Instructions for creating a Community Pool, Staking, and Unstaking
How to for Stake, Unstake, and Claim Rewards
Last updated
How to for Stake, Unstake, and Claim Rewards
Last updated
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.
