Ethfinance community driven DAI Pod

So pretty!
  • 💪 As pod entrants, we get to combine the strength of all our deposits into a sole contract or ‘Pod’. Many little fish 🐟 become a big fish 🐋
  • 🤖 The PoolTogether protocol treats this contract as a single ‘address’ or ‘player’ within a Pool. If any ticket of the Pod is drawn by the PT protocol, winnings are awarded to the entire Pod and users can claim proportional to their stake within the Pod.
  • ⛽ Gas costs to join a Pod are about ⅓ as expensive as entering a Pool the traditional way. This is because the BATCH command efficiently combines all Pod entrants’ deposits into Compound in a single transaction, instead of each user doing the expensive Compound transaction themselves. (See the tutorial linked below for info about BATCH and more)
See the Pod represented as a ‘player’ in the pool on app.pooltogether!
  • The BATCH command needs to be run to push deposited DAI funds into the DAI Pool. This is a permissionless command and can be run by any user but I will run it myself at least once a week at or around Friday 18:00 UTC. This is approx 1 hour before the DAI Prize Pool is drawn. This will ensure any deposits from the week before will be in the live Pool for the next week but until the BATCH command is run, your DAI deposit wont be live in the Pool yet.
  • As creator of the Pod, I own the private keys for the PodManager. The PodManager CANNOT arbitrarily remove funds from the Pod, but is responsible for special actions such as distributing ERC721’s (Think NFTs that cannot be distributed to all pod holders)
  • Should the Pod win any NFTs, the ethfinance community can decide how we distribute. Either by competitions in r/ethfinance or liquidating on opensea. Another idea i had was to liquidate and donate to a gitcoin grant of community choice.
  • The contract tracks all POOL reward APY due to each pDAI token holder, but the DROP command needs to be run first to distribute. Again, this is a permissionless command that any user can run themselves on the contract.
  • There is an internal ‘early exit fee’ that will be charged on your deposit up to a max of 1% of the original deposit if you withdraw within 10 days, winding down to 0% the closer you get to the exit window. This is to prevent users ‘gaming’ the prizepool by depositing right before the draw and exiting right after. After the cooldown period has passed, you can safely withdraw your funds without any losses. The ethfinance.win ‘withdraw’ UI calculates this fee and will display what you will be charged if you attempt to withdraw early.
  • As is the advice with any smart contract, use at your own risk and only commit funds you are willing to lose. i.e please dont yolo degen into a lottery game with your life savings.

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