Frequently Asked Questions
- What is DAOPool? And why did MonkeDAO create it?
MonkeDAO was the first DAO to launch a validator on Solana. After experiencing the pains of launching a validator and successfully getting it to break-even, we knew that we had to help others embarking upon this journey. One of the biggest pains is how to achieve a large enough stake amount so that the costs of running the validator are covered by the revenue it generates. DAOPool is our answer to this problem.
DAOPool is a Solana community staking pool. All of the SOL staked in DAOPool is distributed to the Solana communities’ validators. The goal is to further decentralize the network while supporting DAOs across the Solana ecosystem.
- Can I get my SOL back whenever I want?
Yes. You can withdraw your SOL at any time. Deposits will reflect in your wallet immediately after request.
- How can I get my validator added to DAOPool?
Please contact us with your validator details and we will help you out. In addition to operating DAOPool, we also offer technical support to other DAOs running validators or other infrastructure on Solana.
- What can I do with my daoSOL?
You can provide daoSOL liquidity to decentralized exchanges. This helps exchanges meet their customer trading needs and in return you take a share of the fees earned. Liquidity pools that support daoSOL include Orca, Saber, and Raydium. In the case of Saber, your daoSOL can be used in the Saber daoSOL/SOL LP pairing. This will allow users to gain yield on their daoSOL balance.
- Can I trade my daoSOL on the secondary market?
Yes, you can trade daoSOL on the secondary market. Since daoSOL is a “liquid” version of staked SOL, you are able to swap to another coin, or utilize your daoSOL in DeFi applications. Examples of secondary markets that support daoSOL trading include Orca, Jupiter, and Dexlab.
- Does DAOPool charge any fees?
DAOPool collects a 0.3% fee when SOL is unstaked from the pool. We also collect a 2% commission on staking rewards that are earned by the pool. These fees help support the ongoing maintenance and development of DAOPool.