PoolTogether

PTIP-2: Change Reserve Rate from 0% to 5%

PTIP-2

Simple Summary

Change the reserve from 0% to 5%.

Abstract

This proposal will change the reserve rate from 0% to 5% by setting the Reserve contract’s reserveRateMantissa to 50000000000000000 (which is 0.05 as a fixed point 18 number).

Motivation

PoolTogether needs to start capturing value for the treasury while the prize pools are so large. The whales are here to farm POOL so we need to take advantage.

Specification

Overview

This PTIP will update the Reserve contract’s reserveRateMantissa so that reserve is captured by every prize pool. The reserve will apply to the yield of each prize pool, and must be pulled in individually from each prize pool.

Rationale

It’s a simple parameter update; no rationale is needed.

Technical Specification

The on-chain proposal will have a single contract call:

contract function parameters
0xdb8e47befe4646fcc62be61eee5df350404c124f setRateMantissa(uint256) 50000000000000000

Status

Depending on what stage the proposal is in you must include:

Forum Poll

Snapshot Vote (this was done prior to PTIP definition)

On-chain Proposal