Dive deeper into how on-chain funds work on OpenPool
Every pool that you find on OpenPool is launched and operates on the Ethereum Blockchain using the OpenPool smart contract. This means every deposit, withdrawal, and update to the pool's rules, are all recorded on the Ethereum blockchain. As a result we use the expression "on-chain" when describing pools on OpenPool.
As mentioned above, every pool on OpenPool is on-chain, meaning every update to it needs to get recorded on the blockchain. In order for these updates to be successful, Gas Fees are required to be sent. These fees may vary depending on how busy the blockchain is at a given time and are paid in Ethereum.
When a given pool is created on OpenPool, specific allocation and fee rules are provided by the creator of that pool. Once that pool is deployed, these rules are recorded on the Ethereum blockchain and govern how the respective pool functions. In other words, each pool is automated by their respective rules.
As of now, the rules for a given pool can only be modified by the creator of that fund. Should they seek to change them, gas fees would be required to be paid in order for those changes to be recorded on the blockchain.