Hello, Pollo family.
The first month of Pollo’s “The 3-Month Miracle” is finally over.
(For more information on “The 3-Month Miracle”, please see the Roadmap >Roadmap)
We have been looking forward to making this big announcement on the last day of March.
Please read it again and again, and when you’re done, please let us know what you think on social media.
To start off with, the winners of the retweet campaign have been announced!
The winners of the retweet campaign, where 10 people will win a total of 10sPDO, have been confirmed.
Here are the 10 winners!
I will send you a DM from now on, please check it out.
Of course, other than the winners, there were so many great messages that it was hard to choose. If there is a positive response, we would like to do it again.
What is PoFi’s raison d’etre?
As we have repeatedly mentioned, the only ‘PoFi’ that can be harvested on Pollo Swap at the moment is the utility and governance token that underpins Pollo.
The supply stops at 500,000 and it can be used as a voting right for DAO in the future and is also useful as a pickaxe to earn PDO, sPDO in Pollo Basic Income.
Compared to many other tokens, it should not be inferior in terms of specifications.
But that’s why we should go back to the basics.
As you can see in <previous article>, sPDO can be harvested by other means (e.g. PDO-BUSD LP).
It would be somewhat of an overstatement to go so far as to say, “Why should it not be PoFi?”
I explained that the reason for keeping the whitelist snapshot private is “to prevent the PoFi price from plummeting”. On the other hand, it is also possible to have an opinion that the PoFi price after the whitelist is closed is the right price without any premium added.
It is true that no one knows whether the current price is fair or not. As an analogy, Tesla’s P/E ratio is over 800x, right?
It can be said that the price of PoFi is always a reflection of the expectations and concerns about Pollo.
If we, the PoFi issuers, can continue to exceed the expectations of the PoFi holders, there is no problem, and we will solemnly carry out “The 3-Month Miracle” so that we can continue to exceed the expectations.
But isn’t it just as “unstable” to have the PoFi price dependent on unstable emotions such as expectation and anxiety? And after “The 3-Month Miracle” is over, if Pollo and PoFi are transferred to DAO, will the expectations be reset?
Do you see what I mean? Pollo has been careful in designing PoFi, thinking ahead to the above questions.
Why do we think PoFi is so important? Again, it’s because we want to give back to the family that supports Pollo to the best of our ability.
Just as it takes the votes of voters to become a politician, and just as R&D funding is essential for basic research, Pollo cannot exist without its supporters.
And this time, the benefits of owning PoFi are all too clear. This is the “biggest trick in the history of PoFi” to make you, the supporter, feel rewarded.
PoFi holders to receive permanent share of Pollo’s fee earnings
The fee revenue generated from all Pollo services will be “distributed to PoFi holders semi-permanently”.
This is the biggest advantage for PoFi holders.
In addition, 30% of the sPDO (3,000 sPDO) received by the Community Fund, the largest fund managed by Pollo Basic Income, will be distributed to PoFi holders.
And at least until the operation is handed over to DAO, “at least 500 PoFi stakes” will be eligible for the right to receive dividends.
What does it mean to distribute earnings?
We previously mentioned that PoFi has the same power as the voting rights of DAO.
Based on that logic, one might say, “Instead of attracting people with the bait of distributing profits, shouldn’t people who agree with the idea of contributing to society be the ones to join the DAO? Some people may say that.
There is no doubt that we want people to agree with Pollo’s philosophy, but if we just ask for volunteers, the number of members will be very limited.
Dare I make an analogy with virtual currencies, but are the people who are mining BTC and ETH doing it because they love the transaction approval process?
The answer is no. Except for geeks, many people are now participating in mining because they have a financial incentive to do so. We don’t depend on people’s good intentions (trustless), but you solve problems through mechanisms.
(Let me add this so there are no misunderstandings. There are countless people in this world who act without financial incentives, and I respect them greatly. I can’t even begin to count the number of times these people have helped me.)
I’ve also mentioned before that the solution to any problem comes with the problem of funding. This is true not only for the organization, but also for the lives of the individuals on the team.
Is it because a person does not have the spirit of helping others that he or she does not volunteer? No, it is not. Volunteering is possible only when one’s life rhythm and income are stable to some extent.
The so-called low-income group has to work to make ends meet and has no time to help others.
In other words, the composition so far has been as follows.
Life is stable -> So can participate in volunteer activities
Life is unstable -> That’s why can’ t participate in volunteer activities
However, Pollo offers the following possibilities by paying out dividends to PoFi holders (i.e. DAO members)
Participate in volunteer work -> So life will be stable
Can you see that the order is reversed?
If Pollo’s new proposal pays off and the idea spreads, the world will be filled with more visible help and kindness.
I used the analogy of a volunteer, but the same could be said of an aspiring artist or even a professional gamer.
Life is unstable -> So cannot challenge the artist career. Can’t challenge a career as a professional gamer.
This can be replaced by the following
Challenge artist career, challenge professional gamer career -> so life is stable
Just as the P2P-inspired blockchain enabled trustlessness, the DeFi-inspired Pollo Basic Income could break down the barriers between workers and non-workers.
We want the Pollo family to be a witness to that history.
Access to the DAO Fund
Pollo Basic Income’s tokenomics will be released later, but we have set up a DAO fund (i.e. community fund) for 1/8 of the total 80001 sPDOs issued. For reference, this is about 67% more DAO funds than bDollar.
PoFi is the only token that can access this DAO fund.
There is an agenda behind this.
The DAO Fund is a “sanctuary”, as it is only a fund to carry out the goals and support that the DAO wants to achieve, and the DAO members’ livelihood is expected to be covered by the dividend from PoFi and the dividend from their sPDOs.
This figure clearly shows that we are placing more emphasis on social contribution than any other project at present.
When life is stable, you will want to act
If life becomes stable, won’t people be satisfied with their current situation and become lazy, leading to dysfunctional DAO? Some people may wonder.
However, the results of several experiments suggest that this may not be the case.
There was a social experiment that was conducted in the 1970’s in Canada called mincome. (*1)
One of the findings reported that the number of people who worked reduced slightly.
When looking at one side of this, it may be perceived that when people received basic income, they became lazy; however, the actual circumstances differ.
• Some people reduced work to take part in volunteer activities
• Single mothers who needed to work whether they liked it or not because of their low income spent more time with their children
• Students who worked part-time to support their living costs quit their jobs to focus on their studies
These circumstances were not reflected in the numbers that demonstrated the statistics.
Michael Howard, a scholar who is an advocate for basic income, refers to this as “welcome retirement”.
These results show that receiving basic income does not necessarily equate to people becoming lazy.
In earlier times, many of the great artists did not have fixed work.
Many of them were supported by their families and inheritances to live day-today, and they used their time to commit themselves to their creative work.
The pieces of art these people left behind have tremendously benefited the future generations. If the people around them had told them to get a stable job or that they don’t deserve to eat if they are not earning for themselves, the Louvre Museum might not exist today.
As you can see from this example, for people to be able to take part in cultural activities, leisurely time is a necessity.
This is not only for the case for artists. If there was basic income for all, it would be easier for people to think about how they can make their country a better place. That might mean that they want to take part in political activities or put their hands up to be a candidate in an election. They might be able to accompany an elderly to help them with their shopping too.
We believe that basic income is an extremely effective method in restoring peace and social order to people’s hearts.
Furthermore, people with stable lives tend to have stable mental states. (*2)
It is for those people that I would like to encourage to use the DAO Fund with free thinking. As I have said many times before, only those who are not drowning can save those who are drowning.
*1 D. Calnitsky(2016),’”More normal than welfare”: The Mincome experiment, stigma, and community experience’, Canadian Review of Sociology, 53(1), pp. 26–71.
*2 R. Akee, E. Simeonova, E. J. Costello and W. Copeland(2015), ‘How does household income affect child personality traits and behaviors?’. NBER Working Paper 21562. Cambridge, MA: National Bureau of Economic Research. http://www.nber.org/papers/w21562. E. Forget(2011), ’The town with no poverty: The health effects of a Canadian guaranteed annual income field experiment’, Canadian Public Policy, 37(3), pp.283–305. D. Calnitsky(2016), ‘“More normal than welfare”: The Mincome experiment, stigma, and community experience’, Canadian Review of Sociology, 51(1), pp. 26–71.
Don’t put all your eggs in one basket.
Some of you may be worried that you will not be able to get any revenue from the Board room during epoch contraction, especially if you have seen the price movements of the algorithmic stable coins in the past few days.
It is true that the longer during epoch contraction continues, the less the board room will function and the more the coin will stop paying dividends. Probably, there will be a movement to move assets to Shares Pool or Vaults, which generate more continuous income.
This is where PoFi comes in to play a supportive role, as PoFi holders will receive a return of earnings from the second protocol, the Shares Pool provided by Pollo Basic Income, and a return of earnings from the third protocol, Pollo Vaults.
Pollo will help you to stabilize your life with multi-layered support, and in turn, help you to engage in social activities with peace of mind.
PoFi fee revenue sharing and jackpot project!
Now, We have a great news for PoFi holders.
The PoFi fee revenue sharing system is currently under development and there is still time for implementation.
So there will be no distribution during that period? No, you won’t!
The earnings that continue to accumulate from the opening of Pollo Basic Income’s Shares Pool are also eligible for distribution.
Once the distribution system is completed, all the distributions accumulated during the period will be distributed at once.
It is truly a “jackpot of revenue sharing” !
After the jackpot is released, you can continue to receive profit sharing by holding PoFi, but this is the only time we will release the jackpot. Don’t miss this opportunity.
And I’m sorry, but we don’t announce the release date of jackpots.
After all, it is a jackpot, and when it is distributed, it will be out all at once without notice.
Please consider holding on to at least 500 tokens of PoFi until that day. Of course, the amount of money distributed will increase proportionally with the number of copies held.
If you have 1000 tokens, you will get twice the jackpot as someone with 500 tokens.
Only those who pass the whitelist will receive the jackpot!
Oh, yes, we will take several snapshots to make sure that we keep HODLing more than 500 PoFi.
The first snapshot will be the same as the whitelist snapshot.
And the first jackpot snapshot (i.e. the whitelist snapshot) can only be passed by those who have more than 500 PoFi.
In other words, if you have 500 PoFi or more at the time of reading this article, and you have completed your whitelist application, you have both the right to whitelist and the right to the jackpot. Congratulations!
If you have not yet applied for the whitelist, please do so, even though there is not much time left.
If you don’t have more than 500 PoFi, please take this opportunity to collect PoFi and apply for the whitelist, even though there is not much time left. This is a genuine last chance!
If you haven’t applied for the whitelist, you won’t receive the jackpot.
How was the big announcement on the last day of March?
The first month of the “The 3-Month Miracle” is finally over and Pollo Basic Income will finally start its operations in April.
I know that there are a lot of concerns about the market, but none of us in the Pollo Team are pessimistic.
Of course, we are well aware that the future of the program cannot be realized without the benefits of the participants, so we will take all necessary measures without blaming the market.
We have never betrayed the expectations of those who have been following us since the beginning in March, and we are now steadily climbing the stairs to success.
We are a family. Even though we live in different countries, speak different languages, have different lifestyles, and have different religious beliefs, as long as you are involved with us, we are your family. Even if we are not related by blood, the blockchain proves our connection.
Now, let’s move forward together to the second month of “The 3-Month Miracle”.