Pool Party is a decentralized finance (DeFi) game that allows users to stake their cryptocurrency tokens in different Pools to earn rewards. Each Pool has its own annual percentage rate (APR) and lock-up period, which determines the amount of rewards that users can earn.
What kind of tokens can I stake in Pool Party?
Pool Party currently supports staking of the $PARTY token and the $PARTY-ETH LP token, which is a token that represents a share of the liquidity pool of $PARTY and $ETH.
How do I stake my tokens in Pool Party?
To stake your tokens in Pool Party, you first need to connect your cryptocurrency wallet to the game. Pool Party supports all popular wallets, including: Metamask, WalletConnect, Coinbase Wallet, Binance Wallet, and others. Then, you can navigate to the Pool you want to stake your tokens in. Once you have chosen a Pool, you can enter the amount of tokens you want to stake and confirm the transaction.
What is a lock-up period and why is it important?
A lock-up period is a period of time during which your staked tokens cannot be withdrawn from the Pool. Lock-up periods are important because they help to stabilize the Pool and prevent users from quickly entering and exiting the Pool, which can cause instability.
Can tokens be withdrawn during the lockup period?
No, tokens cannot be unstaked during the lockup period for Pools 1 and 2. However, tokens can be unstaked during any time in Pool 3, but players will forfeit their staking rewards if they unstake within 24 hours of staking.
How are rewards distributed in Pool Party?
Rewards in Pool Party are distributed in the form of rebasing. This means that player rewards are automatically added to the Pool. In practice, users do not need to claim and restake their rewards. This allows for autocompounding. The amount of rewards that you can earn depends on the APR of the Pool and the amount of tokens that you have staked in the pool.
Can I switch between pools in Pool Party?
Yes, there are two ways to switch between Pools. The first way is through Pool hopping. Players can hop their tokens from one Pool to another during the lockup period for a 1% fee. When the lockup period is over, players can hop their tokens for a 0% fee. The second way is through unstaking and staking manually. When the lockup period is over, players can unstake for a 1% fee, then stake in the other pool for another 1% fee.
What is a Cournot equilibrium and how does it apply to Pool Party?
A Cournot equilibrium is a situation in which each player in a game is choosing a strategy that is best for them, given the choices of the other players. In Pool Party, each user is trying to maximize their utility (APR) by staking their tokens in the most profitable Pool, given the choices of the other users.
What is a Nash equilibrium and how does it apply to Pool Party?
A Nash equilibrium is a situation in which no player in a game can improve their own utility by unilaterally changing their strategy. In Pool Party, a Nash equilibrium occurs when all users are staking their tokens in the most profitable Pool, given the choices of the other users.
What is the benefit of buying Favor tokens in Pool Party?
Buying Favor tokens in Pool Party allows you to increase the win rate of Pool 1 or Pool 2. However, the bonus that the Pool receives is subject to some restrictions. Notably, a Pool's win rate cannot be increased through favor beyond 75%.
Can I hold Favor tokens to use for later epochs?
Yes, players can purchase Favor in one epoch and hold the Favor for use in a later epoch.