🎲 The No Loss Lottery -Issue 5.
Ya, really tho!
Let’s poooool this money together, and get our bread, family!
👋🏽What’s good, fam?! NahRabbits here.
It’s been a hot min since our Jan 27th issue. If you missed it, go here to peep. Issue 4 was super fun to write and is straight 🔥in our opinion! However, we are back with another one (Biggie's voice). We will be taking a quick look at a crypto project that has been dubbed, “the no-loss lottery” called PoolTogether. Don’t worry, we will explain it all below.
The Lottery vs.POOL TOGETHER
Cool Sh*ts on the intertnetz!
This issue was composed to Mac Miller's “Good Evening” ( underrated song from him) RIP 🕊️ song made in 2010.
“I hope you win the lottery and lose ya ticket”
Chance The Rapper
The Lottery, an exciting problem.
How many of us have played the lottery before and lost our bread?
🙋🏼🙋🏽🙋🏾🙋🏼🙋🏽🙋🏾🙋🏼🙋🏽🙋🏾🙋🏼🙋🏽🙋🏾🙋🏼🙋🏽🙋🏾🙋🏼🙋🏽🙋🏾🙋🏼🙋🏽🙋🏾🙋🏼🙋🏽🙋🏾
We all know the odds of winning the lottery are hella hella low.
According to CDC numbers, you are about 30,000 times more likely to get injured in your bathroom; that’s a 1 in 10 thousand chance, compared to winning the Mega Millions jackpot. DAMN.
And of course, when you lose, you don’t get your money back right?
Pool Together
The No Loss Lottery built on Ethereum.
( Remind me what Ethereum is again)
How it goes down⤵️
When you join a “pool of money” on PoolTogether, you get a chance to win some dough, but even if you don’t win, you get all ya bread back! This is possible because the money is funded by the interest accumulated from the money contributed to each pool of money. That money is a stable coin called, DAI.
WTF is a DAI?
Dai is a stable coin, launched by MakerDao that is pegged to the US dollar. This means that the value of one Dai will always be approximately $1 USD. It also has interest attached to it. Huh? We know, click that link tho, to find out more.
🔎More on how it works and looks
“One single ticket to join one of the dapp’s pool cost 1 DAI ( $1Dolla) Pooled funds are to remain locked for 15 days until a winner is randomly selected to win the prize, i.e. the interest accrued from that cycle’s pooled funds.” - PoolTogether
Soooo what are my chances of winning this Pool Together thingy? 🤷🏽♀️
Hell, better than the damn lotto!
Per PoolTogether, Your chances of winning depend on how much money is in the pool. For example, if 1,000 Dai is in the pool and you buy 1 ticket your chance of winning would be 1 in 1,000. Those odds thoooo? kinda nice.
So basically, if you won the pool of money, you would get 206.74 DAI ( $206.74). If you didn’t win, you would get your 1 dollar back or however much you put in.
You could cash it out (don’t forget about ya taxes, fam). You could buy more tickets with it, too.
And if I don’t win, why do I get my money back?
You get it back because it was designed that way via code. This is operated by a smart contract.
What’s a smart contract? Got you on that.
A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. (Wikipedia sourced)
Some more stuff to dig through
2. PoolTogether FAQs, here. 📚
And how do I get in? (for the skeptics)
The first 3 steps are easy peasy.
1. Get the Coinbase (CB ) account set up, use the phone app.
2. Buy DAI on CB via the app or desktop.
2. Download to the CB Wallet on your phone.
You are halfway done, fam….
📑A resource to help further, here.
📹A down to earth video to watch how to play Pool Together.
💭Some closing thoughts on Pool Together
We have known about this project for hella long, but since it’s getting some traction in funding, we thought we would share it with you.
It’s a dope ass concept that humans have never been hit with before. We can only imagine the type of use cases that can come out of this. #DEFI_is_here
USE CASE
💡Think about Fundraising for example.
Let’s say we all put in 100 bucks of DAI ($100) and just let that DAI accrue the interest at 2.5% and then we donate that interest via a smart contract to several charities for one year. Literally, have the DAI interest 💸 stream into a charity crypto wallet for one year. (We are talking, real-time finance, which is REAL, TODAY) And if someone wants their money back, they could get it back, no problemo.
👌🏽Kinda crazy.
Endless use cases for DAI are on another level. We could go down the rabbit 🕳️ about PT but we are not. If you want more intel, drill down in those links up top and get your research on, family.
That time when rap group, Three Six Mafia won an Oscar for their song “It's Hard Out Here for a Pimp” back in 2006.
1. BONG HIVE FOREVER!!! Parasite won BIG 🙌🏼 this past Sunday at the Oscars🏆, and one of our favorite things to come out of all the frenzied, yet well-deserved and lovely excitement about the film (besides Sharon Choi, swoooon 😊), is finding out that the film’s amazing house — a character in and of itself — was built from scratch for the film. Now that’s HELLA tight!
A Lil Black History for Black History Month
2. Not to be on a huge movie kick (although we are), but have you ever heard of Ashley Boone Jr.? Most likely not. He was only the first Black man to run a film studio , ever.
Oh yeah, he also believed in a little movie called STAR WARS and was monumental in making it the legendary hit it came to be. This Black History Month, learn more about this legendary figure who’s legacy has been hidden for some time. This article is 🔥.
💔Looking for Loooooove?
3. You’re looking for love in all the wrong places if you’re not on Amazon Dating right now. Oh wait, it’s not real real, but it is real funny!
Nothing like a good meal at the airport! #NomNomNom
4. If you’re reading this newsletter, you’re probably a hip, successful, in-the-know gal or guy that most likely spends an ample amount of time in the sky, going place to place. Or you’re not. Who knows? We don’t know your life.
BUT, if you are the traveling type, you probably wanna know where to get your grub on, no matter which airport you’re at. I mean it’s helpful not being stuck eating the shittiest shit in terminal whatevs, right?
And here’s some more tips too! 🥘
Do The Math Tho
5. No one gives Lisa “Left Eye” Lopes ( we need to link this up for some ppl 👀) her due, but she’s on the money right here. Rest In Power to a legend lost waaaaaaay too early. 🕊️
Annnnd, that’s it. If you are feeling the vibe we just provided you, please share it with your circle of friends and fam!
-The NahRabbits Team 🐰
Do us a solid and follow us!
*Bitcoin halving is 91 days away.
#8 #24 🏀