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).
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.
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.