Xeta Program Overview
Let me walk you through all official pool programs on Xeta. To start, let’s see why and when you might want to use a pool. Pools enable trustless execution of code through prewritten programs. When you deal with another party, trust plays an essential part in the transaction. With pools, you can simply trust that the program will execute the code instead of relying on human integrity.
There are ten prewritten programs on Xeta, which have been extensively tested and verified. Let’s look at each pool program and explain what they are used for.
Auction programs enable creators to sell their NFT. Users submit bids to the auction pool, and upon completion, the pool automatically transfers the assets to the individual parties depending on the success of the auction.
Launch programs enable projects to raise funds by distributing tokens to participants who wish to contribute XETA tokens. The XETA contribution is added to the liquidity of the launched token and can be traded afterward through its swap pool. Participants in the launch can claim their share of tokens after the launch completes.
Lending programs enable the lending and borrowing of fungible tokens. Lenders can deposit tokens to earn interest, and borrowers can borrow tokens in exchange for XETA collateral.
Lock programs enable users to lock tokens for themselves, or for someone else. This might come in handy when a project wants to distribute tokens without making them available instantly.
Loot programs are dropzones, where NFT creators can launch and distribute their NFTs in a randomized way. Creators specify a win probability, and users can transfer the required participation amount to the loot pool. Every transfer has a chance to win a random NFT, dependent on the loot pool probability.
Lottery programs enable creators to run promotions for a prize, which can be a fungible token or an NFT. Users enter a lottery for free or for the minimum required contribution amount and receive a participation ticket otherwise known as a claim. Once the lottery completes, users can redeem their claim to see if they hold a winning ticket and receive their part of the prize.
Royalty pools allow users to earn passive income by holding NFTs. Creators of NFTs can set up a royalty pool and deposit reward tokens to it. Royalties accumulate day by day and can be claimed by holders of eligible NFTs, which are specified by the creator.
Staking programs enable token creators to offer rewards for locking tokens for a certain amount of time. Users can stake tokens, and receive interest as well as bonus tokens in return once their staking period expires.
Swap programs are simply decentralized exchanges operating through a mathematical swap function. After liquidity is added to a swap pool, users can swap XETA into tokens or vice versa in a fully trustless and open way.
Vote programs enable voting on numeric targets like budgets, prediction markets, or a predefined set of candidates. Furthermore, vote programs can create betting games that reward voters with the correct answer.
To create a pool, visit the Xeta network app and connect your wallet. Click on your wallet, and select “new pool” under your wallet actions. Specify the associated pool token as well as the program. Check the Xeta documentation for your selected program or the program explanation video to find out more about the program and any additional fields that you can use to customize your pool.