What is a Staking Pool?

Staking pools allow creators to reward holders for locking (staking) their tokens for a definite period. After the period passes, the participant can unlock their staked tokens and receive an additional reward from the deposited rewards, based on the specified yearly interest rate and yearly interest bonus. A creator creates a staking pool with a specific yearly APY rate and an optional bonus percentage. Optionally, a minimum/maximum amount and locking time may be set. After the pool is created, the creator deposits tokens as reward payouts. Any holder of the pool token can lock and commit their tokens for a reward payout based on staking time and APY, and bonus rate. Once the staking period passes, the participant can unlock their tokens and receive their initial stake, including the interest rate as defined by the pool.