megapot

Introducing Megapot, the world’s largest onchain jackpot

Buy a $1 ticket to win $100,000 or deposit as an LP and play as the house!

Check out our Frame below. We’re also live on all EVM chains with $20M in jackpots run 🧵

https://frame.megapot.io/

I'm so excited to launch Megapot V2

While I'm proud of all the improvements, I wanted to answer the # 1 question I get asked:

"why are you building a gambling app when you can literally build anything else?" 🧵

I'm so excited to launch Megapot V2

While I'm proud of all the improvements, I wanted to answer the # 1 question I get asked:

"why are you building a gambling app when you can literally build anything else?" 🧵

https://warpcast.com/megapot/0x00f56db5

Since Sept 2022, I’ve been hacking on protocols

I explored decentralized ad networks, identity, and privacy, since I believe in self-sovereign identity

The common problem was that no one is onchain for any of this to matter

Here's one of many write-ups:

building world's largest jackpot /megapot • ex @uniswap • 🟪 #45, FID #1575

I left Uniswap last month. Grateful to learn from the most talented team in web3 and proud of what we built.

Now, I’m exploring startup ideas in crypto at South Park Commons. For those in SF, come by, and let's jam on ideas together.

I wrote about my reasons here: patricklung.co/leaving

In Oct 2023, I left my job to explore full-time

I explored stablecoin, zk tech, and infra

I didn't have stablecoin founder market fit. To bring users onchain so they can reap benefits, we don't need more infra, but apps that are immediately useful now

In Oct 2023, I left my job to explore full-time

I explored stablecoin, zk tech, and infra

I didn't have stablecoin founder market fit. To bring users onchain so they can reap benefits, we don't need more infra, but apps that are immediately useful now

https://warpcast.com/pl/0x5ab680ac

I think a crypto uniquely enables a lottery that is:

1. positive EV for users
2. valuable for the core team
3. defensible and composable, as a hyperstructure

Could be a killer app when combined with points. Would love to hear peoples' thoughts!

https://patricklung.co/lottery

In Jan 2024, I had an idea for a lottery that's positive expected value to play

Users like gambling, this had a unique twist, and could bring users onchain! 

We hacked something together and launched...

In Jan 2024, I had an idea for a lottery that's positive expected value to play

Users like gambling, this had a unique twist, and could bring users onchain! 

We hacked something together and launched...

https://warpcast.com/pl/0xfabab5d7

That's when we learned that players don't care about their expected value, it's "a dollar and a dream"

We also learned about all the reasons why there hasn't been a major online jackpot

We also dug into past projects to learn more why they failed

I then took some time to reflect on if this is what I really wanted to spend a decade working on.

That's when I realized that gambling sucks. Everywhere.

You don't have to condone gambling to want to improve it, I wrote the below

In July 2024, we launched Megapot V1 

Our innovation was bootstraping mega jackpots with liquidity providers

I had low expectations - this was another experiment, out of the dozens I've tried before

In July 2024, we launched Megapot V1 

Our innovation was bootstraping mega jackpots with liquidity providers

I had low expectations - this was another experiment, out of the dozens I've tried before

https://x.com/Patrick_Lung/status/1810081425305092443

But this one got some initial traction! We reached a daily $100k jackpot and multiple apps building on our protocol!

Although a significant factor was @blast incentivizes, it helped us build conviction that there's something here

But this one got some initial traction! We reached a daily $100k jackpot and multiple apps building on our protocol!

Although a significant factor was @blast incentivizes, it helped us build conviction that there's something here

https://x.com/Patrick_Lung/status/1833633864469917890

That brings us to where we are now - migrating to @base, a chain that can scale to reach a billion users

Our North Star continues to be bringing a billion users onchain

To do so, we're building the grandest, fairest, game of speculation ever

I'm stoked to build a global game that unifies humanity

Think HQ Trivia meets the NYC New Years' Eve ball drop

If we succeed, every day, the whole world will stop for a minute to see who just became a billionaire. That's absolutely nuts.

2.5 years later, we're just getting started. I'd love for you to join us.

Please give /megapot a try and share your feedback!

We're also hiring founding engineers anywhere in North America. We're well-funded and growing rapidly:

2.5 years later, we're just getting started. I'd love for you to join us.

Please give /megapot a try and share your feedback!

We're also hiring founding engineers anywhere in North America. We're well-funded and growing rapidly: https://jobs.gem.com/megapot

Since Sept 2022, I’ve been hacking on protocols

I explored decentralized ad networks, identity, and privacy, since I believe in self-sovereign identity

The common problem was that no one is onchain for any of this to matter

Here's one of many write-ups: https://patricklung.co/priverify

Web3 Strategy & Growth Consultant | Transforming Complex Tech into Real-World Success | Bridging Innovation & Impact.

The 🧉🐻⚔️

/glanker

After reading this I'm actually much more interested in checking out what you're building. Very well reasoned and I look forward to seeing you implement and move forward with your goals :)

Just a dude who loves birds /songbirdz /birds

Thank you! 

Yes, not lost on me that Base is a stage 0 rollup, but we’re making a bet on Base that they’ll improve security before we find product market fit and scale

For now, our goal is to go after consumers and there’s no EVM chain better than base

Cool writeup very interesting!

If the pot grows big enough, what if any are the implications given that base isn't stage 2 rollup yet?

Interested in human flourishing & social infrastructure | slowly building /firstdraft | markfishman.xyz

thank you! i've had my fair share of dismissals... "bro you literally were the product manager for windows and mac powerpoint, what are you doing" 

but we'll see how things pan out in a few years!

Appreciate this thread! Rolled my eyes initially (I don't love gambling) but respect the thought and research that went into this

we're using pyth entropy: https://www.pyth.network/entropy

they secure $7B in assets through their network. but we'd like to build/use fully onchain randomness. there have been a few, but none tested at the scale we want to go!

I like Modular Synthesiser, MiniGrids, and Go (Baduk).

Also, I do Dev Rel at https://taco.build
https://github.com/theref

$THRF

What solution did you go with for Randomness?

Of course! Technically, every day there is a winner - it's either a player or LPs collectively. Since LPs have "prebought" the vast majority of tickets (98% yesterday), they win the vast majority of the time. 

Here are links for reference:
- Smart contract overview and audits: https://docs.megapot.io/deep-dive/smart-contract

-  Here's the most recent jackpot drawing where LPs won, you can see 3rd entry from the top (i'll show a screenshot in a reply on how to read this): https://basescan.org/tx/0x98dd4c110eebc99b7a0a95e4daa881bf580b107d51f552c8bed741666cdd8fee#eventlog

- If you're asking about most recent player who won, check this tx - this is when we were on Blast L2. it's basically the same as the contract on base, but the base one has some improvements: https://blastscan.io/tx/0xc1cf55dce548a640b3f57c59f2515dd2e48b559aabe4253121c611362fce5b29#eventlog

replied in detail on how the jackpot winners are found onchain here: https://warpcast.com/megapot/0x06feafa9

we don't have a query on hand that shows the record of each jackpot winner, but all the data is onchain so it should be easy to pull up. best place to track is at

replied in detail on how the jackpot winners are found onchain here: https://warpcast.com/megapot/0x06feafa9

we don't have a query on hand that shows the record of each jackpot winner, but all the data is onchain so it should be easy to pull up. best place to track is at https://stats.megapot.io/

Can you implement to share the transaction hash or a record of the every lottery winner?

How are yall dealing with the legality of this? From the research I did around trying to create a lottery-like app, the only way it’s legal is adding in some form of “skill” so no longer “random”. 

Any concerns there? Granted with the current admin this is going to change I’m sure.

(Would love to talk about a role with ya regardless)