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.
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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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