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
Right now anyone should hodl POOL but once the rewards phase out this could indeed be a benefit to POOL hodlers.
@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.
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.
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.
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.
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.
I was also thinking about staking $POOL to farm NFTS with the popularity and network effect based on the fact that the protocol is on and available for a while now, it wouldnt be hard to find a good artist willing to embrace the project and the concept to create a piece that woud appreciate with time, eventually, and i know i would be down with it if i dont want to use it for voting instead of selling it they would wait till the NFT is farmed for sure !
i guess even partnerships with a popular license would be easy given the popularity of crypto assets these days
Man, this was posted in February (and again in April in a separate thread), and I feel like there’s been a lot of “that’s a good idea,” but nothing ever happens. Sort of sad to see this was brought up almost a year ago to not effect. I think putting this off for so long has really hurt us, we really gotta make this #1 priority now.
It is the number one priority now. I know it’s easy to be dismayed at the moment, but apart from token price the protocol is doing really well. The recent price action has spurred a slew of creative ideas. We’ll get there. “The best time to plant a tree was 20 years ago . The second best time is now.”
Now that V4 is out of the gate, we’re multi-chain and have thousands of winners a day we’re finally ready. Focusing on tokenomics any sooner was probably a bit premature. We can blame the price action on our inaction, but DeFi in general has taken a pummeling. Nevertheless, we’re on it.
Totally agree. Let’s get it done.
So I apologize for my ignorance (I have been saying and will continue to say that a lot), but isn’t the ultimate appeal of the Pool token that it will be yield bearing in the future? Like once PT hits a TVL of $200,000,000 USDC in v4, the current prize pools can be self-sustaining so Pool hodlers could potentially vote to distribute a small percentage…like .1% of the yield generated back to Pool Holders?