Megapot Winds Down App to Focus on Prizerail

Megapot is winding down its website and Telegram app to focus on Prizerail, its sweepstakes business for trading apps and neobanks. The team says most protocol volume now comes from apps distributing tickets as rewards.

The company’s October 29 announcement said ticket purchases have stopped, incentives have ended and points are paused. Users can withdraw balances without identity verification.

What Happens to Player Funds

Users who registered through email, X or Telegram must withdraw before December 1, when those accounts become unavailable. Offchain Guaranteed Prizes must also be claimed before closure; free-ticket prizes can be redeemed as USDC.

Onchain winnings and referral fees remain claimable through Basescan or third-party apps afterward. Liquidity providers can stay or withdraw, but no new backer incentive program is planned. The data API remains available temporarily, without maintenance.

From Lottery Tickets to App Rewards

Megapot says 19 of 20 leads from its Singapore pitches wanted Prizerail, helping drive the decision to focus on the business.

Prizerail was introduced on October 1 as an enterprise offering alongside Megapot. At the time, the team said “Nothing changes for Megapot” and outlined plans to continue developing the app and growing integrations.

That launch positioned the two products for different customers: developers could integrate Megapot’s permissionless lottery protocol themselves, while larger teams could use Prizerail with operational and compliance work handled for them. The managed service included official rules, alternative entry methods, identity checks, tax forms and payouts.

What Prizerail Offers

Prizerail’s current website markets a $100,000 prize pool that apps can use to encourage deposits, first trades, referrals and repeat visits. It charges a flat monthly fee, with pricing advertised from $100 per draw, and says it pays winners regardless of the amount won.

The platform provides an SDK for adding prize promotions to an app and says rewards can be paid in crypto, stocks or physical goods. It markets the service as compliant for U.S. and app-store use; those are the company’s claims.