TBR-Q1-2023 - PT Inc. Protocol Team

Governance PT Budget Requests
1

TBR-Q1-2023 - PT Inc Protocol Team

Voting is underway:

At the start of each quarter POOL voters will vote on Team Budget Requests. If you have formed a team and would like a budget, then complete a TBR before the start of the next quarter and share it with the Council.

Team Name Protocol Team
Quarter and Year Q1 2023
Payout Address 0x3927E0642C432A934a4EAA64C79bC8a1D8ac5Fb7
Total USD Value Requested $969.52 USD

Purpose

The protocol team is tasked with designing, developing, and managing the core PoolTogether prize protocol. This includes:

  • Designing and developing upgrades to the protocol
  • Working with partners to support protocol integrations
  • Implementing security best practices to ensure the protocol is safe
  • Automating operational transactions to ensure the protocol runs smoothly

Performance Goals and Metrics

The team’s goals for this quarter are a continuation of last quarter. We are going to:

  • Upgrade PoolTogether V4 to make it fully decentralized
  • Launch the PoolTogether Hyperstructure

Decentralizing V4

We are continuing to work on decentralizing the V4 protocol. This goal began in Q4 2022, and you can read more detail about it in the Protocol Team Q4 2022 TBR.

Milestones

  • Install VRF 2.0 on Polygon
  • Install VRF 2.0 on Avalanche
  • Trustless bridge abstraction (ERC5164)
  • Upgrade V4 Ethereum to use DPR (in testnet)
  • Upgrade V4 Polygon to use DPR (in testnet)
  • Upgrade V4 Optimism to use DPR (in testnet)
  • Upgrade V4 Avalanche to use DPR (in testnet)
  • Bridge draws to Optimism (in development)

Bonus

  • We’ve developed a dapp to update the Draw Percentage Rate

PoolTogether Hyperstructure

What was previously called “version 5”, or V5, we are now internally referring to as the PoolTogether Hyperstructure. This is because our goal for the next version is to release a new core that is immutable, but can be permissionlessly extended.

Significant progress has been made with the design of the hyperstructure. We have a draft whitepaper, but it still needs revisions, polish, and critique.

Todo:

  • finalize design
  • deploy testnet
  • audit
  • launch

Budget

Requested Amount

Token Amount
POOL 1440.95

Budget Breakdown

Team Members

Role Yearly USD Compensation Commitment Percentage Quarterly USDC Quarterly POOL Contributor Contributor Discord
Team Lead N/A 100% 0 (covered by PT Inc) 0 Brendan Asselstine Brendan :ocean::trophy:#1830
Protocol Engineer $211,166 100% 0 (covered by PT Inc) 26,813.98 Pierrick Turelier Pierrick#1350
Protocol Engineer $202,000 100% 0 (covered by PT Inc) (covered by Client Team) Dylan DesRosier dylandesrosier#6262

Team Expenses

The following are ballpark expenses for the quarter. Note that the security bounties are more of a reserve- if no exploits are reported it will rollover. Likewise for auditing, although our goal is to have the PT Hyperstructure on testnet and auditing this quarter.

Description Amount
Security Bounties $50,000
Auditing $250,000

Retrospective

Goals

  • We’ve made great progress in decentralizing V4, as noted above
  • We have a solid draft of the hyperstructure
  • We hired internally for the protocol engineer position by shifting Dylan over from the client team. He’ll continue to receive compensation through the Client team.

Budget Surplus

Description Amount Token
C4 outstanding account balance 126,200 USDC
Held assets 196,001 ScUSDC
Protocol Engineer open position 25,373.03 POOL

Appendix

Token Pricing

Token value in USD
POOL 0.6728370667