2% of rewards for charity

Whilst I love this idea in theory, in practice I don’t think there’s many charities out there which have a way to easily donate crypto (please correct me if I’m wrong!).

Perhaps instead, this 2% could be built up over time to fund attempts building an open-source, non-profit solution to make it easier for charities to accept crypto (especially ETH and ERC-20 tokens) instead?

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i have not checked out each of the organizations on this list, but this could be a useful resource for selecting charities we wish to donate to. GitHub - porobov/charities-accepting-ether: List of charitable organizations that accept ethereum cryptocurrency

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It’s actually a good idea !

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I would like POOL to eventually do something with charity, not sure taking it from the prizepool is the way to go about it though. I think leaving it up to the user as an option in how they want to divide their allocation of interest is the best way to do it. For example, direct X% towards the no loss lottery and Y% towards this specific charity that is made easily available through the pooltogether platform.

I would have concerns if pooltogether POOLs don’t scale such that the the pot odds for whales to leave their funds in PoolTogether do not mathematically exceed the pot odds over leaving it in the Pool source; as the variance in interest return is a net negative for whales. At the end of the day if we want to attract massive pools of money we need to achieve this.

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I am in favor of 2% to charity, it should be implemented at the same time as drawing revenue is built into the pools.

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都是一堆小清新的想法;还是先把项目核心做大再说这些吧。不是每个人都相信所谓的慈善计划能真正用于慈善

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I think the first step here is simply enabling the protocol reserve. Previously the protocol reserve was set to 5% but right now it’s at 0%.

What the protocol reserve does is takes a percent of the prize and puts it BACK into the prize pool as “sponsorship”. Sponsorship are funds that are in a prize pool contributing interest to a prize but are NOT eligible to win. It’s a cool mechanism that basically makes sure the prize is always larger than just the money from the eligible deposits.

Once that’s turned on, all the prize pools will start collecting the reserve and at a later date governance can decide to dispense them however it wants.

So although I think figuring out an exact plan right now is probably a bit too early, I do think turning on the reserve just so it starts collecting does make sense.

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Want to cross post this from the discord with relation to turning the reserve on and considerations: Once POOL distribution rewards ends and the reserve is turned on it might lead to a dramatic loss in liquidity is the tldr.

“The way I see it is, the POOL token is sort of a placeholder for something we need to eventually fill. I ultimately think whales will act rationally. IF we can provide a better deal for whales versus leaving their funds at source they will leave their funds in PoolTogether. For that to happen, PoolTogether needs to offer better pot odds to whales than the sources PoolTogether uses. If we take the current USDC pool, the prize is 90k this week. Taking 5% of that is roughly $4500, After one year the treasury will have raised 234,000 USD and going forward assuming a 10% average interest rate, will contribute $450 to the prizepool each week… but we are taking 10 times that and diluting the pot odds for whales to leave their funds at PoolTogether. So turning the reserve on is only something I think should be done while the POOL token is distributed.”

I’ll also add from a whale perspective, the two key points that mean that PoolTogether return > Source return:

1). Another layer of smart contract risk
2). volatility of interest return

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I don’t like the idea. I don’t think it is realistic. In the long run it is better if there is a percentage that is returned back to token owners. Perhaps Chrarity gifts can be done once a year for Christmas.

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Thesis Statement: Solve tokenomics 1st or you won’t have anything to give to charity.

I understand your point of view. However I dont think the lottery has ever been a means of charity. It’s something the poor participate in but it makes them poorer. The benefit of POOL Together already is that the poor never lose money. The problem is with gas fees right now it doesn’t make sense to participate unless you have a lot to participate. Eventually gas will be fixed. However adoption is key. If you want to help a charity give your money to charity. Poor and rich we’re both here to make money. If we provide a way for POOL to grow in utility it will increase the demand and the price which means it will equally distribute value appreciation amongst all POOL holders not just the “winner”. It’s literally the best way to spread wealth creation. I run a nonprofit that builds schools in refugee camps. Charity ideally should be sustainable and able to touch as many people as possible and this is done as we build a solid foundation for the token utility and value.

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The sponsorship idea is very good…
If the big player quit then you still have. The accumulated funds generating prizes for the pool… i thin for the logivity and the self sustain prize reward this is something that should be proposed and be voted

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what if depositors could signal a charity to point to from a list of whitelisted orgs managed by pool governance and if they win - the reward goes to that cause?

could start with gitcoin grants and the ability to split that % between different gitcoin grants, just a thought.

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I think this would be difficult to implement from a technical perspective.

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So, they don’t give us the small players a % back for our deposits even if we don’t have ANY chance of winning this damn game, but, you want to give 2% for charity? What is the point? Does your money grow on trees? not jking… see no point.

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I would not be for that neither

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yeah thats fair, maybe my point was not thought out very well. donating to a list of orgs is maybe a bad a idea.

However, being a gitcoin grant contributor has shown huge benefits - not to mention the visibility you get as a project. Donating to projects on gitcoin grants specifically helps grow the underlying technology that the dapp is built in on - that is beneficial for everyone - I see that as a better option. If this proposal is to go forward in any way… just a suggestion on the idea of this proposal - I would totally agree if the community shot this down as you are right @DontMakeWar - money does not grow on trees…

i see donating to gitcoin grants as a calculated risk as far as return goes - so many retroactive airdrops, etc for supporting the ecosystem - who knows what will come of having your contributions on the chain when ethereum has really solved some of the scaling problems and is infiltrating multiple industries around the world. anyways, just my thoughts.

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I also love this. The more we offer similarities to “real-world” counterparts the easier it is for PoolTogether too be understood by outsiders (not unlike me a few months ago).

I think maybe instead of it coming from the prize pools though, maybe it comes from a portion of the interest earned from the proposed reserve. At least at first. That way new members don’t feel like their prize is getting “stolen” from them?

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the gitcoin contribution is a better idea than the charity contribution

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I really think that we all should receive a small part just for keeping our contribution. I mean, having my tickets with a low chance of winning is making those big whales win even more, because they fit the chances of winning. What I’m really trying to expose is that earned capital (from interests) should be more divided into community, doesn’t matter if you win the game or not. You should receive a part, because you’re making others win too, even with low chances of winning, sometimes even a joke.

I also like and agree about the git contribution part, part of another division as I said.

Best regards

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You automatically receive POOL for holding a deposit which is much more valuable than any interest.