pooltogether-community-ui
aave-v3-core
pooltogether-community-ui | aave-v3-core | |
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20 | 12 | |
45 | 761 | |
- | 2.0% | |
2.2 | 5.3 | |
12 months ago | 22 days ago | |
JavaScript | TypeScript | |
MIT License | GNU General Public License v3.0 or later |
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pooltogether-community-ui
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Smart Contract Security Field Guide
First off, wanted to say thanks very much for posting this, primarily because I think it is an example that is straightforward and easy to understand. That said, I'm also thinking "if this is one of the best, straightforward examples people are talking about when referring to 'the value of smart contracts', then smart contracts are just nowhere near the important tech its boosters believe." (To be clear mteigers, not directing this at you, just saying this because what you've posted is probably the best example of a real-world use case I've seen).
In summary, what PoolTogether (https://pooltogether.com/) does is basically act like a normal savings account, except instead of you getting 4% interest a year or whatever, that interest is all pooled and then given out in big chunks at random - most people get nothing, but "winners" will get what is essentially everyone else's interest. Some notes:
1. I'm not clear what activity they're engaging in that actually generates interest (e.g. who they're lending to in order to generate a spread), but in fairness I didn't spend much going into the details. That said, if they really are generating income by lending, then I'm very curious how they can't suffer from some of the same negative edge-cases inherent in fractional reserve banking, like a run on the bank. If they are not generating real income from lending, I'm very suspect about how they can really be generating interest. Again, I didn't look much into this, so totally admit I could just not be understanding the details here.
2. I see absolutely no real benefit that comes from doing this as a smart contract vs. just doing this as any other kind of normal software (e.g. what core banking software provides), despite what their blurbs on the website say.
So still just dumbfounded by the lack of real utility in any of these smart contract examples I've seen.
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New Landing Page is live! 📣
Take a look: https://pooltogether.com
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Unlocking Direct Engagement: How Innovative DeFi Companies Harness Push Protocol in the Web3 Revolution
PoolTogether: Transforming Savings Games and Lotteries
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PBS Crypto Decoded | NOVA (2023) [00:53:32]
How about defend a prize-linked savings program from an individual that placed around $12 into the protocol before immediately filing a lawsuit?
- Last day before next draw at moneropot.org
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DEFI is not the place where you can increase your deposit
Have you checked out PoolTogether. You earn yield in the form of prizes and if you deposit on optimism you also earn OP tokens. It’s like a DeFi savings account for USDC. Worth looking into if you haven’t already.
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Tell me about your DAO
Pooltogether uses their token for governance but you absolutely do not need to have it to use the product or participate in anything. It’s strictly used for voting in governance. No blockers
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Show HN: Web3 is not community-led, as much as they try to claim they are
There's literally one project that I've seen being truly useful: https://pooltogether.com/
It's cool because it's not possible to do this without crypto (in terms of trust). But because it uses a smart contract you can be sure that when you put your money into it, it won't steal it.
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'Predatory gambling' has helped the lottery reach sky-high jackpot, critics say
We could easily incentivize no-loss lotteries like https://pooltogether.com/ I wonder how that affects problem gamblers? If there's no opportunity to actually lose anything do problem gamblers choose other options?
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Favourite 1-100 Million M/Cap Sleepers?
POOL - PoolTogether https://pooltogether.com/ Open source pooled savings account/lottery with twice weekly draws
aave-v3-core
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Charity and crypto
Pooled assets earn interest in a decentralized non-custodial liquidity market protocol called Aave. You can withdraw your crypto and exit the pool at any time. Note that neither Crypto for Charity nor JustCause will ever have control over your assets so you will always retain custody of your assets.
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Smart Contract Security Field Guide
These are collateralized loans that are automated with "smart" contracts. Programmable money.
Who? Anyone who wants to provide liquidity. Is this different from existing solutions? Yes and no, the difference is that there is no human intervention here... you don't have to ask for permission. You're also dealing with a global pool of funds using open source technology, instead of just a single bank or service.
The only additional "fees" above the interest rate are the cost of a transaction on the block chain. There are certainly a lot fewer hands in the pot and overhead.
Learn more at one of the largest and oldest sites: https://aave.com
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Bitcoin: Addressing the Ponzi Scheme Characterization – Lyn Alden (2021))
> That's a totally valid use case and possible today. The best part is that I don't need any sort of permission to do so. No credit checks. No banks. No government involvement.
Because that is definitely something that regular consumers do and a problem that needs solving.
> In fact, it is so possible, the market for this on a single platform is over $7.8 BILLION. https://aave.com/
What you've just showed me is effectively an actual ponzi scheme all built on nothing with no doubt there is artificial inflation going on there.
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Unlocking Direct Engagement: How Innovative DeFi Companies Harness Push Protocol in the Web3 Revolution
The DeFi landscape has witnessed the rise of industry giants like Uniswap and Aave, gaining widespread recognition. However, amidst these prominent platforms, a group of dynamic companies is making significant strides in the Web3 revolution. In this article, we highlight a selection of innovative companies that have caught our attention with their valuable contributions to the DeFi ecosystem. What sets them apart is their compelling approach to directly engage with their communities. Before delving into their unique strategies, let’s explore these remarkable companies in greater detail.
- $100 or $1,000? AAVE Price Prediction for 2023, 2025 & 2030
- Any bank open tomorrow?
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Question about Aave
https://aave.com/ is the only real aave.
- aave allows liquidation, when an asset swap to a higher LTV asset would suffice · Issue #829 · aave/aave-v3-core
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Thoughts on radiant capital? Arbitrum up and coming better than AAVE?
The AAVE V3 business license expired recently, it's open source now: https://github.com/aave/aave-v3-core/blob/master/LICENSE.md
- List of smart contracts to strengthen your Auditing skills
What are some alternatives?
building-secure-contracts - Guidelines and training material to write secure smart contracts
seaport - Seaport is a marketplace protocol for safely and efficiently buying and selling NFTs.