Running a Pool (Operator Guide)
An operator runs a validator and opens it as a pool that others can delegate into. You provide the infrastructure and a meaningful self-bond; in return you earn a commission on the rewards your pool produces. This guide covers registering a pool, setting commission, and your responsibilities as an operator. If you have not run a node yet, start with Become a Validator.
Self-bond: your skin in the game
To open a pool you must stake a minimum amount of your own ANM — the operator self-bond (2,000 ANM). This floor is deliberately set above the per-delegator minimum: it guarantees the operator shares the same downside as its delegators, because principal losses are socialised across the operator and delegators alike. You cannot later withdraw your self-bond below this floor while other delegators remain in the pool.
Commission
Your commission is the percentage of each block reward you keep before the remainder is shared among delegators. You set it when you register, anywhere from 0% to 20% (the protocol cap). The rest of every reward flows into the pool’s slash-immune reward escrow for delegators to claim.
To protect delegators from a bait-and-switch, commission changes are asymmetric (anti-rug):
- Lowering your commission takes effect immediately.
- Raising your commission only takes effect after a notice period (about 21 days). Delegators see the pending increase and its effective date ahead of time, and can unbond first if they disagree.
Registering / funding the pool
A pool is created and funded with a Bond transaction (type 2) that marks it as a pool registration and carries your commission. The same transaction tops up your self-bond later. In wallets this appears as an operator/validator action rather than the delegator-facing Delegate flow.
High-level steps:
- Run and fully sync an Anemos node, and create the validator’s key (see Become a Validator).
- Send the pool-registration Bond with your self-bond (at least 2,000 ANM) and your chosen commission (0–20%).
- Once committed, your pool is discoverable in the explorer operator marketplace and accepts delegations.
Capacity
Every pool has a maximum stake (the protocol’s supply-indexed cap). As delegators join, the pool fills toward that cap; once full, further deposits are rejected until the cap rises with network supply. The marketplace shows your fill level so prospective delegators can see how much room is left.
Your responsibilities
- Stay available. Your pool earns only when it produces blocks, and your commission is only as good as your uptime. Persistent unavailability excludes a validator from proposing until it recovers.
- Attest the oracle honestly. Signing a price that deviates from the network is slashable, and the loss is socialised across your pool — including your own self-bond. Availability gaps are not slashed, but deviations are.
- Keep your self-bond above the floor. If a socialised loss pushes your self-bond below the operator minimum, restore it before you can grow the pool again.
Winding a pool down
Because the operator self-bond cannot drop below its floor while delegators remain, closing a pool means delegators exit first (or you keep enough self-bond in place). Plan a hand-off or give notice before you stop operating, so delegators have time to unbond or move to another pool.