By way of introduction, I am on the Business Development team at Bitcoin.com. We’d like to discuss a strategic partnership with PoolTogether in supporting a custom lossless prize pool that awards users in $VERSE.
$VERSE is Bitcoin.com’s ecosystem token. It provides utility and rewards to users of our products and services which include the multichain self-custodial Wallet, a decentralized exchange (Verse DEX), an award-winning news network, and more.
Please let us know your thoughts and considerations for this opportunity. We’re open to hearing your ideas on how we can make this a strong mutual beneficial partnership.
Thanks, and I look forward to hearing from you.
Welcome to the community
While something like this could be setup using the V3 contracts, I think it’d be a much better idea to wait until the hyperstructure is up and running (see here for more info on what we’re building: The PoolTogether Prize Savings Hyperstructure)
At that point, you could deploy a $VERSE pool in a completely permission-less manner, and have prizes setup to your liking. Usually prize pools work through some form of yield though - pretty much anything ERC-4626 compatible. Does $VERSE have something like that? Or are you envisioning it as a reward token for a prize pool comprised of another token?
Hi @Ncookie, apologies for the delay. Is there an expected timeframe of when the hyperstructure will be up and running?
Hopefully within the next 3 months.
Hi @Ncookie, hope you’re well. Are there any updates? It’d be great to continue the conversations.
Our latest update on V5 can be found here: V5 Development Update
We’ll be pumping out a ton more docs in the upcoming weeks to help everyone setup any vaults they’d like. My original comment still stands though - pretty much everything you’ll need is an ERC-4626 compatible yield source.
Thank you. To confirm, regarding ERC-4626 compatible - do you mean the wallet being able to autodetect deposits in yield-bearing vaults or something else?
It just means that whatever contract provides yield needs to be able to be wrapped by the ERC-4626 standard. Some rebasing tokens or yield sources that provide yield in weird ways may require a bit more work.
If the yield source is anything like commonly used protocols like Aave, Compound, Balancer, etc. it’ll probably be ok!
If you’d like to share a bit on how yield will be generated for this $VERSE pool we can give a bit more specific advice.
We could use the funds to deposit into Verse | Staking to generate yield for the pool with a bonus prize to a handful of participants.
What would be the next steps to proceed here?
Hi @Ncookie hope you are well. Kindly following up on the above. Thanks!
Apologies for the delay; we’ve been busy building
We’re currently beta testing the entire hyperstructure, but this aspect is very unlikely to see any change. We already have a neat app ready to deploy prize vaults for any token and yield source, but you’ll need a ERC-4626 wrapper for the VERSE staking contract.
Here are some examples of such wrappers for common protocols, by Yield Daddy. There’s plenty of others out there though. Ultimately the contract just needs support the ERC-4626 interface (deposit, redeem, withdraw, asset methods, etc.). It’s a powerful interface that allows for a ton of composability, not only from PoolTogether but many other protocols as well.
Once you have something like that, a PoolTogether prize vault can be deployed, configured, linked up to the hyperstructure and auto-integrated to bots to liquidate yield and award prizes in less than 5 minutes with no code required.
Do we have an ERC-4626 wrapper for the VERSE staking contract?
Yes you may say we do, as farms and Verse staking contract are issuing a receipt token back representing your stake that you may trade or transfer or use in DeFi protocols if necessary