Hello all Poolers,
I see that the “problem” with whales winning the prizes frequently concern a lot of people.
My thoughts for this problem would be to gather few liters of water in the ocean to fill a little pool, or at least a fish tank, to try to equilibrate the process, without hunting the whales.
As it was said before, they participate a lot in the ecosystem, prizes growth and attractivity of the protocol; it would be damaging to prevent big investors to enter.
A fair compromise, for me, would be to keep a percentage of the interest, let’s say 5%, to fill another prize pool, which is not correlated to the number of tickets, but only to the addresses who enter.
Let me explain it with a total prize, for a given pool, of 100 000$.
On this prize pool, we take 5000$. 95 000$ are awarded to the one, three or more winners depending of the prize pool strategy, as usual.
Now, lets run a lottery to win the 5000$, where each adress represents 1 entry, independently of the assets it holds.
With this scenario, we dont discourage the whales to participate, as their prize is lowered by 5% only. Splitting on several addresses is always a possibility, but the advantage to do it is consequently reduced.
And we add the possiblity to all acounts to win a reduced, but consequent price. The impact of 5000$ on an address who holds less than, let’s say, 1000$ is not the same than on a million dollars address.
Lets take the Dai pool for example :
At the moment i’m writing this, there’s 4,405 players in the pool, 4,405 addresses, for a total pooled of $30,533,389.
The biggest holder participate with 6,085,175.18 tickets, and 1 on 2.049 chances to win the prize.
There’s actually 525 adresses that hold more than 1000$ in the pool.
That means there’s 3880 players with a balance under 1000$ at the moment, 88% of the players.
These players represent less than 10% of the entry tickets.
I think this two-sided distributing system could be a great thing for all the players, as big winners would lose small, and small winners would win big.
It would also reward a little bit more the 88% of the community that participate in the protocol.
As only 1% of this planet population have a net worth of a million dollars, the little fishes are the one who inhabit the seas, proportionally speaking.
Talking about mass adoption, there will be more sardines than whales involved in the protocol.
This also could be an important factor to incite them to swim with us.
I took 5% arbitrarily for the demonstation, but evidently it can be adjusted at the will of the community.
I can’t wait to hear your thoughts about this idea! I love this community and this concept, and i’m glad to see so many people involved in the governance (despite the lack of delegated votes).
I will try to be here for the next community calls on Discord, if you want to discuss all of this!
Oh, and if we finally think to implement this feature, I propose “The Fish Tank” to name it.
Thanks for reading.