January 21, 2021
SKALE + Pool-Party.club
We are excited to announce that Pool-Party.club will be deploying to SKALE. This is an amazing project and a phenomenal use case as it combines the best elements of DeFi (decentralized finance) and DAOs (decentralized autonomous organizations). Right now, there are already Pool-Parties for staking ETH2 nodes, investing in expensive NFTs, and DeFi investment clubs.
Pool-Party brings DeFi and DAOs together in a single platform letting friends pool crypto in a way that earns them yield, while they save up to make an investment or investments. Pool-Party’s platform combines the power of decentralized autonomous organizations and decentralized finance. Essentially, they’re giving people a way to save up together for an investment in a trustless, safe way all while earning yield and avoiding the opportunity cost of letting crypto funds sit idly by.
Pool-Party’s target audience is crypto holders looking to pool funds to invest in a particular project or accomplish a particular goal that they could not on their own. They’re looking for people who aren't ready to jump head on into DeFi or DAOs, but see the advantage of using them to make joint investments in ideas, projects, or tokens they care about. Their core project team also brings deep crypto expertise from well known projects in the space, not to mention significant legal and management expertise.
Pool-Party was looking for a well developed layer 2 solution to make using Pool-Parties more affordable for communities that wanted to pool relatively small amounts of crypto from lots of people. Gas prices on mainnet make it so that participating in a Pool-Party only makes sense if you're contributing $250+ and their goal is to get that number down to $50. SKALE will provide much needed gas savings with zero fee transactions/smart contracts, with features to make user onboarding to SKALE pretty simple. Additionally, there’s seamless interoperability with the Ethereum mainnet using SKALE’s Interchain Messaging.
What SKALE features are Pool-Party utilizing?
The most important SKALE features for Pool-Party are the ERC20 bridge and the arbitrary message bridge.
What Pool-Party is saying about SKALE
“We chose Skale because they seemed to have the best layer 2 solution for a Dapp that needs to talk to Ethereum mainnet DeFi projects, while also keeping costs low for users. The fact that Skale is doing such a great job of supporting Dapp developers certainly didn't hurt either. - Bill Warren, CEO Peeps Democracy, co-creator of Pool-Party.