About IFPool
IFPool is the first node staking mining pool on CSC(CoinEx Smart Chain), which allows users to vote and stake the nodes on CSC directly through ViaWallet’s DAPP or MetaMask without professional knowledge. The staking will generate real-time benefits, which can be withdrawn at any time.
Guest
Bibo Deng, founder of IFTip, previously worked in Tencent and ViaBTC. Adhering to the concept of combining the blockchain and IM platform to realize intelligent and automatic blockchain services, he has developed products such as IFTip Bot. IFTip currently has 4000+ communities and millions of users using IFTip Bot.
AMA Recap
Q：Ifpool is the first staking pool of CSC. Why do you want to make a staking pool?
A：CSC is a smart contract chain started by coinex community. The common chain introduces the POS mechanism. Nodes staking CET tokens, and then you can get corresponding mining and gas fee rewards. But this process needs to be done on the command line. The staking to obtain income is the just need of CET users. So we decided to make ifpool the staking mine pool. Through it, you can staking directly in your wallet to obtain income. We have also obtained the official support plan of CSC.
Q: Why do you choose to build a staking pool on CSC? What are the advantages of using ifpool for staking mining?
A：We believe that there are various projects on eth, BSC, and even heco public chains. The opportunity to compete with other mature projects on these public chains is very small. It is better to focus on the construction of an emerging ecology. As an emerging smart contract chain, CSC relies on coinex with strong technical strength and has a wide international user base.
And the new public chain has just begun, which is the place for various teams with development ability. There are many user needs to meet. The staking pool is the most needed one at present. We see that it is very troublesome for users to stake, so we have developed this ore pool agreement.
Using ifpool for staking mining, on the one hand, it is convenient for operation. Users can staking directly on viawallet or browser MetaMask plugin, and it is a completely decentralized way. After the stake, the user can withdraw the income at any time. On the other hand, ifpool also introduces a mining reward and dividend mechanism. Users who stake CET can get additional IFT rewards in addition to CET. At the same time, the platform also charges a part of the handling fee. If you stake IFT, you can get the dividend of the platform income, which forms a closed loop of decentralized ore pool.
Q：Ifpool currently has many staking nodes. Why only iftip nodes display apy?
A：Due to the mining mechanism of CSC node, users outside the node can not get any benefits. However, some nodes have been established one after another to distribute rewards to staked users. After we developed ifpool, there is another way to extract it at any time.
Thus, the following three types of nodes are formed:
1.Nodes that do not distribute any profits (most nodes)
2.Nodes that distribute profits daily or weekly (e.g 🐳 And 🍓 ）
3.Nodes that can calculate and claim profits in real time (such as iftip nodes)
Because nodes other than iftip have their own unique revenue distribution rules, we only mark the iftip nodes that we can accurately calculate. However, after knowing the income methods of other nodes, you can also stake them. By clicking the name of the pool, you can go in and see their details.
Q: In addition to CET, ifpool can also staking IFT. What is the mechanism in this regard?
A：As mentioned earlier, we have introduced the mining and dividend mechanism of IFT. For all users who use ifpool for stake mining, they can get IFT reward when earning. If the IFT obtained by users is staked to the IFT pool, they can also get 80% of the platform income dividend. We hope to build ifpool into a decentralized agreement that can operate stably once the contract is deployed, with perfect incentive and self-sustaining mechanism.
Q: Is there any relevant strategy for operation promotion after ifpool goes online?
A：We see that the launch of ifpool has attracted nearly 80 million CET staked, including overseas users in Japan and India.
In terms of operation, we will focus on overseas and continuously update our progress on twitter, including making AMA in Chinese and English communities and outputting various tutorials and guides. It is very important that we will keep close cooperation with CSC community and seek more exposure in CET user community, so as to call on everyone to participate in staking and earn bonus every day.
Q: The security of defi is the top priority. Has ifpool audited the open source contract and security?
A：We attach great importance to security. After working in the industry for a long time, we have seen a lot of hacker incidents. The theft of poly network’s cross chain fund pool, which has been warmly discussed these two days, also gives us deep educational significance. There is a loophole in the contract of poly network. Hackers tampered with the administrator’s address with carefully constructed transactions, thereby transferring a large amount of funds.
CSC’s node staking also has a considerable amount of mining funds. We believe that in addition to being cautious in the development process, the contract after development should be open source and audited to prevent loopholes in some logic and code details. At present, we have opened the source code of ifpool and invited an audit institution to audit the contract. We can see the audit results in a week or two.
Q: Will the ifpool staking pool supports other tokens? Where will it develop in the future?
A：Ifpool will focus on node staking in the future. If there is staking function of other assets, it is more suitable for another project, such as lending or swap liquidity mining. Next, ifpool will introduce mobile mining and cooperate with other projects to increase the use scenarios of IFT.
For staked assets, we will introduce liquidity, that is, we will staking CET, and we will give stCET to users 1:1. This stCET can be circulated and used in other applications, such as direct transaction or secondary staking mining. That is, in addition to the benefits of staking CET, it can also obtain other liquidity benefits. This also means that our smart contract will continue to be upgraded.
