PoolTogether DAOs purpose

Going to resurrect this post to continue this line of thinking as I think many on the Other Internet call this week thought something like this would be valuable.

I suggested that something similar to the ENS ‘constitution’ and made my own attempt at a similar set of principles that would fit PoolTogether. I suggested the following:

I. PoolTogether is a protocol for No Loss Prize Savings
No user will ever withdraw their funds from the protocol and come out net negative in regards to their deposits, but may indeed come out positive through prize wins.

II. Prize yield grows future prizes and funds operation of the DAO
The primary purpose of prize yields is to grow the prize reserves and provide bigger prizes enabling future growth in deposits. A secondary purpose is to provide enough revenue to the DAO to fund ongoing development and improvement of PoolTogether through smart contract development and auditing, marketing of the service and integrations with other projects.

III. Having fun and a positive, gamified savings ethos is at the heart of PoolTogether
The socially positive value of saving money is enshrined down at the protocol level of PoolTogether. We will leverage this to create a fun and engaging environment for all users of the protocol and within the DAO itself.

IV PoolTogether will make traditional lottery games obsolete and become the biggest prize savings game in the world
PoolTogether up-ends traditional lotteries that are value-extractive to users pocket-books. It hijacks the human desire to gamble value in the hope of a future windfall by making sure the user never loses money. However users can still receive a windfall or smaller sustained winnings over time that will create effectively an ‘invisible APR’. Ultimately, this will promote better financial health for millions around the world.

I think ultimately anything we do is mostly symbolic and thats fine. If people feel strongly about it, we can have some sort of formal snapshot vote on it or something. Or it can simply be a ‘guiding light’ that users see when joining our user discord. It sets up the right framing of what PT is aspires to be. It combines our disparate operational teams and working groups with a consistent set of guiding principles. The idea here is just to have an outline of the ethos of PoolTogether. For anybody that spends enough time in the community, you will have picked up on most of these ideas already. But it would certainly nice to have them laid out right? :slight_smile:

The decision to exclude things like “Increase the value of the POOL token price” is deliberate. Yes, token price is an important metric to the health and runway of the treasury, but it is a means to an end, (protocol growth) and not the primary focus. And generally such discussions in the community are not found to be particularly interesting or engaged in a lot.

These are just my ideas on a set of guiding principles. Would love more feedback!

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