Audio from the September 27, 2022 installment of “Polygon Alpha” with Leighton Cusack - Co-founder of the PoolTogether Protocol.LinkTree - https://linktr.ee/polygonalphapodcastPolygon Alpha Shorts - https://tinyurl.com/PolygonAlphaShortsYouTube - https://www.youtube.com/c/PolygonTVApple - Follow the show on Apple Podcast!Spotify - Follow the show on Spotify!RSS feed - https://api.substack.com/feed/podcast/863588.rssPoolTogether Protocol - PoolTogether is a prize savings protocol, enabling you to win by saving. - Deposit USDC for a chance to win - Participate in daily prize draws - Withdraw your deposit any time - even if you don't win! - Every dollar you deposit gives you a chance to win prizes. The more you save, the higher your odds! - PoolTogether is one of the first and most widely used DeFi (Decentralized Finance) applications and has been live for over three years. - Since its inception, the protocol distributed over $5 million in prizes to depositors. The luckiest winner so far deposited $74 and won over $40,000. - This is possible because prizes are made up of the interest that accrues on all deposited funds: ? Users deposit into the network ? Yield accrues on all deposits ? The yield is randomly awarded as prizes to the users. - PoolTogether is a Prize Linked Savings account powered by the blockchain. It's: a) Provably fair - Prize draws at PoolTogether are transparent: anyone can confirm who won, when, and why. b) Globally accessible - The protocol empowers everyone to save. It offers a level playing field where every user enjoys the same conditions. c) Fully non-custodial - No one but you has access to your deposited funds. PoolTogether is non-custodial, meaning users can redeem their money from the pool at any time. d) Open-source & secure - The protocol is made up of computer software: smart contracts living on the blockchain. The code is open-source for everyone to verify and validate. On top of that PoolTogether undergoes regular audits. e) Decentralized - PoolTogether is user-owned and user-driven. Control over the protocol rests in the hands of the community holding the POOL token. Find out more about governance - Prizes are generated on the interest earned on deposited funds. - When a deposit is made into PoolTogether that deposit is automatically routed to other decentralized finance protocols like Aave to begin earning interest. - Protocols like Aave are "fully liquid" meaning deposits can be withdrawn at any time. - Additionally, interest accrues every ~15 seconds. Anyone who borrows from Aave must deposit collateral that is greater in value than what they are borrowing. - This ensures that loans are never defaulted on. - PoolTogether is a non-custodial protocol. - That means no one has the ability to control the funds deposited. - All deposits and withdraws are conducted automatically by the smart contracts making up the PoolTogether protocol.Host: Justin Havins aka Crypto TexanAV Engineer: Aaron PettijohnPolygon official channel:Website: polygon.technologyTwitter: twitter.com/0xPolygonTelegram Community: t.me/polygonofficialTelegram announcement: t.me/PolygonAnnouncementsReddit: www.reddit.com/r/0xPolygon/Discord: discord.com/invite/polygonFacebook: www.facebook.com/0xPolygon.Technology/ This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit polygonalpha.substack.com