Poolz Finance AMA
On Tuesday the 15th of December, the Foundry community had an AMA with Poolz co-founders Guy Oren, Stan Golding, and Liam Cohen.
Poolz Finance — A Summary
“Connecting innovators with investors, through decentralized swapping and interactive UI for easily-manageable pre-listing liquidity auctions.”
Poolz is a fully-decentralized, swapping protocol that enables startups and project owners to auction their tokens for bootstrapping liquidity. As the blockchain-cryptocurrency community moves closer to absolute decentralization, Poolz empowers innovators in their pre-listing phase, bringing them closer to early-stage investors.
Investors, on the other hand, can leverage the Poolz platform to discover promising and disruptive projects with high potential value. In this sense, the platform offers a secured and intuitive way for investors to gain substantial, long-term returns from their assets.
- Customizable pool options ensuring relevance for wide-ranging blockchain-based projects and use cases, alongside multi-chain integrations and support. Poolz is built with the long-term aim of enabling a unified interface with cross-chain interactions and other functionalities.
- A fully decentralized, non-custodial, and trustless ecosystem with robust, Solidity-based smart contracts.
- An interactive, intuitive, and responsive UI, coded in React for a smooth and seamless user experience. Moreover, Poolz integrates Web3 libraries to access continuous feedback from on-chain data, thus implementing necessary UI upgrades for optimum consistency.
- Unit testing of smart contracts and network (developed in Truffle) code using Ganache, ensuring optimal bug-resistance and security.
- Continual and multi-level incentivization mechanisms, facilitating recurrent gains for investors, liquidity providers, and yield farmers.
- Due to Poolz’s optimized network and contract architecture, innovators require substantially lesser gas fee for registering their pools, as compared to existing market standards (see: Technical Considerations).
- Liquidity Bootstrapping: Innovators can leverage the Poolz platform to launch token auctions, thus generating liquidity for their DEX listing. Although the platform is the most relevant for early-stage projects, it can be similarly used by any blockchain-based project.
- OTC Trading: Strengthening widespread DeFi adoption, the Poolz platform can also be used as a marketplace for wide-ranging crypto OTC trading.
- Yield Generation: Investors can participate in auctions hosted on the Poolz platform, thus generating passive yield from their ETH and DAI holdings (during MVP phase) by providing liquidity to auctioning projects.
- Non-Fungible Token (NFT) Bid Auction: NFT-based projects can launch dynamic ratio auctions on the Poolz platform, thus diversifying the options for liquidity providers.
Documentation Portal: https://docs.poolz.finance/
Poolz — Guy Oren — Co-founder and CEO
Poolz — Stan Goldin — Co-founder and CTO
Poolz — Liam Cohen — Co-founder and CMO
Foundry — Limmy — Foundry community representative
Please note that the following summary has been edited for clarity.
Welcome everyone to the Foundry!
We are joined today by Poolz co-founders Guy Oren, Stan Golding, and Liam Cohen.
On behalf of the DuckDAO and Ferrum communities, I’d like to welcome you both to the Foundry for this AMA session.
We are three founders that have an affinity for blockchain technology with vast experience in computer software.
I’m Guy Oren, the founder and CEO of Poolz, from Israel. Over the past 8 years, I have founded 3 startups. My focus is on developing solutions for the Blockchain & Fintech Industry using my knowledge and experience of working in a hyper-growth environment. In my previous role, I managed over 40 employees, raised money from private equity (angels and VC), and operated the product across 60 countries. I have experience in managing operations, P&L management, and working in a fast-moving environment.
Stan Goldin, CTO.
Stan, our CTO, is an experienced founder and developer who has vast experience working in the computer software industry. Skilled in management with strong business development skills, Stan aims to make technology easy and accessible for all. His love for innovative technology brought him into the blockchain space in 2016. He has previously co-founded Cryptonex — Algo Trade.
His main focus is on Poolz Defi and helping us build the first cross-chain decentralized environment architecture designed uniquely for DAO ecosystems.
Liam Cohen, CMO.
Liam has been a crypto investor for the last 6 years. In that time, he has built valuable connections and gained high-level knowledge in blockchain and cryptocurrency. In his last role, Liam managed the community engagement at Endor Protocol (EDR), an MIT-based startup that raised over $50 million from investors such as Google and others.
Can you also tell us some more about the rest of the team and advisors that can’t join us today? (Except Ian — we’ve already gotten our fill of Ian 😜 )
I’m sure about that (:
In general, the Poolz core team includes 10 team members who are managing several departments including development, marketing, biz dev, product, and design.
Moreover, our advisory board includes:
Or Dadosh — A senior blockchain engineer of social investment giant, eToro. He has also served as the former blockchain lead developer at the decentralized finance platform Bancor (BNT). Currently, he is an advisor to a number of startups and a consultant at the hybrid blockchain company, Orbs.
Kha Nguyen — A Lead Blockchain consultant, At Tomochain. Kha is an experienced blockchain consultant with over a decade of experience in the IT industry. Kha’s more than 10 years’ experience, he has managed multiple senior-level roles in the largest technology companies.
And in case you forgot :)
Ian Friend — A former blockchain lawyer, is the Co-Founder of Ferrum Network and has been full time in the industry since the bear market of 2018, having built several successful businesses including a staking-as-a-service business with 45+ clients and $15mil TV. He brings to Poolz an expertise in investor relations, community growth, and generating long term value for token holders.
Quite the Lineup! The first question (Or at least a variation of it) was asked quite a bit leading up to this AMA:
The obvious comparison here is Polkastarter. How does Poolz compare with this project, and can you give an example of something that Poolz can do which Polkastarter cannot?
As for Polkastarter, their platform was launched only recently. From what can be seen, they have done a nice job, but the system is not decentralized even though they’re marketing themselves as a decentralized platform. They manage the pools on their platform manually which brings in too much central control. I hope they will change it later on.
On the contrary, our pools and almost all parts of the platform are automated and actually decentralized. If you pay attention, Polkastarter competes with only a part of the services. The services Poolz provides are not limited to just cross-chain liquidity auctions or swaps. We have developed Poolz as a unique system established on smart contracts in an open-source environment. Our vision spans far beyond just providing a platform for cross-chain liquidity auctions.
Poolz is developing a one-stop solution for project owners so they can rely on a single platform that can cater to their needs for the very long-term. We have an array of solutions, and cross-chain liquidity auctions to raise funds just to name only one use-case of Poolz which blockchain projects will reap huge benefits from. Through Poolz’s solutions, we aim to help projects from their initial funding phase through to their later stages. Token issuance, liquidity management, staking-as-a-service, cross-chain swaps, synthetic token creation, multi-chain token sales, are some of the use-cases we plan to bring on Poolz.
I see, so true decentralization and automation just as a starting point in terms of differentiators. I believe we have some questions that will touch on some of the perceived risks for that a bit later on in the AMA, but that sounds very promising!
Our next question is a pretty technical combo question:
What are the differences between interoperable multi-chain architecture and Cross-Chain Integration? Without using an intermediary party in the process, how can Cross-chain swaps between public and private networks?
How can users launch and participate in liquidity auctions across multiple blockchains with Poolz?
In non-technical words, let’s say each chain is a city, and our Poolz contract is a shop. A multi-chain architecture means we have the same shop in more than one city. The cross-chain integration, on the other hand, is the road from one shop to the other that can be used by all. In the same example, a private network is a road with a gate, someone needs to open the gate for you…
And for the last part of the question, there are a lot of use cases here. For example, you make a token in chain A, and then sell some of them in the same chain with Poolz, then transfer the tokens to chain B using Poolz cross-chain infrastructure, and make another Pool in chain B. Now you have liquidity in both and the users can transfer your tokens from chain A to chain B.
Something like this:
This is one of the best analogies I’ve ever read — makes it pretty clear even for those of us who aren’t super technical.
You sure Liam should be the CMO? haha
Lol. One Team. 😊
All of us have some marketing abilities :)
Haha I kid obviously :P
How do you intend to bridge the value of a token from a blockchain to another blockchain? For example $1 usdt (ERC20) = $1 usdt (Tomochain) = $1 usdt (dot)
It will surprise you, but we don’t control the value, unlike the stable coin project that needs to make sure the value is right. The value will be (almost) the same because of the power of the free market. Let’s say we got 1 TestToken worth $1 in chain A and we transfer it to chain B. Right now, in chain B it seems like there is no value for the token, but anyone who gets the TestToken from you can transfer it back to Chain A where its value is 1$…
Now, let’s address “almost the same’’ price concern. There will be some fees for using the transfer (both the network fees and payment for Poolz). Let’s say it is 1% (just for ease of calculations). So, when you take 100 TestToken from chain A and move them to chain B, you get 99 TestToken. Now you can sell them there, on chain B. You will not sell them higher than 1%, because anyone can transfer them from chain A to get that price. And you don’t want to sell them lower because you can transfer them back and pay only 1%. So, basically, the price on chain B will be the price of chain A + the fee.
Some more detail:
If no one takes the “arbitrage” money, we will take it :)
I’m sure that someone is watching this AMA and frantically coding up a bot that will do just that lol
Poolz “provides direct cash flow options for promising projects”. What do you actually call a “promising project”? What are the metrics/data used to determine if a project is valuable or not?
That’s a great question,
Of course one of our most important challenges is to bring good and strong companies that will succeed. Also at the marketing level, this plays an important role and will help increase the use of our product.
So, first of all, our team has a lot of experience in all aspects — technical, managerial and marketing. This allows us to examine the projects and perform professional due diligence.
But even more interesting is that we will collaborate with various incubators that will provide us with reliable and promising projects that have received grants or support from them! This will save time for us and create trust. We see this as a super relevant use case!
For example, we are in discussion with Tomochain. They will forward high-potential projects to Poolz that will develop on TRC and get the grant program from them.
Another example is the collaboration between Poolz & The Foundry. This will allow Poolz to conduct sales of projects under incubation at The Foundry. This will ensure that we have some of the best crypto projects on the Poolz platform.
Currently, most investors only care about immediate profits and ignore the long-term benefits. Can you give them some advice why they should buy and hold this token/coin in the long term?
As far as we know, a vast majority of crypto investors are looking for long-term investments in projects that are the right fit for them and have a strong strategy. After all, long-term investments are safer and have a huge potential benefit to offer. At Poolz, we are building for the long term. We believe that the market segment we are targeting is only in its infancy. The timing of Poolz in respect of the DeFi boom is similar to that of the crypto centralized exchanges that launched during the crypto boom around 2017. And we can today see how the best of them have made a huge impact on the market.
As the market grows, more new companies will rise and enter the crypto space. And in the end, all of these companies will have to raise money or additional services that we provide to companies before entering the market. As long as a variety of new companies joins the sector, Poolz’s vision will continue to exist.
So, from the perspective of long term investors, the real question they should ask themselves before investing is, “what will be the demand for a new blockchain company in X years from now?” And if the answer to that question shows that the company has the potential to grow in the long term, they should consider it a good investment. As for Poolz, our early target market has already proven our growth potential and validated the demand for our platform.
Additionally, I can say that the fact that our token release schedule is spread across 10 years is a testament to our belief that our project will succeed in the long term. We hold a huge stake in our company, and we are determined to make Poolz the best there can be both for investors as well as blockchain and crypto projects.
“As the market grows, more new companies will rise and enter the crypto space. “ This is absolutely true! Those of us who have been around since the ICO craze of 2017 know that this space truly is full of innovation and there will always be new ideas springing up that will need to make use of a platform such as Poolz. Thanks Liam — a very strong answer!
We all know that there are many problems with the Ethereum network: scalability issues, high gas costs, slow speeds, etc.
Why did you choose to build a token on the ERC-20 blockchain ecosystem? Why not build it on a more scalable blockchain?
Actually, the reason we preferred Ethereum network to launch our platforms is clear: it has the widest adoption and security (hashing power). So, in terms of gaining popularity, traction, and users, there’s a low barrier for us compared to other blockchain networks at the moment.
However, when our system is ready, it will be possible to “move” the tokens to any other network we support. After we finish integrating our bridge and make our system functional across many blockchains, future projects will not have to worry about what blockchain network they should issue their tokens on.
Our development team seamlessly integrated the project with Ethereum. And, we have the flexibility to integrate with other different blockchain networks, including Tomochain, Moonbeam, and more blockchains we will announce soon.
I imagine I can’t get you to “leak” some more examples of the next blockchain you plan to support here as an exclusive? 😜
I wish.. Liam won’t allow me to say 😜
Fair enough (Sorry guys — I tried)
Why ERC-721 vs. ERC-1155 ?
The ERC-721 standard is great for tokenizing and creating unique assets that can be transferred from one wallet to another. However, a collection of ERC-721 tokens can prove slow and inefficient, for instance, when transferring multiple armor pieces in a game for a particular character.
This is where ERC-1155 comes in, and can offer unique digital NFTs, that allow batch transfers of multiple tokens at once, and at a much faster speed than an ERC-721. ERC-1155 tokens are often described as a “next-generation multi-token standard”, and the focus here is truly a “multi-token” approach. ERC-1155 is developed by Enjin, and supports both non-fungible tokens as well as fungible tokens.
For example, my $BONDLY NFTs show up under the “Collectibles” tab in Metamask. (Trust Wallet has this feature, too). I’ve heard non ERC1155 NFTs have issues with some wallets as well — have you considered the above when choosing which NFT standard to adopt?
In short: first transfer 1 then transfer N.
In our case, the NFT auctions will sell one token per auction during the MVP version. After this section is live and tested, we can add support for ERC-1155 standard NFTs.
This is how it works:
That makes sense — it’s not a case of one standard or the other, it’s a case of which one is being supported initially.
During the MVP stage of the NFT auctions, the bid, rebid system is planned for one token each time, but it’s simple to transfer it to N tokens.
Damn Stan, you’re a BPM master haha
It is mentioned that React Native along with an intuitive information architecture is used to build a responsive UI and UX. Can you please expand on the information architecture design, and how was this design conceptualized, was there any user research?
I’m a bit of a gamer …
As a method of work, we are allocating time for research at the beginning of any aspect. For example, let me share with you some of our findings on this subject. (React Native vs the alternative)
Most frameworks (Angular\Vue) would provide the same features and allow scalability. Choosing React allowed us to enjoy both. Our team’s extensive experience as well as the largest developer community, 3rd party components, etc.
In addition, using ReactJs could save us development time in the future in case we decide to switch to native mobile application (using react mobile).
Another critical issue for React is easier integration with Web3.
Feel free to ask more about this issue 😁
Our github is open, as all DeFi projects need to be
This next question touches on the decentralization point mentioned near the start.
Given that the project is highly dependent on the pools created on the platform, how do you ensure that good projects do their listing on your platform, especially in the beginning?
How will you deal with fraudulent projects that intend to ghost/rug their investors?
When we speak of decentralization and open-source platforms, the most important issue is to keep this structure, but on the other hand be aware of the possibility of “ghost projects”. The win-win solution for that is to create a “balance” between both issues.
There are a number of tactics we can use in our system to help investors make the right decisions. For example, we are currently examining an option to collaborate with a number of companies in the crypto space that provide smart contract audit solutions. These companies will help us give a “stamp” to verify tokens our auditors find safe for investment. That way, we keep the project decentralized and open source and still ensure the safety of our investor’s money.
Another mechanism that is for us to focus on partnering with third-party companies from verticals such as crypto grant programs, Layer 2 companies, accelerators, VCs, Incubators, and basically every legit firm in the space that invests money in crypto projects. These companies will bring the projects they’re working with on Poolz for their pre-sale rounds.
We already got an agreement with some accelerators who will forward the company to Poolz in order to manage the pre-sale. And these companies (pools) will be marked in one color so users will be able to differentiate and focus on the same projects.
As you can imagine, there are more tactics that will be implemented with Poolz, and we will share it as we work on them. But what I just shared was the bigger picture.
Not to mention your stacked advisory team and the army of Ducks that all have strong opinions haha.
(OH! Not to forget the Ferrum community here as well sorry!)
You are right. On top of that we have the Ducks army 💪
Reading through your litepaper it’s mentioned that there will be two types of pools on the platform — Direct Sale Pools (DSP) — without any lock-up period and investors received swapped tokens immediately — and Time-Locked Pools (TLP) — which have a predefined lock-in period and investors receive their swapped tokens only after the completion of this duration.
Can you please tell us what are the main pros/cons of choosing either option?
The DSP and TLP is more about a project’s choice of how they want to disburse the token than about having any specific pros and cons. Projects will have full discretion to choose either of the two.
In case a project wants only those investors who are ready to invest in them for the longer term, they can choose TLP. Doing so will ensure that a part of the project’s tokenis bought for the long term and may help in building more trust around the project,
Token sale with vesting period.
By the way, regarding the competitors that you mention before, we got the TLP options, not only DPS. to make TLP work as DeFi, you need a very important part. (you will be ann soon…)
DSP, on the other hand, will allow projects to distribute their tokens instantly after the sale and may attract more investors.
The white paper mentions liquidity pool auctions, is there an opportunity to bid for these liquidities or will there just be a fixed swapping ratio depending on whether you hold POZ tokens or not?
As a first step, we are planning to make only a fixed price swapping ratio since the goal of the platform is to act as a decentralized launchpad platform for unlisted tokens.
At a later stage, if there will be a need from the users to get bidding pools for tokens, we can implement it. We believe that this will be first implemented on the NFT Poolz section as a reverse bid auction. There are really endless options to “play” with the rules of the pools. We will always try to select the options that will be used most by our users
Community input is important — good to know that there is flexibility in the development roadmap :)
We always read about the “2-layer protocol” but Poolz has a “layer-3” swapping protocol. Can you please explain how a 3-layer protocol works on your platform, and what the difference is between this and a 2-layer protocol?
Layer 3 is the place where general applications developed on the second Layer could be used for developing specific solutions. Using smart contract or atomic swaps or lightning networks for APIs, developers can integrate and build applications that serve a narrow and specific function. Decentralized Finance (DeFi) is one of the applications built on the third layer.
Layer-2, on the other hand, is an overlaying network that lies on top of the underlying blockchain. Layer 2 refers to a secondary framework or protocol that is built on top of an existing blockchain system.
I understand that the advantage of Poolz over other DeFi protocols is the liquidity in the previous phase, right? That’s cool, but why not start from the previous phase with the complete DAO System (Q4 2021) like the other protocols? Wouldn’t that give them a greater advantage to achieve adoption over the competition?
First of all, it’s not just the liquidity, it is the user base — both project owner and investors. Yes, we can spend 6 months (give or take) to make all our technical dreams come to life, but then we are still in the same situation. We need a user base. On the Poolz platform, we can grow our user base effectively and provide them our MVP to see what they are using and what they are not. so the final product will be a good fit.
Additionally, blockchain technology is moving fast! It is hard to guess what will be there in 6 or 12 months. We decided to move with our plan but we can adjust that in the future to fit the needs of our users.
6 months is an eternity in crypto haha
Equal for 20 years in the real world, but patience pays off
Given the poolz platform handles liquidity from project owners and investors, it is important that the smart contract(s) have the absolute highest security.
Will there be audits to ensure the smart contract is flawless and ready for deployment? Assuming there is, who will be doing the audits?
More than anyone, we are concerned about the security of our smart contracts. We have spent hundreds of precious hours building a project that is value-oriented and safe for all users. So, the safety of our smart contracts is a top priority for us. That’s the reason we chose one of the best audit companies to work with us — Arcadia Group.
Arcadia works with some of the most innovative and fast growing companies & projects in the crypto and blockchain space. We received a warm recommendation about Arcadia from our partners from TomoChain. So, we have full confidence to use their services to ensure the safety of our contracts.
For Poolz smart contract audit, Arcadia Group’s focus is to verify that the smart contract system is secure, resilient, and working as per its specifications. The audit activities can be categorized into three sections:
- Security — Identify issues related to the security within each contract as well as within the system of contracts.
- Sound Architecture — Evaluate smart contracts architecture through the use of established software and best smart contract practices.
- Code Quality — A complete review of the contract source code, with a focus on correctness, readability, sections of code with high complexity, and quality of test coverage.
Moreover, when the audit is done, we will share an informational blog post regarding that.
The involvement of a well-known auditing company does go a long way to ensuring investor and network participant confidence!
Ok this next question also has your name all over it Stan :P
The technical detail section mentions homomorphic encryption which provides a secure OTC trading platform. Can you expand on this, and briefly mention where homomorphic encryption has been used most successfully?
Guy can take it… he knows as much as I. #oneteam
Lol. thank you Stan
I think the best use case of homomorphic encryption is in EIP-2612. The Permit function is using some encrypted data that makes calculations on the data without decrypting it fully. Poolz will have this implemented in the system in later updates. Homomorphic encryption is not new, but it’s still an experimental technology. We need to use it carefully.
How do you intend to prevent vote-buying and other assorted whale-games in your governance model? This is not clearly defined in the white paper from what I can see.
Launching as an administered platform in the MVP stage, Poolz will transition to a fully-decentralized community governance model based on the PoS consensus mechanism.
The model will come in a future update to the platform. To get the status of Poolz holder, you need to have a small amount (80 on this day, but it can change upon launch). After you pass this threshold. we still need the “whales” they will get better staking percent but still, right now, the vote count is 1
As such, POOLZ token holders will have a say in product features, token utility, auction types, platform fees, conditions for pool creation, the terms of governance, as well as the platform’s future plans and trajectory.
Ah right so in it’s initial phase, it will be a single vote per user above a certain holding — cool
Final question before we open it up!
What is your marketing strategy and budget to get founders to use your platform for capital raising vis a vis other platforms and private groups?
What is the total addressable market (TAM) and the market share you expect to take away from the traditional VC model?
First, as we see the picture, our mission is to gain trust as a company. I think we’ve been successful in meeting this goal. The company has in recent months, created significant collaborations with major companies and well-known investors in the industry. This has helped us validate our project and product.
Another aspect is the level of exposure of Poolz. Companies need to understand that when they are doing their sale on Poolz, they have tremendous exposure that will help them raise the capital they need. There is no doubt that the collaboration with The Foundry helps us in this matter.
Regarding our go-to-market strategy:
Step 1 — Before token listing
- PR with Market Across — the best PR firm in the blockchain and crypto space. They are working with Binance, Polkadot, Tron, among others.
- Our Advisors — Partnerships with Layer 2 Blockchain Protocols- Co-marketing, audit (Arcadia group) using Blockchain Labs/Incubateurs- The Foundry, Tomochain, and more to be announced.
- Testnet Bug bounty is scheduled for next week ,Local Telegram communities (the largest ones are our investors 🙂
Step 2 — Before Platform Live
- Referral program
- Biz-Dev Daily research in order to locate companies early and offer them to manage their sales on Poolz platform. Research media
- Target B2C / B2B
- First Pool on Poolz Platform- Create a “momentum” from this successful IDO,
- Weekly — Email campaign, Social Paid Campaigns, Staking & Governance models, Staking / Governance strategic users, Viral Marketing using B2B ,additional exchanges listing involving trading competition.
Do you plan to have an ambassador program as well?
You always think one step ahead:)
Maybe you can add me to your advisor list hahah :P
Do you have any plans to attract non-crypto investors to Poolz? One could argue that the success of a project depends on attracting investors who are still not in the crypto world. What are your plans to increase awareness about POOLZ outside of the crypto space?
It is a possibility we are thinking of when looking at the company’s long term. To bring non-crypto investors into the crypto space will be an exciting journey and we’ll surely embark on it. We’ll do that to grow the blockchain ecosystem as well as our platform. But, as our first step, our target will be to establish Poolz as a major platform in the blockchain and crypto space.
Fair enough — gotta walk before you can run. We at the Foundry will be with you every step of the way!
Final question before we open it up:
In the roadmap, it is mentioned that synthetic tokens will be included in Q2 2021. What is the role of synthetic tokens in the Poolz platform?
There are a few aspects of the synthetic tokens. The vision is to allow moving tokens between different networks and implement the synthetic mechanism to provide the solution. It will offer and allow the project owner to manage sales in multiple chains at the same time.
The synthetic token plays a big role in the bridge system. When we transfer a token from chain A to chain B, on the other side it will be a “synthetic” token that is linked to the original token via an equilibrium system that will ensure the correct value of the token on both sides. The synthetic token is an upgrade of the token factory system.
The token factory makes the synthetic token
Most of the farm coins suffer from high APY and are constantly printing new tokens. For example… I farm $POOLZ, Receive more $POOLZ and throw away my extra tokens. Most of the farm coins have failed and will fail on Token Metrics only. How do you offset the selling pressure?
This is a good one, thanks ! I was thinking the same. In the white paper there is a section about token burn. we cap the token to 5M and burn 1M.
What benefits [are there] for POZ token holders?
Are investors only governance eligible in Poolz as Liquidity Providers?
Because most priority in POOLz are private investor’s?
Hi, nice to meet you.
So first yes, as you said governance will be one of the POOLZ token holders benefits.
*The are numbers of use cases, while the most topics are:*
- Access to exclusive pools: As already mentioned, every pool on the platform is limited to POZ token holders for an initial duration after its launch.
- Access to better swap ratios: Exclusive pools also offer special discounts for POZ token holders, thus enhancing the possible returns for liquidity miners.
- Governance: The Poolz platform will implement a regular Proof of Stake (PoS) consensus mechanism, enabling POZ holders to gain voting rights by staking their tokens as designated wallets. In general, the mechanism will involve limited-period staking, to be defined in detail at the time of the platform’s governance launch.
- Staking: POZ token holders will be able to generate annual passive income from their POZ tokens, by staking them in specific ERC20 wallets. As an incentive, POZ holders will gain staking rewards (discussed under allocation).
What was allocation in private sale ? Of Total supply. What is the vesting period in private sale?
Hi!. Yesterday, we published the official article which includes a full and detailed explanation regarding our taken metrics, including private sale allocations, total supply, and vesting periods of each round.
You can find the relevant link here:
[Are you] working on Gas Fee Minimization? What model do you have to reduce gas fee?
Because swapping and nft auction and nft interaction we need more gas fee .
Our code architecture is clean, modular, and decluttered. Following a minimalistic approach to code development, the platform ensures resource-optimization, such that only the essential data is anchored on the blockchain and in the best-suited format. Together, the practices ensure perfectly balanced and minimal gas fee for transactions on the Poolz platform.
What do you think if Ethereum starts to choke, DeFi will move to a new platform? And what is POOLZ’ strategy if that happens?
We can work on other chains. (we have live tests on 4–5 right now). At this point it’s easy for us to change chains. You can see in the app link how simple it is to be on Rinkeby and TomoTestNet on the same page. I don’t believe “Ethereum starts to choke’’. but if it’s true — we are ready.
What will be the benefit of those providing liquidity to the platform? Who can be a Liquidity Provider?
Hi, I like your question.
Out of the total supply, 800,000 POOLZ tokens (16%) will be allocated as swapping rewards for liquidity providers participating in pools listed on the platform. Swapping rewards will be available for 10 years, releasing 80,000 POOLZ per year (1,539 tokens per week). However, in the future, governance may decide changes to the vesting ratio, as well as the reward mechanism (discussed under ‘Liquidity Provider or Investor’s Flow’).
Mechanism: In proportion to their contributions, liquidity providers will gain a percentage of the total liquidity deposited over the current week. Swapping rewards on the platform will be calculated and disbursed every 4 hour and in weekly cycles. Suppose, LP (A) contributes to Pool (1) in the first 4-hour slot of Day(1) — Week(1). Now, if LP (A) is the only investor during this period, he/she get 100% of the swapping reward for that slot. Then, say, on the third 4-hour slot of Day (2) — Week(1), LP (A) would still be eligible for swapping rewards, but in proportion to the total liquidity deposited in the meanwhile. Likewise, LP (A) continues to get some reward for the remaining week.
Again thank you all, Foundry Team, DuckDAO and Ferrum. It was a great pleasure to be hosted in your group. Hope we answered all of your questions as our time is limited. We were not able to answer everyone but please feel free to DM us if you have more questions.
Poolz Team 💫
Guy, Stan, and Liam — thank you so much for your time today/tonight and for the insightful answers given to our community. We look forward to taking part in the Poolz Finance journey as partners going forward.
Everyone — if you haven’t already, please join the Poolz TG channel and stay up to date (And to ask the team any further questions you may have):
Ferrum Network Details: