# New Mining Pool

The Bitbyte pooling platform supports operators to build their own pools, and also supports users to earn the corresponding pool rewards through four ways: Mining Pool, Periodic mine pool, liquidity mining pools on the \[Receive] page of the platform. Take the Mining Pool as an example.

### 1.Go to the creation page

<figure><img src="https://1598402773-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FYHkicuHxni9JKmPRU5Dl%2Fuploads%2FuQ25ikZFEzSz6J1n3kZh%2FB41.png?alt=media&#x26;token=4270bf39-423b-4eb0-8919-848c5a64c951" alt=""><figcaption></figcaption></figure>

**2.Select pledge token and income token**

Example: The pledge currency chosen is WBNB and the revenue currency is SCT, meaning that the pledge of WBNB generates SCT. (The number of bonus tokens per block is set by the operator)

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Please note: The BSC and HECO chains produce blocks at a rate of approximately 3 seconds per block, generating a total of 28,800 blocks per day, so please anticipate your earnings and fill in the form carefully.

If you can't find the currency in the list, you will need to search for the contract address of the currency. Please put the contract address in the box and the name of the coin will be displayed automatically (if you don't have an icon, you will need to contact a member of the community to put up a logo)

### 3. Invitation Rewards

Invite rewards will encourage users to invite more friends to take part in pledging, thus earning invites back. bitbyte supports up to two levels of invites, i.e. the invited user will take part in pledging and the earnings will be shared between their first (higher) and second (upper) level friends.

For example, if 1 USDT is paid out per block, 15% for Level 1 and 5% for Level 2, then the 1 USDT reward will be divided into three parts: 0.8 USDT (80%), 0.15 USDT (15%) and 0.05 USDT (5%). If the pledged user has a superior, then they get 0.15 USDT and 0.05 USDT. If not, 0.2 USDT is placed in the contract.

<figure><img src="https://1598402773-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FYHkicuHxni9JKmPRU5Dl%2Fuploads%2F8SAYFY1Gmj9dPYTNdO4C%2FB43.png?alt=media&#x26;token=8869e920-9615-46c4-8f1b-c017158b0d03" alt=""><figcaption></figcaption></figure>

Invitation relationships can be viewed and bound in your wallet account.

### 4.Setting the pool bonus period

Once the pool bonus period (the pool is still displayed after expiry, but the bonus stops releasing) and the pool lockout period (users cannot withdraw tokens from the pledge until the lockout period ends) are set respectively, the total expected revenue payout will be calculated on its own, without further calculation by the operator.

<figure><img src="https://1598402773-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FYHkicuHxni9JKmPRU5Dl%2Fuploads%2FhBZVCICafL0gBpxvYrhq%2FB44.png?alt=media&#x26;token=dc6cd8d3-55f1-455e-acf6-084231ce397f" alt=""><figcaption></figcaption></figure>

The formula for calculating the revenue reserve is: Total payout = number of blocks released per block X 28800 X number of days of issue time X 101% (28800 refers to a block of three seconds for BSC and heco, which is approximately 28,800 blocks a day, and the 1% in 101 refers to the handling fee charged by the platform).

Note: When the operator's currency has a transfer destruction mechanism, you will need to top up your reserve with more than the calculated value according to the actual destruction ratio, otherwise the transaction will fail. To ensure the pool is created successfully, please enter the number manually in the Top Up Revenue Reserve section and pay the reserve.
