Winding down the Megapot app, going all in on Prizerail
On December 1, the Megapot app will shut down. The Megapot protocol will keep running. Here's what changes, and why.
Today, October 29
- Ticket buying on megapot.io and in the Telegram mini app has been disabled.
- Incentives such as the liquidity backer program have ended, as well as signup bonuses, referral bonuses, and guaranteed prizes. Prizes you've already won are still yours to claim.
- Everyone can now withdraw their balance without identity verification.
- Points program is paused. We are exploring other onchain products and will share more when we have an update.
December 1
- The megapot.io app and the Telegram app go offline.
What keeps running
- Megapot protocol. No change. It's fully onchain and permissionless. Apps or tokens built on it keep working.
- Data API, for now. Treat it as deprecated, as we won't be maintaining it and will sunset it at a later time.
What you should do
If you have any winnings or referral fees:
- Claim them easily in the app. After Dec 1, onchain ticket prizes and referral fees can still be claimed via Basescan or third-party apps.
- Claim Guaranteed Prizes now. They are offchain, so will no longer be claimable after Dec 1.
- Prizes that are free tickets can be claimed as USDC.
If you created your account with an email, X or Telegram login:
- Withdraw your funds before December 1. Your account will not be available after that time.
- For those that connected their own wallet, your tickets and winnings are always yours.
If you provided liquidity:
- You can keep providing liquidity or withdraw at any time.
- There will not be a new backer program.
If you want to keep playing:
- Independent apps such as Megapot Club and Bankr let you use the protocol. See the Megapot ecosystem for more apps.
What we built at Megapot
We started Megapot with a dream: that in a few years, the whole world would pause for a moment every day to see who just became a billionaire.
We're not there yet, but we're proud of what we built:
- A fully onchain lottery protocol, with dozens of independent apps that drive the majority of protocol volume
- A consumer app experience that players loved, with the best odds of any lottery in the world
- Over $1,000,000 paid out in prizes
As of today, Megapot is still growing:
- Ticket volume grew 3x in the last 3 months
- Liquidity pool did not require any incentives this past month for the first time
- Our Telegram Mini App gets thousands of new users per day
From Megapot to Prizerail
We built the Megapot app to help bootstrap an open lottery protocol. We hoped other apps would build their own frontends to sell tickets. Instead, most apps gave tickets away to reward deposits, trades and referrals: "Make your first deposit for a chance to win $100,000."
Today, the majority of protocol volume is driven by apps which mainly use it this way.
These apps drive recurring protocol volume. To go upmarket to larger apps, we launched the Prizerail enterprise brand. However, they all asked for the same things: compliance in the USA, a legal memo for their payment providers, and nothing to do with gambling.
We spoke with our legal counsel and built a way to offer the above, in a way that was separate from Megapot. When we pitched this in Singapore, of the 20 leads that came out of it, 19 wanted Prizerail. Only 1 wanted Megapot.
We feel the pull from apps looking for a sweepstakes platform. As a startup, we can only do one thing well. We made the tough decision to focus on Prizerail.
About Prizerail
Prizerail is our sweepstakes platform built for consumer apps. We enable apps to offer a huge headline prize to supercharge onboarding or drive retention. No matter how much their users win, we pay for it. We also handle all your sweepstakes compliance, with a legal memo, official rules, alternative means of entry, and more. Learn more at prizerail.com.
Thank you
To everyone who played, provided liquidity, built on the protocol, and cheered us on: thank you.
To the community that believed in us, thank you for taking a chance on us. Building Megapot with, and for, y'all has been an honor.
Contact us at megapot.io/support, email support@megapot.io, find us on X, join the community on Telegram, or browse the docs.
Prizerail
