Still lots to design for this such as a cms for Data Unions so they can populate their pages. The buyer’s lounge needs completing, login needs expanding, plus other features. It would also be great to move all the next phase of design over to Figma which will require time to set up all the components and learn best practice ways of creating a robust design system.
Introducing the Pool Token
Self-sovereign data is blockchain’s next killer app, unlocking the $4 trillion in equity market cap tied up in companies built on siloed information.
Pool's ecosystem of data unions are harnessing the power of the Web3 data economy; transforming users into members, so they can control, share and earn from their data.
Launching in Q3 2022, Pool's ERC-20 token will be backed by the support of dozens of data unions and hundreds of thousands of their members worldwide.
Pool's token has wide use across the platform: staking to activate discounts for Data Union Operators, facilitating governance, creating an engaged community and maintaining high standards on our data marketplace.
Pool has assembled one of the strongest multi-discipline teams in Web3, from technology through to business, governance and crypto. Click here to discover more about the people behind the project
Publish white paper and technical white paper
Build core team (CGO, COO, CDO, CTO, CMO etc) and set up legal entities
Build brand and publish comprehensive website
Raise Friends & Family and Seed round funding ($3.7m in total)
Product planning, research and design for Marketplace + Pocket
Partner with 3 data unions and 1 major data buyer
Establish strong company culture, publish employee handbook and implement 4 day week
Kick off- catalyst programme to onboard data union operators + build data buyer contacts
Data Marketplace v1 + v1.5 released
E2E payment rails: from fiat data product purchase to smart contract distribution to DU members and operators
Beta release of consumer facing mobile app (Pocket) for data union discovery
Basic Data Governance and Security policies
Pool Marketplace v2 with extra data buyer features including full whitelisting and KYC process for buyers
Pocket v1 public release to include decentralised data vault + smart contract wallet
Full data governance, privacy ethics and security (GoPES) policy implemented
Catalyst supports at least a dozen ‘core’ data unions covering major data vertices including clickstream, finance, wellbeing and mobility
Marketing of Pocket to coincide with DMA EU wide-data portability event
Further improvement of Marketplace and major data buyer outreach campaign
First release of Pool analytics platform
Kick-off programme to leverage Pocket PDV as a replacement for the 3rd party cookie
By enabling the creation of new, high quality and fairly sourced data streams, Pool will earn a 5% cut from the inflow of tens and eventually hundreds of millions of dollars in new products and queries to our raw data layer.
Pool is structured as a foundation with no equity shareholders, so this revenue will be directed back towards growth of the overall ecosystem.
Revenue generated within the Pool ecosystem is managed through our smart contracts, even if other mechanisms or marketplaces are used to pay for data products and distributed among the community as shown below:
Pool’s percentage cut is included in the smart contract for each Data Union Operator (DUO), so even if other mechanisms or marketplaces are used to pay for DUO products, Pool’s cut will be embedded into the system that also pays Data Union Members.
We will also write these terms into our software licenses and access to our products such as the Unitary Wallet and Marketplace and also tie in DUOs to these terms via the grant system.
Pool’s token sits at the heart of our platform and products, enabling network discounts for data unions, facilitating governance and ensuring product reputations.
Our highly simple, deflationary, tokenomics model ensures scarcity over time; everytime there are buyer payments on the marketplace, the backend smart contract will automatically burn Pool’s tokens. It’s the same model that powers the success of $BNB and $ETH. The more utility there is, the rarer, Pool tokens become until only 50% of them are left.
Key uses are as follows:
Tokens can be staked by Data Union Operators (DUO) for discounts on the platform charge fee (5%). The more a DUO stakes in their own product smart contract, the lower the platform fee until it reaches a floor level.
When users buy data products, our smart contract deducts a 2% “token” or “community” fee from the overall spend. We will automatically “burn” tokens via decentralised exchanges, giving Pool the dynamics of a “discount token”, where fundamental value grows as utility on the platform increases.
At first Pool’s foundation will govern a protocol affecting dozens of DUOs with ultimately millions of members. We will progressively democratise protocol decisions on technology, business logic and even Pool’s fee. DUOs will be able to vote on these outcomes by staking their tokens.
To maintain high standards and delivery DUOs will need to stake our tokens within their product’s smart contract. This stake acts like an Escrow against poor performance, so the more a DUO stakes, details of which will be displayed to buyers, the more their product is likely to be viewed by buyers as trustworthy.
Pool completed an oversubscribed private investors and seed round in 2021, raising a total of $3.7 million to gather a multi-discipline team, build proof-of-concept for our core tech and incubate our first cohort of data unions. With the upcoming token sale, we will be opening a public fundraising round from a fixed total supply of 100,000,000 tokens.
These new funds will be used to complete development of our data marketplace, wallet and payment rails so we are ready to invest in and scale the first dozen data unions to drive the growth of our new data ecosystem. For the first time, data union members and public investors can join in at the ground level for what we and others are now calling The Dataverse.
Further reading to learn more about the pool ecosystem, our infrastructure and roadmap for the future.