Creating a Pool
Users who want to actively contribute to Creditcoin’s security, but do not have the means to run a validator node themselves, can instead opt to set up their own nomination pool.
Nomination pools act as a single nominator, and as such, do not require any dedicated hardware.
By setting up a nomination pool, pool operators can actively contribute to the network’s security by organising and managing members' nomination activities. In addition, pool operators can earn a % commission fee of the pool’s total staking rewards in return for their nomination activities.
As pool operators are responsible for managing members' funds, it is important that they are active in the nomination process and have a deep understanding of Creditcoin’s consensus mechanisms. For more information on how these work, please read the staking documentation here. Please note that the current settings on Creditcoin Testnet are set to have a minimum required of 19500 CTC to create a pool.
How to create a pool
In the Staking Dashboard’s Pool tab, click on the Create button.
Name your pool.
Manually pick the validators you wish to nominate or use one of the provided nomination selection tools.
Assign the pool roles to your chosen accounts. Click on Edit to set the Root, Nominator and Bouncer roles. We recommend setting multiple different accounts for maximum security. Click on Save before continuing.
Enter the amount of CTC you wish to bond yourself.
Review your settings and preferences.
Click on Create Pool and sign the transaction.
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