# About HoneyPool

HoneyPool is a [prize savings](https://en.wikipedia.org/wiki/Prize-linked_savings_account) protocol, enabling you to win by saving. 

1. Deposit USDC for a chance to win
2. Participate in daily prize draws
3. Withdraw your deposit any time - even if you don't win!

Every dollar you deposit gives you a chance to win prizes. The more you save, the higher your odds!

### How does it work?

This is possible because prizes are made up of the interest that accrues on all deposited funds:

🏦 Users deposit into the network

📈 Yield accrues on all deposits

🏆 The yield is randomly awarded as prizes to the users.

### HoneyPool is a Prize Linked Savings account powered by the blockchain. It's:

#### Provably fair

Prize draws at HoneyPool are transparent: anyone can confirm who won, when, and why. 

#### Globally accessible 

The protocol empowers *everyone* to save. It offers a level playing field where every user enjoys the same conditions. 

#### Fully non-custodial

No one but you has access to your deposited funds. HoneyPool is non-custodial, meaning users can redeem their money from the pool at any time. 

#### Open-source & secure

The protocol is made up of computer software: smart contracts living on the blockchain. The code is open-source *(INSERT GITHUB LINK HERE)* for everyone to verify and validate. On top of that HoneyPool will undergo regular [audits](https://honey-pool.gitbook.io/honeypool-docs/security/audits).

#### Decentralized

HoneyPool is user-owned and user-driven. Control over the protocol rests in the hands of the community holding the HNYP token. Find out more about [governance](https://honey-pool.gitbook.io/honeypool-docs/honeypool/governance).