No Loss Lottery
Our no-loss savings game that utilizes $BOND is a start to a fruitful relationship with PoolTogether. Users enter the pool by staking the tokens & should stay invested until the winner is determined and earns the interest from the pool while everyone keeps their principal.
A fun way to think of this is a $BOND savings account that you use to play a savings game but your principal is not a part of the savings game. Instead, the interest earned from your principal is what the winnings of the savings game are derived off of.
Some of the contracts were created by PoolTogether and they govern what is hosted on their platform. What we build into it longer-term can be governed by the BarnBridge DAO. However, as of right now, this is an experiment for the community.
The Community Reward Pool has been set up by the BarnBridge founders and the weekly prize in this pool is drawn from BOND Community Rewards.
Each week, the protocol randomly chooses one winner who gets the entire prize. To maintain fairness, a time decay mechanism has been implemented where exiting the pool before 7 days have elapsed will result in a 10% early exit fee being charged. To avoid paying this fee, stay in the pool for at least 7 days.
The BarnBridge DAO Staking Pool collects the funds of depositors and stakes them in the BarnBridge DAO Staking contract.
The accrued interest is then awarded to 3 random winners while everyone keeps their deposits.
Last modified 1yr ago