticket system is kinda strange
Andrew
Guys you should go for ETHEX bet. its much more better