Designed to spice up your savings with the chance of winning up to 150€ every Friday, our Prize Account is a prize-linked account that raffles all the earnings generated to lucky winners.
Download Rand App
Rand App
Now
Congratulations! You just won 150,00€
What is it?
Inspired by Premium Bonds, Rand introduces a Prize-Linked Investing Account, aiming to dissuade individuals from risking their money in lotteries by providing an alternative means to earn returns.
Similar to our Earn Account, the Prize Account diligently manages funds, but with a twist. All accumulated yield is raffled on Fridays among lucky winners.
Win big. Cash in often
Prizes ranging from 1€ to 150€ in our Prize Account. Every week, the prizes are paid out in stablecoin, directly deposited into your account.
Bigger deposit = higher odds
The Prize Account is thoughtfully designed to reward individuals with a meaningful contribution. This means that the more substantial your deposit, the greater your chances of winning a prize.
Meet the perfect mix for your savings.
Unlock the power of a single account that combines the finest opportunities from tokenized markets, enabling you to earn superior returns compared to your bank, all while maintaining minimal exposure to volatility.
Liquid
More liquid than CDs or bonds. Withdraw your money instantly without penalties and without waiting on maturity dates.
Well-diversified
Funds are diversified across a set of market and delta neutral strategies to minimise any exposure to volatility.
Easy to manage
Don’t worry about the hassle of learning how to provide liquidity to the markets, do arbitrage or market neutral staking: we do it for you.
The best part? We do all the work for you.
Swap from EUR to Stablecoin
Currency hedge
Automatic risk assessment
Interest reinvesting
Our primary goal is to help you generate returns on your savings effortlessly, without requiring significant time commitment each week.
That's why we handle the conversion of your EUR to Stablecoin on your behalf and apply a hedge to mitigate concerns about fluctuations between the two currencies.
Additionally, when you win a prize, we reinvest the earnings for you, ensuring a worry-free experience.
Questions? Answers
What is the Prize Account?
The Prize Account is a unique rewards product offered by Rand. It provides an opportunity for all users to contribute to yield generation and have a chance to win monetary prizes. Here's how it works:
When you add funds to the Prize Account, your funds join forces with other users' contributions to generate interest over the course of one week. At the end of this period, the total interest generated is distributed among a select number of lucky winners. The winners are chosen randomly but the chances to win are proportional to the amount invested and the time funds have been kept in the Prize Account over that week. Regardless of whether you win or not, you keep the original amount you invested in the Prize Account and the yield generation for the following week's prizes starts immediately after the distribution of prizes, meaning that your contribution continues to support the potential for future winnings.
The Prize Account adds an element of excitement to your financial journey, offering the opportunity to earn bigger rewards sporadically. Participating in the Prize Account allows you to be part of a community-driven rewards program that fosters a sense of engagement and potential for additional benefits.
How does Rand generate yield with the Prize Account?
At Rand, we have implemented a comprehensive and secure approach to generating yields for the Prize Account. Our top priority is to keep funds safe while aiming to maximize potential returns.
To generate interest and potential rewards, we pool together funds from all Prize account participants. These funds serve as the foundation for our yield generation process, which is optimized with the use of advanced Web3 and AI technologies. Our cutting-edge methods enable us to employ sophisticated trading and lending strategies while placing a strong emphasis on fund security. The strategies include staking, margin lending, arbitrage and market-making, and are designed to minimize exposure to market risks and volatility, maintain stable returns, and mitigate potential losses.
To ensure the security and protection of funds, we have a strict risk management framework in place. This framework ensures that the capital used for trading is fully collateralized, and the strategies are implemented in a market-neutral manner. Our team of experts, along with advanced algorithms, continuously monitor market conditions and make necessary adjustments to the trading strategies. This proactive approach allows us to adapt to changing market dynamics and optimize the yield generation process.
While our aim is to generate consistent and attractive yields for the Prize Account, it's important to recognize that all investments carry inherent risks. However, through our meticulous risk management practices, we strive to provide a secure environment for users' funds and mitigate potential risks associated with market fluctuations.
How are the weekly winners chosen?
When it comes to selecting the weekly winners for the Prize Account at Rand, fairness is of utmost importance. Our algorithm ensures that every user has an equitable chance of winning cash prizes. Here's how the process works:
The Prize Account algorithm is specifically designed to give each user a fair and balanced opportunity to win. To illustrate this concept, imagine that every user is assigned a certain number of tickets associated with their participation in the Prize Account. The number of tickets a user possesses is determined by two factors: the amount of funds they contribute to the Prize Account and the duration for which they keep those funds in the account. Essentially, the more funds a user adds to the Prize Account and the longer they retain those funds, the more tickets they accumulate. After each week, our algorithm randomly selects winning tickets from the entire pool of tickets held by users. The selection process is unbiased and ensures a fair chance for all participants. Users who own the selected winning tickets become the lucky winners of the prizes. This means that users who have earned more tickets have the odds in their favor, encouraging users to actively participate and maintain their funds in the account for a greater chance of winning.
By implementing this transparent and random selection process, we strive to provide an equitable opportunity for each user to be rewarded. We firmly believe in creating an inclusive and engaging environment where all participants have a fair shot at winning exciting prizes through the Prize Account.
How many winners are there each week?
The number of winners in the Prize Account varies each week and is determined by the number of participants. As more users join the Prize Account, the number of winners increases. We constantly monitor and assess the number of participants and adjust the number of winners accordingly. This allows us to strike a balance between the number of participants and the distribution of prizes, creating an engaging and fair experience for all users.
To find out the exact number of winners for a given week, you can visit the Prize Account page within the app. The page will display the details of the current week's prize distribution, including the number of winners selected.
What is my chance of winning, and how can I increase my odds?
Your chances of winning in the Prize Account are influenced by several factors, which include the amount of funds you add, the duration you hold them in the Prize Account, and a bonus for holding funds for multiple weeks.
When you add funds to the Prize Account, your contributions contribute to the overall prize pool. The more funds you add and the longer time you keep them, the larger the prize pool becomes, increasing the potential rewards for participants. This, in turn, enhances your chances of winning. It's important to note that while these factors contribute to improving your odds of winning, the final selection of winners is determined through a randomized process. This ensures fairness and equitable opportunities for all participants.
To maximize your chances of winning, we encourage you to consider adding substantial funds to the Prize Account and holding them for an extended period. The longer you hold your funds and the larger your contribution, the higher your probability of winning a prize.
How will I receive my prize?
Your winnings will be automatically added to the balance of your Prize Account on a recurrent basis. You have the flexibility to manage them anytime according to your preferences.
By keeping the prizes in your Prize Account, you allow them to increase your chances for following draws as your balance increases. Alternatively, you can choose to transfer your earnings to your Checking account, which allows you to have greater control and accessibility to your funds. From your Checking account, you can then further allocate the funds to other accounts or initiate transfers as needed.
Can I withdraw my money whenever I want?
You have the flexibility to move out your funds from the Prize Account whenever it is convenient for you. However, it's important to note that removing a portion or all of your funds from the Prize Account in between weekly prize draws will significantly reduce your chances of winning.
When you participate in the Prize Account, your funds contribute to the overall prize pool, increasing the potential rewards for participants. By keeping your funds in the Prize Account, you maintain your eligibility for the weekly prize draws and maximize your chances of winning. If you choose to remove all your funds from the Prize Account, you will no longer be eligible to win prizes. Therefore, it's advisable to consider the timing of your fund movements and ensure that you have a sufficient balance in the Prize Account to maintain your chances of winning.
Take a look at Rand's helpcenter for the complete set of FAQs
