PSY 2.0 - How to Setup a RewardPool
This document is in a draft state and is open for comments from the community
Reward Pools are token accounts that hold tokens that are distributed as reward to Stake Pool holders.
Let’s explore a hypothetical example - Alice is a PSY token holder and wants to distribute MSOL fees generated by PsyLend to PSY stakers.
She now needs to create an MSOL reward pool to collect all the rewards from the PsyLend protocol. To do so she will visit the Armada Psy Tokenomics UI page. Note that to put up proposals for RewardPools you will need to have the minimum amount of sPSY required under the Demux Governance configurations.
Visit the Add New RewardPool Link
Next, fill out the correct parameters for adding a new RewardPool:
Proposal Name: A name of the proposal that will appear on Realms.
Realms Pubkey: Public key of the specific realm you will be submitting a proposal for. For PSY 2.0 this would be 7XZrbDpWLEjMysbMVNmcnk7mw3HcmTUPnCzn97zJBU94
Governance: Governance public key of this proposal. For creating a stakepool this would be the PubKey of the DeMux Governance or A5ypLX5RxUayCQqWz2rxduoMwXy5EV3gRgt7rKtfeVh5.
Governance Program ID: This value will be self filled.
Council Vote Checkbox: This determines if the proposal should be voted on with Council Tokens. Generally, this will be unchecked for all proposals.
When complete, click continue.
Next add the token address for the RewardPool you want to propose and click add to proposal. In our example, Alice would want to add the MSOL token address here.
Lastly, click on Submit and sign the transactions.
Congrats now your proposal has been submitted to the DeMux Governance on Realms and will be found there.
Keep in mind that to vote you need sPSY, so make sure to go vote either yes or no and spread the word to ensure that there are enough votes for the intended proposal.
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