Patrick on Warpcast

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👋 Hi Farcaster! I’d love to introduce myself and share about the protocol I’m building. I have led products at Uniswap and bought bitcoin back in 2015. I’m a software engineer, product manager, and dad who lives in San Francisco... 🧵

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When I started working at Uniswap, I appreciated how the protocol was successful because it brought together fragmented token order books I also loved how Uniswap is public infrastructure that is financially valuable. So I thought to myself, what other fragmented pools of assets could work well for a protocol?

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At the time, I couldn’t figure it out. I then spent a year hacking on protocols at night I took the night shift when sleep training my newborn daughter. She woke up every 45 minutes so instead of trying to fall back asleep, I built side projects

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A year later, I left Uniswap because I was so excited to build a protocol startup and I also wanted to get sleep. I was inspired by @jacob's article on hyperstructures: https://jacob.energy/hyperstructures.html I tested ideas around ad networks, identity, privacy, and payments but didn’t find product market fit

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One day, I was talking to my mom and she mentioned how she has bought a lottery ticket every weekend for a decade. That’s when it clicked. Every state and country has a giant pool of money that’s separated by borders. It’s a lottery prize pool.

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If these pools were combined and accessible anywhere, the jackpot would be massive, and get even more exciting What if we made the fairest, lowest fee lottery for the world? I then spent some time thinking about if this is really what I wanted to spend the next decade working on

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In the end, yes, it was. People will always want to gamble Crypto is full of scams, casinos take a large margin, and lotteries take even larger margins You don’t have to condone gambling to want to improve it. It’s a noble goal to reduce consumer prices.

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I recognized that just putting a lottery online wasn’t conducive to building a mega jackpot, getting distribution, and there's significant regulatory concerns So I thought back to my experience at Uniswap where I worked on liquidity provision and with legal on token and NFT compliance

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Also, to my time at Lyft, where I built incentive algorithms for multi-sided networks That’s when I realized there’s a better way. I started building /megapot in January

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We launched two months ago and have grown to be crypto’s largest lottery We have a daily $130k jackpot and have run $5M in lotteries 9 apps are building on our lottery-as-a-service protocol

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We designed this protocol for global compliance flexibility As a permissionless protocol, this reduces our compliance burden Apps that sell tickets are expected to ensure regulatory compliance

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Our unique lottery structure may be classified as casino 'banking' game These have simpler compliance than lotteries, which should allow online gambling sites to easily add us

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I’m incredibly proud of the progress we’ve made so far I believe we are at our Uniswap V1 moment. My goal with Megapot V2 is to build a protocol that is truly permissionless and can stand the test of time, just like Uniswap v2

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Even folks like Justin Drake from the Ethereum Foundation are excited about the idea of a world lottery: https://x.com/ryanberckmans/status/1833162803609305292

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We’ll also expand to user-generated lotteries tailored to every place and use case We’ll build a lottery launchpad to enable anyone to launch a lottery with an instantly large jackpot We can make this programmatic too. Imagine a lottery where there is a winner every $100k or where 50% of players win

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Or where the ticket price is as low as $0.001, enabling apps to offer tickets freely as incentives What if we allowed a user to get the best odds to win an exact amount (eg. with $2, win exactly $25k to buy a car) All of this will be powered by the same liquidity enabling liquidity providers to earn maximum yield

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We're raising our first funding round soon This enables us to expand our team, scale to every chain while keeping the jackpot on one chain, and build a user-generated lottery launchpad If this is interesting to you, I’d love to chat! Feel free to DM!

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