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Poolify allows DAOs to create single-asset pools for their native token, and reward members of the DAO for acting as watchers by pushing exchange prices on chain


Created At

Scaling Ethereum 2023

Project Description

Poolify enables DAOs to create single-asset pools for their native tokens, while incentivizing members to act as watchers and ensure stable exchange prices. Members of the DAO can earn rewards for acting as watchers, as they are responsible for pushing the latest exchange prices on chain. To join as a watcher, members simply provide a collateral, which adds to the liquidity of the pool.

How it's Made

In the Pool Factory contract with arbitrageurs:

  • The contract enables DAOs to register to the contract and create pools for their native token against a single asset
  • Users can swap the pair-token for any pool against the native token. The exchange price is balanced with the market prices of the token.
  • Arbitrageurs (Watchers) can join any pool index by staking a certain amount of native token of the DAO.
  • When join, they can push pricing data on-chain at the point of transaction or at any given time. They are rewarded with a percentage of the transaction fees based on their stake in the pool and their activity.

The poolify solidity contract is deployed and compiled with hardhat, and the front end is made with nextjs and ethers. Also, the exchange rate prices is gotten from the redstone finance oracle

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