FAQ
Last updated
Last updated
Tutorials
PledgePool is a blockchain-based application designed to enable users to pool their staked crypto assets and donate or allocate the generated staking yield to specific projects or causes. It connects the power of staking with fundraising, making it a win-win for both donors and beneficiaries.
BennyFi is a decentralized, blockchain, smart contract that PledgePool is built on. Any Pool Manager can access the BennyFI Composer to create new pools. Those pools are accessed through the PledgePool UI.
Do I need a blockchchain wallet to use PledgePool?
The BENY token is used to pay usage fees and for level up staking on BennyFi. Users pay usage fees to process transactions. Users stake BENY to level up to a Beneficiary or Pool Manager. Leveling up grants the user access to more functionality. Staking is refundable, usage fees are not.
BENY tokens are associated with the BennyFi ecosystem. They might be distributed through participation in staking pools, as rewards for specific actions on the platform, or via token sales. Check the platform’s official channels or documentation for details on obtaining BENY tokens.
With PledgePool, you can:
Donate Staking Yield: Allocate the yield generated from your staked tokens to support specific projects or causes.
Raise Funds: Create a pool for your project and encourage others to pledge their yield toward your initiative.
Participate as a Pool Manager: Create and oversee custom staking pools.
Earn Rewards: Depending on the structure of the pool, contributors may receive incentives
PledgePool addresses the challenge of raising funds without requiring individuals to give up their principal assets. By using staking yield as the mechanism for donations or funding, it provides a sustainable and decentralized way to support projects while keeping the contributors' principal assets intact.
PledgePool operates as a decentralized application (dApp) built on blockchain technology, meaning its governance and control are distributed among its users. Pool Managers are the voting members of BennyFi DAO. Pool Managers vote on system settings and the DAO's annual budget. Any one can make a proposal to the DAO for consideration.
A Pool Manager is an individual or entity responsible for creating and managing a pool within PledgePool. This includes:
Defining pool terms (duration, staking requirements, beneficiaries, etc.).
Creating pools
Managing the pool to completion.
Overseeing the pool’s operation to ensure compliance with its Terms of Service.
To become a Pool Manager:
Visit the PledgePool platform.
Register
Open your User Profile
Click on 'Level Up to Pool Manager"
Watch a short video on how to level up to Pool Manager
To raise funds with PledgePool:
Register as a PledgePool User
Level Up to Beneficiary
Create a project
Create a token (optional)
Create a Pool Application
Select the pools you like and fund them
Promote your Pool
Watch a video on how to level up to Pool Manager
A Beneficiary in PledgePool is the individual, organization, or project that receives the staking yield generated by a pool. Beneficiaries typically represent causes, charities, or ventures seeking funding.
To become a Beneficiary:
Register
Level up to a Beneficiary
What is the relatioinship between a Beneficiary and a Pool Manager
Only Pool Managers can create pools.
Only Beneficiaries can create projects.
A Beneficiary creates a project and then creates a Pool Application to have pools created for that project.
A Pool Manager accepts the Beneficiary's pool application by creating a pool that meets the Beneficiaries proposed terms.
The Beneficiary accepts the Pool Managers terms by funding the pool with project tokens.
It is the job of the Pool Manager to make sure the Beneficiary follow the Terms of Service
Yes. PledgePool supports the Anchor and MetaKeep wallets {Metamask in development}. The Anchor wallet can be downloaded here . Metakeep allows you to use either social credentials like Google ID or email address to create and access a wallet. Select the 'CONNECT WITH EMAIL' or 'Connect with Google' and follow the instructions to setup a wallet. In general, we consider the Anchor wallet is more secure, but Metakeep is easier to setup and use.
