I’ve been with Pool Together for a wee while now (V1) and is something I am passionate about.
Now with the release of V4 I can only see even greater things happening to PT.
My idea is to send the uncollected prize money to charity rather than just being sent back to the pool of prizes
To me the money is already “lost”. There could be great benefits of turning uncollected winnings a charity wallet of some sort. This way at least more than just an individual can win from.
In the UK our lottery system if a valid claim is not received within 180 days of the draw date, the prize and any interest earned on it will go to benefit across the UK. Wouldn’t it be great for Pool Together to be able to fund public good projects globally from the uncollected winnings?!
Ok so i have no idea how to do this in practice but i do think it is worth a discussion
(users vote for DAO vetted charities monthly ect for manual distribution or via gitcoin ect.)
I like the idea, but don’t agree with sending all unclaimed rewards to charity.
The v4 system is designed with wallet caps and other mechanisms in place, so that unclaimed rewards get added to future pool prizes, benefiting small fish who are holding smaller deposits for longer durations (to get an increased TWAB) and a chance to claim future prizes from past unclaimed prizes. So something like this could seriously effect the proposed design and take away opportunity from small fish from winning prizes.
Of course, I am supportive of sending a well-thought out fixed % to charity (say 6 months down the line after v4 dynamics are fully played out)
This might be something endaoment could assist with. We could deposit the unclaimed prizes to the PoolTogether Fund and endaoment takes care of moving those assets into fiat and distribution to charities.
That is fair enough, i understand what you’re saying and that a percentage is probably better given the nature of PT.
At the moment it won’t have a significant amount as I can’t imagine there will be too many missed prizes but as months turn to years people forget/ lose access to addresses. If we can get something in place now it could be a trickle now but turning into a nice stream later.
Even 1% of the unclaimed prizes to charity is infinitely better than 0%
Actually the Rari usecase would be great to replicate with Pool holders voting monthly/ quarterly on charities to send the monies to.
The Rari Capital Foundation is the first true Protocol Community Fund and recently underwent its first decentralized grant recommendation. Governed by $RGT holders with deliberation taking place on Rari Capital’s governance forum, the Rari DAO voted to make its first donation to Khan Academy.
