PoolTogether

PTIP-51: Authorize Avalanche Deployment

PTIP-51

Simple Summary

Authorize the deployment of the PoolTogether protocol on the Avalanche blockchain, transfer $250,000 USDC to seed the prize distributor contract on Avalanche.

Motivation

The new PoolTogether is “truly cross-chain” meaning people can deposit on any chain and have the same chance to win the same prizes. This makes expanding to more chains advantageous because each chain does not need to bootstrap its own deposit base and prizes.

Avalanche is a popular blockchain and providing the protocol on this blockchain will reach new users and grow overall deposits.

Rationale

There are many EVM compatible blockchains the protocol could be deployed on. However, currently Avalanche is the simplest to deploy to because 1) a deployment of Aave already exists for yield generation 2) USDC is available 3) multi-signature wallets are supported and 4) easy bridging from Ethereum that works with Wallet Connect.

On top of these technical reasons there is an assumption that Avalanche has a different user base than Ethereum and Polygon and therefore will reach net new users. We also expect that Avalanche will help promote PoolTogether and the protocol will benefit from that.

Technical Specification

The technical specification lays out the technical details of what is being proposed. This may include:

  • Transfer $250,000 ScUSDC to 0xDa63D70332139E6A8eCA7513f4b6E2E0Dc93b693 (executive team multi-sig)

  • Authorize the deployment of the contracts

Status

This proposal was already discussed and polled here. next step is an on-chain vote.

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