The intention behind the protocol has always been to support many different prize pools with different yield sources, asset types, and prize distribution strategies. However, at launch, to keep things simple only a single Dai prize pool with one weekly winner was initiated.
Now that this Dai prize pool is live and the weekly prize has almost reached $10,000, it makes sense to launch with a new prize pool using a new asset type. Doing this will help out with a few things:
- Make it easier for users who already have that asset type to join a prize pool
- Increase the total number and amount of prizes the protocol is giving away which should positively impact KPIs
- Provide data on the popularity on multiple prize pools which will help inform next steps for the protocol.
The simplest implementation is launching a new prize pool using Compound as a yield source since we already have that audited. Below are the current yields being offered for different asset types we most likely would want to create a prize pool for, note these yields are inclusive of the value of the COMP distribution. Also note these yields change every minute and can swing dramatically, these are the current yields.
USDC: 6.17%
Tether: 13.25%
UNI: 1.59%
Dai: 5.06%
We’re planning to go live with a governance vote tomorrow (Wednesday 02/01/2020). Before that, I wanted to open this up to the community for any comments!
