> For the complete documentation index, see [llms.txt](https://docs.lighter.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.lighter.xyz/trading/public-pools.md).

# Public Pools

Public Pools allow participants to combine funds under a designated operator who trades on their behalf. Whitelisted users can create a Public Pool to attract participants and manage pooled capital. Profits are distributed to participants after deducting the operator’s fee.

#### Pool Operators

Operators are currently whitelisted by the protocol to run strategies. Trading is conducted via a sub-account in the Operator's account. Considerations:

* **Operator Fee:** The percentage of profits allocated to the operator upon participant withdrawals as compensation for managing the pool.
* **Minimum Operator Share:** The minimum ownership percentage the operator must maintain in the pool to remain aligned with its performance. For example, if the minimum operator share is set at 10% and the operator deposits 10,000 USDC, participants may deposit up to 90,000 USDC.
* **Isolated Margin:** Public Pools do not support isolated positions.

#### Pool Depositors

Depositors allocate capital to pools running strategies they are interested in. When depositing into a Public Pool, depositors receive pool shares, which are redeemed upon withdrawal. Unlike many DeFi vaults, Public Pools do not impose lockup periods. The LLP has a 5-minute withdrawal cooldown on Lighter (`systemConfig.liquidity_pool_cooldown_period = 300000` ms) and no cooldown on Robinhood Chain. LLP deposits are also limited by LIT staking; see [LIT Utility](/about-lighter/lit-utility.md).


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