PoolTogether

Create a pool for POOL

Starting this topic to just get the ball rolling, as this is a no-brainer…

Want to test the waters here before working on a formal proposal…

Let’s go!!

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Great idea. Ideally you would still allow for these ‘POOL tickets’ to participate in governance themselves.

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Nice idea, but this would not generate much of a prize, because the amount of prize is dependent on the interest accrued from lending on Compound.

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Great idea! Let’s do it and start rolling!

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I agree, that’s a great Idea

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It’s a great idea, but you have to find a solution to have sufficient interest rates because the POOL token has no utility outside of PoolTogether, it will have to be added on the large liquidity provider platforms like Compound, Aave, SushiSwap and Uniswap i think…

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Yes, we would need a yield source. If Compound or AAVE listed POOL, making a POOL pool would be easy.

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Yes reat idea to use my pool

We should divert a portion of every prize to a new pool for POOL tickets, and run the pool lottery monthly.

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Thanks for sharing the idea @axk clearly this has a lot of support!

We COULD do this without a yield source if we wanted to, we could use the “Stake prize pool” design, the same on that Barn Bridge is using for the BOND token (https://community.pooltogether.com/bond)

The good thing is that

  1. we could launch this very fast

  2. gas is much lower to deposit because there is no yield source

In this situation, we would just allocate POOL tokens to the prize (in the same way BOND protocol has).

This also could potentially be another way to achieve gas free voting. If the prize pool was updated a bit then whoever created it could vote on behalf of the POOL tokens deposited. Then the depositors could use snapshot (this is the same way that Compound hanldes the UNI market).

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I think ideally having a yield source is better than just allocating POOL tokens from the treasury.

However it will take a bunch of little steps to getting POOL listed on Aave, Compound, etc so starting with something probably makes sense. Then can upgrade it to include a yield source once that becomes available.

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Yeah I don’t like the idea of having a staking pool for POOL that’s financed with newly minted tokens. I think having those allocated to yield farming for the main pools is way better. Rewarding existing POOL holders with more POOL is too Ponzi-like for me.

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Wonder if the community would be willing to take a step towards slightly riskier pools for LP tokens (POOL/ETH on Balancer for instance) - and stake their claim to win a small part of the LP fees (which could be decided upon by governance) and the resulting BAL rewards.

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@Praneeth I think there should definitely be Pools with different yield sources. They could exist alongside the Compound pools. A dev needs to write the integration code. That work could be rewarded with POOL tokens from the treasury.

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The team would need to support this. But if they supported this it would instantly help with the POOL utility. And possibly be the only thing needed.

POOL tokens generating POOL would generate a prize.

This would be good and here’s an extra idea someone else mentioned.

  1. Turning on the “reserve”, the reserve is a % that can be set by governance to take from prizes. Previously this had been set to 5%, it’s currently set to 0%.

This is a more long term approach because it gives increase demand for token. Because as the POOL users grow then this prize value grows meaning the token demand would grow. The idea of creating a POOL for POOL is still good but only changes which hands the token releases go to. So the inflation (York release supply) hasn’t changed. Your idea is very very good I just think we should also do a reserve % that goes to POOL holders or is used to buy tokens in supply and burn them.

Another thought is if you have a revenue system that takes a % from all pools you could have % of that revenue be a prize in the POOL pool.
% to the POOL pool prize
% as rewards to holders
% to Treasury for governance to decide how to use on different projects later. Could get reinvested to bring a constant income to something like a Fair lottery.

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100% just and necessary

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Hope to see this implemented in the near term ! Been waiting too long for this xD

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