MetaFest Poor Player Pool

Fund :money_with_wings:

Some of the players of MetaGame would like to start a pool to get some core players to MetaFest, who would go if they could afford it but cannot.

Good Ghosting :ghost:

I have met with the Good Ghosting team to open a savings game for us. Good Ghosting is a savings game on multiple chains, backed by the power of Aave. They have agreed to allow MetaGame to open our own pool. For more info on Good Ghosting click HERE

Choices

We have many choices as far as parameters go. I will list a few here and then give my take on it.

  • Privacy - We may gate the savings pool only to MetaGame players, patrons, MetaFam or we may create the pool as a public pool, allowing anyone to save, earn, and support alongside us.

  • Savings Collateral - We may use any ERC-20 token (SEED,WETH) or Aave aToken (aDAI, aMATIC) to earn more yields for savers

  • Rewards Dispersal - We may put up to a certain percentage (tbd, they believed it was 50% maximum but will confirm soon) of the rewards earned into our Gnosis Safe for dispersal to Players we have voted to receive the funds.

  • Bonus Rewards - We may add any additional ERC-20 as rewards to players in the pool

  • Bonus NFT - We may add an NFT reward to the pool for all successful players (Good Ghosts :ghost:)

Musashi’s Take

I would make it a public pool on Polygon using SEED as the collateral and the rewards with a rewards dispersal of the max 50% to our Gnosis for dispersal to those we vote should receive the funds…
Bonus rewards could come from each member individually but we could also allocate some of the treasury to this endeavor. Reasoning for the collateral being SEED is that we would stand to benefit more from the buy pressure on SEED than the minimal APY we could earn in that small timeframe leading into MetaFest with any aToken on Aave.

~ Update Feb, 21, 2023 ~ 2023-02-21T05:00:00Z

Upon further analysis and discussion we have a newly revised strategy for the MF PPP. It is as follows:

1,352.01 SEED sponsored by MetaGame treasury.
This can be an Infinity Keys puzzle in the future.
Because 13 is M 5 is E 20 is T and 1 is A
= META

Total SEED - 1,352.01
80% - 1,081.608 SEED to gnosis safe for dispersal after game
20% - 270.402 SEED to incentive pool

- duration: 20 weeks
- deposit amounts, currency: Flexible | (Refer to “Strategy 1” and “Strategy 2”)
- frequency: 2 weeks
- pool type: Flexible Savings
- incentives provided: 270.402 SEED + NFT
- admin fee to gnosis percentage: 50%
- whitelabel or open: Open
- incentive token: SEED - 0xEAeCC18198a475c921B24b8A6c1C1f0f5F3F7EA0
- timelines: Game start: March, 1, 2023 | Game End: July, 19, 2023 (with a 1 week holding period upon game end)
- network: Polygon
- yield strategy: (Refer to “Strategy 1” and “Strategy 2”)

Strategies

Strategy 1

- duration: 20 weeks
- deposit amounts, currency: Flexible | DAI
- frequency: 2 weeks
- pool type: Flexible Savings
- incentives provided: 270.402 SEED + NFT
- admin fee to gnosis percentage: 50%
- whitelable or open: Open
- incentive token: SEED - 0xEAeCC18198a475c921B24b8A6c1C1f0f5F3F7EA0
- timelines: Game start: March, 1, 2023 | Game End: July, 19, 2023 (with a 1 week holding period upon game end)
- network: Polygon
- yield strategy: Aave v3

Strategy 2

- duration: 20 weeks
- deposit amounts, currency: Flexible | DAI, USDC, USDT, WETH, WBTC
- frequency: 2 weeks
- pool type: Flexible Savings
- incentives provided: 270.402 SEED + NFT
- admin fee to gnosis percentage: 50%
- whitelable or open: Open
- incentive token: SEED - 0xEAeCC18198a475c921B24b8A6c1C1f0f5F3F7EA0
- timelines: Game start: March, 1, 2023 | Game End: July, 19, 2023 (with a 1 week holding period upon game end)
- network: Polygon
- yield strategy: Curve Atricrypto (Volatile)

Game Flow

Strategy 1

Players deposit amount of DAI they wish every 2 weeks.
Game runs for 20 weeks with a total of 10 possible deposits.
End of game there is a 1 week hold period.
Rewards accrued in gnosis plus what was set aside in gnosis gets dispersed to MG Players who were voted to receive funds after waiting period at end of game.

Strategy 2

Players deposit amount of DAI, USDC, USDT, WETH, and/or WBTC they wish every 2 weeks.
Game runs for 20 weeks with a total of 10 possible deposits.
End of game there is a 1 week hold period.
Rewards accrued in gnosis plus what was set aside in gnosis gets dispersed to MG Players who were voted to receive funds after waiting period at end of game.

Some helpful docs on how games work can be found HERE

Summary

  • Should MetaGame sponsor 1,352.01 SEED to the Poor Player Pool?
  • Should we save with DAI in Aave or Atricrypto in Curve? (DAI, USDC, USDT, WETH, WBTC)?
  • Players will choose amount to save at the beginning of the game and save that amount bi-weekly until game conclusion. (10 bi-weekly rounds total)
  • Those who win (make all 10 of their deposits) split the rewards of 50% of the collectively earned apy amongst all winners. Those who lose will forfeit their apy rewards but can still recover their saved collateral at the end of game. Anyone may choose to pull their collateral at any point but will lose apy rewards and any additional incentive rewards accrued during the game. There is an early withdrawal fee if withdrawn before game end.
  • The 20% SEED from the incentive pool is paid out to all winners of the game, at game end.
  • There is a 1 week waiting period at the end of the game, after the last deposit, before anyone can withdraw their saved collateral and/or rewards. (To be clear, anyone can withdraw their saved collateral at any given point, but will sacrifice any rewards accrued.)
5 Likes

It sounds good and I’m happy to be part of it. Makes sense to me to make it public too. I’m pretty sure you’ve got this, but if I can help with anything, let me know!

1 Like

Agree with what you’re proposing @Musashi13 and will gladly participate. Thank you for looking into it. What else needs to be done?

2 Likes

Thank you.
I’ve made an update on the steps moving forward.

1 Like