I’m hype for prize splits, and honestly I feel like they could be their own subset of PoolTogether with it’s own ecosystem.
The obvious callouts are a prize split where most if not all the interest earned is given to a charity. Or the prize is split with the interest funding gitcoin grants or a multisig to fund projects on gitcoin. Or the prize goes to a research facility or a local initiative - does Detroit need a prize split pool to build a new community pool for a neighborhood?!
But I think there’s so much more that we could be doing with this!
Take PTIP-30, what if we had a pool the community could dive into where the prize is sent to help fund C4 423N4 and further the partnership with PoolTogether. Maybe drip some ppool to depositors for believing and supporting the effort. Or maybe we wanted to fund quarterly reports from Llama Dao.
How about Kris Kay our LetDoDefi connection, I know Pool Grants has supported his efforts, but we can go further with prize splits. What if Kris Kay has a prize split pool call it 50/50 (50% to him, 50% to a random, lucky winner(s)). PoolTogether sponsors the pool to boost the prize, we as a community can support his efforts, and he can advertise to his 4.4k youtube subscribers that there’s a pool just for them that the protocol is sponsoring. That special pool helps pay him, and they still get a chance to win a prize. Maybe PoolTogether sets a 5% reserve or something small on top of this so we have revenue coming in. This could also go for ThumbsUpFinance, who’s bringing some A game about PoolTogether to his blog(s) too.
But let’s get even more crazy. Let’s talk a Bankless subscription. What if instead of paying $22/month, you just deposited 200 USDC into a Bankless prize split pool for some ptBANK tokens. You’d go to Bankless, connect with your wallet and if you have >=200 ptBANK, you have a subscription to Bankless for all the different products and news they offer. Say Bankless split 90/10, every subscriber could then have a chance to win a small prize and could gift or sell those extra ptBANK so others can accumulate a membership. Who knows maybe at that point Bankless could have a tiered system >=25 ptBANK and you can access only the full news feed → sounds like an easy gift to give that Uncle that’s just getting into crypto. Also PoolTogether could also skim a cool 5% reserve from that as well, who knows.
This also opens up forking things like Substack in to Web3. Some platform provides the blog, PoolTogether provides the payment system. We could then have a prize split pool for someone like Accelerated Capital. PoolTogether could set the reserve to 5%, half of the fee Substack charges and the gas cost become the Stripe transaction cost. And again Accelerated Capital could develop some tiered system for their content if they wanted. They could split the prize so their subscribers can win a prize. And on and on it goes.
Continuing the fun, any subscription service now has a built in random giveaway tool should they want it. Someone like Bankless could toss an NFT in their ptBANK prize pool to give away randomly. Perhaps an enhancement for PoolTogether Inc. would be allowing the lootbox to split the prizes in the lootbox to winners. Say a prize split has 15 winners and the lootbox has 15 of 15 NFTs, each winner would be awarded 1 or the 15 NFTs.
Apologies for the text wall, but I really feel like this is about as low as hanging fruit gets and we just need to figure out how to capitalize the prize split feature into subscription models for content creation and charitable/grant/research giving.