Pool-Maxi

Inspiration

Just like in traditional finance, derivatives volumes are meant to take over the spot exchange value. Unlike in traditional world, in order to remove trust on middlemen, we need liquidity providers and an incentive model to ensure they provide liquidity.

In the current design of derivative exchanges, we provide them a chunk of the fees incurred which they can claim through their Liquidity Provider Tokens. These practices result in a very-high APR for these LP tokens like ( GLP, QLP ). Historical data shows >21% APR A gamified no-loss lottery protocol primitive should definitely exist with high APRs. ( If someone has to do it, we'll do it )

What it does

Built using Chainlink VRF and Chainlink Automation, Pool-Maxi is a Pool Together inspired lottery game that offers participants a unique and financially significant opportunity. Yield source being based on the high-APR proven sources like the LP tokens of GMX, QuickPerps, etc. it's way way better than the rewards PoolTogether provides.

Users deposit their LP tokens (QLP,GLP) to the contract. The contract collects the collective reward amount on behalf of all the users. Chainlink provides onchain randomness and automation function calling contract uses this to set the winner. After the contest gets over, every user is able to withdraw the amount of LP tokens it deposited earlier. The winner gets to take away all of the rewards being collected by all the tokens.