The POOL Token is live and control of the PoolTogether Protocol now rests solely with the community! This concludes a multi-year process of progressive decentralization creating the world’s first open source, decentralized, and permissionless protocol for no loss prize savings.
Key details:
Token address is:
80.04% of POOL tokens have been allocated to the community, 12.44% to advisors and employees, 7.52% to investors.
14% of total POOL supply is available today to all depositors before January 14th, 2021 at midnight UTC. (V1, V2, V3 all included).
5% of total POOL supply will be distributed to all prize pool depositors over the next 14 weeks. Starting at midnight UTC, February 17th.
The POOL token exists solely to govern the PoolTogether Protocol. Any changes to the Protocol will be proposed and voted on by POOL token holders. These proposals can include things like adjusting the number of winners, launching new prize pools, integrating new yield sources, implementing scaling solutions and controlling future distribution of POOL to protocol contributors.
The POOL token is being freely distributed to all contributors to the protocol. The total POOL token supply is 10,000,000. After a four year waiting period a 2% yearly inflation can be implemented if token holders choose. The following is the initial distribution:
The 14% of POOL supply is a weighted distribution to all depositors based on the length and amount of their deposit.