POOL
ShitCoin
Reputation Ratings

POOL

PoolTogether 2-5 years
Website https://pooltogether.com/
Browser
OTH RELPs
White Paper
Avg Price
-0.02%
1D

$ 16.40 USD

$ 16.40 USD

Market Cap

$ 4.027 million USD

$ 4.027m USD

24h trading volume

$ 0 USD

$ 0.00 USD

7d Vol

$ 14,050 USD

$ 14,050 USD

Circulating supply

0.00 0.00 POOL

Related information

Issue Time

2021-02-18

Platform pertained to

--

Current price

$16.40USD

Market Cap

$4.027mUSD

Volume of Transaction

24h

$0.00USD

Circulating supply

0.00POOL

Volume of Transaction

7d

$14,050USD

Change

24h

-0.02%

Number of Markets

18

Token conversion

/

Current Rate0

Available

0.00USD

Calculate

WikiBit Risk Alerts

1
Previous Detection 2024-03-28

WikiBit has marked the token as air coin project for we have received overwhelming complaints that this token is a Ponzi Scheme. Please be aware of the risk!

Historical Price

Introduction

Markets

3H

-0.56%

1D

-0.02%

1W

+18.35%

1M

+92.05%

1Y

-41.78%

All

-41.78%

Aspect Information
Short Name POOL
Full Name PoolTogether
Founded Year 2019
Main Founders Leighton Cusack, Brendan Asselstine, Chuck Bergeron
Support Exchanges Coinbase, Binance, Kraken, Bithumb, Huobi, Uniswap, Sushiswap, Gate.oi 1inch, OKEx
Storage Wallets Metamask, WalletConnect, Rainbow, Coinbase Wallet, Argent, Ledger Live, Taho, Trust Wallet and Zerion
Customer Support Lens, Twitter, Discord, GitHub, Medium, Mirror

Overview of POOL

The POOL token, also known as PoolTogether, is a decentralized finance (DeFi) application that was launched in 2019. It was founded by Leighton Cusack, Brendan Asselstine, and Chuck Bergeron. The primary function of the POOL token is to facilitate the operation of a protocol for no-loss prize games which is built on the Ethereum blockchain. Users deposit funds into the PoolTogether application which are then lent out via Compound, generating interest. This collected interest forms the 'prize' for one lucky participant. The selection of the prize recipient is governed by a secure and randomized algorithm. The token holders also have the ability to govern the future direction of the protocol in a democratic and decentralized manner. The POOL tokens can be stored in digital wallets such as MetaMask or Ledger, and are available for trade on cryptocurrency exchanges including Binance, Huobi, and Uniswap.

overview

To obtain more information, you can visit their website:https://pooltogether.com/zh and try to log in or register to use more services.

Pros and Cons

Pros Cons
No-loss prize games Dependence on Ethereum blockchain
Decentralized decision-making Uncertain market value
User interest income potential Risk due to third-party integrations
Available on multiple exchanges Digital only storage

Pros:

1. No-loss Prize Games: One of the biggest advantages of the POOL token is the no-loss prize games. In these games, users deposit funds into the PoolTogether application. These funds are then lent out via Compound, thus generating interest. The interest collected forms the prize that one lucky participant receives. The original funds deposited by the users always remain intact.

2. Decentralized Decision Making: The governance of the PoolTogether Protocol is democratized, allowing POOL token holders to have a say in the future direction of the protocol. This decentralized decision-making process contributes to the transparency and fairness of the protocol.

3. User Interest Income Potential: Users have the potential to earn interest income from the funds they deposit for participation in the prize games. This stands as a potential benefit for the users.

4. Available on Multiple Exchanges: The POOL token can be acquired from multiple exchanges including Binance, Huobi, and Uniswap. This widespread availability makes it easier for potential users to obtain the token.

Cons:

1. Dependence on Ethereum Blockchain: The POOL tokens are based on Ethereum blockchain, which means their function and value depend heavily on the Ethereum ecosystem. Any issues or volatility with Ethereum could potentially impact the POOL token.

2. Uncertain Market Value: As with all cryptocurrencies and tokens, the market value of POOL is uncertain and subject to fluctuations which may result in potential loss for the holders.

3. Risk due to Third-Party Integrations: The PoolTogether protocol interacts with other DeFi protocols like Compound to generate the 'prizes'. This interaction with third-party protocols introduces a layer of risk, as any issues or failures within the third-party protocol could impact PoolTogether's operation.

4. Digital Only Storage: The POOL tokens can only be stored in digital wallets, like MetaMask or Ledger. The lack of physical or offline storage may be seen as a downside by some as it introduces issues related to cyber security.

What Makes POOL Unique?

The POOL Token, part of the PoolTogether protocol, introduced innovative elements in the DeFi space by combining elements of traditional savings systems with the benefits of cryptocurrency and the principle of a lottery.

Traditionally, in a lottery, only one participant reaps the rewards while others lose their investment. The PoolTogether protocol subverts this model through the concept of a no-loss prize game. Users deposit funds into the PoolTogether application and these funds are then lent out via Compound, a DeFi lending protocol. The interest generated is what becomes the 'prize' for the game, but the main principle remains intact: no individual loses their initial deposit. This introduces an entirely different dynamic to the conventional lottery model, creating an incentivized saving system.

Another key differentiator from other cryptocurrencies is its governance model. Ownership of POOL tokens equates to having a voice in the decision-making process regarding protocol modifications. This grants users a direct influence over the application's operational and strategic direction, further expanding its decentralized nature.

However, it's important to note that being reliant on the Compound protocol and the Ethereum blockchain, POOL is inherently exposed to the risks and challenges that these platforms may face.

This mechanism differentiates POOL from other cryptocurrencies that typically function more as digital assets, or as utility tokens within a specific platform or application, rather than facilitating a novel approach to incentivized saving and decentralized decision-making as the PoolTogether protocol does.

Market & Price of POOL

Airdrop of POOL

The PoolTogether coindrop was held on September 9, 2021, and distributed approximately 200,000 POOL tokens to eligible participants. To be eligible for the coindrop, users had to have deposited at least $1 into a PoolTogether lottery prior to the snapshot date. The coindrop was designed to reward early adopters of PoolTogether and to encourage further participation in the protocol.

The PoolTogether coindrop was a success, with over 100,000 users claiming their POOL tokens. The coindrop helped to raise awareness of PoolTogether and to increase the protocol's total value locked (TVL). POOL tokens have since been listed on several major cryptocurrency exchanges, and the token's price has risen significantly.

Price

The POOL token operates as part of the PoolTogether protocol, which is essentially a no-loss savings game on the Ethereum blockchain. The working mode and principle behind POOL follows a unique approach combining elements of lottery systems and decentralized finance applications.

The price of POOL, the native token of the Solana decentralized exchange Serum, has been fluctuating significantly in recent months. As of September 15, 2023, POOL is trading at around $1.20, down from a high of over $3 in January 2023.

The total circulating supply of POOL is 100 million tokens. There is no mining cap for POOL, so the supply could theoretically increase indefinitely. However, the Serum team has said that they will implement measures to control the supply if necessary.

How Does POOL Work?

POOL is the native token of the Serum decentralized exchange (DEX). It is used to pay for transaction fees on the exchange, to participate in governance, and to stake for rewards.

POOL is earned by liquidity providers (LPs) who stake their tokens in Serum's liquidity pools. LPs earn a share of the trading fees generated by the pool, as well as a portion of the newly minted POOL tokens.

To stake POOL, you can deposit it into a liquidity pool. There are a variety of liquidity pools available, each with different tokens. When you deposit your POOL into a liquidity pool, you are essentially lending it to the pool so that it can be used to facilitate trades.

POOL is a relatively new token, so it is still subject to a lot of volatility.

Exchanges to Buy POOL

Below are some well-known exchanges which support purchasing POOL tokens.

Coinbase: A popular digital currency exchange platform that provides a user-friendly experience for buying, selling, and storing cryptocurrencies.

Step Action
1 Sign up and download the Coinbase app. Provide a valid ID and proof of address.
2 Navigate to the “Trade” tab.
3 Search for PoolTogether by typing “PoolTogether” into the search bar. Click the “Trade” button.
4 Enter the amount of ETH you wish to trade for PoolTogether.
5 Select “Preview DEX trade” and review the details of your purchase. Click “Trade now” to confirm.
6 Transfer ETH from your primary wallet to your newly created web3 wallet.
7 Approve spending of ETH in your web3 wallet.
8 Complete the trade for PoolTogether.

See this link for details on how to buy POOL:https://www.coinbase.com/how-to-buy/pooltogether

Binance: One of the largest cryptocurrency exchanges with a wide range of trading options and innovative features, offering a diverse selection of cryptocurrencies.

Step 1 Create a Binance Account Register on the Binance website or app and complete the ID verification.
Step 2 Choose Payment Method Select how you want to buy POOL - options include credit/debit cards, bank deposits, or third-party payments.
Step 3 Check Payment Details Review payment details and fees. Confirm your order within the specified time.
Step 4 Store or Use POOL After purchase, store your POOL in your Binance account or transfer it to a personal wallet.
Step 5 Explore trading or staking options for potential earnings

See this link for details on how to buy POOL:https://www.binance.com/en/how-to-buy/pooltogether

Kraken: A reputable and secure cryptocurrency exchange known for its advanced trading features, robust security measures, and extensive selection of trading pairs.

Bithumb: Bithumb is a major South Korean cryptocurrency exchange that supports a variety of cryptocurrencies and provides a user-friendly trading platform.

Huobi: Huobi is another digital currency exchange that allows users to purchase POOL tokens. The pairs available on this platform include POOL/USDT and POOL/BTC.

Uniswap: Uniswap, a decentralized exchange, also supports POOL with several pairs. The most prevalent pairs are against Ethereum (POOL/ETH), as Uniswap operates on the Ethereum blockchain.

Gate.io: Gate.io is a cryptocurrency exchange that offers a straightforward platform for trading a variety of digital assets and tokens.

Sushiswap: As another decentralized exchange, Sushiswap also lists POOL. It primarily supports the POOL/ETH pair.

1inch: The 1inch platform, known for aggregating several DEXs, lists POOL and permits trades involving major cryptocurrencies like POOL/ETH and POOL/USDC.

OKEx: OKEx exchange accommodates the trading of POOL tokens. The exchange platform supports the POOL/USDT trading pair.

Exchanges to Buy POOL

Please note that available trading pairs can change frequently, and it is always best to check the current pairs directly on the exchange.

How to Store POOL?

MetaMask: MetaMask is a popular browser extension wallet that allows users to store, send, and receive Ethereum and ERC-20 tokens. It also enables users to interact with decentralized applications (dApps) and decentralized exchanges (DEXs) directly from their browser.

WalletConnect: WalletConnect is an open-source protocol that enables secure communication between mobile wallets and desktop-based DApps. It allows users to connect their mobile wallets, such as MetaMask or Trust Wallet, to a DApp running in their desktop browser.

Rainbow: Rainbow is a mobile cryptocurrency wallet available on iOS and Android. It supports various protocols, including Ethereum, Bitcoin, and ERC-20 tokens, and offers features like easy onboarding, multi-chain support, and decentralized application integration.

Coinbase Wallet: Coinbase Wallet, formerly known as Toshi, is a mobile wallet developed by Coinbase. It allows users to store, manage, and interact with a wide range of cryptocurrencies and decentralized applications. It also enables users to connect to decentralized exchanges and perform token swaps.

Argent: Argent is a mobile Ethereum wallet with a focus on simplicity and security. It offers features like easy onboarding, one-tap DeFi access, and guardian recovery, which allows users to recover their wallet with the help of trusted friends or family members.

Ledger Live: Ledger Live is the official software application provided by Ledger for managing and interacting with Ledger hardware wallets. It allows users to securely store and manage their cryptocurrencies, as well as access various blockchain services and applications.

Taho: Taho is a community-owned and operated web3 wallet that is designed to be easy to use and accessible to everyone. It supports a wide range of cryptocurrencies and tokens, and it can be used to interact with a variety of web3 applications.

Trust Wallet: Trust Wallet is a mobile wallet for iOS and Android that supports a wide range of cryptocurrencies. It offers features such as decentralized exchange integration, staking, and a built-in DApp browser.

Zerion: Zerion is a DeFi portfolio management and decentralized finance (DeFi) platform. While it doesn't function as a standalone cryptocurrency wallet, it integrates with popular wallets like MetaMask and Coinbase Wallet to provide users with a comprehensive overview of their DeFi holdings and activities.

How to Store POOL?..png

It should be noted that no matter which type of wallet you choose, securing private keys and adhering to standard security practices is essential to ensure the safety of your assets.

Is POOL Safe?

Open-source smart contracts: The code for PoolTogether's smart contracts is publicly available for anyone to review and audit. This transparency allows for a greater level of scrutiny and helps to identify potential security vulnerabilities before they can be exploited.

Regular audits: PoolTogether undergoes regular audits by independent security firms to ensure that its smart contracts are secure and free from bugs. These audits provide an additional layer of assurance and help to maintain the integrity of the protocol.

Decentralized governance: PoolTogether is governed by its community of token holders, who vote on proposals to improve the protocol. This decentralized approach helps to ensure that the protocol remains aligned with the interests of its users.

Bug bounty program: PoolTogether offers a bug bounty program to incentivize the disclosure of security vulnerabilities. This program helps to identify and address potential problems before they can be exploited by malicious actors.

How to Earn POOL?

Here are a few ways to earn PoolTogether (POOL) tokens:

Participate in no-loss lotteries. This is the main way to earn POOL tokens. By participating in no-loss lotteries, you have a chance to win the entire prize pool, even if you don't win the lottery. In addition, all participants earn a small amount of POOL tokens simply for participating.

Provide liquidity to PoolTogether's DEX. PoolTogether's DEX allows users to trade POOL tokens for other cryptocurrencies. By providing liquidity to the DEX, you can earn fees from trades.

Stake POOL tokens. PoolTogether allows users to stake POOL tokens to earn a yield on their tokens. The yield is paid out in POOL tokens, so you can earn even more POOL tokens by staking your existing tokens.

Earn rewards as a liquidity provider. When you provide liquidity to PoolTogether's DEX, you earn a share of the trading fees generated by the DEX. These fees are paid out in POOL tokens.

Earn rewards as a staker. When you stake POOL tokens, you earn a share of the yield generated by the staking pool. This yield is paid out in POOL tokens.

Earn rewards as a bug bounty hunter. PoolTogether offers a bug bounty program for anyone who can find a bug in its smart contracts. Bug bounties are paid out in POOL tokens.

Whether it is possible to make money with PoolTogether depends on a number of factors, including the price of POOL tokens, the number of people participating in lotteries, and the fees charged by the DEX. However, PoolTogether has a strong track record of paying out rewards to its users, and it is possible to make money by participating in lotteries, providing liquidity, and staking POOL tokens.

Conclusion

The POOL Token, part of the broader PoolTogether protocol, exhibits an innovative approach to decentralized finance, combining traditional lottery systems with effective saving schemes. The tokens, designed for no-loss prize games, are developed on the Ethereum blockchain and offer token holders an opportunity to earn potentially lucrative prizes from interest generated by combined deposits.

In terms of development prospects, the increasing interest in decentralized finance (DeFi) projects could positively influence the POOL token's potential growth. As more investors become comfortable with and aware of the benefits offered by DeFi applications, this could indirectly boost the reception and adoption of POOL. Additionally, token holders feel a sense of ownership and direct influence over the protocol's future, further pushing the token's prospects.

Despite these promising advantages, investing in cryptographic assets like POOL is not without risks. The inherent volatility of the crypto market can lead to drastic price fluctuations that could either lead to profits or losses. The value of POOL tokens is dictated by supply and demand dynamics within the market, and its appreciation or depreciation is not guaranteed. Furthermore, reliance on the Ethereum blockchain also brings about further risk.

Prospective investors should thoroughly research and consider these facts, and approach experts when necessary, before making the decision to invest in POOL tokens. Owning crypto assets like POOL is typically viewed as a speculative endeavor rather than a guaranteed way to make money.

FAQs

Q: Where can I purchase POOL tokens?

A: POOL tokens are available on multiple exchanges, like Binance, Huobi, Uniswap, Coinbase Pro, and others.

Q: Which wallets support storage of POOL tokens?

A: Wallets supporting storage of POOL tokens include software wallets (MetaMask, MyEtherWallet), hardware wallets (Ledger), as well as mobile and web wallets (Trust Wallet, MyEtherWallet).

Q: What principle underlies the workings of POOL?

A: POOL operates on a no-loss prize game principle where users' combined deposits generate interest forming the lottery 'prize', while ensuring the safety of their principal investment.

Q: How could the value of POOL tokens fluctuate?

A: The market value of POOL tokens can change due to the volatility of the crypto market and the dynamics of supply and demand.

Q: Are there risks involved in investing in POOL tokens?

A: There are inherent risks associated with investing in POOL tokens, including market volatility, potential technical issues within the Ethereum blockchain, and risks related to third-party protocol integrations.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

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