Tutorial: Deposit on PoolTogether (Polygon)

What is PoolTogether?

PoolTogether is a no-loss lottery platform that allows users to deposit crypto tokens into specific pools to win weekly prizes. Your deposits entitle you to “tickets” that rollover weekly till you withdraw funds from the pool. Unlike a traditional lottery, you don’t lose your deposits if you don’t win the prize.

PoolTogether uses your deposits and stakes them on Compound. The interest generated from staking activity is distributed as the weekly prize. 

Using PoolTogether

Step 1: Connect Wallet

  • Click on the “Connect Wallet” button in the top right and select the wallet you want to use.

Step 2: Switch to the Polygon Network

  • Click on the button labelled “Ethereum” at the top right. 
  • Select “Polygon” from the list of networks. 
  • Approve the wallet popup to switch networks.

Step 3: Select a Pool

For this guide, I’ve selected the USDC Polygon Pool. This pool requires you to deposit USDC. There are several pools on PoolTogether Polygon. Choose one that you prefer. 

Step 4: Deposit Tokens

  • Click on the Deposit button and add the amount of tokens you want to deposit. 
  • If this is your first time, you have to Approve the usage of that specific token. This step requires MATIC for Gas.
  • Once the transaction is successful, you can click on the “Deposit [TOKEN]” button and confirm the deposit in your wallet. This step also requires MATIC for gas.

Congratulations! You have successfully deposited tokens on PoolTogether Polygon.

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