Megapool FAQ
What is Megapool?
Megapool is an AI-driven restaking optimizer launched by Pell Network, integrating artificial intelligence (AI) and multi-chain restaking mechanisms to help users maximize returns and dynamically manage risks on staked assets (such as BTC, ETH, $PELL, etc.). It offers two modes—Open (liquid staking) and Fixed (fixed-term staking)—catering to users with different risk preferences.
What is an LRT? What is its purpose?
LRT (Liquid Restaking Token) is a token credential you receive after staking assets in Megapool. For example, staking LBTC will yield rLBTC.
Purpose:
Unlock Liquidity: LRT allows you to hold liquid tokens during staking, which can be used in other DeFi scenarios (e.g., trading, lending).
Enhanced Returns: Beyond the base staking rewards, you can earn additional rewards through Pell Network and its supported DVSs (Decentralized Validation Services, such as oracles or cross-chain bridges).
Note: LRTs may offer higher returns but come with additional risks (e.g., DVS project risks). Please review the platform’s risk disclosures carefully.
What are stPELL and stPELL-28/30/60/90/180/365-Fixed NFT?
stPELL: In Open (liquid staking) mode, staking $PELL grants you stPELL, a liquid staking token that can be used in the DeFi ecosystem. Redeeming stPELL requires a 1-day cooling period.
stPELL-xx-Fixed NFT: In Fixed (fixed-term staking) mode, staking $PELL with a chosen lockup period (e.g., 30 days) generates an NFT to record your staking details.
Naming Breakdown:
stPELL: Indicates you staked $PELL and received stPELL as a liquid staking token.
28/30/60/90/180/365: Represents the lockup period in days (e.g., 30 days, 60 days, etc.).
Fixed: Indicates Fixed mode.
NFT Features:
Based on the ERC-6551 standard, it embeds metadata: staked amount, lockup start time, Fixed duration, and APR.
Transferable: During the lockup period, you can transfer the NFT to another address, allowing the recipient to hold it until the lockup ends.
Redemption and Destruction: Once the lockup period ends, the NFT holder can redeem it. Upon redemption, the NFT is destroyed, the fixed-term rewards are directly distributed to the user, and a redemption request for stPELL is initiated. The principal and Open mode rewards will appear in "Pending Withdrawals." After the Open mode cooling period, they will move to "Withdrawable," and the user can complete the withdrawal by initiating a "Withdraw" action.
What’s the difference between Open (liquid staking) and Fixed (fixed-term staking) modes?
Open (Liquid Staking):
Ideal for users who prefer liquidity.
You receive stPELL after staking, which can be redeemed at any time (with a 1-day cooling period).
Rewards are based on a fixed reward pool, distributed proportionally to stakers, displayed as an estimated annualized percentage rate (APR).
Fixed (Fixed-Term Staking):
Suitable for users seeking stable returns and willing to lock up assets.
Assets are locked for a set period, generating an NFT (e.g., stPELL-30-Fixed NFT), and can only be redeemed after the lockup period ends.
Rewards are determined by the lockup duration, and since the staked $PELL is also deposited into the Open staking pool, you can enjoy both Fixed APR and Open APR for dual returns:
Fixed 28 Days: 5% APR
Fixed 60 Days: 10% APR
Fixed 90 Days: 15% APR
Fixed 180 Days: 22% APR
Fixed 365 Days: 30% APR
What are DVSs? Why do they affect rewards?
DVSs (Decentralized Validated Services) are restaking services supported by Megapool, such as oracles and cross-chain bridges. Your staked assets may be allocated to these DVS projects to earn additional rewards. However, the performance of DVS projects (e.g., stability or risk events) can impact your rewards. Megapool uses AI to dynamically adjust allocations and mitigate risks.Using Megapool
How do I start using Megapool?
Visit the Megapool platform and connect your wallet (e.g., MetaMask).Ensure your wallet has $PELL tokens (you can purchase them on an exchange or transfer them from another address).On the “Staking $PELL” page, choose your staking mode:
Open: Liquid staking mode, ideal for users needing liquidity.
Fixed: Fixed-term staking mode, select a lockup period (e.g., 28 days, 60 days).
Enter the amount to stake (click “MAX” to select the maximum available amount).Check “I have read the rules” and click “Approve” to authorize the transaction.Once staking is complete, you’ll receive stPELL (Open mode) or an NFT (Fixed mode).
How do I view my staking and rewards?
My Open Deposit: Shows your stPELL amount and USD value in Open mode.
My Fixed Deposit: Displays your staked amount, USD value, and lockup NFT details in Fixed mode.
Pending Withdrawals: Shows $PELL amounts in the redemption process (during the cooling period).
Withdrawable: Shows $PELL amounts ready for immediate withdrawal.
How do I redeem my $PELL?
Open (Liquid Staking) Mode:
On the “Staking $PELL” page, click “Unstaking.”
Enter the amount of stPELL to redeem and confirm the transaction.
After a 1-day cooling period, your $PELL will appear in “Withdrawable.” Click to withdraw.
Fixed (Fixed-Term Staking) Mode:
Assets in Fixed mode must wait until the lockup period ends (e.g., 30 days).
Once the lockup period ends, the NFT holder (you or the recipient if the NFT was transferred) can initiate redemption.
Upon redemption, the NFT is destroyed, fixed-term rewards are directly distributed to the user, and a redemption request for stPELL is initiated. The principal and Open mode rewards will appear in “Pending Withdrawals.” After the Open mode cooling period, they will move to "Withdrawable," and the user can complete the withdrawal by initiating a “Withdraw” action.
How are my rewards calculated? Will they fluctuate?
Open (Liquid Staking) Mode:
Rewards are based on a fixed reward pool, distributed proportionally to stakers, and displayed as an estimated annualized percentage rate (APR).
Actual rewards fluctuate based on staking participation and market conditions.
Fixed (Fixed-Term Staking) Mode:
Rewards are determined by the lockup duration, with APRs ranging from 5% to 30%.
Additional rewards may come from DVSs.
Reward Fluctuations: Actual rewards may vary due to market conditions, DVS project performance, and other factors. Megapool uses AI to dynamically adjust strategies and minimize fluctuations.
Are there limits on staking amounts?
Yes, there are staking limits per address:
The current limit is 10,500,000 $PELL per address (refer to the “Limit” field).
The total pool available is 10,500,000 $PELL (refer to the “Pool Available” field). If the pool is full or you’ve reached your limit, you’ll need to wait for the pool to expand or reduce your stake.
What are the risks of staking and restaking?
Market Risk: $PELL price fluctuations may affect your asset value.
DVS Project Risk: DVS projects (e.g., oracles, cross-chain bridges) may face operational or security risks, impacting rewards.
Smart Contract Risk: Although Megapool has been audited, unknown vulnerabilities may still exist. Please review the platform’s risk disclosures carefully before participating.
Why does Fixed mode use NFTs?
In Fixed mode, your staked position is converted into an NFT (e.g., stPELL-30-Fixed NFT) based on the ERC-6551 standard, facilitating management and transfer:
The NFT records the staked amount, lockup start time, Fixed duration, and APR.
Transferable: You can transfer the NFT to another address during the lockup period, allowing the recipient to hold it until the lockup ends and redeem it.
Redemption and Destruction: Once the lockup period ends, the NFT holder can redeem it. The NFT is destroyed upon redemption, and you’ll receive your $PELL and rewards.
What happens if I forget to redeem?
Open Mode: Your stPELL remains in your wallet, and you can initiate redemption at any time (with a 1-day cooling period).
Fixed Mode: After the lockup period ends, you can redeem at any time without losing your assets, but you must actively initiate the redemption. Upon redemption, the NFT is destroyed, fixed-term rewards are distributed directly, and a redemption request for stPELL is initiated. The principal and Open mode rewards will appear in “Pending Withdrawals.” After the Open mode cooling period, they will move to “Withdrawable,” and the user can complete the withdrawal by initiating a “Withdraw” action.
What new features will Megapool introduce in the future?
Megapool plans to roll out in its second phase:
More asset pools, supporting additional tokens (e.g., BTC, ETH).
AI-powered advisory features to recommend optimal staking strategies.
Enhanced cross-chain functionality to capture growth opportunities in multi-chain ecosystems.
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