New Project | PoolParty: DeFi platform under Cournot-style competition
If you checked Twitter frequently last weekend, you would most likely have seen a project called PoolParty, a DeFi platform characterized by Cournot-style competition. (APR), lock-up period, and the risk of each pool to determine which pool to join.
PoolParty provides 3 different pools for users to participate in gambling games. Among them, Pool 1 and Pool 2 use the Cournot-style competition method, that is, each user will make a judgment based on the pledge choices of other players, and use various strategies to choose the pool that is most likely to obtain the maximum profit for the pledge. Pool 3, on the other hand, offers variable APY rewards.
In pool 1 and pool 2, users need to use the PoolParty platform token PARTY for pledge. The users participating in the pledge in each pool have to compete to obtain the income of the corresponding pool, and the pool that loses the game has to pay 10% of the tokens to the winner pool every day. There is a 1% fee for staking to pool 1 or pool 2, and another 1% fee for unstaking from pool 1 or pool 2. During the lock phase of each epoch, users cannot unstake from pool 1 or pool 2. However, users can jump their staking balance from one pool to another using variable fees. During the lock-up period, there is a 1% fee for pool jumping. In the unlocking stage, there is no fee for pool jumping. To put it simply, users need to pay a 1% fee, and they can change pools at any time during the pledge process according to the status of the tokens in the pool, so as to increase their winning rate.
Pool 3 offers variable APY rewards and is a unique opportunity for users to stake PARTY-ETH LP tokens and earn incremental rewards during the first two weeks of PoolParty launch. Rewards are distributed every 24 hours. Unlike pools 1 and 2, there is no fee to stake to pool 3, but users must stake their tokens for 24 hours to be eligible for rewards. If the user unstakes before the end of the 24 hour period, unclaimed rewards will be lost and reward claims will be reset to zero. Also, pool 3 does not need to take the risk of losing tokens to other pools.
Favor Tokens Affecting Win Rate
Buying Favor Tokens in PoolParty can increase the winning rate of Pool 1 or Pool 2. According to the introduction, the reward ratio of Favor Tokens is calculated based on the ratio between the Favor Tokens of Pool 1 and the Favor Tokens of Pool 2. At the same time, it should be noted that the Favor token can only provide a maximum winning rate of 75%.
Favor tokens can be purchased with PARTY tokens, and cannot be sold. They can only be added to the pool as a bonus item. Favor tokens are priced by VRGDA (Variable Rate Progressive Dutch Auction), with a starting price of 5,000 PARTY, and the agreement adjusts the price of Favor tokens every day to reach the goal of 200 sales per day. If there are no sales within 24 hours, Favor's price will drop by about 50%.
PARTY Token Economic Model
The total supply of PARTY tokens is 1 billion. Token distribution is as follows:
40% of PARTY tokens are allocated to pool 3 issuance. These tokens will be distributed within 14 days as rewards to users who staked their PARTY-ETH LP tokens in pool 3. The release plan is designed to gradually increase the number of PARTY tokens added to the pool each day, starting with the initial seed amount on day one and increasing linearly up to 14 days.
20% of PARTY tokens are allocated to contributors at project launch. These tokens may be distributed to individuals or entities that contribute to the development, publication or promotion of the Pool Party game.
20% of PARTY tokens are reserved for the team behind Pool Party. These tokens can be distributed to developers, founders or other team members.
20% of PARTY tokens are allocated to the Ecosystem Fund. This fund can be used for various purposes related to the growth and development of the Pool Party ecosystem, such as liquidity mining incentives, partnerships, marketing, etc.
Friends who are interested in the latest progress of PoolParty can follow the project's officialTwitterOdaily's [New Projects] column aims to help early Web3 projects gain market exposure opportunities. If you are also a Web3 entrepreneur, please follow the official Twitter @OdailyChina, private message [seeking reports], send your project introduction and contact information, we Will communicate with you as soon as possible.official website。
Odaily's [New Projects] column aims to help early Web3 projects gain market exposure opportunities. If you are also a Web3 entrepreneur, please follow the official Twitter @OdailyChina, private message [seeking reports], send your project introduction and contact information, we Will communicate with you as soon as possible.
