PoolTogether –  the popular no-loss prize protocol –  has launched its own native token, POOL, and airdropped it to over 17,072 unique wallet addresses.

The POOL token is solely a governance token and can be used to adjust protocol parameters such as the number of winners, launching new prize pools, integrating new yield sources, implementing scaling solutions, and even controlling the future distribution of POOL to protocol contributors.

14% of total POOL supply has been distributed to all POOL depositors across the V1, V2, and V3 protocol up until January 14th 2021 at midnight UTC. If you have deposited funds into PoolTogether before, you may be eligible for this airdrop!

For new POOL token holders, here are some key details to be aware of:

  • Token address is: 0x0cEC1A9154Ff802e7934Fc916Ed7Ca50bDE6844e
  • 80.04% of POOL tokens have been allocated to the community, 12.44% to advisors and employees, 7.52% to investors.
  • 5% of total POOL supply will be distributed to all prize pool depositors over the next 14 weeks. Starting at midnight UTC, February 17th.

The future of the first no-loss prize pool on Ethereum is now in the hands of the community. To read more about the POOL token and how you can get involved with contributing to the protocol check out the original announcement here.

Keep up with PoolTogether by following their Twitter.