Intro

PoolTogether V5 introduces the option to seamlessly swap any token in your wallet into prize tokens, offering a convenient alternative to deposits. This feature enhances user flexibility, allowing for efficient participation in PoolTogether’s prize pools with ease. Alongside the option of deposits, users can now utilize Jumper, a multi-chain liquidity aggregator by LI.FI, for streamlined cross-chain swaps. Jumper simplifies the process of swapping any token in your wallet into PoolTogether’s V5 prize tokens. While this swapping method offers ease and speed, especially for smaller transactions, it's important to consider the impact of slippage and fees from decentralized exchanges, particularly for larger sums. For those transactions, depositing directly through a V5 interface may be more cost-effective. This tutorial focuses on using Jumper for efficient and convenient cross-chain swaps into PoolTogether V5.

Cross-chain swapping into V5 Prize Pools via Jumper

Step 1: Connect wallet.

Step 2: Click on the From box under Exchange and choose the chain and token you want to swap from.

Step 3: Click on the To box under Exchange, select Optimism as the chain (at the time of writing there is only an Optimism prize pool on V5), and type “prize” in the search bar to bring up PoolTogether prize tokens, then select which prize token to swap to.

Step 4: Enter the amount that you want to swap for.

Step 5: To the right side under You get, select a swap route.

Step 6: Review the bridge as shown. If everything looks good, select Start Bridging.

Step 7: From your wallet, select Token Allowance/Spending Cap and approve.

Step 8: From your wallet, confirm the bridge transaction.

Congrats, you are now in the pool! 🎉 To confirm, you can connect to one of the V5 interfaces and view your balance and winning chance. All prizes you win will automatically go straight into your wallet. That’s right, no more manual claiming! And if you use Rainbow wallet or Zerion, you will get notified as prizes land in your wallet.

You can learn more about V5 and its new features here. Good luck and have fun!

About LI.FI

LI.FI is a multi-chain liquidity aggregation protocol, enabling any-to-any token swaps across more than 20 networks by aggregating bridges and DEX aggregators. It significantly eases the process for users and developers in the multi-chain crypto environment. LI.FI simplifies the transition of assets across different chains and protocols, catering to dApps, yield aggregators, wallets, and DeFi protocols.

About PoolTogether

PoolTogether is a no-loss prize savings protocol. Born in 2019 from the philosophy of traditional prize savings models, PoolTogether has continually evolved, distributing over $10,000,000 in prizes through its various versions. Its latest iteration, V5, epitomizes this evolution as a permissionless prize-savings hyperstructure. It operates autonomously, requiring no human intervention, making it globally accessible and provably fair. With a focus on inclusivity and scalability, PoolTogether V5 allows anyone to deposit a range of assets into prize vaults, where the accrued yield is pooled and awarded as prizes in POOL tokens, fostering an engaging, no-loss saving experience.

How to Deposit to PoolTogether

• Getting Started with PoolTogether v5 - Video Tutorial

• This is What Saving Looks Like: An Introduction to PoolTogether V5 - Tutorial

PoolTogether Links & Resources

• Access V5 on app.cabana.fi or pooltime.app

• Discord

• Twitter, Farcaster, and Lens

• Blog

• Dev Docs

Introduction

The journey to financial freedom is as old as currency itself, with individuals and societies constantly seeking secure ways to save and grow their wealth. In the quest for a balance between security and opportunity, an intriguing concept has emerged in the form of prize-linked savings accounts (PLSA). These accounts blend the thrill of winning with the prudence of saving, offering the chance to win prizes simply by saving money. This concept, which has been exemplified by the UK's Premium Bonds, has found a new expression in the digital age through PoolTogether—a platform that embodies the ethos of prize-linked savings on the Ethereum blockchain.

The Inspiration - UK Premium Bonds

The UK’s National Savings and Investments (NS&I) Premium Bonds program, launched in 1956, stands as one of the most successful applications of the PLS concept. Premium Bonds allow individuals to purchase bonds and enter a monthly draw for tax-free prizes instead of receiving interest. With over £100 billion invested and around 21 million people participating, the program has become a staple of the UK's savings landscape. The largest prize is £1 million, with odds of winning for each £1 bond number at 21,000 to 1 as of November 2023.

The success of Premium Bonds lies in their risk-free savings model with a bonus chance for rewards. Unlike a lottery, where one spends money with no guarantee of return, Premium Bonds safeguard the principal amount while providing the excitement of a potential win. This model has inspired several iterations globally (including Walmart’s Prize Savings Program), each aiming to make saving an engaging and rewarding experience.

Transition to Digital - The PoolTogether Model

PoolTogether has harnessed the essence of Premium Bonds and repurposed it for the decentralized finance (DeFi) era. The platform is a blockchain-based protocol where users deposit cryptocurrency into a collective pool. This pool generates yield through other DeFi protocols, and instead of distributing this yield as interest, it is pooled and awarded as prizes in daily draws. This design ensures that even those who do not win retain their deposited funds, aligning with the foundational PLS principle of no-loss saving.

The Hyperstructure Advantage

The latest iteration of the platform, PoolTogether V5, also known as the Hyperstructure, represents a significant leap forward. It is an immutable and autonomous protocol, ensuring that once deployed, its rules and operations remain unchanged and free from any central control. This upgrade extends the core principle of PLS into a system that is open, transparent, and trustless—qualities that are central to the blockchain ethos.

By integrating the POOL token as the unified prize asset, PoolTogether V5 ensures scalability, deep prize liquidity, and stakeholder alignment. This system allows for the integration of an unlimited number of assets and yield sources, making it a robust and inclusive platform for prize savings.

https://x.com/PoolTogether_/status/1715040831672090862?s=20

Looking Ahead - The Impact of PoolTogether

PoolTogether’s Hyperstructure is more than just a technological innovation; it is a financial inclusion tool. It democratizes access to prize-linked savings, allowing anyone with an internet connection and some cryptocurrency to participate. This accessibility can be particularly impactful in regions with limited banking infrastructure, providing a secure and fun way for individuals to save and potentially earn significant rewards.

Moreover, the protocol's permissionless nature fosters a collaborative and innovative environment where developers and entrepreneurs can build upon and extend its capabilities. From creating new vaults for various assets to designing hooks that integrate with other DeFi protocols, the possibilities for growth and development are vast.

Final Thoughts

PoolTogether stands at the intersection of traditional financial wisdom and cutting-edge blockchain technology. It reimagines the time-honored concept of prize-linked savings for a new generation, offering a model that is both secure and exhilarating. As the platform continues to evolve, it holds the promise of expanding financial freedom and empowering savers worldwide. With its roots in the tried and tested model of the UK's Premium Bonds, PoolTogether is poised to define the future of saving.

How to Deposit to PoolTogether

• Getting Started with PoolTogether v5 Video Tutorial

• This is What Saving Looks Like: An Introduction to PoolTogether V5 Tutorial

PoolTogether Links & Resources

• Access V5 on app.cabana.fi or pooltime.app

• Discord

• Twitter, Farcaster, and Lens

• Blog

• Dev Docs

Ethereum, the second-largest cryptocurrency by market capitalization, is best known for its smart contracts that power a myriad of decentralized applications (dApps), including Decentralized Finance (DeFi). And now a new Ethereum standard is set to disrupt the status quo and propel the DeFi space into uncharted territories of innovation and efficiency. This revolutionary standard is known as ERC-4626.

Understanding ERC-4626

ERC-4626 is an Ethereum standard designed to standardize tokenized vaults across the DeFi ecosystem. A team of five Ethereum developers, spearheaded by Joey Santoro of Fei Protocol, proposed the standard in late 2021. Within months of its proposal, it was approved by Ethereum and caught the attention of major DeFi protocols such as Balancer, Yearn, and Frax, solidifying its importance in the landscape.

https://twitter.com/joey__santoro/status/1504603906726240258?s=20

In the realm of DeFi, vaults represent secure storage mechanisms for digital assets. They offer advanced security features, can prevent immediate withdrawals of funds, and enable multi-signature transactions. Unlike traditional wallets, vaults can implement smart contracts to help users maximize the yield on their digital assets. With pre-set strategies for auto-compounding, rebalancing, and more, tokenized vaults are truly revolutionary in the DeFi space.

However, before the arrival of ERC-4626, integrating tokens from different protocols to create a unified approach was a complex task. Developers needed to thoroughly research each token's yield-generation mechanism and write additional code to integrate each token's mechanism into their applications. This process was not only time-consuming but also prone to potential errors due to the added complexities.

The ERC-4626 Solution

ERC-4626 was created to alleviate these challenges. By unifying the technical parameters of yield-bearing vaults, ERC-4626 makes development, integration, and interoperability much easier for vaults. In essence, ERC-4626 is a common standard that any yield-bearing vault can use. It reduces development time and effort while enhancing security by standardizing everything.

The standard not only simplifies the development process but also reduces the risk of coding errors, thereby enhancing security. In a space notorious for its susceptibility to hacks and exploits, the standard's focus on security cannot be overstated. ERC-4626 is a significant step toward making DeFi applications less hack-prone and more trustworthy.

The Future of DeFi with ERC-4626

The implications of ERC-4626 are profound and far-reaching. It enables new DeFi primitives such as tools for customizable yield exposures and advanced leverage strategies. The standardization of tokenized vaults fosters a more efficient and interconnected DeFi landscape, making the space more attractive for new entrants.

https://twitter.com/erc4626/status/1654121022201950208?s=20

As more protocols adopt the ERC-4626 standard, the DeFi space is set to experience a significant shift in composability and interoperability. This will lead to a rapid proliferation of innovative solutions, presenting new opportunities for DeFi users and pushing the boundaries of what is possible within the DeFi landscape.

ERC-4626 represents a paradigm shift in the DeFi landscape. It stands as a testament to the power of standardization and the potential it holds to spur innovation, enhance security, and foster interoperability in the rapidly evolving DeFi space. By standardizing tokenized vaults, ERC-4626 is paving the way for the next generation of DeFi applications, proving once again that DeFi's potential is only limited by our imagination.

The advent of blockchain technology has been a game-changer, particularly for decentralizing power and building trust in systems that have typically been controlled by centralized entities. Ethereum has emerged as a key player in this realm, its core offering being an open-source platform for decentralized applications. However, as we tread further into this territory, potential challenges are beginning to surface. A recently released blog post by Ethereum's co-founder, Vitalik Buterin, raises crucial points on these matters. In this article, we take a closer look at the concerns raised by Vitalik and explore the possible strategies to safeguard Ethereum's core principles while steering it towards a resilient future.

Recognizing the Risk of Real-world Intrusion

Vitalik's post leads us into a hypothetical yet very plausible future scenario to highlight the risks associated with broadening the duties of Ethereum's consensus protocol. His scenario revolves around a new ETH/USD price oracle, which over time, expands to incorporate a multitude of currency pairs. This oracle, by nature, is subject to real-world political conflicts that ultimately leads to a split in the Ethereum community. This narrative is a stark illustration of the potential perils that Ethereum and similar platforms could face if they intertwine their operations too tightly with real-world factors.

While the scenario may seem like a compelling, dystopian science fiction story at first, it strikes a chord with a fundamental concern: Should Ethereum, a global permissionless platform designed to function independently of nations and geopolitics, expose itself to real-world conflicts?

The answer, according to Vitalik, is a resounding no. Ethereum's strength lies in its purity as a mathematical construct, remaining unadulterated by external world influences. The moment it begins to 'hook in' outside world factors, like political tussles or economic turmoil, it becomes vulnerable to those very issues.

The Pitfalls of Expansion

Vitalik warns against the temptation of expanding the responsibilities of Ethereum's consensus. Validators maintaining the blockchain would need to invest more effort to update and manage software, complicating their roles. Moreover, disputes in external communities could increasingly spill over to the Ethereum community, introducing more opportunities for conflicts and potential community splits.

He also points out the emergence of a 'too-big-to-fail' dynamic, where larger, more influential projects on Ethereum would have an unfair advantage of being rescued during crises, creating a potentially uneven playing field.

The Crucial Role of Staking and Validators

The role of staking and validators takes on heightened significance on Ethereum. Vitalik's post touches upon the potential risks and responsibilities that come with the transition to a proof-of-stake model. In this model, validators play a pivotal role in maintaining the network's integrity and security. They are responsible for processing transactions and creating new blocks in the blockchain.

However, as Vitalik points out, expanding the scope of validators' responsibilities beyond these core functions can introduce systemic risks. Validators, in a bid to participate in additional protocols or applications, might find themselves overburdened or entangled in complex decisions that go beyond the technical realm into the socio-political arena. This not only increases the operational complexity for validators but also raises the stakes in terms of the security and stability of the entire Ethereum network.

Moreover, the concept of staking in Ethereum 2.0 – where validators are required to lock up a significant amount of ETH to participate in the network – adds another layer of complexity. The dual-use of staked ETH in other protocols or applications, while seemingly beneficial in terms of resource utilization, could potentially lead to conflicts of interest or security vulnerabilities. Vitalik cautions against such scenarios, emphasizing the need to maintain a clear boundary between the core functions of Ethereum's consensus mechanism and any external applications or protocols.

In essence, the shift to Ethereum 2.0 and its reliance on staking and validators is a transformative step towards greater efficiency and sustainability. However, it is imperative that this transition is managed with a keen awareness of the potential risks involved. By ensuring that validators remain focused on their primary role and are not overburdened with extraneous responsibilities, Ethereum can maintain its foundational principles of decentralization and security.

Building the Resilient Future

How can we avoid pitfalls and ensure a resilient future for Ethereum? Vitalik suggests that we approach solutions on a case-by-case basis given the distinct nature of each problem:

• Decentralized Oracles: As Vitalik suggests, decentralized oracles are one potential solution. They could operate under the assumption that participants may become corrupt slowly over time, thus providing an early warning system for users to exit any system depending on the oracle.

• Decentralized Court Systems: For more complex matters, a decentralized court system built on a decentralized autonomous organization (DAO) could offer an impartial platform to resolve disputes.

• Multiple Proving Systems: Layer 2 protocols could provide added security by relying on multiple proving systems. Trusted hardware could play a vital role in these systems, adding a layer of robust security.

• Minimal Bridge Dependence: It is advisable to keep dependence on bridges to a minimum. Holding assets on their native chain and using atomic swap protocols to move value between chains could be a safer strategy.

Final Thoughts

Vitalik's blog post is a clarion call for caution as Ethereum and other blockchain platforms grow and evolve. It serves as a timely reminder that in our rush to expand and incorporate more functionality, we must never lose sight of the fundamental principles that have made these platforms successful. Their minimalism, focus on mathematical purity, and independence from real-world conflicts are some of the key characteristics that set them apart.

It's vital for the future health and growth of the Ethereum ecosystem to carefully consider these issues. By keeping the core minimalist, we safeguard the platform from becoming overly entangled with external conflicts and maintain the sanctity of Ethereum's purpose: to create a decentralized world where trust is built through technology, not bureaucracy.

https://twitter.com/avsa/status/1506005413124354051?s=20&t=d405v6X3_sLKBs0LcHmIdg

For context, the registrant is known as the owner of the ENS domain and also has the ability to change the controller. The controller is the admin of the records belonging to the ENS name. The controller does not own the name. They can only update the records.

If you do not want to wait until the redesign to gift an ENS domain, follow these steps after registering the name on app.ens.domains :

Step 1: update the ETH address to their address (and any other records if you’d like such as avatar, links, etc. in one go to save gas)

Step 2: set the controller to their address

Step 3: transfer the registrant to their address

If the receiver would like the domain set as their Primary Name, they will have to pay the gas themselves. That’s something you cannot do for them unfortunately. If you only change the registrant, the records currently in place will continue to be yours. Although the recipient can update the records, they'll have to pay the gas fee to do so.

It is best to follow these three steps when gifting in order to have the name completely set up for the person receiving the domain. Note that you will have to pay for gas three separate times since you are initiating three changes. Make sure you have enough ether in your wallet to cover the fees! Happy gifting :)

The feature isn’t available on the PoolTogether v4 UI just yet, so you’ll have to do it from the smart contract

***We will be doing this from polygonscan, so make sure your funds have been deposited to the Polygon network***

Here’s how you do it:

Step one: go to the PTaUSDC contract on polygonscan

Step two: scroll down to the verified contract, click on the Write Contract button (or Write button if on mobile), and connect using MetaMask or WalletConnect

Step three: once connected scroll down to number 7, the delegate function

Step four: enter the address you wish to delegate to and click Write

Step five: pay the gas fee

And you’re done!

When you go back to your PoolTogether account page, you will see that your daily and weekly odds are now both zero. You can also get confirmation of your delegation from the contract by switching from Write Contract to Read Contract and scrolling down to function number 6, delegateOf. There you will input your own wallet address and then hit Query. It will return the address you are currently delegating to

If you would like to take back your delegation and recover your winning chances for yourself, simply follow the steps again and this time input your own address into the delegate function. EZPZ 😎 have fun!

https://twitter.com/EspanolGraph/status/1471968300108111873?s=20

he was very enthusiastic about the graph + ethereum’s future at the party

https://twitter.com/JosephALChami/status/1472209081289121794?s=20

argentina’s ex-president even got a chance to meet vitalik during v’s time in the country

https://twitter.com/mauriciomacri/status/1472269145840386057?s=20

proof of humanity’s santi gave vitalik a very warm welcome

https://twitter.com/santisiri/status/1472300906716696581?s=20

suddenly it was announced that there might be an open talk set up with vitalik. they just needed to find a location

https://twitter.com/santisiri/status/1472624907796111361?s=20

et voila. an announcement was tweeted after a location was confirmed. tickets were finally made available

https://twitter.com/santisiri/status/1472696060351025154?s=20

even a POAP was created for the event

https://twitter.com/Imt0t0/status/1472936815493627911?s=20

love this tweet of ziberial comparing this photo of vitalik and his supporters in argentina to a renaissance painting of jesus christ and his disciples. can’t unsee

https://twitter.com/ziberiaI/status/1473049812371185666?s=20

ENS got a shoutout during the live talk by vitalik

https://twitter.com/Brommhill/status/1473560384086888455?s=20

ethereum’s goals were also addressed

https://twitter.com/PabloSabbatella/status/1473444646437019650?s=20

days after the talk, vitalik stuck around the country for humanitarian duties :)

https://twitter.com/santisiri/status/1474476236248281088?s=20

https://twitter.com/InfoScholas/status/1474171030176505863?s=20

clip from the live talk of vitalik discussing ethereum’s future

complete vid of the talk: