In my Denver Cryptocurrency meetup, I got an idea for a new kind of pool based on Proof of Stake coins. I have no idea if this exists or not, but I think that it would be awesome to implement. If you know how to make pools, I would love to see this made and help seed the stake.
The idea is to use mining + stake to create a compound investment vehicle as a group. The way this would work is like this:
The pool owner would seed the stake balance of the pool
Miners would mine as a pool.
The interesting part comes in when the miners get paid. In their settings, they can choose to be cashed out immediately and pay a pool fee of 1%. This pool fee goes into the pool owner’s stake balance.
If miners choose to stake 75% or more of the coins they mine, then they can cash those coins out after 30 days of staking for no fee.
The even more interesting part of this is that the entire stake reward will be split among the miners who have staked their coins based on the weighted percent of their coins to the entire stake of coins put into the balance by other users.
- 5% of the total stake reward goes into the pool’s stake balance and is owned by the pool owners
- 95% of the total stake reward pays out based on stake percent of the miners, the miners can do with this reward what they want (withdraw, hold, or stake)
If there are 10 users in the pool, including the pool owners, who all have staked 100 coins each, this means there are 1000 coins in the stake balance, and the stake reward is 1/100 per day. Then, 10 coins are paid out from the staked coins.
.5 coins go into the pool owner’s stake balance
9.5 coins get split among the 10 users based on their ownership in the stake, at .95 each
Miners can withdraw their coins, whether the coins are sitting in their balance or staked, at any time. If they pull out of the stake balance before the 30 days, then they pay days-remaining/30 * fee for each coin that is pulled out – the coins are FIFO for withdraws from the stake.
This essentially creates an endowment for the pool, makes the pool owners invested in the success of the pool moreso than just from mining rewards. Everything can be kept track of, so anyone can pull out at any time.
- The staked coins are in a wallet and staked by the owners of the site
- Mining rewards can change
- The value of coins can change
These risks above can likely be mitigated in various ways to make it safer for the user, outside of the pool insuring the coins and guaranteeing a payout/withdraw at any time.