It seems that one lucky crypto user was able to convert $ 73 to $ 43,760 by playing lottery in Ethereum PoolTogether ($ POOL) platform.
PoolTogether is “an open source and decentralized protocol for lossless competitions”. This protocol is “controlled by POOL token holders”. The protocol “automatically distributes the POOL token to everyone who inserts themselves into the protocol.”
Here is a introduction from the PoolTogether team:
“PoolTogether is a protocol for lossless price games on Ethereum. Following the example of “No loss lotteries‘ and ‘Price savings accounts“The protocol offers the opportunity to win prizes for depositing funds. Even if you don’t win, all of your deposited money will be kept. The prices are made up of the interest accrued on the deposits of all users.“
“When you join a prize pool, your money is deposited into a source of income. The source of income generates the rate of return that the prices consist of. The protocol currently supports two different sources of income: Compound.Finance and yEarn vault... “
“Once you have entered the pool, you will still be eligible for future prizes. You don’t need to take any further action. You are authorized until you withdraw the deposited money …“
“You don’t have to claim your winnings. If you win, your winnings will automatically be converted into tickets, increasing your chances of winning!… ”
“Your chances of winning depend on how much money is in the pool. For example, if there are 1,000 dai in the pool and you deposit 1 dai, you will get 1 ticket. Your chance of winning would be 1 in 1,000.“
PoolTogether co-founder Leighton Cusack said someone deposited $ 73 on March 14, 2020 and won $ 43,760 on April 9, 2021.
392 days ago someone deposited $ 73 into PoolTogether. Yesterday they won $ 43,760 just by saving their money.
Therefore @PoolTogether_ will be the ramp for normal people in DeFi.
– Leighton Cusack (@ lay2000lbs) April 10, 2021
The PoolTogether website mention, that Using the protocol carries significant risks of losing some or all of your funds. The two main risks are the risk of protocol dependency and the risk of exploiting smart contracts.