When We (3,3) Together, We Win Together! PoolTogether x Chainlink x Olympus
As you all know, our mission at OlympusDAO is to continuously create value for our community and discover new opportunities to create an inclusive, empowering, and decentralized financial infrastructure. In the true nature of this mission and in the spirit (3,3), we’re excited to announce a new savings pool combined with a no-loss prize game that gives a unique opportunity for those with fortune on their side.
We bring you (3, 3) Together! A provably fair no-loss raffle powered by Chainlink and PoolTogether.
Introducing: (3, 3) Together
(3, 3) Together is a new prize pool created via PoolTogether. PoolTogether is a protocol for creating, running, and managing no loss prize savings games that allows you to deposit for a chance to win prizes, and even if you don’t win, you keep all your coins. It also integrates with Chainlink, the industry-leading decentralized oracle network, by leveraging the VRF function to securely and transparently determine a winner.
How it works:
The 3,3 Together prize pool specifically uses staked OHM ($sOHM) rewards to generate yield for the prize during a 3-day drawing period. Meaning instead of receiving your normal rebase rewards, that yield will go directly into the pot for one big prize for three lucky OHMies. Plus, the beauty of using $sOHM is that the prize pool continuously grows with every epoch!
Deposit your sOHM to have a chance to win now!
If you don’t win, you can leave your $sOHM in the pool and try again for the next drawing or withdraw the original amount you put in. However, to prevent Ohmies from entering right before the drawing and immediately withdrawing, there’s a 3% early exit fee. To avoid the fee, all you need to do is stay in the pool for 6 days (or 2 drawings).
At drawing time, the 3,3 Together prize pool utilizes Chainlink VRF as the random number generator (RNG) solution to randomly select winners in a provably fair and unbiased manner. Chainlink VRF provides cryptographically secure, tamper-proof randomness that cannot be manipulated by any user, node operator, or malicious actor. By using Chainlink, we can ensure Ohmies with the most-reliable, trustworthy and fair outcomes for every 3-day drawing. Read more about our integration with Chainlink here.
To summarize, like many PoolTogether prize pools, you’re:
- Saving your tokens with a chance to reward you and your frens.
- Eligible to win until you withdraw.
- Guaranteed a provably random and fair outcome via Chainlink VRF
- Able to withdraw your deposit at any time.
We’re ecstatic to add this to the Olympus ecosystem because it provides a new opportunity for Ohmies to not only save their $sOHM, but a fun way to win even more $sOHM if they’re lucky.
For more info, make sure to check out the (3, 3) Together AMA!
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
PoolTogether is a crypto-powered savings protocol based on Premium Bonds that enables users to save money and have a chance to win lottery draws every week.
Olympus is a decentralized financial reserve protocol that provides sustainable compounding interest through its community-owned and protected treasury. With the latest release of Olympus Pro, they offer protocol-owned liquidity as a service to empower the DeFi ecosystem.