Managing a Pool

Managing a pool

Once your pool is created, you will see a new button named Manage in the Pools tab.

This menu provides tools to change most of the pools settings:

Commission can be configured using three different values:

• Commission: the current commission for a pool; the owner will receive a % of the staking rewards before distributing it with the members.

• Max Commission: the maximum commission the pool can have; once set it cannot be changed. It is meant to be a contract between the pool operators and the members.

• Change Rate: the maximum amount the commission can change for the set period of time. Pool operators cannot perform changes to commissions that exceed the change rate.

When managing a pool’s commission, once Max Commission and Change Rate are set, they cannot be changed to a higher value. This is meant to prevent pool administrators from abusing their members by changing the commission without notice.

Pool Administration

Roles

• Depositor: The pool creator; it bonds the initial deposit in order to make the pool a valid nominator.

• Nominator: It has permissions to select which validators the pool nominates.

• Bouncer: It has permissions to switch between the different pool states and kick (force unbond) members.

• Root: The pool administrator, it can change the other roles (even itself) and can do any of the actions the others can.

States

• Open: new members can join the pool.

• Blocked: the pool is closed and it will not allow new members.

• Destroying: the pool is in the process of being destroyed; it acts as being blocked, but existing members can also be forced to unbond by anyone, allowing the pool to be dismantled even if it has inactive members.

Destroying a pool

Pool destruction is done by the Bouncer role. Connect with the Bouncer account and go to the pool’s Manage panel.

The initial depositor must remain in the pool until all other members have left; only then it will be able to withdraw.

Select Destroy Pool and submit the transaction to set the pool’s status to destroying. When set to Destroying a pool will be closed to new members and all members can be permissionlessly unbonded in order to ease the dismantling of the pool. The initial depositor must wait for everyone to withdraw before unlocking its own bonded tokens.