I have something to say and I will say it my way. Please look at the Moon not at the finger pointing it.
I feel this community has been biased towards a mentality where any form or revenue is a steal and evil, while we are spending MILLIONS from the treasury and de-facto on the road to deplete it sometimes during this year.
We need to change this mentality: revenues are not bad per se.
Revenues are needed to pay all the costs implied in maintaining a project like PoolTogether. Will it eventually be an autonomous protocol when the project will be done? Maybe, maybe not. We are on the road to stop developing much before that will happen.
I got over the line sometimes these days because I saw much hypocrisy in the enlarged team: with one hand we consider revenues the evil to avoid, with the other hand we honestly, objectively, have spent the treasure money with no control and no shame. Everyone one involved knows this.
What I ask is just to be more realistic: do we want to continue the party?
We need revenues, we need to attract whales, we need to talk about $POOL token. This is crypto. Crypto is about MONEY and TOKENS.
We need to attract new eyes on us, we need to attract TVL, we need investors and holders.
We need to have a plan for the token and the plan must be fee extraction, like EVERY PROTOCOL DOES. Full stop.
We have to make in the documents, in the roadmap, that $POOL token will farm 10% (or watever we decide) from all the prizes. This will generate a snowball effect where new investor will buy early for a future revenue. New investors (holders, call them as you like) will share and market PT for free for us. They probably will deposit some TVL, and bring new people to deposit too. The more TVL the more their revenues from the fees.
About POOL token we made it all wrong. Everything. Sorry again but someone has to say it.
We diluted the token using it to pay TVL. We “printed” POOL and dropped to TVL depositors on V3, and what happened was that people sold it for a gain. It was inevitable. This must never be done again. Never create inflation.
Every time someone new comes to us and ask about the future of the token the answer are “we are not in here for the money, absolutely no economic gains will be achieved by holding or buying the token, shame on you for asking on Discord, go to Telegram or GTFO”.
Well let me say this is not wise.
We are using the token to pay certain works, again the only result we get is that either the worker dump for his revenue or we are giving votes to people that should vote for their future budgets. And the human nature is to vote YES to have more money.
We killed POL Protocol Owned Liquidity putting it in a V3 range that was written on the walls was going to be broken in the lower end. Doing so we basically gave more eth for POOL at the dumpers, again depleting the treasury of precious liquidity ETH. This is a bit technical but for the moment trust me, we will discuss it deeper later if I will still be here.
Edit: I did it
What POW should always do is deploy V2 liquidity, hence price agnostic, and burn the LP token in order to show investors that there will always be liquidity.
Max impact solution at the minimum cost:
Please please please change your mind about protocol fee and protocol revenues and token role. Please.
Show possible investors that POOL token will bring revenues and we will get visibility and money and TVL as a side effect
change Discord rules to welcome investors and talks about price market cap revenues etc, in the limits of the law and common sense
Remove the v3 liquidity now or it will slow down $POOL price recovery
Please if you agree with this change in politic toward the token comment here and share the voice. We need the remaining PT community to voice for this.