Try Quests to earn cryptoPool Together Prizes
In this analysis, the prizes awarded in the PoolTogether platform have been evaluated over the past 2 months.
PoolTogether is an open-source blockchain protocol built on top of Ethereum providing its users with a no-loss lottery system. It is based on a concept known as "Prize-linked Savings" which offers users a chance to win prizes without needing to risk their assets. The funds for prizes are made up of the interest accumulated from the money contributed to each pool.
When a user deposits funds into PoolTogether, that deposit is automatically transferred to other decentralized finance (DeFi) protocols like Aave to begin earning interest. These protocols are fully liquid meaning deposits can be withdrawn at any time. PoolTogether is also a non-custodial protocol which means no one can control the funds deposited. All deposits and withdraws are conducted automatically through smart contracts making up the PoolTogether protocol.
The prizes were awarded through an aUSDC Ticket (PTaUSDC) contract and from a Prize Distributor address. Since no blockchain was specified, both the Ethereum and the Polygon networks were considered when querying the data.
>Ethereum aUSDC Ticket (PTaUSDC) Contract: 0xdd4d117723c257cee402285d3acf218e9a8236e1 > >Ethereum Prize Distributor: 0xb9a179dca5a7bf5f8b9e088437b3a85ebb495efe > >Polygon aUSDC Ticket (PTaUSDC) Contract: 0x6a304dfdb9f808741244b6bfee65ca7b3b3a6076 > >Polygon Prize Distributer: 0x8141bcfbcee654c5de17c4e2b2af26b67f9b9056
The prize data of the Ethereum blockchain were collected from the ez_token_transfers table of the core schema of the ethereum database. Also, the prize data of the Polygon blockchain were collected from the events_emitted table of the polygon schema.
The USDC:USD price ratio was collected from the fact_hourly_token_prices table of the core schema of the ethereum database. The price of USDC was averaged both daily and over the whole 2 months period.
Overall, the analysis of awarded prizes data has indicated that the user activity on the Polygon network has been much higher compared to the Ethereum network which confirms the higher affinity over Ethereum's counterpart. Only 28 addresses won a prize on Ethereum while there have been more than 3.6k winners on Polygon. The total awarded prize volume over the last 2 months was around 7k on Ethereum and around 270k on Polygon which shows a huge difference between the two networks. However, since the number of winners on Ethereum was lower compared to Polygon, its average prize for each winner was almost 10 times higher than Polygon. Ultimately, measuring the prizes in USD has shown almost equal values for both currencies which demonstrates a steady peg between the pair.
The daily analysis of awarded prizes has demonstrated that there have been winners on the Polygon network almost every day during the period, except for only a few days. In compliance with the overall results, the volume of daily prizes awarded on the Polygon network has been much higher compared to Ethereum. The Ethereum network either did not have a winner on most of the days, or they were awarded a smaller amount. There were only two exceptions two this general trend which happened on April 30th and May 16th when a considerable amount was awarded to the winners.
The analysis of the number of winners on each day has indicated that while Ethereum winners were 3 addresses at its high, the Polygon network has seen around 300 winners daily peaking at 600 on particular days.
The daily average prize of winners has also been following the other analyses and indicated a higher average for Ethereum compared to Polygon. This is due to the fact that Polygon has more users who had taken a larger share of the daily awarded prize.
The comparison between the prize volume in USDC and USD has been demonstrated in the chart below. As it can be seen, the prize value has been almost identical in both currencies indicating a steady 1:1 peg between USDC and USD.
In conclusion, the prizes awarded to the PoolTogether users on both Ethereum and Polygon blockchain have been analyzed over the last 2 months. The data showed a huge tendency of users over Polygon compared to Ethereum which resulted in a drastic difference between the awarded prizes on each network. Polygon has by far had the highest share of both the number of winners and the volume of awarded prizes. On the contrary, the average awarded prize was around 10 times higher on Ethereum due to fewer users of the network on the PoolTogether platform. Last but not least, the USDC:USD price comparison showed no major difference in the values and displayed a steady peg between the pair.