PTBR-24: Automation & Support from G9
| Start Date | Jan 1st, 2024 |
| Duration of Work | 6 months |
| Budget | $106,450 USD |
Generation (G9) Software Inc. is a proud service provider to the PoolTogether protocol.
For this proposal we are offering to build incentive mechanisms, host the Cabana apps and provide developer support.
Scope of Work
Motivation
Outside of on-going hosting, there are two important efforts we wish to pursue:
- The POOL incentives should be automated and permissionless
- It should be easy to bootstrap a new vault to encourage growth
Permissionless POOL Incentives
The POOL liquidity mining program introduced in PTBR-22 has proven to be a success; with deposits growing from ~$10m to over $21m USD in about 7 weeks [Defi Llama]. However, the incentive program was created manually; vaults were chosen and given somewhat arbitrary amounts of incentives
We need an automated incentive program that:
- is permissionless. New vaults are automatically eligible for POOL tokens.
- is efficient. Vaults should receive incentives in proportion to their prize contributions. This means the vault incentives will be proportional to the underlying vault APR.
Bootstrapping Vaults
A vault begins its life with 0% chance to win; until someone deposits funds no prizes will be awarded. In a sense, the vault APR is zero until someone deposits. Why would someone deposit into a vault with 0% chance or APR?
A newly launched vault also won’t appear to have any of the above POOL incentives because it hasn’t contributed yield; it must contribute prizes to receive POOL so without prizes there are no incentives!
We need to make it easy to bootstrap vaults. This means that:
- We need to contribute prizes on behalf of new vaults so that they receive prizes and incentives
- Ideally we can bootstrap in a no-loss way
Goal
Our goal is to improve the permissionless nature of PoolTogether by making it easier to add new vaults.
We will also support those who wish to build on PoolTogether. This means continued hosting for the apps, bug fixes, and developer guidance for those wishing to spin up their own apps, bots, vaults, or otherwise.
Deliverables
Permissionless Incentives Contract
We will create a new contract, similar to the Twab Rewards, that distributes rewards across any vault that contributes to the prize pool.
The rewards will be visible in the Cabana UI.
The new contract will be audited by Code Arena.
Bootstrapping Functionality
We will give users the ability to contribute their smaller won prizes to another vault. This will enable anyone to use any of their deposits to help bootstrap new vaults, while keeping their chance to win the grand prize.
The feature will be integrated into the Cabana app.
Cabana App Improvements & Bug Fixes
G9 will:
- Fix any issues with the Cabana apps or infrastructure to ensure uptime
- Improve the Cabana apps and incorporate feedback from the community as time permits
Hosting of Cabana Suite of Apps
G9 will continue to host the Cabana suite of apps at https://cabana.fi.
Developer Support
G9 will retain developers and have them on call to:
- Assist the community as needed
- Provide guidance for builders and partners
The developers will be available on Discord and at least one representative will attend the Council calls each week.
Timeline
- Permissionless incentives will be live by end of Q1, 2025 in time to transition the existing incentives.
- Bootstrapping functionality will be live no later than end of Q1, 2025 but likely sooner.
Budget
| Amount |
|---|
| $106,450 USD |