Learn about the basic mechanisms of Moonpot's win-win savings game
Our first Moonpot went live on Tuesday 20 July (2021).
Moonpot the platform is made up of different ‘Moonpots’ or ‘pots’ where users can deposit their crypto to earn interest. In basic terms, you can think of a Moonpot as a crypto savings account.
But it’s more than that. Because every user in the pot is also automatically entered into a regularly held prize draw with no risk to their deposit. Each week the smart contract fairly and randomly selects a prize-winning ticket that is rewarded with a crypto prize.
All of this means that our Moonpots are basically like a savings account where you are also part of a regular prize draw.
Take our CAKE Moonpot for example.
Users — who we like to welcome into the Moonpot community as "Cadets" — can deposit CAKE (PancakeSwap’s token) in the pot and immediately start earning interest on their assets. Each week five lucky winning tickets win even more CAKE thanks to the prize game.
We currently have 14 different Moonpots across two blockchains.
BNB Chain (10 Pots) 4Belt USD Pot Banana Pot BIFI Pot BNB Pot Cake Pot Pacoca Pot Pots-BNB LP Pot Watch Pot Ziggy's Pot Ziggyverse NFT Pot
Fantom (4 Pots) beFTM Pot TOMB-FTM LP Pot Curve USD Pot BIFI Pot
All the assets deposited into a pot are grouped together via smart contracts and used to earn returns from the decentralized financial markets. For example, a DeFi money market where interest is paid to those lending out assets.
And so that’s where the prize money comes from — interest earned by Moonpot through the platform’s savings strategies.
Our smart contracts leverage the different DeFi products out there to earn returns for you as an individual, and rewards for the platform as a whole to give out as prizes. Your stake helps create the prize fund but is never taken from you. You play for no loss!
For those of you who want more detail note that Moonpot’s assets are deposited in special pots created by the trusted and Certik-audited team at Beefy Finance — one of the most reputable projects in DeFi.
In a word: no.
Once you deposit assets into a Moonpot you are immediately eligible for the next prize draw to be held for that pot. You are then automatically entered into each and every prize draw connected with that particular Moonpot — as long as your assets remain in the pot.
There is no ‘ticket’ to buy each week. Your deposit acts as your entry. But remember: whatever happens your deposit will never be touched. And you will always earn interest on your holdings.
Please note that for our weekly Moonpot prize games there is an initial Fairplay Timelock of ten days in place to ensure users don’t hit and run without contributing to the platform. Early withdrawal requires you to pay a maximum 2.5% Fairness Fee.
The Fairplay Timelock exists to guarantee fairness for all players in each pot.
In a word: no.
Once you deposit assets into a Moonpot you are eligible for every single prize draw connected with that pot — as long as your funds remain staked, of course.
Moonpot’s smart contracts mean you are automatically added to each prize draw that takes place while you are in the pot. There’s no manual entry required other than making the initial deposit.
That’s it! Simple.
You just earn, and (hopefully) win.
This is a good question and comes down to personal choice.
The facts are that Moonpot is a Beefy Finance product. And Moonpot’s savings pots utilize Beefy’s yield farming strategies.
If you stake directly on Beefy your assets will earn more interest over a calendar year than if you use Moonpot. But there are no prizes.
If you deposit via Moonpot then you still earn daily interest, but also have the possibility of a juicy bonus prize win every single week.
Over a calendar year, that means guaranteed interest on your assets plus 52 prize draws where you could win big.
It’s up to you which strategy you prefer. If in doubt then why not split your assets across both platforms? There’s no minimum deposit.
YES! They do.
It took a while for us to get there, but our insanely smart tech team at Mission Control worked out a way to make this happen for you. You asked. We listened. And so now anyone who stakes POTS in Ziggy's Pot can enjoy the benefits of autocompounding.
Remember, this particular pot exists to reward users with a share of Moonpot's revenue. Because 5% of all the interest earned across the whole of the Moonpot platform is sent to Ziggy’s Pot and paid out to the Cadets staking POTS.