A Deep Dive into PoolTogether

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    PoolTogether is a decentralized finance (DeFi) platform that combines the concept of a traditional savings account with a lottery. It was founded in 2019 and built on the Ethereum blockchain. Users deposit cryptocurrency into a shared pool, which is then used to purchase interest-bearing assets. Interest earned from these assets funds a weekly lottery in which a randomly selected user wins a prize.

    The platform aims to provide a fun and engaging way for people to save money while offering the chance to win a potentially significant prize. It has gained popularity in the DeFi space and has been recognized for its innovative approach to traditional savings accounts. The platform has a transparent and auditable design, and users retain control of their funds throughout the process.

    The analyzed data provides insight into user behavior on the platform, with information on the volume and frequency of transactions and the distribution of rewards. It shows that most users engage in low-value transactions and hold their position for less than one week. Most users have not won a prize, but a small number have earned significant rewards. These findings provide valuable information for investors and developers looking to optimize the platform's design and user experience.

    Method

    This analysis is based on data extracted from the "fact_event_logs" table in the "optimism.core" database. The data is filtered based on certain conditions, such as the origin and destination addresses, event name, and specific input values. The analysis focuses on four different types of events: "Transfer", "Mint", "Withdraw", and a specific type of "Transfer" where the sender is the specific address being analyzed.

    The time frame for the analysis is weekly, as indicated by the "block timestamp" field. The data is aggregated by week and includes metrics such as the number of distinct transactions, number of distinct users, USD volume, average amount, maximum amount, and median amount. Overall, this analysis provides a comprehensive view of the activity related to the pool together being analyzed on the Optimism network.