# About PoolTogether

PoolTogether is a [prize savings](https://en.wikipedia.org/wiki/Prize-linked_savings_account) protocol, enabling you to win by saving. 

1. Deposit USDC for a chance to win
2. Participate in daily prize draws
3. Withdraw your deposit any time - even if you don't win!

Every dollar you deposit gives you a chance to win prizes. The more you save, the higher your odds!

PoolTogether is one of the first and most widely used DeFi (*Decentralized Finance*) applications and has been **live for over four years.** Since its inception, the protocol distributed over $10 million in prizes to depositors. [The luckiest winner so far deposited $74 and won over $40,000](https://decrypt.co/66354/crypto-no-loss-lottery-winner-turns-74-into-40000).

### How does it work?

This is possible because prizes are made up of the interest that accrues on all deposited funds:

🏦 Users deposit into the network

📈 Yield accrues on all deposits

🏆 The yield is randomly awarded as prizes to the users.

### PoolTogether is

![](https://3870527265-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MjVmQloS14HsmiACMUz-887967055%2Fuploads%2FUGKWmtiSUtzUzt3dTfBs%2Fimage.png?alt=media\&token=0687123d-5f50-4607-8f91-b39b48c91c7c)

PoolTogether is a Prize Linked Savings account powered by the blockchain. It's:

#### Provably fair

Prize draws at PoolTogether are transparent: anyone can confirm who won, when, and why. 

#### Globally accessible 

The protocol empowers *everyone* to save. It offers a level playing field where every user enjoys the same conditions. 

#### Fully non-custodial

No one but you has access to your deposited funds. PoolTogether is non-custodial, meaning users can redeem their money from the pool at any time. 

#### Open-source & secure

The protocol is made up of computer software: smart contracts living on the blockchain. The [code is open-source](https://github.com/pooltogether/) for everyone to verify and validate. On top of that, PoolTogether undergoes regular [audits](https://docs.pooltogether.com/security/audits).

#### Decentralized

PoolTogether is user-owned and user-driven. Control over the protocol rests in the hands of the community holding the POOL token. Find out more about [governance](https://docs.pooltogether.com/pooltogether/governance)