The smart contract keeps track of the Miners of the mining pool. It will be able to add new Miners to the mining pool through the Miners voting system. The Miners will be able to vote to remove existing Miners in the case of them being bad actors. The Smart contract will keep track of the STX and xBTC balances each Miner owns, and if the Miners has opted in, auto exchange it into BTC to a Bitcoin address specified by the Miner. The smart contract will also update the Miners balances with their STX after winning a block.
On the following pages, we'll go through each flow and show you how it works with clear explanations and helpful visuals.
The functions for the Smart Contract are explained in the next flows.