PoolTogether

[Proposal] Extend PoolTogether to the IoTeX Blockchain

PoolTogether Integration proposal

Introduction

IoTeX (https://iotex.io) is the decentralized network to power billions of devices/machines at scale. Its high-performance public blockchain has launched in 2019, run by 100+ global delegates, processed ~20M txs, and powering ever-growing Dapps ranging from DeFi, NFT, Gamefi to MachineFi. The community and the IoTeX ecosystem have grown 5x since the start of 2021 and they keep up the great momentum. IOTX, the underlying utility token of the IoTeX network, has been listed on binance.com, coinbase.com, huobi.com, upbit.com, crypto.com among many others, with 200M+ vol trading per day.

The proposal

So we propose the deployment of PoolTogether to IoTeX: we believe the PoolTogether Dapp would fit very well in the IoTeX ecosystem, benefiting from fast and final transactions as cheap a 0.0007 USD per transaction.

Quick facts about IoTeX

  • 5-second block time

  • 7.5 seconds tx confirmation time.

  • Instant tx finality

  • 20 Million confirmed transactions

  • EVM/Solidity/Web3 compatible

  • Built from scratch in Go

Relevant native Dapps

DEX

https://mimo.exchange a Uniswap-style decentralized exchange

Bridge
  • iotube.org a cross-blockchain, multi-asset, decentralized bridge connecting IoTeX<>Ethereum<>BSC<>Polygon
The Graph

We have a Graph node deployed and running to execute Subgraphs

Yield sources
  • https://cyclone.xyz (in full production on IoTeX, Eth, BSC, Polygon)
  • ioverse/zoomswap (about to launch on IoTeX)

Uniqueness of IoTeX

  • Flexible staking mechanism with multiple deposits per wallet, extra rewards for longer lock times, the ability to add a stake to existing deposits, transfer of deposits, and more.

  • Unique IoT tokenomics that rewards long-term stakers and burns tokens for every new IoT device identity that gets registered on the blockchain. IoTeX onboarded thousands of IoT devices to date, and growing by the day.

  • IoTeX created a " Verifiable IoT Data protocol " composed of hardware design + firmware + a layer-2 architecture that supplies verifiable data to layer-1 smart contracts

  • IoTeX has designed its own PoC IoT devices as a result of its academic research on the topic of blockchain + IoT

Hi all, we would really like to see PoolTogether deployed to IoTeX, how you guys think? What is your policy about extending to other chains?