I also felt the magic back when we had weekly prizes (until I realised yearn takes it every week 
). Seriously, a larger weekly prize adds excitement, whilst I also see a sticky nature in many frequent small prizes (even 1$ makes many people including me happy).
3 Likes
I’m with Gabor on this for several reasons. Also thanks everyone for their discussions. I’ve enjoyed daily prizes while on polygon, after switching to Optimism not as exciting (harder to win).
What if we could have weekly or daily prizes AND a jackpot that is spaced over longer periods?
Our current grand prize is $1,010
I would look for a way to allocate a small % of the daily yield to be given out as grand prizes. For example right now with daily prizes of $4800, if we allocated 1% of that each day for a 3 month prize it would be $4320 jackpot (90x48). There would have to be some checks to use TWAB to prevent gaming but that’s the idea. Could bump the reserve % and increase the # of grand prizes too!
This could be repeated for longer time frames as well such as every 6 months or even yearly.
3 Likes
I’m very very much on board with this idea. On Optimism I’m not winning as much (at all, yet) as on Polygon it’s fine but, are we shooting for fine or fun? I’ll admit I didn’t think I’d be a proponent for the small regular prizes as much as I am, but there’s something awesome having a PoolyBot DM notification on my phone every couple days.
I’d much rather this frequent prize structure with an amount being skimmed and collected into a massive jackpot at a later date. Heck I’d go so far as to say that it could be interesting to have dual depositor status again; small and frequent prize pool (SFPP) or large and infrequent prize pool (LIPP). Both contribute interest to the overall “pot”. But the SFPP gets a smaller APR (example 2x Aave) but the prizes are daily. Whereas the LIPP gets a massive APR (example 5x Aave) but the prizes are monthly. In theory smaller depositors should SFPP and whales should LIPP, but who really knows how things would shake out.
2 Likes
Hi all, I’m fairly new to PoolTogether staking having just started about 4 months ago, but I’ve staked various amounts from $5-40K on both Polygon and Optimism.
I’ve come mostly to share my experience.
My OP wallet with $5K staked has won 0 prizes the entire time. I feel like it would be much better for this wallet to stake somewhere with consistent yield (if not for OP bonus yield I would have already). I imagine this is how smaller stakers feel with the OP prize distribution. I also believe this amount or a bit lower is what would be reasonable for a Defi onramp position in the market.
My OP wallets with $20K+ have various amounts of rewards resulting in fairly reasonable yield and some extra on top. This is pretty exciting to see how one could get lucky.
Having this experience and with user adoption and growth in mind, I think the idea of having both small rewards split between many wallets and having weekly or even monthly medium-large size winnings at the same time could actually keep all sized stakers happy (the smaller rewards could be weekly too, really). Small stakers can have some yield > 0 and also some chance at a much larger yield > market and large stakers can have high chances at yields > market and aren’t incentivized to move to something with stable yield and compound.
Something like a 70% pool for large monthly or weekly rewards and 30% for small rewards. Right now, with the Optimism rewards vAPR this is kind of how it feels already, but after OP yields end, it’ll be a hard sell to keep funds in the smaller wallet locked up.
With the smaller pool distribution it may make sense to have some sort of handicap calculation for wallets that have accrued many day-dollars without winning (beyond each draw). This would let small stakers feel confident that they’ll get something eventually and not push them to stable yielding platforms, while also incentivizing longer staking periods as the day-dollars would be removed as those dollars are unstaked. This could be important to see pool growth as the bonus rewards run out since there are no locks or existing incentives.
8 Likes
Thanks for sharing JB!