#30: Leighton, Co-Founder @ PoolTogether | The story behind the OG DeFi protocol which has distributed over $5 million to depositors as a reward for saving money
Description
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PoolTogether is known as the #1 DeFi protocol that encourages saving. Depositors participate in a lottery-like process where their deposited money can win prizes. But contrary to a lottery - even if they don't win, they keep their money. The luckiest winner ever deposited $73 and won over $43k, reaching a 589X return.
How it's possible? How Leighton came up with the idea? How was PoolTogether built, how they got it secured, and how they dealt with the lawsuit?
Here's episode #30:
0:50 What is PoolTogether, and how it encourages saving
2:00 How PoolTogether started as the result of Leighton's research on TradFi tools that make people more wealthy
3:45 How blockchain makes the premium bonds model more transparent and scalable
5:40 How PoolTogether works technically: non-custodial design, integrations with yield sources, random numbers generation, price tiering contracts
9:19 How have they acquired the first users in May 2019?
12:10 Mitigating security risks via reducing attack surface area, no oracle dependencies, non-custodial design, internal testing, bug bounties, investing over $1M in third-party auditors
15:15 How have they educated the market about PoolTogether?
16:56 The story behind Poolies that raised over $1.5M for combating the lawsuit
24:11 At what stage is the lawsuit right now
26:00 What needs to happen for PoolTogether to reach a truly global adoption
21:30 How do they take care of the community
32:03 Why crowdfunding on the blockchain might be a killer app
34:22 What Leighton would fix with his web3 magic wand
36:35 Why MakerDAO & Gearbox blew his mind
38:42 Why was Uniswap airdrop such a magical moment for Leighton
41:20 Where people can learn more about PoolTogether
42:18 Leighton's guest ideas
United States
