BennyFi Platform Documentation
BennyFi™ Composer
BennyFi™ Composer
  • 🎻BennyFi Composer
  • 🤿Quick Start
    • Creating Tokens
    • Creating Pools
      • 🌊Create a Simple Pool
      • Pool Creation Workflow
      • Pool Request
      • Simple Project Funding
      • What's a Pool
      • Pool Types
    • Creating Terms
      • Defining Distributions
    • Categories
    • Projects
    • Tokens
    • Account Lookup
    • System Settings
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  1. Quick Start
  2. Creating Pools

Pool Creation Workflow

Learn how a pool gets created

PreviousCreate a Simple PoolNextPool Request

Last updated 1 year ago

Workflow

The following is a very basic workflow for a pool inwhich the beneficiary is distributing a token:

  1. Beneficiary completes a Pool Request

  2. Pool Manager reviews the Pool Request

  3. Pool Manager signals acceptance of the Pool Request by creating a pool.

  4. The pool will be in a NOT FUNDED state.

  5. Beneficiary signals acceptance of the Pool by depositing project tokens into the contract.

  6. The Pools status will change to either 'OPEN' or 'NOT STARTED' depending on its start time. Once the Pool is OPEN, Participants may stake to it. The Pool will remain open until one of two conditions is met: the pool is full or the enrollment period expires.

    1. If the enrollment period expires, the pool is CANCELLED and the stake is returned to the Participants.

    2. If the pool is full, it status changes to 'CLOSED' and the staking period begins.

  7. Once the staking period ends, the pool status changes to 'UNLOCKED' and reward tokens are distributed to the Participants along with their original stake.

Pool Status

Let's go ahead and open up the Pool View from the Composers main page.

Here we can view all the pools in the system. Pools are listed by status and pool number. These status represent the life cycle of a PledgePool. Pools change status based on time and state.

NOT FUNDED - Indicates that a beneficiary has not yet funded this pool. A 'NOT STARTED' pool is scheduled to start in the future.

OPEN - Pools are available for participants to stake too and the pool has not yet reached the required number of participants.

CLOSED - Pools that have reached the required number of Participants

DRAW - Once a pool closes, it may have a random distribution configured which will require the D selection of a random number.

UNLOCKED - Once a pool completes its staking period, it unlocks and the funds are distributed.

CANCELLED - If a pool does not attract enough participants to by the end of the configured enrollment period, the pool is 'CANCELLED' and the stake is returned.

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View Pools By Status