AGAVE pool – PoolTogether – Push for it to be the FIRST pool to provide rewards

[project_uwb]

Alright 1Hivers, you must be tired of me posting about opportunities on PoolTogether(PT) but I think 1Hive and PT have a lot of synergy and will benefit each other immensely in the future. So in continuation to my previous post https://forum.1hive.org/t/pooltogether-xdai-incentivising-initial-pools-for-marketing-and-buzz/3598, I have had discussions with various community members during the café calls and it seems to me that to implement the linked proposal will also require a dev and dev time.

As we wait for AGAVE to actually launch and provide opportunity to extract yield from various assets, I have realised that with the launch of the AGAVE staking in the security module https://app.agave.finance/#/stake, we now have a stable and low risk yield source although not a very high APY. So if we have a pool started for AGAVE, (this will mostly suit the smol fish) the pooled AGAVE could then be staked into the security module and the yield which I will assume will probably go down to a 12% APY, could then be used to provide the reward to one or more lucky picks from the poolers.

As an example if we manage to get 10 AGAVE pooled by all the smol fish in the pool, it could mean we could have about 0.1 AGAVE as reward that could be given away as a whole or in 2 or 3 parts every month. If the pool continues to grow and reaches 100 AGAVE, that could be 1 AGAVE per month to someone lucky in the pool! Also the AGAVE DAO could look into incentivising the pool indirectly by providing some AGAVE from the common pool in the PT pool and stay out of the lottery so that the yield from the provided AGAVE could boost the reward for the poolers.

These are some random thoughts that may not be coherent at this stage but could be a useful start point to having PT and AGAVE collaborate and provide an opportunity to distribute AGAVE further.

@Monstrosity @solarmkd @CurlyBracketEffect @luigy would be nice to know what you think of the above and how it may impact the security module of AGAVE. Unsure if this presents an attack vector but would be good to know. Any other feedback is good. This could be one of the first pools that actually provides a reward in AGAVE to PoolTogether!

[Monstrosity]

I don’t think we have dev resources to work on having pool together interact with staking, maybe some other time if we were to use 1hive/agave devs.

In regards to just straight funding a ‘first round’.

• How long of a duration?
• how much is your proposal?
• what is your expected engagement?

[project_uwb]

Hey montro, i made this post after I felt I did not receive enough traction and support on my previous proposal which was as you say a ‘straight up’ funding round with lesser technical involvement. All answers to your questions are within the linked proposal. If that is something that the 1Hive DAO and seeds feel as an interesting idea, I can pursue that instead. Attached link here FYI https://forum.1hive.org/t/pooltogether-xdai-incentivising-initial-pools-for-marketing-and-buzz/3598

I have been going around both 1Hive and PoolTogether but I guess at this stage it looks like both DAOs do not have the dev resources required to pull this off. I have also been scouring other Discord servers within xDAI and have not found a dev that is interested yet. I am yet find a server that has new devs exclusively looking to work on simple projects. Will stay on the hunt and report back if i succeed.

[Monstrosity]

Screenshot from your link

I don’t care for these lottery platforms but I would support it considering its 10 weeks that seems reasonable.

Request is 10 Hny & 10 Agve for 10 weeks, 2 pools. If you can get a 10 hny proposal to pass for 1 hive is support agave matching it.

That said, we don’t have much of a budget for marketing right now. If you recall we passed a proposal for 75 AGVE which included marketing, dev work for staking, nfts, drip contract, and various support for frontend leaving us with about 25 agve for marketing 10 agve would consume 40% of the marketing budget so we would need to request more for this.

[project_uwb]

@Monstrosity

I don’t care for these lottery platforms but I would support it considering its 10 weeks that seems reasonable.

Yea, I know what you mean, but i guess for some smol fish this is a low risk, low probability but high reward lottery protocol and its no loss (i guess there is always the SC risk of the platform itself). Its just that Pool Together has been pretty cool at attracting revenue and even smol fish when the main net fee were in the cents. But now its just a whale game! I thought the same applies here in xDAI… as long as the fee are reasonably smol, it just provides those that want to give away a real return in favour of a chance to win a bigger reward but with a smol probability.

@Monstrosity

Request is 10 Hny & 10 Agve for 10 weeks, 2 pools. If you can get a 10 hny proposal to pass for 1 hive is support agave matching it.

Yea, I was not sure if this was too high. I think this could be changed to 5 HNY and 5 AGAVE, or lower. I thought it just was a kick starter to get liquidity to come to xDAI chasing the reward. But I have to admit with a low reward it may not really attract much in terms of liquidity. Although the one this it does do (if the whales just dont take over the pool) is give smol fish the option of earning more HNY or AGAVE and contributes to getting the tokens out to more hands and get more decentralised.

I am now not actually sure how to move forward as I have never actually put a proposal up on HoneyPot. Also I do not have the technical ability to do any dev work that is needed to set these up as I clearly mentioned in my proposal. It was just my own enthusiasm that I thought this may be a good opportunity to market AGAVE as it gets associated with something like Pool Together and provides more eyes and exposure to xDAI, 1Hive and AGAVE!