Overview of Analysis:

In this analysis, we are going to study the Pooltogether program on the Optimism network during the selected time period. Also, the comparison of the Pooltogether application on various chains has been executed.

For this purpose, various parts have been analyzed to assess the performance of Pooltogether.

This analysis is divided into the following parts:

• PoolTogether on Optimism
• The activity of PoolTogether on various chains
• Summary and references

The time frame of this investigation can be changed between (30,60,90 and 180 days) by logging into the Flipside crypto website.

Also, the time basis of this investigation can be changed between Day, Week and Month.

By default the time period is considered for the past 60 days on the daily basis.

Optimism network:

Optimism is one of the most famous second layer solutions of Ethereum, which is provided with the aim of making Ethereum more scalable. This second layer solution increases the speed of transactions in the Ethereum network and significantly reduces the cost of transactions or transactions. In this solution, Ethereum network transactions are processed in the second layer and only the information of that transaction will be stored on the main Ethereum network. As a result, the security of this solution is provided by the Ethereum main network, which increases the reliability of this method. Various ideas have been introduced to provide Ethereum layer two solution, among which, solutions that use rollup technology, whether ZK rollup idea or optimistic rollup idea, have higher security and efficiency compared to competitors.

This solution uses a smart contract. In order to use this layer two solution, people must first transfer their digital assets from layer one, the Ethereum network, to layer two, the Optimism network. This transfer is done by smart contract.

The main advantage of using Ethereum second layer solutions is that you can pay much lower fees while using programs and platforms launched on the Ethereum network.

Methodology:

To handle this investigation, the Data provided by the Flipside community has been adopted, accordingly.

The data relating to the Optimism network have been shown by Optimism tables on Flipside. The sub-parts of this mentioned table have been utilized by its application:

• PoolTogether on Optimism network

  • Metrics→ Deposit and withdraw stats, net deposit to program, Users participated in the program, Claimed prizes from Pooltogether, 7-day moving average analysis, Average volume and player for each action on the program.

• The activity of Pooltogether on various chains

  • Blockchains→ Ethereum, Polygon, and Avalanche
  • Metrics→ like the previous part
  • TVL analysis of Pooltogether on various chains

• Summary and references

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PoolTogether

Decentralized finance (DeFi) provides innovative possibilities for creative developers to test their ideas. DeFi's goal is to create a completely new, open-source, license-free, and transparent financial services ecosystem. DeFi is still in its early stages of maturity and new applications are emerging in this nascent space every day. One of the applications in the field of DeFi is called Pooltogether. Pooltogether is a service that allows users to stake their cryptocurrencies in lottery pools and participate in the platform's weekly raffles. In the Pooltogether platform, none of the users will be losers. Basically, we can consider Pooltogether as a game where users can enjoy its countless benefits by staking their assets. Players of this platform can join the game by purchasing Saving Tickets. Each ticket purchased by users increases their chances of winning a prize. At the end of each week, a small number of prize winners collected in the prize pool will receive their prizes and redeem their tickets.

Despite all these interpretations, you should know that what makes this game unique is that the losers also get their tickets back. None of the people who contribute to this platform lose their money. The Pooltogether platform uses the profits from tickets purchased by users to fund its prize-giving.

Part 1: PoolTogether on Optimism

The outcomes represented in this part are calculated for the selected time period (2 months by default) and based on the chosen time intervals (Daily basis by default).

Author:

Credited by MZG

Discord handle: mPINEzmn#0361

Twitter handle: @GargariZamani

Useful links:

• Optimism network
• PoolTogether
• Medium article

Part 3: Summary and references

Conclusion:

By considering the outcomes of this analysis the following statements could be concluded:

• The Pooltogether platform is commonly known as a no-loss lottery, which is why none of the players lose their money on this platform. Among the possible disadvantages of participating in this game, we can mention things such as not being able to use your assets on other platforms and paying fees or fees required to complete transactions.
• After Pooltogether's activity started in the Optimism network, more users interacted with this program in this network. This analysis shows that optimism has had a successful performance in relation to a Pooltogether program.
• Optimism network has dominated the activity of Pooltogether network from TVL and unique players’ points of view.
• The Pooltogether protocol is one of the most promising examples of what can be achieved through an open and permissionless financial system, and all of this is made possible by blockchain technology. The idea of using a lottery in a platform where losing players get their money back is a new idea and plan that has never existed anywhere else. The existence of these types of programs makes many users attracted to the crypto world.

Findings:

• The activity of Pooltogether on the Optimism network started in July 2022. After that date, the domination of the Optimism network begins and is clearly shown in the related charts.
• Before July 2022, the Polygon network is the leading chain for Pooltogether program.
• The 7-day moving average volume of deposits into the Pooltogether on various chains reveals the decreasing pattern for the Ethereum network. Furthermore, the average deposit volume on the Optimism network enhanced since January 9th, 2023.
• The total deposit volume into Pooltogether on various chains demonstrated that the total deposited volume on Optimism passed the Polygon network after October 17, 2022.

Findings:

• Before the launch of Pooltogether on Optimism, the Polygon network dominated the claimed prized from Pooltogether as can be seen.
• The spike in claimed prizes on the Avalanche network was clearly seen between February 28 to March 7, 2022, with nearly 156k volume.
• The 7-day moving average claimed prizes from Pooltogether on various chains reveals that Ethereum has the highest average volume of the claimed prizes. Also, the Polygon network has fewer average claimed prizes among chains.
• The TVL analysis for Pooltogether on various networks has demonstrated the superiority of the Optimism network with over 40 million USD volume. After Optimism, the Polygon network with more than 3.6 million USD TVL stands in second place.
• Since the launch of Pooltogether on Optimsim, the share of TVL on Optimsim network has increased and other chains follow the decreasing pattern.

Findings:

• From the deposit volume point of view, the Optimism network has dominated other chains with more than 50% of deposit volume.
• Also, Optimism has the highest count of unique players among other chains and Polygon stands in the second rank.
• The Ethereum blockchain has the highest average deposit volume and Avalanche takes second place in this metric.
• From the claimed reward point of view, the Polygon network has dominated other chains with highest count of prize claimers and volume of claimed prize.

Part 2: Activity of PoolTogether on various chains

The comparison related to the activity of Pooltogether on various chains has been executed for all-time. Also, the weekly basis is selected for this section.

Findings:

• The count of deposits and withdrawals are close together until January 14, 2023. After that date, the withdrawal actions increased and dominated the deposit action.
• In the one-month period (January 18 to February 16) the interaction with Pooltogether has decreased significantly. After February 16, the deposit actions into the Pooltogether started to grow accordingly.
• The highest volume of deposits occurred on February 8 with more than 2.52 million USD. However, the highest volume of withdrawals happened on December 30 with nearly 2.15 million USD.
• The largest group of players claimed prized from Pooltogether occurred on January 18 by 153 unique players.
• The highest volume of claimed prized from Pooltogether was distributed on January 25, accordingly.

Findings:

• In the selected time frame, the volume of deposits into the Pooltogether is more than Withdraw amount.
• The average deposit amount per day is more than the withdrawal action in the chosen time period.
• The count of withdrawal actions per day from Pooltogether is more than the deposit action per day.
• The count of actions and responsible users are really close together and it demonstrates that most of the players interacted with Pooltogether only for 1 time.