PTIP-47: Prize Adjustments

Governance PT Improvement Proposals
1

Summary

This proposal adjusts the prize distribution so that there are more prizes. The adjustments were discussed in Adjusting Prizes.

Abstract

This proposal will have the token holders select a prize distribution. The PoolTogether Executive Team will then use their multisig to make the required changes on-chain.

Motivation

We want more prizes! There should be more winners and more variety in prizes.

Specification

Overview

The prize distributions presented below add varying amounts of prizes at different costs to the protocol. Token holders should select the one they think will benefit the protocol and users the most.

Rationale

Rationale available in the original discussion

Technical Details

The PoolTogether executive team will make the required changes to the Prize Tier History contract on mainnet

Options

Option A

  • Adds 3279 additional prizes (3 + 12 + 192 + 3072)
  • Increases total payout by $18,564 / week
  • Bias towards smaller prizes
Prize Count Total
$2,500.00 1 $2,500
$500.00 3 $1,500
$200.00 12 $2,400
$50.00 48 $2,400
$10.00 192 $1,920
$5.00 768 $3,840
$1.00 3072 $3,072
TOTAL: $17,632
Change in Weekly Cost $18,564

Option B

  • Adds 207 additional prizes (3 + 12 + 192)
  • Increases total payout by $3,360 / week
  • Bias towards smaller prizes
Prize Count Total
$2,500.00 1 $2,500
$800.00 3 $2,400
$200.00 12 $2,400
$50.00 48 $2,400
$10.00 192 $1,920
$5.00 768 $3,840
$0.00 3072 $0
TOTAL: $15,460
Change in Weekly Cost $3,360

Option C

  • Adds 207 additional prizes (3 + 12 + 192)
  • Decreases total payout by $5,404 / week
  • Nearly flat distribution
Prize Count Total
$2,400.00 1 $2,400
$800.00 3 $2,400
$200.00 12 $2,400
$50.00 48 $2,400
$12.00 192 $2,304
$3.00 768 $2,304
$0.00 3072 $0
TOTAL: $14,208
Change in Weekly Cost -$5,404

Status

Gas-less voting is now open:

:camera_flash: Vote

1 Like
2

Why can’t it be nice round numbers like this? Also this is 98 more prizes given out every week than current prizes.

Prize Count Total
$2,500.00 1 $2,500
$500.00 5 $2,500
$100.00 25 $2,500
$50.00 50 $2,500
$10.00 250 $2,500
$5.00 500 $2,500
$1.00 0 $0
TOTAL: $15,000
Change in Weekly Cost $140
Original daily total: $14,980
3

The algorithm doesn’t work that way, but it’s technically possible to change it.

the algorithm is explained here