PoolTogether

Give POOL token more utility

If POOL token had more utility the value would increase.
Maybe people could enter the same amount of POOL as they do DAI into the lottery. Giving them more chances to win the DAI interest. This would incentivize people to Buy/Hodl POOL and increase it’s price over time.

16 Likes

Not a bad idea. Devs should look into this.

3 Likes

while i am not sure how depositing $POOL into a Dai Compound contract would work, i can suggest something else.

If the community thinks it is a good idea, $POOL could be submitted to be listed as an acceptable currency in marketplaces like opensea/rarible.

Pros:
-increased utility
-people/organizations that want increased voting power in PT can directly exchange digital goods for $POOL
-increased awareness of PT/$POOL in circles outside of DeFi

Cons:
-potential for $POOL to be diluted among wallets that don’t value PT protocol
-less token friction means easier vote power transfer

5 Likes

100% Agree…

How I would implement it would be…

  1. You can ONLY enter UP TO the USD equivalent lottery value of the POOL tokens you hold.

  2. This would be applicable to all pools so you can enter multiple pools at the same rate.

OR to “gamify” 2, by sharing the POOL tokens across the pools, so if you had a total of 80 POOL tokens… you can enter 50 POOL tokens USD equivalent for one lottery and be left with the remaining 30 POOL tokens USD equivalent into another lottery.

No POOL token is burnt or lost.

3 Likes

Agree, really needed

Give POOL token more utility

agree ,really needed

I have an idea that might incentivize POOL hodling. How about the loot box lottery only goes to those who deposit POOL tokens? What do you think? Just a quick thought

3 Likes

Right now anyone should hodl POOL but once the rewards phase out this could indeed be a benefit to POOL hodlers.

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@gabor, What is incentivizing people to hodl POOL right now? (I am relatively new to the project)

Currently the ability to vote or delegate is the driving force to hodl. PoolTogether is still very much evolving and improving. Hodling and delegating your vote (to yourself or someone else) gives you the ability to directly impact the direction of PoolTogether.

1 Like

by “everyone should hodl POOL” I meant that everyone received rewards for their tickets based on deposited value and therefore hold POOL tokens in their wallet.

I think there there is an obvious need to make POOL more useful / productive. But there is no rush.

It will take time for the market to decide a fair price for POOL tokens, and for the community to establish ourselves and to think about how we can use POOL. There are lots of things we can be spending time and resources on, I’m not sure that POOL token utility should be the highest priority.

I think the thing to do for the pool token is very simple! whoever wants to keep it as a management token. Like other pools that do not want to be able to stake and earn rewards

Totally agree. Very very good idea.

This is my opinion. I’m the president of 2 companies and have been a crypto investor for several years. The Kokoon solution doesnt provide any solution to the original problem which is POOL token needs more utility.
OTHER IDEAS TO INCREASE UTILITY

  • Have POOL holders get better odds in pools.
  • POOL holders generate a small guaranteed amount of a Pool.
  • POOL has a liquidity revenue generating function for remaining tokens.
  • POOL holders make a commission % on all pool rewards. So all pool give a % of reward to a pool that only goes to Pool token holders as a lottery win.
7 Likes

I think these are fantastic ideas. I know that many people are focused on other things which are equally important to the pool token. However, tokenomics is very important in crypto. We will retain more users if people benefit from holding pool in a tangible way. In turn if the price of the token increases more people will become aware of the protocol. It’s a positive feedback loop or self fulfilling prophecy.

1 Like

I don’t know if the idea has been suggested , but we could have a pool for $pool token . Small percentage of total lottery will be sent to pool stalkers .

I don’t really have a suggestion for percentage , but maybe 5 percent weekly will go to pool stakers . Basically gives incentive to hold pool while the platform keeps growing .

Having a small % of each prize pool distributed to $POOL token holders would create a kind of “passive income” and incentive to hold the POOL token.

1 Like

That will disadvantage non POOL holders and acts as a disincentive for new users. It’s akin to giving the house an edge. I don’t think we should do that.

I agree with giving an incentive to Pool token holders. I don’t think voting is enough to get the community to hold their tokens. Any of the ideas suggested are better than leaving it the way it is. I’ve been part of PoolTogether since nearly the beginning. I’ve flirted with the idea of taking the value of my Pool tokens and then talked myself out of it more than once. Anyone holding their tokens should be rewarded in some way. Just my opinion as a regular joe involved in PoolTogether.

1 Like