Enhancing attention of users to staking by gambling XSUSHI in separated pool

About

Due to “Prize-linked savings account” economical research, I suggest to the community the concept of changing the part of XSUSHI staking rewards, to optional gambling on rewards. It can be optional mode for thos who are interested in that way of rewarding, thru separate pool.

A normal savings account with 2,000$ in it at a bank that offered 1% annual interest would earn 20$, but with a prize-linked savings account, instead of being given the 20$ in interest it would be entered into a gamble with, for example, a 0.4% chance of winning 5,000$. As always, that gamble is still worth 20$ monetarily but to the gambler it’s worth more.

This prize-linked saving accounts have been incredibly successful so far at getting people to save.

In Michigans trial of the system 56% of those using it were first-time savers.

These same principles are the ones that make lotteries work.

Concept

Google Sheets formula concept.

Effect

This way of rewarding can create new slot of stake holders, who have not much SUSHI to get satisfied with 5-15% APY from XSUSHI, and ready to bet some to win the JACKPOT. Formula is still balanced enough to get big return on every cycle.

Details

It can run every 24h for example, taking all XSUSHI staked on special separate gambling pool, convert them to tickets 1:1 and repay the winnings in contract before user want to unstake it.

Vote

Please leave your vote and opinion.

5 Likes

Hi Augustus, could we look at building something similar together through PoolTogether? https://builder.pooltogether.com/
Community Prize Pools. The No Loss Prize Pool Builder is live… | by Leighton Cusack | PoolTogether | Feb, 2021 | Medium

1 Like

I LOVE this idea @augustus, I’m on of the original devs for PoolTogether and we’ve actually already been looking at integrating xSushi as a yield source for the prize pool builder.

What that means is anyone could come up create prize pools that receive SUSHI for deposit and earn yield via xSushi. Additionally, once a prize pool is created POOL governance could vote to add POOL rewards to it (similar to Onsen) so it would be even better for Sushi depositors.

Let’s make this happen! Adding a new yield source is quite simple, here are the instructions: Custom Yield Sources - PoolTogether 3.0

1 Like

Hi! Sure you can integrate this formula to your project.

Please mention that it not 0% loss. There are 34% absolute loss tickets and 34% tickets that wins less then they bet.