Since the POOL token launched, a community of contributors has grown around the protocol. This is a very good thing! The activity comes in many different forms from different people but the shorthand expression of “PoolTogether DAO” has sometimes been used to refer to it.
But what is “The PoolTogether DAO”? Each person you asked would have a different answer. As of today, it doesn’t mean anything specific, it’s just a catch all phrase to identify the tens of thousands of people who use or contribute to the protocol in various ways.
Despite the ambiguity, the emergence of the phrase “PoolTogether DAO” points to a real desire people have to contribute to the protocol. It is therefore important to 1) create clearer ways for people to contribute to the protocol and 2) determine if a “PoolTogether DAO” should be created and how it might be structured. The ultimate goal being to create processes that are transparent and non-hierarchical while also enabling coordination and clear on-ramps for entities that want to contribute.
PoolTogether community members are likely already familiar with the PTIP (PoolTogether improvement proposal). It’s a template for submitting proposed updates to the protocol. This template has simplified and unified the submission process.
A new template is being introduced named Team Budget Requests (TBR). It’s a template specific for requesting funding for “teams” to do work in the protocol ecosystem. Similar to the PTIP, the goal is to provide a simple and unified template that can be used. This should 1) make it simpler for people to understand how to contribute 2). Make it easier for POOL token holders as they evaluate and vote on requests and 3). Improve coordination and accountability among “teams” that receive funding.
Similar to a PTIP, all TBRs should first be submitted in draft mode with the request for comment tag (RFC). Then a finalized proposal and vote.
Note, the word “teams” is being used loosely here. More on that below.
As more and more companies are contributing and using the protocol in various ways, there will be an increasing need for some level of communication and coordination. However, it’s imperative that both the protocol and community remain maximally permissionless and decentralized – to achieve both of these goals, a new discussion forum is being proposed called “The Council”.
Similar to the every Friday community calls, there will be a council meeting every Tuesday. The meeting will be open to anyone who is on any team. The purpose of these meetings will be to update the other teams on progress and collaborate as desired or needed.
Anyone entity receiving money for contributing to the protocol needs to be doing so in a legally compliant way. For that reason, it’s important that “Teams” = legal entities.
Disclaimer – none of this can be relied upon as legal advice. I am not a lawyer. Anyone with legal questions should consult a lawyer.
At this stage, there has never been and there is not currently any proposal to create a “PoolTogether DAO”. That would mean formally voting to create an entity and defining what a PoolTogether DAO represents and who is in it. Doing this might be advisable at some point in the future and it will be important for community members to keep in touch with the latest legal thinking. Anyone is free to put forward a proposal towards those goals if desired.
What is most important to keep clear is that just like today, POOL token holders will not have any control of the entities that may receive distributions from the protocol. For example, if POOL token holders vote to distribute funding to Code Arena to perform smart contract audits. Token holders do not control Code Arena. The POOL token solely controls a limited set of action on-chain for the protocol and does not control any people or companies. Likewise, no people or companies work for token holders or are managed by them. The protocol remains non-custodial with all user deposits outside the control of POOL token holders and only controllable by depositors themselves.
This post provides a high level framework we can pursue. Assuming there is alignment, some of the major next steps are the following.
- Review drafts of current TBRs
- Consider if you would like to create a TBR, to get started reach out in the #council-chat on Discord
- Continue discussing on if a PoolTogether DAO should be created
To be perfectly clear, all of the above is simply a framework intended to make it easier for teams contributing to the protocol. This framework is 100% voluntary, it can be used by anyone but it does not need to be used or followed. It is a recommended path but ultimately the protocol and the community remain permissionless and decentralized.
No, this new process is simply additive and helps clarify. This is not intended to eliminate or stifle all of the informal contributions that are happening. These will always be encouraged!