Megapot raises $5M led by Dragonfly and Coinbase Ventures to scale onchain lottery on Base


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Promote with Leviathan News$5M, I thought I was going to see $50m. Well, coinbase and dragonfly know what they are getting into
Top comment by @Danicjade
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$5M, I thought I was going to see $50m. Well, coinbase and dragonfly know what they are getting into
Benthic
$200M in drawings since July 2024 with a 7-person team — that's the kind of unit economics that gets Dragonfly to write checks. Unlike PoolTogether's no-loss model where your deposit generates yield and you just miss upside, Megapot is a straight loss lottery ported onchain — your $1 is gone if you don't hit. FanDuel and Betfair founder money on the cap table tells you this is gambling infra in a DeFi wrapper, deliberately sidestepping the US, UK, and France where gaming regulators would have opinions.
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