Joystream / Joystream/joystream
Runtime: Nomination Pools
- Dominant language
- Rust
- Stars
- 1.4k
- Forks
- 116
- PR merge metrics
- No merged PRs in 30d
Description
# Problem
The current staking system is quite complex, and even with a vastly improved UI/UX it still has a limitation in that end users need to pay attention to complex issues and choose validators that are high quality. There is no incentive for wallet providers to add our staking functionality to their wallets as the current staking system doesn't allow for this (unless the wallet provider operates a validator themselves).
We currently have quite a low amount of tokens staked and this is likely caused by how difficult the staking process is. While we are introducing a better UI/UX within Pioneer it will still remain a complex thing compared to the in-app staking that can be seen from other projects which can allow for smartphone users and extension users to stake their tokens quite effortlessly.
# Solution
Nomination pools are a feature on substrate and technically speaking the functionality could be added to our runtime. There is desire from some on the council for this feature but there is the question of priority and probably some really complex development considerations that have to be discussed.
# Benefits
It seems that one of the revenue streams of some wallet development teams is to operate nomination pools on behalf of their customers. Optimistically, having this feature would provide incentive for wallets to add and feature our project and also for users to stake. This could perhaps even include hardware wallet developers.
If you sort the current nomination pools on Polkadot (https://polkadot.subscan.io/nomination_pool) the top one is Talisman and the 5th is Nova wallet - this gives some indication of how much to expect wallet providers may be able to help in increasing the amount staked.
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