Geode Finance User Experience

I decided to try out Geode Finance on the Ethereum Goerli testnet. This was my experience.

  1. You choose whether you want to run a staking node, or if you want to be a part of a an existing staking pool as a node operator. I wanted to see what it will be like to create a staking pool.

2. You then name the staking pool.

3. Afterwards, you set a maintenance fee. I set 4%.

4. You then choose if you want the pool to be public or not.

5. There are different types of token types, but you don’t necessarily need a separate token.

I chose ERC 20 and had the option to name it.

6. Geode gives you the option to have a liquidity pool. I decided to go for it due to the benefits explained.

7. You then create a withdrawal contract.

8. After all those steps. the pool information is summarized and you can go ahead and deploy the pool.

I found this process to be very intuitive. There are a lot of options available for operating a staking pool. I appreciated the straight forward UX, as well as the explanations of the benefits of different options. I think that this protocol will go far in allowing true decentralized ETH staking.

Test it yourself at https://stake.geode.fi/stakingpools

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