Buy PoolTogether (POOL)
What is PoolTogether?
PoolTogether is a no-loss, audited savings game powered by blockchain technology. It allows users to stake cryptocurrency into lottery pools for a chance to win a significant weekly prize pool, which is composed of accumulated staking fees. Users can withdraw their full original deposit even if they don’t win. This system combines the thrill of a lottery with the security of savings, encouraging users to save funds while offering chances to win rewards.
How does PoolTogether work?
PoolTogether operates as a no-loss prize savings protocol on the Ethereum blockchain. Users deposit cryptocurrency into various prize pools. These funds are then invested into DeFi lending platforms or other yield sources to generate interest. The interest accrued is pooled together and periodically distributed as prizes to random winners through a secure, tamper-proof mechanism using Chainlink VRF for random number generation. Depositors can withdraw their full initial deposit at any time, ensuring no loss of principal.
What are the potential use cases for PoolTogether?
Potential use cases for PoolTogether include:
- Savings and Financial Inclusion: Encouraging savings by making it engaging can benefit those who find it difficult to save.
- DeFi and Yield Farming: Integration with DeFi platforms to generate yields on deposited funds.
- Cross-Chain Interoperability: Enhanced interoperability among blockchain networks due to contributions to standards like ERC-5164.
- Community Engagement: Platforms for engaging savings communities which contribute to financial education and inclusion.
- Alternative to Traditional Lotteries: Offering a fair and loss-free alternative to conventional lottery systems.
What is the history of PoolTogether?
PoolTogether was launched in 2019 by a team that included founder Leighton Cusack. It was created to offer a transparent, no-loss alternative to savings and lotteries. Since its inception, the protocol has attracted over 86,000 unique wallets, facilitating savings and awarding substantial prizes. The project emphasizes community engagement and innovation, offering grants for developers to extend the ecosystem. Over time, it has evolved to include multiple prize pools, expanded blockchain support, and enhanced user interfaces. Its market impact includes significant market cap and total value locked (TVL), reflecting its presence in the DeFi sector.
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Frequently Asked Questions (FAQs)
What is the current price of PoolTogether (POOL)?
The PoolTogether price is $0.88270342 AUD, representing a -10.33% from the day prior.
Where is the best place to buy PoolTogether (POOL) in Australia?
The best place to buy PoolTogether (POOL) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell PoolTogether (POOL) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of PoolTogether (POOL)?
The trading volume of PoolTogether (POOL) is $17.2K AUD in the last 24hrs, representing a -10.33% from the day prior.
How can I buy PoolTogether (POOL)?
PoolTogether (POOL) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of PoolTogether (POOL)?
The current market cap of PoolTogether (POOL) is $6.3M AUD.
Can I convert PoolTogether (POOL) to cash?
Yes - With Coinstash you can convert your PoolTogether (POOL) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many PoolTogether (POOL) are there?
The current circulating supply of PoolTogether (POOL) is 7.2M.
Is Coinstash a safe place to buy PoolTogether (POOL) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling PoolTogether (POOL) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.