How do you join the Polkadot nomination pool?

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This guide will follow through the process of joining the P2P.ORG nomination pool.

Joining a Nomination Pool

Bonding Requirements: Note that pooling your DOTs requires bonding them, and once pooled, it takes 28 days to withdraw them.

  1. Visit the Polkadot Staking Dashboard and locate the Pools tab.

Link your Polkadot account to the Polkadot Staking Dashboard. This is the official portal for managing your staking. You can attach any Polkadot-supported account like SubWallet, Talisman, the Polkadot.js browser extension, and many others. It's also possible to attach your Ledger device or Polkadot Vault.

  1. Navigate to the "All Pools" tab: enter the name of P2P.org Pool: P2P.org Slashing Protected Pool and tap "More."
Note that the bonded funds are transferred to a pool account administered by the network protocol and are not accessible to anyone else.

See System Accounts for more information.

  1. In the opened window, you will see the details of the P2P.org Nomination Pool. Check that the ID of the pool is correct (#238). Input the desired amount of bond to stake (1 DOT in the example - as 1 DOT is the minimum amount to stake), and choose one of the reward-claiming options. Finally, click Join Pool.
There is no automatic rewards-claiming feature.
It would help if you claimed rewards manually.
P2P.ORG is working on automating reward claims under certain conditions.

The available options are:

Allow Withdraw: Anyone can claim the rewards on your behalf as a transferable balance in your account.

Allow Compound: It grants permission to anybody to claim and compound your rewards.

Pemissioned: Only you can claim rewards.

  1. Sign the Transaction using your wallet.
  2. Your dashboard will show the information about the nomination pool.

Leaving a Nomination Pool

  1. Navigate to your Pool: Click' Manage' in the 'Pools' section.
  1. Select ‘Leave Pool’, review the unbonding amount, then click 'Submit'. Your funds will be available after 28 days in Polkadot. 
  1. Sign the Transaction using your wallet.

How to Manually Claim Your Pool Rewards

P2P.org claims daily all validators’ rewards.
However, in nomination pools, rewards must be manually claimed by the pool member and then can be bonded back into the pool for compounding or used as a free balance.

  1. To claim the pool’s rewards, go to the Pools tab on the Polkadot staking dashboard and check your unclaimed rewards.
  1. Choose Reward Action:
  1. Click "Submit" and sign the transaction to claim your rewards.

For more detailed information, refer to the community guide on how to join the nomination pool and how to claim rewards.

If you are using Ledger, please refer to the ledger’s instructions on how to join the nomination pool from the ledger.

Ledger guides

  1. Ledger’s guide on staking Polkadot (DOT) thought Ledger Live
  2. Ledger’s guide on using Polkadot Staking dashboard
  3. Ledger’s guide on set up and use polkadot js to access your ledger Polkadot (DOT) accounts and guide Kusama (KSM) accounts
  4. Ledger’s guide on how to join a polkadot nomination pool

About P2P Validator

P2P Validator is a world-leading non-custodial staking provider, securing over $7.6 billion by over 10,000 delegators/nominators across 25+ high-class networks. We have been presented in all Polkadot testnets and have actively participated in the Kusama network since the beginning. P2P Validator invested its own funds in Polkadot in 2017 and intends to support the network in the long term.

Do not hesitate to ask questions in our Telegram chat or contact Alex via [email protected]. We are always open for communication.

Web: https://p2p.org

Stake DOT with us: https://p2p.org/polkadot

Twitter: @p2pvalidator

Telegram: https://t.me/P2Pstaking

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