# Saving Smarter: The Ultimate Guide to Winning with PoolTogether

### INTRODUCTION

2023 was a blossoming year for PoolTogether and all it’s Poolers as well - Yes! As the year wraps up, we’re looking forward to seeing some new versions of PoolTogether in the coming years.

Vividly, PoolTogether emerged in 2019 as a transformative force in the DeFi ecosystem and revolutionizing how we approach the traditional savings accounts via the concept of prize-linked savings.

If you don’t already know what and how PoolTogether works, don’t fret! This article will provide a sneak peek into this groundbreaking protocol. Plus, it’s something anyone can leverage in the coming years - Before I begin, I’d love to share one of the most remarkable moments of PoolTogether.

In just a few short years, PoolTogether became one of the most widely used DeFi applications - Insanely unbelievable! More so, the luckiest winner emerged victorious after depositing only $75 to win $40,000 🏆; this kind of achievements are very rare, but thankfully, PoolTogether is already paving a way for DeFi users across borders.


### **Overview of PoolTogether** 🌊

What a journey it has been! DeFi is finally where it belongs - PoolTogether is a no-loss lottery, open source and deep. Anyone can participate in the pool; With PoolTogether, users can deposit dollars, each deposit becomes another chance at winning the daily or weekly prize. Needless to say, the more you deposit, the more rewards you earn.

### **Looking Ahead…**

Since the inception of PoolTogether, we have witnessed the release of several versions. Each of these versions were tailored to achieve great milestones whilst helping users to interact more effectively with the protocol.

Should in case you don’t know how PoolTogether works and you’re looking to explore this incredible DeFi application, here is a step-by-step guide to getting started with PoolTogether - Let’s go 🚀!!!

### **How Does PoolTogether Work?**

Winning with PoolTogether is easy-peasy; users do not need any prior experience before they can participate in the network. PoolTogether prizes are generated from all of the interest that accrues on all deposited funds.

Keep in mind that every prize pool has a special way of distributing prizes. Each Prize Pool has its own specific prizes, to know which Prize Pools work best for you, simply navigate to the [PoolTogether App](https://app.pooltogether.com/?explore_view=top&sort_by=deposits) to explore all the amazing prize pools.


1. 🏦 Users deposit their funds into any prize pool of their choice.

2. 📈 Yield accumulate on all users deposits.

3. 🏆 Then, the accumulated yield will be randomly awarded as prizes to the users in the network pool.

### **More Ways to Interact with the Protocol**

One of the most intriguing part of the PoolTogether latest version (V5) is that
V5 allows for the deposit or swaping; if he user wins, their prizes are automatically sent to their wallet. No more claiming
necessary. Unlike V4, winners must claim their prizes within 60 days of winning.


V5 has left a lasting impact on the heart ♥️ of users as it immensely improved incentivization as well as decentralization.

***To get the most out of PoolTogether V5, we have been provided with two uses cases:***

* Cabana.fi

Cabana exists to be an open-source interface designed for users to interact swiftly with the PoolTogether protocol. Following that, the Cabana App allows for the deposit, withdrawal and management of balances within PoolTogether V5.

Momentarily, Cabana has a series of extensions such as the Cabana Swaps, Cabana Factory, Cabana List, Cabanalytics and much more; these extensions help the main Cabana app, while also enabling users to make the most out of different functionality from the PoolTogether protocol.

***Learn more***:
https://docs.cabana.fi
https://docs.cabana.fi/cabana-tools/guides

* [Pooltime.app](https://pooltime.app/)

The Pooltime.app is another great way for users to interact with the PoolTogether V5.
Just so you know, there is a lot more to unravel when you explore PoolTogether.

The year comes to a close, a lot of individuals from all walks of life are on the lookout for new opportunities - PoolTogether is just a few clicks away!

***Learn more***: [Pooltime Team](https://gov.pooltogether.com/t/ptbr-11-pooltime-q4-2023/3059)

### **Are There More Ways to Earn?**

Yes of course, there are other means to earn more yield as you interact with the protocol:

* Users can earn prizes by Depositing into the pool or via token swap.

* Users can earn yield by Creating vaults for new assets

* Earning by arbitraging yields

* Earn fees by claiming prizes for winners

* Completing draw auctions will can earn you some rewards

### Final Thoughts

Winning 🥇 and reaching your financial goals with PoolTogether is a thing of beauty. PoolTogether has been audited, since it’s inception, no token has ever been compromised, users are still wining big and withdraw your deposit in full at any time. Nothing has changed since the launch of V5 - No protocol fees, and no exploits whatsoever have been reported.