Governance
Control of the PoolTogether Protocol rests solely in the hands of the community holding the POOL tokens.

The POOL Token

POOL is the governance token of the PoolTogether protocol. Control over the protocol rests solely in the hands of the community holding the POOL tokens. The primary duty of POOL holder governance is to ensure the growth of the protocol by managing the protocol parameters properly. Those parameters are:
  • Manage the distribution of the POOL token
  • Determine parameters of prize pools (i.e., how many winners per week, prize size, etc.)
Anyone holding or delegated 10,000 POOL tokens can submit changes to the protocol. Once a change has been submitted, it is voted on by POOL token holders. You can read more about how to submit governance proposals and how voting works here.

How Governance Works

Changes to the PoolTogether protocol are submitted as governance proposals. Anyone who either holds 10,000 POOL tokens (0.1% of total supply) OR has 10,000 POOL tokens delegated to them can submit a governance proposal. Once submitted, governance proposals are voted on for five days. After this period, if the majority of votes are in favor AND at least 100,000 votes have been cast in favor, the proposal will pass. There is a two-day “timelock” before the proposal is actually implemented.

Voting

PoolTogether governance exists on the Ethereum blockchain and is not limited to the Pooltogether.com website. There will be many different interfaces you can use to view governance proposals and vote. However, it will also be supported on the “Vote” tab of app.pooltogether.com. Whenever a proposal is live, you can cast a vote there.

Delegation

If you hold POOL tokens but don’t want to actively participate in governance you can delegate your voting power to others. This action keeps the POOL tokens in your wallet but allows someone else to vote for you.
If you’d like to have more voting power, you can announce yourself as a Delegate on Sybil.org to allow others to delegate to you. This is a great way to have a bigger voice in governance.