The PoolTogether protocol is being deployed to Polygon leveraging Aave on Polygon for yield generation. This is a big milestone marking 1) the first deployment of PoolTogether outside the Ethereum blockchain and 2) a new way to use the protocol with much lower transaction fees.
Due to Polygon being a “layer 2” connected to Ethereum the ability to directly link governance is still nascent. As such, we are following the lead of other protocols like Aave and initially governance on Polygon will be controlled by a multi-sig controlled by the core team. Functionally, this multi-sig will control very little and only be needed to 1) set reserve rates on Polygon and 2) ensure any reserves and / or farming rewards accrued are distributed back to Ethereum governance.
The plan for the initial rollout is to simply have one governance controlled no loss prize pool with the following parameters:
Tether as the asset type because interest rate is far higher than any other asset.
A daily prize with one single winner
Reserve rate set to 0% (but not that all the Matic rewards will accrue to governance so effectively this is the same as the reserve).
We are expecting that Polygon will also provide some Matic rewards, those are still being determined.
Of course, the prize pool builder will also be available on Polygon so anyone can create prize pools for the other assets, those will be listed under “community pools”. If community consensus to add new prize pools to the governance pools grows, that can be done as well.