PoolTogether is an open source and decentralized protocol for no-loss prize games
PoolTogether recently set up a pool for Fei Protocol. The model discussed with the community looks as follows:
Fei would incentivize the pool with ~$100k of TRIBE over 30 days. That’s about 5500 TRIBE/day. Users will see this in the form of APR. ~$100k for 30 days is about 10% APR for a $10m pool. Once the APR incentives run out, PoolTogether will add POOL token liquidity mining.
This proposal would use TRIBE from the FEI-TRIBE staking rewards. 100k TRIBE would equal 0.05% of the total staking rewards. This initial incentive is important as it attracts users to the pool. Through that, we create a base that allows the pool to grow by itself.
Given the exposure and utility TRIBE will gain from this partnership, the proposal will be worth it for both of our communities.
Please feel free to leave any feedback regarding this proposal before it is posted on Snapshot. In addition to that questions and concerns can also be addressed here, I will also ask PoolTogether community members to help with questions.
Hi a PoolTogether Community member here,
I’ve followed Fei since February or March, the Genesis post on Medium, so I’m pretty stoked to see a potential partnership spring up like this.
If there’s any questions from the PoolTogether side of things, I’d be happy to answer them or pull in someone else from the community if I don’t know the answer.
from the PoolTogether community! Wanted to add some feedback.
Overall, I think this is a good idea! I’m making an assumption that driving usage and holders of Fei is a priority. Assuming that’s the case, a PoolTogether prize pool is one of the best ways to do that. Generally you end up with far more unique addresses with less incentives vs. other options. Additionally, it’s worth noting that you can’t farm PoolTogether deposits recursively, again, this typically means more organic usage.
One concern I have is that right now, the yield on Fei on Fuse is quite low (only 0.77%) that means the prizes will be small. Fei Protocol may want to consider allocating some TRIBE directly to the prize to keep the prize in a reasonable range ($3,000 - $6,000 weekly is normal for UNI, COMP, SUSHI, etc. tokens). Or if this APR is abnormally low and we expect it to go back up – we don’t need to worry about it.
Great supporter of the idea but I think it’s highly important to find a source of yield besides Tribe/Pool incentives, of course this is already amazing to put Fei on the map and give a use case but we need “natural” prizes that make sense.
Hey all! Would love to see a Tribe / Pool Together collab here. We’ve also discussed with the Idle community potentially triple stacking the rewards if we use Idle as a yield source. Is this feasible?
Also would be cool to see FEI and the FEI tickets added to the PoolTogether Fuse pool. We could add liquidity as a DAO to both so users can express market views on the yield direction via PoolTogether + Fuse
a PoolTogether Community member here,