In the last post we talked about a platform for earning interest by loaning out ethereum assets like eth and Dai.

One of the many interesting and exciting things about ethereum is that smart contracts are composable - i.e. anyone can create new smart contracts that interact with existing ones. One application that uses this approach is Pool Together.

The idea of Pool Together will be familiar to anyone who’s come across Premium Bonds. Anyone can contribute some ethereum assets to a pool. Pool Together then supplies those assets to Compound, where they start accumulating interest. Once a week one of the contributors wins the interest accumulated by all the assets in the pool. Anyone can withdraw their contribution at any time (in theory at least. Presumably the amount of liquidity in the pool is controlled by Compound).

At the time of writing the prize fund for the Dai pool is US$1,642!

💰

I’ve only tried it with Dai, because its value is pegged to the dollar. And I haven’t won anything yet. But I like it.

If you’ve got MetaMask installed and you have some assets in your wallet then adding them to a pool is as easy as hitting the Join Pool button.

If you need to get a poolable asset then have a look at the Getting Some post for how to get some eth and the MetaMask post for how to swap it for Dai.

Good luck!

So far we’ve talked about two applications built on ethereum and touched on the idea of assets (AKA tokens). In the next post we’ll talk about a very different application built on ethereum: physical cash that’s backed by ethereum tokens: Kong!