ODINPool.com is closing withdrawals per 20th of December 2019 and will go offline by 31st of December 2019. Make sure to withdraw all your coins before that date and don't transfer more coins.

Some frequently answered questions are posted here. If you cannot find an answer on this page, contact @TPRCoop on the Official ODIN Discord or reach out to us via Twitter @ODINPool.

Frequently Asked Questions - Shared staking

Why stake ODIN in a pool?

Staking in a pool is interesting when your balance is not sufficient enough to generate rewards with a high frequency, exposing you to the risk of having to wait an extremely long time for any reward.

An example of our benefits:

Let's say that you have 1200 ODIN. As rewards are randomly allocated to any active node, based on their weight, your staking rewards could be awarded in the last 3 months of the year. This could result in a decrease of your average network weight, as you do not receive rewards while others do. By staking in ODINPool, you will get smaller rewards more frequently. Ensuring you keep up with the rest of the ODIN owners.

Is there a minimum amount of coins needed to join?

You can contribute any amount of coins to the Pool. You will just get rewarded your share in the total Pool wallet of the staking rewards.

Control of your coins

You have an own unique ODIN blockchain address with the ODINPool.com wallet. By using ODINPool.com you trust us with your coins, just as you would trust your exchange when holding your coins there. Staking with multisig-addresses is not (yet) possible. You are free to deposit any amount to your unique address and withdraw any of your coins at an instance.
Your account balance will not necessarily match the amount of ODIN available in your blockchain address according to the blockchain. In order to save of transaction fees, ODINPool.com does not settle balances between addresses. The total of all account balances on ODINPool.com is however available to ODINPool.com, so any withdrawal request, up to the account balance of a user, is executable.

Why should I trust ODINPool.com?

We are aware that we offer this pool in a way that requires trust from the user. We are also aware that as a new website, people will have little reason to trust us. We hope to gain everyone's trust by providing a stable pool environment with a steady stream of staking rewards. The owner of ONDPool.com is available on the Official ODIN Discord under the tag @TPRCoop or via Twitter @ODINPool, and will answer all questions.
ODINPool.com was made to give small wallet holders an viable option to stake their wallet. By doing this, we believe that ODIN becomes more interesting for everyone and in the end that benefits all holders of ODIN.

What about Multisig-addresses?

In the coming period, we will check whether multisig staking is possible on the ODIN blockchain.

How to stake with ODINPool.com?

Register for an account and deposit ODIN to the address generated specifically for you. After the deposit reaches 51 confirmations, we will automatically include your ODIN in the pool's staking weight and you will start earning rewards.

Are there any fees?

In order to cover the costs of running the service, ODINPool charges a pool fee of 4% over the rewards. So every block that is mined by us, the users will share 8.928 ODIN amongst them and we get 0.372 ODIN.
We do not charge any other fees, besides the general transactions fees charged by the blockchain, when withdrawing your ODIN.

Keeping your coins safe while generating income

Your data and coins are safe with us. Our wallets are encrypted and are only unlocked for staking and for the split second that is needed to service withdraw requests.
Your coins can only be withdrawn to an address provided by yourself. In your account settings, you have the option to change that withdrawal address.
Your account is standard secured by the password you create at registration. In your account settings, you can enable 2FA through Google Authenticator and set up an e-mail address linked to your account. You can request us to inform you by e-mail of any setting update in your account. Or opt-in for confirmation of any change by 2FA through Google Authenticator. You are also able to delay of requesting withdrawals by any number of minutes in your account settings. We advise you to do so, this greatly increases the security of your account.

What about privacy?

You are not required to provide us with any personal informations. A secure password is all it takes to create an account with us.
To ensure the security of your coins, we do recommend enabling the Google Authenticator and providing us with an e-mail address. But this is not required.
Do take note, that without an e-mail address connected to your account we can do NOTHING to help you recover your account and coins if you forget your password.

Happy staking!