I agree; the token narrative is incredibly important. The narrative is what people buy into. In my POOL token post from a month or two ago I mentioned Leighton’s narrative of the perpetual growth machine. I still believe that narrative has potential.
The perpetual growth machine is the idea that some of the interest always feeds back into the pool. Therefore, the EV on the pool will always be greater than depositing individually.
However, realistically the interest portion is so small that we’d need some kind of leverage to speed it up. I like the idea of borrowing against the POOL in the treasury to increase yield. Perhaps @BraveNewDeFi has some ideas there that mitigate risk.
Long term, on a rational level, I think @Loitering_Gorilla has outlined some very concrete points (above). It feels like a natural idea- that POOL token holders get a cut. Then they’re banking on long term TVL growth.
The holy grail. This is what we should be shooting for.
I feel like we have all identified important elements:
- POOL token holders get to play
- POOL holders take a cut
- Increase TVL without subsidy
- Perpetual growth machine
Together these hint at the shape of something. I need to think about this.