PoolTogether

Expanding the Stablecoin Pools on Polygon

X-Posting from Discord:

In regards to adding stable coin pool on Polygon, this is a super ridiculous first draft that I did in 15 mins. I think there could be a good opportunity as a development learning project for some people who are interested (like sharing notes, or myself). I would like to maybe organize a few people who are interested. Any suggestions on how to do that would be appreciated.

Also, there is some bias in here because it is my opinion on what works and where the market could go. Looking for others input to build consensus.

Polygon New Stablecoin Pools

Objective: Introduce additional stablecoin pools on Polygon.

Motivation:

Polygon TVL

There is a ton of TVL currently on Polygon ahead of the Layer 2 launches (like Arbitrum and Optimism). Some of the people who have been using Polygon over the last few months have grown comfortable and enjoy the extremely low gas fees. The hypothesis is that once the other Layer 2 options open up, some (maybe upwards of 80%) of the TVL will move from Polygon. This still leaves a large amount of TVL on Polygon.

Bear Market / Volatile Market

If we are headed for a bear market, then people are going to look for a place to park their stablecoins. Pool Together offers a very appealing place to accrue stable coins over time in preparation for another bull run.

Concerns:

Incentives too Low – Without a POOL drip or a MATIC drip, then the incentives may be too low for people to join.

Aave yield is too Low ­– Without high APRs on Aave and a large amount of depositors, the prize pool might be too low.

Visibility of Pools – Pool Together is not very well known on Polygon just yet. A lot of the people on Polygon are chasing makeshift APRs and various other schemes.

Addressing the Concerns:

Incentivizing Depositors

Proposal 1) NFT incentive

Option 1: Airdrop Pool Together NFT to all depositors manually. Take snapshot of pool tickets holders on Polygonscan at the end of week 2, then take second snapshot at the end of week 6. Use multisend to airdrop to all who stayed in the pool.

Option 2: Implement a “quest/reward” model like Zapper. Create a smart contract that can mint the NFT if certain criteria is met, like holding ptDAI for a certain amount of time. Would need contract development and implementation of the reward interface on whatever site we develop. If it is a success, it could be extended to the Ethereum pools. Could even add a 1 MATIC minting fee that gets accumulated and then raffled off.

Proposal 2) On hold for others input

Addressing the Yield Source
Proposal 1) Launch with Intention

There are currently additional yield sources being added. By the time we build the infrastructure to properly launch the new pools, the new yield sources will have manifested.

Raising Visibility of a Community Pool

Proposal 1) Reach out to the polygon community

Maybe there is a way that we can get a small (or large) sponsorship from a member of the Polygon community. This could serve as free advertisement for them as we would give the sponsorship money back after a certain amount of time. We could include them on the NFT and on the website

Proposal 2) Let’s make a Polygon-Like UI

All the farms on polygon are some version of copy pasta Pancake swap using React. Maybe there is a way that we could put together a Polygon Pool Together UI in the same light so that people feel comfortable with it.

Proposal 3) Makeshift pump a coin for visibility

This is ambitious and the logistics would have to be sound so we don’t shoot ourselves in the foot. People on Polygon chase pump and dumps everyday. They boot up dex.guru or slingshot. What we can do is create a token “go to pool together.com” (or the link of our Polygon React Site). Then we makeshift pump it on a Dex so that people do a google search.

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