[RFC] PTBR-12: PoolTogether <> Generation Software Inc. Q1 2024

Governance PT Budget Requests
1

PTBR-12: PoolTogether <> Generation Software Inc.
Start Date Jan 1st, 2024
Timeline for Deliverables 3 months

Generation Software (GS) is a software consultancy specializing in web and blockchain applications. This proposal offers deliverables and IP in exchange for compensation.

Our Team

Our company is comprised of PoolTogether community members and ex-employees of PoolTogether Inc. who hold deep knowledge of the technology, our history, and the vision for the future. In the past we’ve made core contributions to the protocol, so we have direct hands-on experience.

Review of Previous Scope of Work

In PTBR-7 for Q4 2023 we requested funds to launch PoolTogether V5 and develop a rewards system.

Public Launch

PoolTogether V5 was successfully launched! The new protocol has been running since October 18.

We’ve also shipped many improvements to the app, bots and subgraph infrastructure during this quarter.

Token Branding Guidelines

We published token branding guidelines on Figma.

Brand Identity Kit

We published an updated PoolTogether brand kit on Figma

App Design Kit

We published a PoolTogether V5 App Design Kit on Figma

Rewards

The Cabana app now supports Rewards using the same kind of Twab Reward system as in PoolTogether V4. The protocol can now liquidity mine!

Anyone can permissionlessly add Twab Rewards for users. Rewards need to be whitelisted in the Cabana front-end, however, so that people can’t spam with malicious tokens.

Flash Liquidations

The new flash liquidation app allows users to earn POOL simply by running a transaction. The app uses liquidity from Uniswap to liquidate yield in PoolTogether V5, which means the user doesn’t need to hold any POOL in order to earn POOL.

Arbitrum Testnet

We deployed PoolTogether V5 to the Arbitrum Sepolia testnet.

Scope of Work

Goal

Now that PoolTogether V5 is deployed and the incentive system is live, our focus will be growth on Optimism and launching on the next chain.

  • Prize Compounding Interface
  • NFT Delegation
  • Marketing
  • Launch on Arbitrum
  • POOL Staking
  • Evaluate Ethereum Deployment

Deliverables

Prize Compounding Interface

We believe an easy way to increase growth is to help users convert their winnings into more prize assets. Users should be able to easily convert their POOL prizes back into vault tokens like pUSDC.

We are going to start by updating the win interface to include calls-to-action to turn POOL into more prize assets. We are working with integration partners to make this a one-click process of swapping and depositing.

If this feature proves to be successful, we can explore automating it in the future with smart contracts and prize hooks.

Delegate to NFTs

Delegation has been a popular way to share PoolTogether with others, but it can be challenging to use. We will build smart contracts that allow anyone to delegate chance to entire NFT collections. This means that the holders of those NFTs will win prizes!

We believe integrating NFTs into PoolTogether will open many partnership possibilities, and allow us to compose PoolTogether in really cool new ways. Imagine we delegate $100k to a new NFT project every week; sharing PoolTogether with so many more audiences.

Cabana Marketing

We will run a marketing campaign for Cabana by rewarding referrals through the interface.

Incentives are going to start soon, and we need to actively promote them in order to maximize awareness. Our team will reach out to influencers and offer them referral rewards; their followers win because they’re using a safe protocol and earning free money, and the influencer wins because they get referral rewards.

Launch on Arbitrum

We will deploy the core PoolTogether V5 protocol to Arbitrum. The team will deploy a prize pool, rewards system, and vault booster factory. All apps will be updated to include the new chain.

POOL Staking R&D

We will research ways that we can implement POOL staking and present our recommendation to the community.

Evaluate Next Chain

We will evaluate which chain to deploy to next and make our recommendation.

Support

We will continue to support the community and coordinate with the Council of teams. In particular:

  • Ensure apps are functioning and bugs are fixed
  • Release documentation, tutorials and videos and answer questions in the PoolTogether Discord.

Budget

Amount Denomination Details
$356,525 USD Denominated in DAI + USDC
29,276 POOL
5 Likes
2

@Brendan, thanks for the writeup!

With regard to marketing, can you clarify with how much funding, in what form, and with what controls will GS engage with influencers?

1 Like
3

Yes, happy to elaborate. We’ve sketched out a plan and here are some key points:

  • We’re going to allocate $25k USD in funding
  • Our target influencers will be supplied with a blurb they can use and a UTM-enabled referral link
  • Cabana will be updated so that it can track the links
  • We’ll write scripts that measure the users portion of the referred liquidity and reward them proportionally.

After the campaign is over we’ll be able to measure the liquidity that was brought in and how much it cost. These should be interesting metrics!

2 Likes
4

This is definitely what I am looking forward to the most.

This is a great response to anybody that might not be too fond of receiving POOL as the prize asset. We can have the best of both worlds. Though, I do hope that one day POOL will be seen as the superior prize asset and not something to be swapped out of.

2 Likes
5

This is exciting, so we have Optimism, Arbitrum and possibly Base next? I think we’ll definitely see Base as the next chain to deploy on!

2 Likes
6

Would this Arbitrum deployment happen at the end of these 3 months or could we expect it sooner?

7

Due to the Vault collateralization issue discovered recently we are going to:

  1. Add to the PTBR a top priority deliverable: a new Vault type that better fits with the Aave protocol (and likely others).
  2. Increase the PTBR budget to cover auditing costs.

We are prioritizing fixes on Optimism, so launching on Arbitrum won’t happen right away. We believe that a simple Vault can be built quickly, however, so we should be able to move fairly quickly.

1 Like