Decentralized lottery platform Megapot has secured angel funding from investor 0xMasonH, although the amount remains undisclosed. The platform is reportedly seeing significant engagement, with its first lottery pot reaching $207,076. Additionally, liquidity providers for Megapot are currently earning an annual percentage yield (APY) in the range of 33% based on ticket sales. Recent reports indicate that Mega LPs earned an impressive 11,437% APY yesterday. The platform has also pivoted to a multichain approach after initial challenges in gaining traction during its earlier launch phase. Security for the first jackpot product is being managed by Cantina.
Really glad to see Megapot getting some exciting headlines They tried launching Blast-exclusive during the start of Season 2 and just had a hard time getting critical mass traction They have since pivoted a bit to be multichain…and someone won the gigantic pot last night https://t.co/2DxZaigXRK
Megapot accrued a $207,076 pot on its first lottery Mega LPs earned 11437% APY yday Growing the worlds largest lottery, onchain https://t.co/P6XtpPPp5N
megapot lp providers getting 33% range APY based on ticket sales cantina handling security on first jackpot product just closed funding