FAQ

Frequently asked questions

What is FrensPool?

FrensPool is a social group betting platform built on the Monad blockchain that allows users to create and participate in prediction pools with friends. Users can set a question, buy-in amount, and deadline, then invite friends to participate by voting YES or NO on the prediction.

How does FrensPool work?

1. A user creates a prediction pool with a question, a buy-in amount, and a deadline

2. Friends join the pool by paying the buy-in amount and voting YES or NO

3. After the deadline, the pool is resolved based on the actual outcome

4. The winning side (those who voted correctly) splits the pot

Is FrensPool decentralized?

Yes, FrensPool's core functionality runs on smart contracts deployed on the Monad blockchain. All pool creation, voting, resolution, and fund distribution happens on-chain in a decentralized manner.

What blockchain does FrensPool use?

FrensPool is built on the Monad blockchain, specifically the Monad Testnet, during the current phase.

What fees does FrensPool charge?

FrensPool charges a minimal platform fee of 0.5% of the total pool amount. This fee is deducted only from the winning pot and is used to maintain and improve the platform.

Getting Started

How do I connect my wallet to FrensPool?

1. Click "Connect Wallet" in the top right corner of the FrensPool website

2. Select your wallet provider (e.g., MetaMask)

3. Approve the connection request in your wallet

What wallet can I use with FrensPool?

Currently, FrensPool supports MetaMask and other Ethereum-compatible wallets that work with the Monad blockchain.

How do I get MON tokens for the Monad Testnet?

You can get testnet MON tokens from the Monad Testnet Faucet. Connect your wallet to the faucet and request tokens.

How do I add the Monad Testnet to my wallet?

In MetaMask:

1. Click on the network dropdown at the top

2. Click "Add Network" and then "Add a network manually"

3. Enter the following details:

   • Network Name: Monad Testnet

   • RPC URL: https://testnet-rpc.monad.xyz/

   • Chain ID: 10143

   • Currency Symbol: MON

   • Block Explorer URL: https://testnet.monadexplorer.com/

Creating Pools

How do I create a prediction pool?

1. Connect your wallet to FrensPool

2. Click "Create" in the navigation menu

3. Fill out the pool details (question, buy-in amount, deadline, oracle type)

4. Click "Create Pool" and confirm the transaction in your wallet

What makes a good prediction question?

A good prediction question should be:

• Clear and specific

• Objectively verifiable

• Time-bound

• Unambiguous

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

What are the different oracle types?

FrensPool supports three oracle types:

• Manual: The pool creator manually determines the outcome

• Chainlink: The outcome is determined by a Chainlink price feed

• Social: The outcome is determined by trusted participants (currently defaults to manual)

How much does it cost to create a pool?

Creating a pool requires:

1. The buy-in amount you set for the pool

2. Gas fees for the transaction on Monad

Can I edit a pool after creating it?

No, once a pool is created, its details cannot be changed. This ensures fairness and transparency for all participants.

Participating in Pools

How do I join a prediction pool?

1. Browse available pools or use a direct link

2. Click on a pool to view details

3. Choose to vote "YES" or "NO"

4. Confirm the transaction in your wallet

Can I change my vote after submitting it?

No, once you've cast your vote, it cannot be changed. This ensures the integrity of the prediction pool.

How many pools can I join?

There is no limit to the number of pools you can join. You can participate in as many pools as you like, as long as you pay the required buy-in for each.

Can I create and join my own pool?

Yes, when you create a pool, you automatically join it with a "YES" vote. This ensures that the creator has skin in the game.

Resolution and Payouts

How are pools resolved?

Pools are resolved based on their oracle type:

• Manual: The pool creator manually determines the outcome

• Chainlink: The outcome is determined automatically by checking the specified Chainlink price feed

• Social: Currently defaults to manual resolution

When can I claim my winnings?

You can claim your winnings after a pool has been resolved and if you voted on the winning side. Visit the pool page and click "Claim Winnings" if you're eligible.

How are winnings calculated?

Winnings are calculated as follows:

1. Platform fee (0.5%) is deducted from the total pool

2. Remaining amount is divided equally among all winners

3. Each winner receives: (Total Pool - Platform Fee) ÷ Number of Winners

What happens if there are no winners?

If no one votes on the winning side, the pool remains unresolved. In future versions, there will be a mechanism to handle this edge case.

Is there a deadline to claim winnings?

No, there is no deadline for claiming winnings. You can claim your winnings at any time after the pool is resolved.

Technical Questions

What smart contract does FrensPool use?

FrensPool uses a custom smart contract deployed on the Monad Testnet at address 0x2535fe5De9A5BfAF6cf27316f141a5f67239E65A.

How secure is FrensPool?

FrensPool's smart contracts implement security best practices, including:

• Using OpenZeppelin's ReentrancyGuard to prevent reentrancy attacks

• Using OpenZeppelin's Ownable for access control

• Secure fund management and distribution

Can I use FrensPool on mobile?

Yes, FrensPool is designed to be responsive and works on mobile devices. You'll need a mobile wallet like MetaMask Mobile to interact with the platform.

What happens if the Chainlink oracle fails?

If a Chainlink oracle fails to provide data, the pool will remain in the "Closed" state. In such cases, the pool can be manually resolved by the creator or platform administrators.

Troubleshooting

My transaction failed. What should I do?

Transaction failures can happen for several reasons:

1. Insufficient MON for gas fees

2. Network congestion

3. Incorrect transaction parameters

Try increasing your gas limit or waiting for network conditions to improve.

I can't see my winnings. What's wrong?

If you believe you should have winnings but don't see them:

1. Verify the pool has been resolved

2. Confirm you voted on the winning side

3. Check if you've already claimed your winnings

4. Ensure your wallet is connected correctly

The pool deadline has passed but it's not resolved. Why?

For pools with manual or social oracles, resolution requires action from the creator or trusted participants. If the deadline has passed but the pool isn't resolved, the responsible party may not have taken action yet.

I found a bug. How do I report it?

If you find a bug or issue with FrensPool:

1. Report it on our GitHub Issues page
2. Send details to [e-mail]
3. Join our Discord community and report it in the #bug-reports channel

Contact and Support

How can I contact the FrensPool team?

You can reach the FrensPool team through:

• Email: [e-mail]
• Discord: Join our community
• Twitter: @frenspool

Is there a community for FrensPool users?

Yes, join our Discord community to connect with other users, get support, and stay updated on new features.

Will FrensPool be available on mainnet?

Yes, FrensPool plans to launch on Monad mainnet after the testnet phase is complete and the platform has been thoroughly tested.

How can I contribute to FrensPool?

FrensPool welcomes contributions from the community. You can contribute by:

• Submitting pull requests on GitHub
• Suggesting features or improvements in our Discord

• Helping other users and growing the community