Next Steps for PoolTogether
We’re extremely happy with how the first version of PoolTogether was received! The first two pools had participation by over 500 unique Ethereum addresses and more than 110,000 Dai locked!
On top of this, the underlying financial construct — fully liquid, multi-party, interest bearing pools — has generated a lot of excitement around different applications.
The mission of PoolTogether is to help people achieve economic health. This includes the continued development of the “no loss lottery” as well as other applications of the underlying financial construct.
Today we’re launching our final pool on the V1 architecture (join here!) and sharing the improvements coming with V2. Here are the major ones:
- Automatic Pool Reentry — the default path for your money is to stay in the pool and continue to have a chance to win. A winner is declared every 14 days, we’re calling this a “draw”.
- Enter The Pool at Anytime — You can now join the pool at anytime, when you join you will be eligible for the next draw but not the current draw. The funds are immediately deposited into Compound.Finance earning interest right away.
- Exit The Pool at Anytime — You can also leave the pool at anytime, when you leave the pool you will not be eligible for the prize awarded in that draw.
Unlocking The Power of Pooled Capital
We’re also launching a new pool contract that specifies a pre-determined winner for the interest earned. This will initially be built out to support philanthropic causes but we anticipate more use cases being found. We’ll share more information on the launch partners for this new pool type as we approach the release.
Along with the new contract we’ll be conducting a new audit and bug bounty for security. The current release date for V2 is August 31st. 🏊🏼♀️
