Financial Platform Gluwa Rolls Out a New Gamified No-Loss  “Lottery Account”

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Gluwa, a borderless financial platform that integrates decentralized financial infrastructure with global investment opportunities, has recently announced it has launched The Lottery Account, its second investment product.

According to the company, this is basically a no-loss lottery-style stablecoin account in which users can deposit the project’s native token, sUSDC-G, into a collective liquidity pool and have the possibility to win the entire combined interest accrued. Special mention must be made to the fact that all participants principal can be redeemed at any time. 

The company’s The Lottery Account is based on the OpenFi model, according to which interest is earned through debt financing deals from real-world transactions off-chain.

Users interested in participating in this investment product must deposit the funds on or before the designated cutoff time if they want to be eligible for the daily prize draw every 24 hours.

Participating users will be able to win all the interest earned in the prize pool every day as part of the daily draw. Because the account has been designed to follow the format style of lotteries, there are no guaranteed winners, and the prizes will be rolled over to the subsequent draws.

$1 million in the stablecoin sUSDC-G investment cap will be initially set at launch. Users will only be able to deposit $50,000 in sUSDC-G into their accounts in order to ensure inclusiveness and that everyone has the same chances. The more a user deposits, the higher their chances of winning.

Brendan O’Toole, Head of Product (Invest) at Gluwa, has said:

“This has been a challenging but exciting product to bring to market. Think PoolTogether but instead of generating yield from DeFi protocols like Aave or Compound – we are harnessing the power of #OpenFi by bridging our crypto ecosystem with real-world off-chain opportunities to offer our users a chance at winning big in a low-volatility environment. With its no-loss lottery-style underpinning, users have everything to gain and nothing to lose.”