PoolTogether
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PoolTogether

Governance 101

Control of the PoolTogether Protocol rests solely in the hands of the community holding the POOL tokens. This is a revolutionary new way of organizing and it takes some education. The post explains how governance works.

How Governance Works

Voting

Delegation

If you’d like to have more voting power, you can announce yourself as a Delegate on Sybil.org and then others can delegate to you. This is a great way to have a bigger voice in governance.

What Proposals Do

Controlling governance managed prize pools

The governance managed prize pools are the ones that display on app.pooltogether.com. Some parameters on these prize pools are very simple to change, for example, adjusting the number of weekly winners or changing the frequency with which prizes are distributed. We expect proposals will be submitted to adjust these parameters.

The community has expressed desires for new no loss prize pools with different asset types or special rules. A prize pool using Tether as the deposit token could be created or a prize pool that only lets wallets deposit a fixed maximum. Governance proposals can be submitted to create new governance managed prize pools with different variations

Deciding governance managed prize polls

Distributing the POOL token

The broadest category is controlling future distribution of the POOL token. As more people contribute to the protocol by depositing, referring deposits, developing the protocol and other activities governance should continue to distribute control of the protocol to these people. Practically this can look like a referral rewards program, a grants program, a deposit reward program, or direct transfers!

Submitting Proposals

When it comes time to actually make the proposal, you can review the documentation and use the proposal creation interface (Launching February 23rd, 2021). You can create proposals without this interface but the interface helps make it more simple for non-technical people.