Create a Staking Pool
Last updated
Last updated
Follow these steps to create a staking pool for your token.
In the side menu click on Staking > Create Pool.
Verify the tokens contracts and configure your pool parameters.
In the configuration of your staking pool, you must set up two tokens. The first one (Stake Token) is the token users will lock within the pool, and the second one (Reward Token) is the token they will receive as a reward. The token in both cases can be the same, but if the reward token is different, make sure both have the same number of decimals.
In the "Slots" field, you should set the initial number of available slots in the pool. Slots are the minimum staking units that group a certain amount of tokens. This value can be expanded later.
In the "Max Number of Slots per Staker" field, define the maximum number of slots for each wallet that wishes to stake. This value can be expanded later.
In the "Quantity of Stake Token per Slot" field, enter the amount of Stake Tokens corresponding to 1 slot.
In the "Quantity of Reward Token per Slot" field, specify the amount of Reward Tokens granted for 1 used slot.
In the "Token Lock Duration in Days" field, set the time period a user must stake to receive their rewards.
To make it simpler, let's consider an example:
Suppose I create a staking pool where users stake with one token and receive rewards in the same token.
I set the initial number of slots to 100, the maximum slots per wallet to 10, each slot's value to 200 tokens, and rewards per slot to 10 tokens. The staking period to claim rewards is 30 days.
With these values, the approximate Annual Percentage Yield (APY) is calculated to be 60.83%, and I need to inject a total of 1000 tokens for the rewards.
When a user decides to use my pool to earn rewards, they can stake a minimum of 200 tokens, increasing their position in increments of 200 tokens (the value of Stake Token for each slot), up to a maximum of 2000 tokens (max 10 slots). For instance, if a user stakes 2000 tokens, they must wait for 30 days to claim their rewards. After this period, the user will claim a reward of 100 tokens (Reward Token value * number of slots).
Once the user has used the slots, in this case, there would be 90 slots available (which I can expand from the administration panel if needed).
Once we have filled out the fields, we can click on the "Check" button.
It will display the approximate APY (Annual Percentage Yield) calculation, the amount of Reward Tokens to be sent to the pool, and the cost of generating the pool.
Before proceeding, if the tokens has any type of fee or rewards, you must exclude the Staking contract to avoid any errors. Rebase tokens are not supported in this Staking system.
Exclude Fees, Dividends, Max TX
Approve Reward Tokens and create the pool.
If you want to modify the parameters, you can click on "Modify values," and if everything is correct, you can click on "Approve tokens and create." You will be asked to approve the use of the specified amount of Reward Tokens and then to approve the creation of the pool.
Once successfully created, you can go to the pool by clicking the "Go to created pool" button.
