This proposal is expected to appear on Snapshot for voting on 2022-04-24T15:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.
TL;DR
- Proposal to whitelist PoolTogether Token (POOL).
- Proposed Trading Liquidity is 100K BNT .
- There are no apparent security concerns that would prohibit whitelist status.
Token Address: 0x0cec1a9154ff802e7934fc916ed7ca50bde6844e
Project Website: pooltogether.com
Liquidity
The Deepest $POOL pools are:
The $POOL/$ETH 0.3% Uniswap v2 pool with ~$720k liquidity
The $POOL/$ETH 0.3% Sushiswap pool with ~$61k liquidity
A trading liquidity limit of 100k BNT opens up space for at least $250k in single-sided staking capacity with BNT at $2.50. If the pool space is filled then the depth will be ~$500k. A proposal to increase the trading liquidity limit can be further proposed if/when that happens.
Token Security
POOL does not have an elastic supply or rebase mechanism. The token contract appears to implement the standard openzeppelin libraries.
The total token supply is capped at 10M tokens. The current circulating supply is 3,065,664
The top 10 holders of POOL are the following:
Rank1/2: Treasury
Rank3: Prize Pool
Rank4: Airdrop for early users
Rank5: investor
Rank6/9: Multisig
The rest are private wallets.
Project
PoolTogether is a decentralized and open source blockchain based prize savings account.
Replicating “prize savings accounts” all depositors are offered a chance to win prizes without needing to risk their deposited funds. This is possible because prizes are made up of the interest that accrues on all deposited funds.
The PoolTogether protocol has been live for over 2 years and distributed over $5 million in prizes to depositors. The luckiest winner so far deposited $74 and won over $40,000 . PoolTogether is one of the first and most widely used decentralized finance applications. It helps people save money by giving them the chance to win prizes.
Tokenomics
In February 2021, PoolTogether launched its native token called POOL. The token was created solely to govern the PoolTogether protocol, which makes it a governance token. Any changes or updates made to the protocol will be proposed and voted on by POOL token holders.
As we can see in the POOL token contract, the max supply is set to 10,000,000 POOL. According to this PoolTogether blog post, the POOL token is being distributed to the community and contributors based on the following scheme:
- 14% to all depositors up until January 14th, 2021 (17,072 unique addresses).
- 12.44% to early core team contributors (locked for one year).
- 7.52% to PoolTogether Inc investors (locked for one year).
- 5% to a 14-week distribution to PoolTogether depositors (so that new users can get POOL governance tokens).
- 2.5% to onboarding and education of new users.
- 1% to addresses that voted in the first two snapshot governance votes AND held a PoolTogether deposit at the time of voting.
The initial distribution accounts for 42.46% of the total supply. The remaining 57.54% is currently in the POOL Token Treasury, which will be used and distributed according to the token holders’ proposals.
Community and Communication
The PoolTogether team operates an official Twitter and medium account. The repositories for their code is hosted on Github. There is a Discord channel that is available to their community. The official documentation is hosted on Gitbook. There is also a discourse that’s available to their community members for governance.
Available Audits
Code4rena V4 Audit
OpenZeppelin V3 Audit
OpenZeppelin V2 Pods Audit
OpenZeppelin V2 PoolTogether Audit
See: Audits for more info
Market and Trading Data
- POOL price at the time of writing is $3.05
- All-time high: $53.98 (Feb 20, 2021)
- All-time low: $2.01 (Mar 04, 2022)
- Price 90 days ago: $4.06
- 3,065,664 tokens in circulation
- 10,000,000 maximum supply.
- The current market capitalization is $9,369,931
- Token Fully Diluted market Capitalization is around $30,564,115
- The POOL token is available on DEX (Sushiswap and Uniswap)
- The 30 day volume on uniswap ranges between ~2k-~85k.
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