# About Rakeoff

<figure><img src="https://675418999-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FPC4CG45fXTkob4GX5AeH%2Fuploads%2FUcE5mRhN9VOXAqbbETg3%2FSimplifying%20your%20staking%20experience.png?alt=media&#x26;token=6acab82d-ce3a-43bb-bfff-0b6fa48743c8" alt=""><figcaption><p>Rakeoff</p></figcaption></figure>

Rakeoff is a cryptocurrency staking rewards application built on the ICP blockchain. It offers an ICP wallet with simplified staking, real-time asset tracking, and a no-loss prize pool for staking rewards. Enhance your staking experience with achievement-based ICP bonuses, all within a compact, user-friendly application.&#x20;

If you're new to cryptocurrency and staking, delve into our easy-to-follow guides. They cover the essentials of the [ICP blockchain](https://docs.rakeoff.io/welcome/new-to-icp), how to set up your Internet Identity and a beginner-friendly approach to staking on Rakeoff:

{% content-ref url="new-to-icp" %}
[new-to-icp](https://docs.rakeoff.io/welcome/new-to-icp)
{% endcontent-ref %}

{% content-ref url="../rakeoff/tutorials-and-guides" %}
[tutorials-and-guides](https://docs.rakeoff.io/rakeoff/tutorials-and-guides)
{% endcontent-ref %}

### **The problems**

* The staking process on ICP is complex.
* Staking rewards are low unless you stake 1000's of ICP tokens.
* Limited disbursement options.

### **Rakeoff's solutions**

* [x] A simplified and streamlined way to stake your ICP tokens and earn ICP staking rewards. We've abstracted away all the extra nitty gritty stuff like setting a dissolve delay and a governance following - we do this automatically.
* [x] ICP's first no-loss prize pool. You may earn just 1 ICP a month or 1 ICP every few months from your stake, so the prize pool in Rakeoff is this new idea of pooling your low amount of newly created tokens with other users so you can try win big!