In a surprise announcement, PoolTogether decided to launch their governance token yesterday: $POOL. This innovative project had been operating in the industry for several years without a token, but since the team’s goal was always to offer a fully decentralized service, here comes the token that will decide PoolTogether’s future plans. Fortunately, I had been lucky enough to use their site before as I had already reviewed it on DeFi.cx, so I also received a few tokens for free. But even so, I decided to invest heavily in their token as it is one that I think will perform very well! Let’s see why!
9 Reasons why I love the POOL token
1) Project already up and running: Unlike 2017, in 2020-2021 many projects launched their token only after creating the product. There is now no more hype selling but rather cutting-edge technology with an important user base. PoolTogether has been active since 2019 and has already been used by more than 17,000 different addresses (addresses that have all received POOL tokens as gifts).
2) Decentralized Protocol for no-loss prize games: An industry strongly controlled by governments around the world. PoolTogether would like to change the whole market and try to remove these intermediaries, allowing users to create prize games among themselves. An industry that is worth more than 200 billion dollars every year. The prospects are really good!
3) Backed by big names. Over time we have read about several big names and their investments in PoolTogether. These include Coinbase with its ‘Coinbase USDC Bootstrap Fund’ program which invested in Uniswap and PoolTogheter at the same time. Other investors include IDEO CoLab Ventures, ConsenSys Labs and DTC Capital with around $1 million. On the site we can find other names such as: Parafi Capital, the LAO, Metacartel and Robot Ventures.
4) Important integrations: The PoolTogether community is quite big and has already created several easy to use interfaces on other well known DeFi products like Argent, ZapperFi and Zerion. I have already read some dev ideas on Twitter about integrating the project into other DeFi projects. There is for example the post of Emiliano Benassi who is thinking about a way to integrate PoolTogether in Yearn Finance. It is well known that in DeFi all protocols are constantly collaborating!
5) Strong Media Coverage: While searching around the net I noticed that PoolTogether has had strong coverage so far, being featured on the world’s top crypto sites such as: CoinDesk, Yahoo Finance, Decrypt, Blockonomi, Binance Academy, CoinBase Blog, QuantStamp blog, DeFi Rate, DeFi cx :), Publish0x, Voice.com and so on. And all these articles seem organic to me, not sponsored posts as is often the case in the crypto world! Amazing!!!
6) Public and serious team: Lately we have become accustomed to Telegram groups full of people with no crypto knowledge who do nothing but ask stupid questions like ‘when moon’, ‘when lambo’, ‘when airdrop sir’ and so on. PoolTogether takes things more seriously and has decided not to have a Telegram group but only a serious and quite active Discord group. It is enough to visit it to understand that the quality is at the highest level. And on top of that, the founders are public, which is something that has become very popular lately.
7) Official Twitter account followed by the Crypto Creme de la Creme: In a period when crypto investors are only interested in projects thanks to ‘influencers’ paid by the projects, important followers can make the difference. Just to name a few, PoolTogether is followed by: Stani Kulechov (Founder of Aave), Lesher (Founder of Compound), Diane Dai (Founder of DODO), Sassal0x, Spencer Noon, DeFi Dad, Ryan Sean Adams, Jordan Spence, Emiliano Benassi, Quantstamp, Zerion, KyberSwap, Compound Labs, 1InchExchange, ChainlinkGod, Bamboo Relay, Token Terminal, Opium, Roll, ParaSwap, Curve, Ren Protocol, MonoLith, QuickNode, BarnBridge, Ampleforth and many, many other well-known names in the Crypto and DeFi scene. All it takes is a few tweets from some of them to get indirect publicity towards the POOL token.
8) Excellent Token Distribution: 80% of the tokens go to the community, 7.52% to investors and 12.44% to advisors and the team. Some of the community tokens were distributed free of charge to those who used the project before January 14th, 2021. We are talking about 17,000 Ethereum addresses. That’s why at the moment we often see price dumps on Uniswap (people selling tokens received for free). But I’m sure that in 1-2 days the price will become more stable and then rise continuously.
9) Low supply: In total there will be a maximum of 10,000,000 POOL tokens. With a current price of about $14-15, the fully diluted marketcap is about $140-150M. If you check out the various hype-filled projects launched lately on PolkaStarter and other similar platforms, you’ll see that new projects come in at $1-2-3B. Projects with much less solid foundations than PoolTogether. Are you sure that this marketcap won’t go up a lot in the coming days?
We hope that we have presented you with a serious and relevant project and that will bring you significant profits. P.s. for the know-it-alls who will tell you that this is a useless token since it is only a governance token, tell them that 99.99% of crypto tokens launched in 2020-2021 will ultimately be just like this token: helping to vote in the DAO and decide the future of the project!