Creating a Pool

Instructions for creating prediction pools

Creating a Prediction Pool

This guide explains how to create a prediction pool on FrensPool, including all options and best practices.

Basic Pool Creation

Step 1: Navigate to Create Page

1. Connect your wallet to FrensPool

2. Click on "Create" in the navigation menu

Step 2: Define Your Question

1. Enter a clear, specific question in the "Pool Question" field

2. Good examples:

   • "Will ETH price exceed $5,000 before December 31, 2025?"

   • "Will the Lakers win the NBA championship this season?"

   • "Will it rain in New York City on July 4, 2025?"

Step 3: Set Buy-in Amount

1. Enter the amount each participant must pay to join the pool

2. This is denominated in MON (Monad's native token)

3. You will need to pay this amount to create the pool

Step 4: Set Deadline

1. Choose a date when voting will close

2. After this date, no new votes can be cast

3. The deadline should be before the event you're predicting

Step 5: Choose Oracle Type

Select how the outcome will be determined:

1. Manual: You (the creator) will manually determine the outcome

2. Chainlink: Outcome determined by a Chainlink price feed

3. Social: Outcome determined by trusted participants (currently defaults to manual)

Step 6: Create the Pool

1. Review all details

2. Click "Create Pool"

3. Confirm the transaction in your wallet

4. Wait for the transaction to be confirmed on-chain

Advanced Options

Using Chainlink Oracles

If you select "Chainlink" as the oracle type:

1. Select a Price Feed: Choose from available Chainlink price feeds or enter a custom address

2. Set Target Price: Enter the price threshold for your prediction

3. Choose Condition: Select whether the price should be "greater than or equal to" or "less than" the target

Example: If you want to predict "Will ETH exceed $5,000?":

• Select the ETH/USD price feed

• Enter 5000 as the target price

• Choose "greater than or equal to" as the condition

Using Social Oracles

If you select "Social" as the oracle type (coming soon):

1. Define Trusted Participants: Enter addresses of trusted participants who will determine the outcome

2. Set Threshold: Define how many participants must agree for consensus

Best Practices

Writing Good Questions

• Be specific and unambiguous

• Include a clear timeframe

• Avoid subjective terms

• Consider how the outcome will be verified

Setting Appropriate Buy-ins

• Consider your audience's budget

• Start with smaller amounts for friends who are new to crypto

• Ensure the buy-in is worth the gas fees

Choosing the Right Oracle

• Manual: Best for casual pools among friends who trust each other

• Chainlink: Best for objective, price-based predictions

• Social: Best for complex questions requiring human judgment

Setting Deadlines

• Set a deadline that gives enough time for participation

• Ensure the deadline is before the event occurs

• Consider time zones if participants are global

After Creating a Pool

Once your pool is created:

1. Share the Link: Copy the pool link and share it with potential participants

2. Monitor Participation: Check who has joined and how they voted

3. Prepare for Resolution: Be ready to resolve the pool if using manual oracle

Resolving Manual Pools

If you created a pool with a manual oracle:

1. After the deadline, visit the pool page

2. Click "Resolve Pool"

3. Select the correct outcome (YES or NO)

4. Confirm the transaction in your wallet

Troubleshooting

If you encounter issues creating a pool:

• Transaction Failed: Check that you have enough MON for the buy-in plus gas fees

• Network Issues: Ensure you're connected to Monad Testnet

• Chainlink Feed Errors: Verify the feed address is correct and active