Understanding P00LS
A short guide to understand the basics of P00LS
Last updated
A short guide to understand the basics of P00LS
Last updated
P00LS is a semi-decentralized web3 rewards protocol.
The best way to understand P00LS is to see it as a way for anyone with an audience in web3 (Creators) to automatically and simply create their own loyalty points as a fungible token and distribute them to their community (Holders).
The term Creator is used loosely and encompasses artists, content creators, influencers, brands, communities, conferences, companies, and projects—basically anyone who has a specific audience.
On the other hand, the term audience is interchangeable with community, fans, collectors, consumers, users, etc. For simplicity, we’ll use the term Holder. Creators have many ways to interact with their Holders.
Creators can create NFTs that Holders will buy, mint, and hold. Create POAPs every time they organize events. Be active on a number of web3 protocols and apps such as Zora, Sound, Audius, or Lens. All these “engagements” form what we call a Creator’s economy. This economy is represented by a Token within the P00LS protocol.
There is a bijective relationship between a Creator’s token on P00LS and their economy. One economy is represented by one token and vice versa.
Holders, much like anyone active on the internet, can have various identities. This can be multiple wallets, an ENS, a Lens handle, or profiles on the previously mentioned dApps. All those form a set of Linked Identities and are represented on P00LS by a Profile.
The P00LS protocol dynamically matches a Creator’s economy with a community of holders through the continuous and automatic distribution of a non-transferable, fungible, and Creator-specific ERC20 token.
A P00LS Creator Token is a tool at the disposal of anyone with an audience who wants to map, understand, and reward their whole web3 audience - in the past, present, and future. Composable, it can be integrated and included on any platform, webpage, or app that supports web3 (e.g., token gating). It is an evolving tool that continuously evolves with a Creator’s economy and their audience.
