Part 1: 2% of the interest proportionally distributed weekly to all depositors. This would come from the prize yield.
Part 2: POOL holders receive a half percent boost to interest rate.
Voyager (VGX), the CEX uses this set up. It has so far been effective for them. I believe others have this function as well.
When gas fees are no longer an issue I think this should be the very first thing that PT implements.
The rates are obviously negotiable. I threw some out there. I know this has been discussed at length and gas fees are prohibitive. I really think this set up would attract both pool deposits and POOL hodlers. It is essential to retain players and an interest bearing savings account would be effective in my opinion. Whales could preserve wealth and fish would be able to slowly build their savings while still having a chance at big money every week. Feedback welcomed. Thanks.
This is short and simple. Genius!
Great idea! I agree with this proposal.
This would be great especially once liquidity mining ends and I really like the idea of a little bonus to POOL holders. I think the liquidity mining of POOL is a really great incentive at this time and would like to see revenue used to help build new products and build up a diverse and robust treasury. Would be great to have these funds in treasury accumulating interest for the platform and maybe in the event of a scenario where there is a hack or some loss of funds we would have this as a safeguard. My thought would be to have a period where we retain revenue and then slowly transition to sharing revenue with depositers and POOL holders down the road. Either way whether implemented now or after liquidity mining I like this proposal.
good proposal would be fine for a vote and we also have to give utility of $POOL a real importance and i m often a little disapointed when there is no regular new proposal to be voted when i m holding DAO tokens
whatever the utilities will be cause i’m sure we’ll find other ones as i proposed with the NFT farming but otherwise i just want to say that its important for token holders to be able to vote to feel the importance of doing so
Good proposal, short and crisp. The idea of a regular interest payout to all participants has been picked up broadly and is also at the core of Torgins kokoon idea.
PoolTogether is a savings prize game and so there are no savings involved to the average user. Incentivising masses to use PoolTogether for smaller, regular savings (assumption: low gas fees) through an interest rate that is still significantly larger than what they get on their traditional bank/savings account is good for long-term protocol growth.
Great idea .
Maybe we could adjust the % based on the total amount pool /week and readjust it every week.
The only thing that retains me here is that gas fees are TOO high to withdraw my DAI back. Obviously I don’t see the point of participating with 29 DAI’s I have, when there are people with 1 on 2.20 of possibilities or even less. I just find it ridiculously unfair because I didn’t know this was a RICH-ONLY game. So yeah… if you want to keep this game RICH-ONLY, keep going.
now we have a winner with 343 tickets, math works i guess
These ideas are on the right track I would say. You are right, gas fees are an issue at the moment and will not go away anytime soon. Octo.fi drops fees once a month to holders based on snapshot taken around the start and end of the month. You need to have the same amount of tokens at the end of the month or more to qualify for fees. I think you are free to sell between times though I’m not 100% sure of this. 100 tokens are the max amount you can earn fees on, but obviously you hold as many as you want. Thanks.
I had forgotten about this item, thank you for bumping it up. I think there’s certainly something to distributing out a small portion of interest or reserve out to depositors or long-term holders of tickets. Such an interesting idea and small way to reward the long-term players.
For those curious I think @meme is referring to this: OIP-17 Platform Fees & Distribution - Your All in One DeFi Community - OctoFi
I think this is a really interesting idea, and could be a long term solution for A) creating further inherent value in POOL tokens, B) getting POOL tokens to do more than just governance, C) A long-term answer that doesn’t slowly bleed the treasury of POOL through the current POOL pool staking-esk mechanic.
I don’t know where the interest would be garnered from to issue to POOL holders; the prize total, the reserve, something new and different? I would think that where ever the interest is gather, the distribution should be in the multiple tokens under governance, possibly just issued as tickets to the POOL holders? I’m not sure what the most gas efficient method would be, but maybe the most gas efficient method should be the driver there.
All-in-all I think an interest distribution like this proportional to POOL held would increase POOL utility and make it a far more attractive token.