🚨🚨 TIME SENSITIVE GOLD AND YIELD OPPORTUNITY 🚨🚨 ico has been chatting with the team from @megapot for a bit and found that they've got something very similar to the YoloGames single-sided house-slanted LP for getting yield on ETH and BLAST tokens. Basically they have a jackpot that runs where players can buy lottery tickets as entries into a giga pot of BLAST. The catch is that the odds are slightly in favor of the house, such that over time, the house *should* win and LPs will earn APY on their deposits. ico encourages anyone interested to read the docs before diving in head first as with every risk-on action. Given the regular gamble behavior of users in general, and particularly at casino apps on Blast (as demonstrated by the YOLO LP gains), this seems like a decent bet to us. Team is ex-Uniswap and doxxed, so NK rug risk seems low. Here's what you do: 1) go here: https://megapot. io?referral=KnTEhfj5 (remove reflink portion if you hate ico) 3) Click Liquidity 2) Deposit ETH or BLAST into the single sided pool 3) Select your risk tolerance (ico went with 10%) 4) Let your LP earn passively There is a much deeper dive in the docs on how the mechanism works, but functionally it's like a casino house-edge where across a long enough time-span, LPs will come out ahead. You can withdraw or edit your LP at any time, but the LP closes once the lotteries start running (in 1.5 hours) to maximize upside for LPs. Apparently in their ETH-only beta, depositors enjoyed an effective earn rate of 141% APR...which is very comparable to the YOLO pools. As of right now, the Blast LP is around 27m Blast tokens...which means one could theoretically get a really nice chunk of the pie with not a ton of cost. Given that Megapot got a second wave of gold allocation that was larger than their first, it seems they're trending in the right direction. Where does the yield come from? Great question - when users buy pot tickets to try and win the jackpot, that goes to help fill the pot (alongside a portion of the LP from providers). If the LPs win, they effectively 'absorb' all of the external capital inflows from the ticket buyers. The odds are slanted such that the house has an edge. Hopeful to see this product succeed. ico out 🐺
