The native POTS token of Moonpot hit an all-time high of $20.72 on Sunday, but can it consolidate its gains?
Moonpot
The staking and prize pot platform Moonpot surpassed $100,000,000 in total value locked (TVL) for the first time this Sunday, August 22nd. Since reaching the milestone the TVL has fallen very slightly to $98 million, with $39.4 million in $POTS and $58.5 million in $CAKE locked in the platform.
The price of POTS token hit an all-time high of $20.72 this Sunday, but the project’s native token has since retraced to $16.11 – a 23% drop. The decrease in TVL can almost certainly be attributed to the price drop in POTS token, rather than a reduction in staking on Moonpoot. The $100 million milestone remains a significant marker for Moonpot’s recent success.
“Congratulations @moonpotdotcom with the fantastic milestone of 100M TVL!” said one Twitter user and early adopter, “With only two Pots ( $CAKE and $POTS ) live at the moment, I’m bullish for what’s more to come!”
It augurs well for the platform that their success to date has been focused on only two prize pots.
About Moonpot
Moonpot describes itself as the win-win lottery/staking platform. Users stake their assets into the Moonpot and earn interest, but also have the opportunity to win prizes. Essentially it is a no loss lottery, designed by the clever financial boffins at Beefy Finance. For a full breakdown of how Moonpot works and why users simply can’t lose, read out handy guide, ‘Beefy Finance Announces Moonpot, a no Loss Lottery on Binance Smart Chain’.
Where to find MoonPot:
Source : bsc.news
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