NeuronPool: Stake your ICP, join the pool and win big rewards!

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Hi all,

Today I wanted to introduce https://neuronpool.com/ on the forums. A new project I have been working on for some time.

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FAQs

What is NeuronPool?

NeuronPool is a web3 application built and running on the Internet Computer Protocol (ICP) blockchain. Users can pool their ICP tokens, which is staked in a neuron on the Network Nervous System (NNS). The staking rewards from this neuron are disbursed to one lucky winner every 14 days. Instead of small incremental rewards, users have a chance to win big.

How does NeuronPool work?

The NeuronPool smart contract (canister) controls an NNS neuron that votes on governance proposals and earns staking rewards. Users can add to the stake of this neuron. The canister checks for new staking rewards every 14 days, selects a winner using a weighted selection algorithm (the higher your stake, the higher your chances of winning), and disburses the reward to them.

Why stake with NeuronPool?

Staking small amounts of ICP typically results in a low APR, making it less appealing. NeuronPool offers an opportunity to earn significant rewards with a stake as low as 0.1 ICP. Instead of receiving small, incremental rewards, users have a chance to win the staking rewards from a large pool. NeuronPool provides a new option for users who wish to stake and earn rewards, especially those with small amounts of ICP.

Where do the rewards come from?

The NeuronPool smart contract controls a neuron on the Network Nervous System (NNS). This neuron votes on governance proposals and earns ICP rewards for doing so. The ICP rewards come from the NNS / the ICP network.

Developing NeuronPool

I thought of the idea for NeuronPool a while back as I wanted to build something that could bring value to Stakers with low amounts of ICP - NeuronPool is not supported by any VC funding or Dfinity grants and is meant to be a public good. I wanted to help push ICP / Motoko DeFi forward so I decided to build this open-source under MIT. I created a Motoko package to help with managing and staking neurons in canisters (Mops • Motoko Package Manager) and I used it to help build NeuronPool. The main NeuronPool smart contract is also open-source at GitHub - neuronpool-technologies/neuronpool: Repository for the NeuronPool service smart contract.

Feedback welcome

If you got this far and you have any questions or feedback, let me know! I’ll pop some links here for people to learn more:

NeuronPool: https://neuronpool.com/

Stake with NeuronPool: https://stake.neuronpool.com/

X profile: x.com

GitHub: NeuronPool Technologies · GitHub

OpenChat community: OpenChat

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Love the concept behind NeuronPool, and it’s great to see more options for ICP staking! I’m definitely interested, but right now I’m allocating most of my funds to liquid staking platforms like WaterNeuron. Their flexible staking options and focus on providing liquidity for ICP DeFi projects are very appealing. I’ll keep an eye on NeuronPool though, and might consider it in the future when my ICP holdings grow.

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Thank you! I’m not sure I’ve seen any projects hand over control to the NNS, maybe you mean an SNS?

Thank you for the kind words! Glad you like the idea. I understand there is a few options now with the liquid staking etc - everything has it’s pros and cons. NeuronPool is a new staking option that can hopefully bring some value to users, particularly those who want to stake small amounts of ICP for long periods.

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@dfxjesse I see that you did not submit https://dashboard.internetcomputer.org/proposal/131671 yourself, can you please share whether you’re supportive of this proposal?

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Hi, that’s right it was submitted by @krzysztofzelazko and he informed me in the OpenChat community after it was submitted. I had plans to make it a named-neuron eventually as I think it adds to the transparency around the dApp and since everything in the proposal looks correct, I endorse it.

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