BennyFi™ Documentation
"Finance that benefits you!"
Last updated
"Finance that benefits you!"
Last updated
BennyFi is a composable, decentralized “Pooling as a Service (PAAS)” platform that allows anyone with the required amount and type of tokens to create, execute or participate in a token staking pool. A BennyFi pool is a simple, composable structure that aggregates, creates, and distributes value. Pools an be accessed via customized UI clients or embedded directly in other applications.
To create a BennyFi pool, a Pool Manager must configure three things: Reward Source, Staking, and Payout. The platform currently supports the following configuration options in each of these components.
Reward Source , defines the source of yield/rewards. Reward Sources can be provided by blockchain staking rewards, a Beneficiary, a Pool Manager or any combination thereof.
Staking terms, define the type, amount, and duration that tokens must be staked to fulfill the pools terms.
Payout, defines the distribution of yield/reward tokens for each pool. In other words, who gets what.
BennyFi pools use staking rewards rather than the principal itself to fund pools, meaning that the principal is staked and the resulting rewards are used to fund the pools. At the end of the staking period, the principal is returned to the Participant and the staking rewards are distributed per the payout configuration.
Rewards Source
Manager Funded -The Pool Managers provides the funding for the reward pool.
Staking Reward — A blockchain provides the source of funding through staking rewards
Real World Assets (RWA) — Reward is funded from the yield on RWA, real world assets like tier 1 government bonds.
Defi (TBD) — The reward is funded by the return from DEFI.
Collateralized Loan (TBD ) — Reward is funded through fully collateralized token loans.
Fractional Ownership (TBD) — Reward is funded through asset rental.
Data Rental (TBD) — The Reward is funded by data revenue.
Staking
Duration (required) — The length of time in which tokens are staked.
Number of Participants (required) — The exact number of Participants needed to start the pool.
Staking Token (required) — The type of token the pool accepts for staking.
Staking Amount (required) — The amount each participant needs to stake.
Entry Token (required) — Token required to enter the pool. The system currently only supports BENY as an entry token.
Entry Fee (required) — The fee in BENY tokens that must be paid to execute the pool. (See Entry Fee Pricer section for more details)
Enrollment Time Out (required) — The time by which the pool must be filled with participants, or it will be cancelled.
Payout
Reward Token (required) — The type of token(s) the pool distributes.
Project Reward Token (optional) — A token that the Beneficiary stakes as a reward.
Project Reward NFT (optional) — The reward NFT that the project distributes.
Minimum Payout Distribution (required) — Refers to the minimum percentage of the staking reward that will be distributed to each participant. For example, if the pool generates 100 tokens, a 10% minimum payout would result in 10 tokens being divided evenly amongst all participants. The remainder is paid out as per the pool terms. Yield pools must return a minimum distribution to all participants. The Minimum Payout Distribution is controlled by the MIN_ALL_PARTICIPANTS_PERC system variable.
Beneficiary Payout (optional) — The Beneficiary’s portion of the staking reward distribution.
Pool Manager Commission (optional) — The Pool Manager receives a percentage of the staking rewards for closing the pool.
Pool Manager Project Token Commission (optional) — The Pool Manager receives a percentage of the Project Reward Tokens for closing the pool.
Vesting Schedule (optional) — A time-based release schedule for reward tokens.
Multiple Winners (optional) — The number of winners and what percentage of the reward pool they are entitled.
For a more detailed technical description of BennyFi’s distribution model configuration, please see
BennyFi has successfully launched in the Marketing sector and as of Q3 2023 has completed over 1427 pools and 4097 users who were unbanked and new to blockchain. Our social funding, PledgePool, is launching as of this writing. The Gaming sector is in the planning stages. We are actively looking for partners in the traditional finance sector interested in streamlining their issuance process. It is important to note that BennyFi does not create, manage, or execute pools. Pools are created and executed by our Pool Managers per the Terms of Service of the platform.
