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Instructions for creating a Community Pool, Staking, and Unstaking
How to for Stake, Unstake, and Claim Rewards
Step 1: Head to Rare.xyz and connect your wallet.
Step 2: Use the search bar to find existing Community Pools. You can search by ENS addresses or Ethereum usernames (tip: you can easily grab ETH addresses from SuperRare profiles)
Step 3: If a Community Pool for this person doesn't already exist, you can start a new one by entering their address on the right. You will receive a notification in your wallet asking you to confirm the deployment of this Pool. Community Pools are essentially just smart contracts and it will take a small amount of gas to deploy it.
Note: On your first time deploying a pool, you will need to also approve the market place interaction. This is a separate transaction from deploying a pool.
Step 4: Once you start a new pool, it will appear on "Your Curated Lists".
As a reward for deploying the Community Pool for this address, you get 1 xRARE to symbolize your credit for initiating the pool, so you’ll technically have 100% of the pool – for now.
Deploying a pool does not technically mean you’ve staked any RARE in the pool. Read on for steps on Curation Staking!
Step 1: Click on an existing pool from the Community Pools list, or from your own Curated List. Once you are on the Community Pool page for the person you wish to stake on, enter an amount of RARE you'd like to stake. You will need to sign a transaction in your wallet to do so.
Step 2: If you wish to stake more in this Community Pool, repeat the above step. Adding additional RARE will add to the amount you've previously already staked.
Tip: You'll notice that each amount of RARE you stake, you'll be given an estimation of xRARE. This is synthetic RARE that constitutes your place in the pool. While it's not technically a currency you hold in your wallet, you can view how much xRARE you've allotted on Etherscan.
To unstake, simply enter the amount of RARE you wish to remove from the pool in terms of xRARE. With xRARE being symbolic of your position in the pool, you can think of unstaking as forfeiting that allotment of your place in the pool.
You can unstake an amount of RARE but still be eligible to claim awards you were already entitled to. However, unstaking all of your RARE will forfeit you ability to claim any rewards.
Community Pools accrue rewards whenever the Artist or Collector who is staked on makes a sale on SuperRare, or when a direct contribution is sent to the Community Pool (more on this below in What Are Reward Swaps).
Rewards accrue per fixed periods of time known as Rounds. Rounds are periods of time used to track xRARE ownership and the accumulation of rewards in a pool.
If someone you've staked on has Rewards available, you can claim them from their Community Pool page. You can claim Rewards from multiple Rounds at once, all in one claim transaction.
Rewards are claimable payouts that are issued to stakers in a Community Pool as compensation for their support of the person they staked, and for the valuable curation data they generate in doing so. Rewards are claimable in RARE, the native token of RARE Protocol.
Your Reward payout is calculated based on your "position" in the pool per round, aka your amount of ownership of the pool per measured interval of time. Your position is calculated using xRARE, which helps to track your ownership of a pool as it evolves.
The amount of RARE you’re entitled to in each Reward Round is proportional to your ownership of the pool, measured in xRARE. xRARE, known as synthetic RARE, is a credit you are issued whenever you stake, and serves as a placeholder that symbolizes your portion of the pool.
xRARE is not a currency you need to worry about protecting – while your ownership of xRARE is tracked on the blockchain, it is not a currency that lives in your wallet or is tradeable on any markets. Its only utility is to measure your position in a pool, or in other words, the amount of the pool you are entitled to.
Reward Swaps are transactions performed through specialized smart contracts called Reward Accumulators. You can effectively tip an entire community of stakers on a Community Pool by sending funds to the Reward Accumulator address. This makes the pool grow larger and incentivizes more staking activity!
Reward Swaps allow you to convert non-RARE currencies (such as ETH or ERC-20 tokens) owned by the accumulator into RARE tokens. You can initiate a Reward Swap by specifying the contract address of the currency they want to receive, the minimum amount they are willing to receive, and the amount of RARE they provide