PoolTogether Community Newsletter #37
New Prize Distribution, ERC-5164, Team Budget Requests, PoolyCon @ ETH Denver, Pocket Pooly Teaser & much more 🌊🏆
Hey Poolers
the last phase of 2023 isn’t short of milestones: PoolTogether has given away more than $3 million in prizes while breaking the mark of over 50,000 deposits.
And it’s not just the PoolTogether protocol, the community is as busy as ever. Projects like stETH.win, Web3 Savings Cards, Pocket Pooly and Friends of Pooly have turned PoolTogether into a full ecosystem over the last months. Let’s dive right in:
PoolTogether News 🗞
New Prize Distribution 🏆
A new prize distribution is live with bigger grand prizes!
The new distribution includes a $500 daily grand prize instead of the previous $200 prize. It also increases the odds for depositors by focusing the rest of the distribution on smaller prizes.
The daily prize value remains unchanged at $1524 per day ($10,668 per week).
Ethereum = $1524 Grand Prize
Optimism or Avalance = $500 Grand Prize and 512 $2 prizes
Polygon = $500 Grand Prize and 2048 $0.50 prizes
With this change you are now better able to choose your preferred experience. Ethereum gives you the thrill of one big grand prize, on Polygon you have higher odds but lower rewards and Optimism offers you the best of both worlds.
👉 Click here to compare the pools
ERC-5164 - hardening the core ⛓️
ERC-5164 is an Ethereum standard that Pierrick and Brendan have built to allow for cross-chain communication between EVM-based blockchains.
Many Ethereum protocols need to coordinate state changes across multiple EVM-based blockchains. These chains often have native or third-party bridges that allow Ethereum contracts to execute code. However, bridges have different APIs so bridge integrations are custom. Each one affords different properties; with varying degrees of security, speed, and control. Defining a simple, common specification will increase code re-use and allows to use common bridge implementations.
Implementations of this specification will allow contracts on one chain to call contracts on another.
In easier words, you could say cross-chain communication hardens the system and security of PoolTogether and potentially many other Ethereum-based protocols.
PoolTogether, as an example, uses random numbers from the Chainlink RNG on Ethereum to compute the winners. Protocol governance approves of an oracle that is pushing information across to all other chains.
This new version eliminates the need for governance by allowing to use of the RNG that is available on each chain and allows cross-chain communication can happen smoothly. For chains where there is no native RNG the technology allows to bridge information fully automatically.
The proposal for ERC-5164 is currently in the review stage and being audited in a contest by Code4rena.
👉 Check out the Ethereum Improvement Proposal
… or learn more in Brendan’s tweet 👇
Weekly Winner Report 🏆
Last week has been good to poolers. 1236 winners and a very lucky fish that took home one of the grand prizes!
👉 You can collect our weekly winner reports on Lens! Just follow PoolTogether.lens to not miss any.
PoolTogether Governance Overview 🏛
The first quarter since the adoption of the Team Budget Requests (TBRs) is coming to an end soon.
The council proposed a schedule for the Q1 2023 Team Budget Requests:
Dec 1 - December 11: Compose TBRs and council review
December 12: Post RFCs on the forum for 1 week of community feedback
December 19: Votes go live
This process is open to team renewals and new teams. New team proposals can be brought forward at our next council meeting on December 6th. If you have the desire to contribute to the protocol with active funding, this is your time!
You can learn more about the TBRs here. A template for TBRs can be found by creating a new topic in this category.
Other topics on PoolTogether governance:
Are you interested in a .pool domain? 👉 Check out Noxe’s [RFC] TLD domain using punk.domains
Have you signed the PoolTogether Protocol Constitution yet? ✍️
Discuss all this and more on the governance forum: gov.pooltogether.com
Community Vibes ✨
PoolTogether at ETH Denver 🫂
Are you planning to attend ETH Denver? You should let us know!
ETH Denver is the place where it all began for PoolTogether. That’s why we are planning to host a Pooly Con (Feb 28th to March 1st) as a place for all Poolers to meet, build, and have fun together before ETH Denver kicks off!
👉 Please fill out this form if you consider coming or need any help.
PoolTogether meets Philippine Blockchain week 🇵🇭
A special thank you goes out to Mon!
Mon has attended Philippine Blockchain week to represent the PoolTogether community. This super pooler singlehandedly organized event coordination, merch and info material such as flyers or posters. He shared some of his learnings and a few pictures on Twitter:
stETH.win Community Pool 🏊♀️
You might have heard of stETH.win already. stETH.win is a community pool brought to us by our senior poolers underthesea and drcpu. It uses Lido's stETH as a deposit asset.
The pool has weekly prizes generated from capturing the daily stETH rebase. Every Thursday around 18:45 UTC, the yield is divided amongst the winners:
50% goes to a preselected good cause
Two random winners win 25% each
A specialty of the pool is that it’s leveraging the Witnet Randomness Oracle to have immutable, unpredictable random numbers for the weekly drawings.
Thanks go to the Witnet Foundation, which has provided a grant to cover the operating costs for the stETH pool. Furthermore, it has deposited 12 stETH to help grow the pool!
What’s Witnet?
The Witnet Foundation helps develop and promote the Witnet protocol, a true web3 decentralized oracle. Witnet is running on its own layer one blockchain, and is bound by cryptoeconomic incentive rather than trust. It is powered by the WIT coin, which is native to the network.
👉 Deposit your staked ETH and win by supporting a good cause
Coordinape: new uGMI options & bi-weekly epochs 🦍
Coordinape is a tool for decentralized compensation. It allows contributors of the PoolTogether protocol to reward another where value is created.
Everyone who contributes to the PoolTogether protocol in any form can join the PoolTogether Coordinape circle. To join our circle on Coordinape you can either…
be nominated by an existing circle member
or nominate yourself by sharing some of your contributions to the protocol in #coordinape on Discord.
Contributors are compensated in the form of PoolTogether KPI Options (uGMI tokens). The uGMI tokens are redeemable for POOL every quarter. The exchange rate depends on the TVL of the PoolTogether protocol on the expiry date of the uGMI options.
If you’re holding any, can now redeem your uGMI from last quarter here. If you want to learn more about Coordinape and uGMI options at PoolTogether, check out this link.
With Epoch 37 we are moving from monthly to bi-weekly epochs. Make sure to fill your epoch statements and distribute your GIVE until December 16th.
👉 Reach out in #coordinape if you have any questions or need help
Pocket Pooly 🦜
Watch out for your personal Pocket Pooly landing on Optimism soon(tm)!
Pocket Pooly is a gamified interface for the PoolTogether protocol. It is designed to help you save money and meet your personal goals through the support of your digital pocket pooly.
The project is open source and in development by Midpoint and noiamgodzilla. Here is a little sneaky leak of what you can expect:
No Loss November Recap 🗓️
No Loss November was a blast! During November, the PoolTogether community and our fren poolmanager.eth leveraged the power of PoolTogether’s delegation feature. In November the community gave out nine additional delegation boosts:
4x $25,000 to Savers
1x $20,000 to boost a father-daughter-relationship
1x $15,000 to the first person that flexed their web3 savings card
2x $15,000 to Lens frens that helped us promote PoolTogether on Lens
1x $50,000 as a Thanksgiving thank you to POOL hodlers
PoolTogether is about creating winners, and last month we certainly scaled up that number in a qualitative way! November being over doesn’t mean we’d stop…
PoolTogether Advent Calendar 🎅
The December on PoolTogether Discord is extra merry!
From December 1st until 24th, the PoolTogether Advent Calendar brings you one 24-hour-long giveaway per day. That means 24 doors, 24 giveaways, and [redacted] winners. So far, the calendar revealed PoolTogether towels and a few $25,000 delegation boosts. Can you guess what’s behind the next doors?
To be eligible for the Advent Calendar, all of that had to be the case before December 1st:
▸ hold at least 1 POOL on any chain
▸ have a deposit of >$30 in PoolTogether on any chain
▸ hold at least 1 Community Call & Swim Meet POAP
▸ be a member of the PoolTogether Discord server
👉 Pick up the Advent Calendar Access role here or check #advent-calendar if you already got it.
Please don’t be disappointed if you’re not able to participate this time. The advent calendar aims to reward the community of people that have been around during the year and identify as Poolers by heart. Stick around; the community never stops being rewarding.
VibeTogether - Community Twitter Spaces ✨
The community gathers for Twitter spaces every second Thursday. Last week Tim, Andy & BRONDER got together with dimple from PWN. Even Rliriano shows up as a special guest.
Listen to the recording here:
PoolTogether Community Podcast feat Smoothie 🧃
In this episode our host Tim chats with Matt from Smoothie about how they plan to create a discovery and reward system for web3. They talk about rewarding normies, and how Smoothie is planning to change the way people discover the latest web3 Dapps and learn about the space in the process.
👉 Listen on Substack⏐Apple Podcast⏐Spotify
Live Recording every Wednesday!
The podcast is recorded live on Discord every Wednesday. Yes - you can join and ask your question in the chat. This week’s guest is Saddle!
👉 Set up a reminder on Discord
Tweets from the pool🦩
Stay wavy 🌊🏆
Thanks for reading. I'll see you next time, Poolers! Before you leave, here are some reminders:
Join us every Friday for the next Community Call on Discord
Pool your staked ETH on stETH.win
Mint a free personal Web3 Savings Card
Earn POOL/wETH Liquidity Mining Rewards on Arrakis.finance
Save some USDC, earn OP rewards & win prizes with PoolTogether
