Jare's Proposal Eight for Yield-Generating Opportunity: Gamify Interest

[staccDOTsol]

Why

https://www.pooltogether.com/ generates $1000+ in interest weekly that's paid out to a lucky wallet. 1 DAI is 1 ticket. Unlike the lottery, you can withdraw your DAI at any time. Some people are more attracted to luck than they are by earning interest slowly.

Solution

1. Allow other DeFi coins/tokens
2. Make the game more interesting and draw more players. Like other traditional lottos, we can set up a system where people choose a series of numbers and a random number generator picks the winning numbers that week. There's much less chance that someone will win, and the pot continues to grow. If someone gets most of the numbers, they get a smaller % of the prize pool. This incentivizes more users, and as the pot continues to grow into potentially a lot of money then there will be more new users depositing to get that bigger pot.
3. RAY's abilities now will earn more interest than competitors in this space already.
4. RAY pockets the alpha fees.
5. If someone doesn't win, they deposit more $ for more tickets and choosing numbers again in a following week.

Considerations

1. Smart contract would need to be infallible. As the pot grows, so does the interest of the bad actors on the internet.

Additional Info

Have fun with it! Part of the joy of Blockchain is gamifying dry or otherwise uninteresting subjects into something new, fun, and exciting.

[dpurhar27]

Cool idea @DunnCreativeSS ! I'm familiar with PoolTogether. We're exploring an integration with the project in which they deposit the funds that earns interest to form the pot into RAY instead of Compound.

I think there are many cool applications that can be built that leverage RAY, and further increase RAY's usage. As you described similar no-loss lottery mechanisms, with modified ways to win the pot. This isn't a feature we'd add to the core RAY contracts, but certainly something someone, if not us, should consider building one level higher - on top of RAY.