🏗️Creating Your Pool
The Groundwork
Before creating your pool, be sure to read our documentation and establish a solid understanding of your pool's aims. Potential investors seek to invest in a pool that aligns well with their risk tolerance and investment goals. Before creating your pool, give careful thought to the risk level of the assets you intend to manage within the pool, as well as the sectors these assets fall under. This consideration will help you cater to the preferences of your target investors.
Deploying Your Pool On-Chain
Pools are custom smart contracts that exist on the blockchain. The first step that you will take towards creating your pool will be to create this smart contract. Once you've decided the direction you aim to take your pool, head to the pool creation page. Here you can enter all of the on-chain data relating to your pool. Since the data that is entered here will live on the blockchain, it cannot be changed. The data that you need to enter is:
The pool name
This is often the first thing potential investors see. It should reflect your pool's aim and function so the pool can attract your target audience.
The pool symbol
Pool shares are represented by pool tokens, so create a short, catchy symbol or ticker for your pool token.
The pool risk
The risk level should indicate the pool's assets and trading style. It won't limit the assets a pool can manage, but it serves as a user guide. Risk level guidelines:
Low Risk: Invests in top 100 market cap tokens.
Medium Risk: Invests in well-established, highly liquid tokens, typically within the top 500 market cap.
High Risk: Focuses on low market cap tokens not listed on major exchanges.
Very High Risk: Invests in relatively obscure tokens not found on indexing sites like Coin Market Cap or Coin Gecko.
The pool fee
Your pool fee is the percentage fee that you will earn from each deposit and withdrawal to and from your pool. This fee is applied to the amount of ETH that is deposited or the amount of ETH gained by a user from a withdrawal.
The transaction fee
As a pool owner, you can accept deposit and withdrawal orders. Transaction fees are a flat ETH amount that you will receive from each order that you process, primarily to cover gas costs. A recommended fee to cover gas costs, generate revenue, and accommodate gas price fluctuations is 0.01 ETH.
Adding Information On-Chain
Your pool page serves as the hub for investors to deposit and withdraw from your pool, as well as the initial source of information for potential investors. By adjusting off-chain settings, you can attract potential investors and aid their decision-making process regarding investment in your pool. To modify these settings, click on the gear icon located in the top right corner of your pool. Ensure you are signed in with your wallet to access this feature. On the pool settings page, you will find the following options:
Pool description
Your pool description should briefly describe the type of assets that your pool will focus on. Other than this, make sure to add some personality to your pool page and entice people to join your pool community!
Social media links
These links should direct pool members or potential investors to either announcement pages or group chats for your pool. Your personal social media can be seen on your user page, so the social media on your pool page should be only for your pool.
Sigil Finance, as a community-driven investment platform, encourages fostering a community around your pool. A pool's community not only provides a lively and engaging space to connect with others but also serves a practical purpose, contributing to your pool's expansion. Community members can represent your pool, boost its ranking in Sigil Pool Wars, and assist in marketing it to new investors. Cultivating such a community is a valuable aspect of the Sigil Finance experience!
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