Launching the Next Prize Pool

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!


I like the idea of launching a new prize pool. I have UNI tokens currently locked in Compound for almost 2 months but I’d be happy to deposit them here.


UNI would be fun! That would be the first non-stable coin pool. However, the yield on UNI is pretty well. It will be interesting to see which one is most popular!


Might also just be helpful to keep an eye out for historical rates (such as on loanscan) - but think this would be a fun pool to roll out!


Yes, we will include historical average in the actual vote – the spot rates are a bit misleading :slight_smile:

One possibility for a new pool is that it doesn’t have its own separate prize.
We could for example have a USDC pool that shares its prize with the DAI pool. This would literally just open up the same pool for multiple currencies.
There are some details to be figured out, like how to handle the varying interest rates and what currency to pay out the prize in, but those are design decisions.
This would negate the problem of a pool having a small number of users and hence a small prize (to some, this may be a feature, not a bug).
I think it could make sense to do this alongside completely fresh pools and see which is more popular.
Let the experimentation begin!