Hey everyone, Lonser here,
as some of you know we currently have the Polygon POOL Pool with a weekly prize of 50 POOL!
So far the funding from it came from Leighton and occasionally from myself if needed (like the last prize and the current one because Leighton had some problems bridging the POOL from ETH).
I talked with Leighton and the idea now is to continue the Polygon POOL Pool with funding from Grants instead of funding through him or me. I would continue filling up the Pool and awarding the prize weekly. Also I will try to increase awareness of the Polygon POOL Pool to new users cause I have the feeling still some people donāt know it even exists.
I would propose we keep the 50 POOL per week. With the current TVL of 30.000, thatās ~9% APR.
That roughly the same APR we have on ETH. Also I would like to ask for a one time reimbursement of 100 POOL for me filling up the POOL last week and this week from my own funds and a monthly 10 POOL reward for maintaining the POOL. (The last point is not so important, I will still keep doing it like I did the last months but I would appreciate it as a little reward).
Iām a big supporter of the Polygon POOL Pool and I think with people being able to vote with it through snapshot (Snapshot), thx to PTIP-60 (Snapshot) and to give people that bought it during this weeks NFT mission (https://pooltogether.com/pool-party) a place to store their POOL while experiencing the fun of weekly prizes we have to continue it!
The total cost would be 430 POOL over 3 months. Like I said, the easiest would probably be funding this through Grants and Iām doing this GOV post see what other Community members think and ofc hope that you also support this
I would say we do it like this for 3 months and then look what PT INC generally plans to do with the POOL token and L2 Chains like Polygon and others
Do you support Grants funding the Polygon POOL with a weekly 50 POOL prize?
The amount being small is a good argument for funding it through Grants in my opinion.
I think it would be good to have a snapshot vote in addition to the poll here though. Since this will make the POOL pool on Polygon official, which it isnāt so far (although one could argue it already is through PTIP-60).
@Leighton would it be hard to add it to the v4 UI? As Lonser said, most people donāt know about it.
Thanks for taking the initiative here Lonser. I am FOR the POOL Pool on Polygon. I also think it should be funded by Governance.
I agree with Torgin, for this to make sense we need to have it on app.pooltogether. I think then we should expect more deposits and budget a bit more POOL per week for prize. Perhaps up to 100. Letās hype it!
I also agree a pooltogether.eth Snapshot is appropriate.
I donāt think it would be hard to add to the UI. Although, weād really want to add a drip if it was added to the V4 UIā¦ as that is what is primarily emphasized.
My initial thought is that if POOL voters approve it, then it should be added to the UI.
Thx everyone for the comments and votes so far. I understand Brendans critic and also think that long term the POOL Pools in their current forms (ETH and Polygon) are probably not the ideal solution.
Still I think keeping the Polygon POOL Pool funded and running for some more time is the right choice until some other ways are implemented to utilize the POOL Token.
With the upcoming plan for more liquidity on Polygon from TWG it will be even easier for people to buy POOL Tokens and deposit them into the POOL Pool.
Last but not least: Holding the POOL Token should be fun and exciting! Every week myself and probably other people are looking forward if they have won some POOL Tokens there. Pooltogether isnāt just a yield farm, our core principle are prizes and giving POOL Holders a place to store their tokens and win prizes is important.
Thatās my little pitch for the Polygon POOL Pool We can also do a snapshot vote about it if people wish, if someone knows how to and could assist that would be great.
The next prize will be awarded next Saturday, so if we could come up with a decision until then that would be great If needed I can fill up them POOL with my own funds one or two more times with later reimbursement
100% on board with you being reimbursed. Thank you and Leighton for keeping this going!
I think there is a ton of value of having something other than voting to do with a purchased POOL token. I think the majority of the token value lies within the power to vote, I also believes it takes a while to get to that standpointā¦this seems like a small/temporary and appropriate ask while we wait on a new tokenomics plan.
Iām on board with this for this time frame. I think it should be strongly re-evaluated once the new tokenomics are released.
I donāt think this should be on the site, I think people should need to ask about it. If it were published on site, then 2 things happen. More depositors that are likely collecting the token for non-governance related would deposit ā POOL doesnāt go into the hands of the people working, building, and believing in the protocol. And if this POOL Pool gets a chance to operate as a proxy like the ETH one, weāll run into the same issue of low turn out because people arenāt there for governance, they are there for farming.
We, as a protocol, need to become critically aware and cautious of token farming, we have extremely active governance with extremely inactive voter turn out. We need more tokens going to the people that are building and those that can and will vote.
I voted in support of the question āDo you support Grants funding the Polygon POOL with a weekly 50 POOL prize?ā with the assumption it will only run for 3 months.
I think this should NOT be added to the main app UI though. To Brendanās point, we have new tokenomics coming so we dont need to promote this pool. But it is such a small amount of POOL to fund the prize pool for 3 months, I think it is beneficial to keep the depositorās POOL in the pool.
As it seems most people also support continuing the Polygon POOL Pool for 3 more months and then we can look how what other Options we have
Also with so many people opposed to adding the Pool to the UI and I myself not being the biggest fan of it, I think we just donāt do it.
Without that step, we probably also donāt have to do a snapshot vote about the Polygon POOL Pool and can just fund it through Grants. @Torgin in Discord you said something about a Community vote, did you mean the vote here in the Gov forum or do you still want to do a snapshot vote?
Btw. I already submitted a Grant application, my math above was a bit off, 3 months are 12 weeks, so 630 POOL + 150 POOL one time reimbursement for filling up the POOL the last 3 weeks. (@Torgin Thatās 50 more than I mentioned in the Grant cause I filled up the Pool one more time in the meantime)
780 POOL definitely seems like an amount that fits a grant. Since without adding it to the UI nothing will change about āhow officialā the Polygon pPOOL is, Iād be fine with just using the poll on this post as signal that the community thinks itās a good idea. @Brendan would you prefer an additional snapshot vote?
