The interesting aspect about PoolTogether, is that the more capital that we manage to attract, the more attractive it will be for people to deposit. Therefore, it’s important that we try to attract as much capital as possible. To achieve this, we need a big headline prize (which should be very unlikely for somebody to get), and the possibility to add multiple assets so that we can take advantage of all kind of depositors.
We already know that prize savings accounts are a success in real life. Therefore, when I wonder what’s stopping PoolTogether to achieve higher growth, I try to look for the differences in the already successful companies/governments that are doing “no-loss lotteries” and PoolTogether.
The biggest difference that I see which has a big impact when attracting people, is the prize structure (I recommend watching this video on Yotta: https://www.youtube.com/watch?v=FDvkEbLu_pM). More precisely, we are missing a huge headline prize. This has already been discussed before with DPR, but has not been implemented yet. As you could see in the video, Yotta offers a 10 million prize (which is highly unlikely to get), and afterwards a Tesla, and a 5K prize. As you may notice, the difference between the first prize and the rest is huge. This is because the idea of this super big prize is so attractive to people, even if it may not happen for a year.
Yotta prize structure also has multiple low tier prizes that help keep people engaged. This is also necessary, but we have a problem when doing this on-chain, gas fees. To cover for this problem, I would suggest to have POOL drip instead of multiple small prizes that would be pretty much unclaimable.
Given that the TVL of PoolTogether is relatively low, I would suggest to change the prize distribution frequency from daily to weekly. The extra time from draw to draw would allow us to have a bigger headline prize.
If we want to differentiate the value proposition of PoolTogether from other protocols, the way to do so is by stop being another yield farming protocol, and begin offering life changing prizes (even if they're highly unlikely).
Finally, related to the idea of growing PoolTogether TVL, it's about time that we eliminate the prize cap to attract whales, which will be the key to help us achieve our end goal.
