PoolTogether

PoolTogether DAOs purpose

I’ve just finished listening to the most recent Bankless interview with Rune Christensen and hearing Rune talking about a Maker becoming ‘a purpose driven DAO’. Rune Christensen attempts to set out the mission for Maker holders here. Its a ridiculously long read, but the gist is, he is trying to align the DAO with the purpose of making Maker and DAI a system that promotes ‘Clean Money’. Honestly I think its kind of a brilliant idea. Maker holders currently are only incentivized to be stewards of the Maker and DAI tokens and make sensible decisions about collateral etc. What Rune is doing is trying to set out a grander vision.

Rune outlines how its important for a DAO to crystallize around a shared purpose or vision, something that aligns all participants and makes the goals and mission clear. This is actually very common in the context of traditional large companies.

Sometimes a purpose is demonstrated in a short phrase, or even in a specific end goal.
Space X wants to "make humanity interplanetary" with cheap reusable space travel infrastructure.
Diageo America wants "be the most trusted and respected consumer goods company in the world"
Apple Incs corporate mission statement is " to bring the best personal computing products and support to students, educators, designers, scientists, engineers, businesspersons and consumers in over 140 countries around the world.

You can find a whole bunch of these mission statements from various companies and institutions here.

What we would consider the mission statement of PoolTogether DAO? I cant think of ever having seen one described. Rune points out in the podcast that a mission statement or purpose is one good way to strengthen the DAO against governance attacks. If a governance proposal comes through that is not aligned with the objectives/purpose of the community, it is more likely to be rejected.

I do think that generally most participants in our community get the idea of the protocol and what it is supposed to be. For me, the purpose of the product is to enable ‘a trustless savings account with positive gamified incentives to save more money’. This is just something i thought up right here, off the cuff, and is pretty crap imho. @leighton sets out a Vision for PT in the narrative guide.

I wondered if we could brainstorm a really short phrase that distills the essence of what PoolTogether DAO is supposed to be and what we should keep in mind when implementing governance proposals in general. What is our purpose?
I certainly know what our purpose is not. To enrich token holders at the expense of user deposits and pool growth. But perhaps we can design a purpose that is representative of poth parties benefitting simultaneously, aligning all incentives.

“Does this proposal meet the objective(s) of the overall community mission statement?” should be a question everybody asks when voting on a proposal.

Im sure PT Inc team themselves have some ideas here about what they are trying to do. But maybe the DAOs purpose is slightly different. Or maybe its the exact same? I don’t know! Any ideas?

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I’m absolutely with the idea to have things like purpose, vision and mission clearly defined and openly accessible.
This is probably too short, but it might hit it on the spot, so I’ll just throw it in: “Make everybody win.”

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I can’t really sum it up in a sentence, but I see PoolTogether as a social good. The Lottery system is very exploitative and feeds off everyday people, especially the poor.

Ultimately, the goal of PoolTogether is to become the standard way to save in the 21st century and make the old lottery system obsolete. Pool together your assets with millions of others so you all benefit over time.

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I’ll add “and disincentivize gambling”

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Yes, and allow governance to use those funds for more social good. Maybe. I like how Rune is trying to build an innate purpose for DAI to be a green currency. That is a powerful position to be in as a cryptocurrency, especially with the narrative of crypto being a planet-killing exercise generally.

I can see PoolTogether also fulfilling similar purpose. How many times have people requested ‘charity-pools’ for example. There is a product market fit if i ever did see one.

PoolTogether could not just up-end traditional lotteries, but the administratively top-heavy charities of the world too. It is kind of ridiculous just how much wastage sucks up your charity dollars if you’ve ever looked into that.

Thanks for the input!

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i like to use “no-loss lottery prize pools” as being the summary thesis for PoolTogether.
but i also like the savings-alternative approach too.
downside to both imo is they still need some additional qualification before that ah-ha moment though.

a good way to achieve this would be to visualize it for users. we’ve had some grants come in recently looking to gamify the drawing process like a traditional lottery draw. i think that could add a lot to bridging the gap between it being too complicated, and it actually clicking for folks.