PoolTogether

Idea to Incent More Players - Distribute Some Interest to All Players Who Have Played Multiple Successive Sessions

Some great ideas here about stabilizing the long term stability of the platform - for instance the establishment of a reserve taken from the interest that would otherwise go to winners. I also think you would incent usage of the platform if some portion of the winnings was distributed back to all participants in the form of pool tokens periodically. The “maths” would need to be thought through but say a portion of interest earned would be collected and then distributed back to those who played the game. For instance, 5% of interest earned goes to reserve, 3-5% of interest earned is redistributed to all players who have played for the last four consecutive sessions and the rest goes to the winners. This you actually earn something no matter what if you are committed to playing longer term. As things stand now this game makes a ton of sense for people who have a lot of tokens in a platform as they can dedicate some of their holdings to other passive income paths and let the remainder ride here. But the average Joe really doesn’t gain anything here. As usuage of the platform grows I could see a scenario where as much as 20% or more of the interest would be distributed back out to all longer term players and 80% being dedicated to the lottery. That makes this not only a “no loss” lottery, but a guaranteed gain lottery.

You already gain something by playing the lottery because you are getting POOL tokens by virtue of yield farming proportional to your deposit?

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Quick question, how much pool do you think I would get for depositing 20 UNI in the pool? Currently it costs over $200 to put 20 UNI in a pool. That’s so terrible!!! I want to join but these fees are just crazy.

There is an experimental batching for UNI deposits to pooltogether here: Experimental Experiments

I haven’t used it so I don’t know how much cheaper it is but it may be something you can use. Costs about $15 to approve the contract and then probably a normal transaction fee to send into it. so maybe it will cost $20 in total. If you can time it when the gas is relatively low could potentially be cheaper.

You’ll earn 0.008 POOL/day currently so it would take around 125 days to accumulate 1 POOL at the current rate.

To generalize @ageless’ answer. You will farm POOL tokens proportional to your deposit and the total tickets in the pool and the drip rate. With a driprate of 255,1 POOL per day on the UNI pool, this becomes 20 tickets (for your 20 UNI) out of a total of 614000, so your yield is 20 / 614000 x 255,1 POOL / day = 0,008 as @ageless mentions. Hope that clears it up.

Thanks. The platform does a HORRIBLE job of making this clear then. Say it directly on the front page of the site. And earning 1 POOL over 125 days is not exactly an incentive. I imagine you’d get so many more people to play if you cut down the lottery award and tossed out interest to those who played. Even at 70/30 I suspect you’d end up with much larger pools for the winner than at the current construct.

It does say that right on the frontpage of the pool (the APR number)? And if you click on the pool you want to deposit in, it’ll show a detailed table (Pool’s stats) for how much POOL is dripped to the participants.

If you just remove the lottery award and distribute to the people who play, then you are basically a front for compound (or other yield sources) and not a lottery anymore. That defeats the whole purpose of this project. If you are interested in reading more, there is a whole discussion going on with respect to how to optimize and grow the prizes you can win as a lottery participant through the introduction of a reserve rate.

But you are right that at the moment, gas costs are simply too high for small deposits to yield a decent return.

He does make a point here though. Gas is the killer of this app, and yeah it’s part of the program but it’s cost prohibitive. Sure you get some POOL tokens for keeping your money in, but for fish it will cost more to move those tokens than they are worth. Costs a lot of money to get tickets in, costs a lot to get them out. Costs again to move your POOL tokens so you can vote. I had high hopes for this app, but so far it’s just a place I keep crypto until it’s worth it to move it out.

I joined PrizePool about the same time I put money here and week after week I’ve seen some returns even if they are pennies where here I’ve seen none. And it’s free to move money in and out so the smart bet would be this app is a money pit and it will continue to be so as more ideas like this to give some back get shot down. My 2¢ anyway.

There’s a hand full over items currently in development to help mitigate the gas costs. One such being a pods type mechanism where a handful or more of people can deposit together in one transaction. Cutting gas costs and giving their pod a slightly higher chance to win compared to each individual on their own. Downside is, if the prize is won, it is split amongst those in the pod.