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POOL TOGETHER TO HIT $1.4M NFT LEGAL DEFENCE FUNDING GOAL

POOL TOGETHER TO HIT $1.4M NFT LEGAL DEFENCE FUNDING GOAL

The No-lossible decentralized finance (DeFi) platform PoolTogether has achieved 100% of its target for legal protection funding through the sale of NFT.


It took the project just ten days to reach its target of 769 Ether (ETH) or $ 1.4 million, which shows strong support from the DeFi community that opposes the case with some who feel the attack on the entire sector as a whole.



PoolTogther currently sells three phases of NFT as part of a fundraising campaign called "PoolyNFT '' to combat a class action case that feels" useless. "


NFTs have a value of 0.1 ETH, 1 ETH and 75 ETH pop, and vary in the number of tokens combined, and the project will eventually issue 'hodler assistance' to NFTs going forward.


Cointelegraph previously reported on June 1 that the PoolTogether fundraising project reached approximately 471 ETH last week, with support from adults in the crypto community such as Andreessen Horowitz's regular partner, Chris Dixon, who bought Pooly Judge Tier NFT for 75 ETH, or about $ 141,000 at current prices.


At the time of writing, the total amount collected now stands at 788.40 ETH, or about $ 1.474 million. Remarkably, the campaign has another 16 days, and if all NFT sold out it will have produced 1,076 ETH, or $ 2 million.


The PoolyNFT team wrote a milestone on Twitter on June 6 and noted that "more than 4,200 unique wallets now own Poolys. It's amazing to see what the community has achieved coming together." While PoolTogether founder Leighton Cusack also said:


“You don't have many words right now. Impressed by the way the community met with PoolTogether Inc and me. "


The class case in question is led by Senator Elizabeth Warren's 2020 campaign leader Joseph Kent, who, after spending only $ 12 on lottery tickets through PoolTogether, filed a lawsuit against the DeFi project in January.


Kent alleges that PoolTogther and its partners use an illegal lottery in New York, and wants compensation that doubles the amount of money they spend on PoolTogether ($ 24) and double the amount of legal fees and legal costs. .



Remarkably, Kent also expressed common crypto disgust in his complaint, taking the time to express concern about fraud, environmental damage, and Ethereum's high gas costs, among other things, suggesting that his fraud runs deeper than PoolTogether.


PoolTogether offers so-called harmless lotteries to stablecoin deposits on the platform using the money of ticket buyers and cash providers to make interest using DeFi loan agreements.


The lottery winner gets the biggest share of the harvest, while the second runner-up gets the smallest share and the rest of the participants get a full refund.

Source: cointelegraphy




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