Staking Dashboard: How to Create a Nomination Pool Print
Modified on: Thu, 1 Dec, 2022 at 2:30 PM
Start your staking journey or explore more information about staking on Polkadot's Home Page. Discover this new Staking Dashboard that makes staking much easier and check our extensive article list in the Overview article to help you get started.
This article explains how to create a pool using the Staking Dashboard. If you'd like to learn how to join an already existing pool, check out these instructions instead.
When creating a pool, you can set the administrative roles and make an initial deposit to the pool. An account can only be a member of one pool at a time.
IMPORTANT: Creating pools is considered an advanced topic. Only create a pool if you plan to attract nominators and are aware of the limitations.How to Create a Pool
1. Click Create Pool.
2. Give your pool a name, and select Continue.
3. Choose the amount for the initial deposit and click Continue.
4. Choose your nominations (up to 16). You can use the built-in feature to automatically choose the validators or select them from your favorites. Whoever holds the Nominator role can change these in the future. Select Continue.
5. Edit your Nominator and State Toggler roles if desired. Click Continue.
6. Review your selections to make sure everything is correct. If not, you can use the Update button to change it. Once confirmed, select Create Pool.
Once the transaction is complete, the Overview tab will display your role.
NOTE: See this wiki article for a detailed overview of roles and limitations.Destroying a Pool
IMPORTANT: As the initial pool member, your deposit must remain as long as the pool exists. Only after all other members have left will you be able to withdraw from the pool.
1. To destroy the pool, click the Manage button:
2. Choose the Destroy Pool option.
3. Note the transaction fees, and click Submit.
Did you find it helpful? Yes No
Send feedbackDisclaimer: We always strive to provide you with the best support we can and we take all care to ensure that our instructions are accurate and concise. However, following these instructions properly, as well as the general management of your accounts and funds, is ultimately your responsibility. Web3 Foundation cannot be held liable for any accidental loss of funds or any other damage you might incur.
