What about getting synthetic POOL to go Binance Smart Chain in order to grow the user base with low fees ?
I agree, I certainly believe this will be the best move forward had it been considered.
There’s some strong competition building up pretty quick.
Would be a lot of price discovery that happens if implemented on BSC.
low fees is absoukte necessity for this game as its major audience is small savers
absolutely was just about to deposit some USDC and the gas fee was $300!
i personally think all projects should remain on Ethereum. feel like bsc is a short term fad.
I agree with @relevantinvestor
Eth fees will come down when Eth 2.0 develops. High fees are a sign of high demand at the moment. Hopefully scalability comes sooner than later because I feel those gas fees too.
CZ controls all 21 nodes how is that going to bring security to the ecosystem?
Plus BSC is really not decentralized.
I feel this should be something looked at down the road and not imminently. Plus if PoolTogether is going to look at other blockchains to also launch on, there would be better candidates to look at first.
I think it’s a very good idea, it does not give any disadvantages, only advantages, it makes PoolTogether known to an even wider audience, especially with the explosion of the Binance Smart Chain, and then even if this blockchain remains in trend temporarily it will only bring good ? I am totally for it!
I already proposed a couple of new chains to expand here to keep the first mover advantage & to reduce fees + increase user base. Not sure BSC is the best or only to consider. BSC is definitely not the most DeFi spirit. Just one among other to consider. The more, the better. Most of them have already some staking / LP farming and other options to create prizes/rewards.
You have even Flare Network coming with DeFi for XRP… Cheap & Fast.
All of the possibilities above have cheaper network fees than ETH, are faster than ETH.
Also what about partnering with more mobile wallets such as ZenGo, MEW and more (already present in Argent Wallet, why not more ?)?
Indeed small bets are off with Ether fees of 150-300$ … This is a huge source of “small” money that people are willing to bet , that is not coming in …
Plus most of them have possible ways to reward. Just not all yet would be same satisfactory as the current model that Pooltogether use with Compound.
- FTM will come with all that exists on ETH (thanks Andre Cronje)
- Binance for BSC will probably continue to clone all the ecosystem (therefore, Pooltogether & all other projects) as it is used to do - probably better to enter before they clone it.
- Cryptocom for CRO is eager to integrate new projects on CRO mainnet and will be easily convinced to help any project to find a good way to work well with them (20% for APY for CRO staking for example on their new DeFI platform)
For others :
- Solana has for now some pools & farming, let’s wait and see what they can bring on
- SCRT has some earn & LP with gov tokens rewards, let’s wait and see what they can bring on
Not sure porting Pooltogether on other chains would be crazy hard + for sure there are ways to reward already .
My values lie in supporting Ethereum and decentralization. If pooltogether went to BSC I would no longer invest or participate in pooltogether. Luckily I think many in this community share those values so I don’t think I will have to worry about that.
I think other platforms with usdc circulation will be more appropriate instead of bsc! Like solana and layer2 matic!
I don’t think a centralized chain like BSC is a good settlement layer. Maybe if there was good interoperability between BSC and ETH it could be used as a sort of L2 layer.
But there are probably better L2 solutions out there.
Do not forget Polygon or ADA.
Xdai/poa network is also an option… polkadot?
Too many options, in long term eth2 !
id rather pool try to implement a system similar to pieDao ovens to reduce the fees on the main platform first, just a personal opinion.
Doesnt matter if BSC is centralized or decentralized. CZ doesn’t hold the protocol. At the end of the day, Pooltogether should and should be chasing more users.