5% of each payout is taken for server and maintenance fees.
"Mining" Gridcoins works differently than traditional coins. With Gridcoin, coins are rewarded for BOINC contribution and coin interest. The pool works by using a feature found in many BOINC projects called weak authentication. This allows an account, on a BOINC project, to securely give out login details for said account. This then lets other people "mine" for their account without worry of them being able to change any account settings. Whenever someone starts mining under the account, a new host is added for that account. The pool uses this to "pool" together hosts to create a higher magnitude for staking blocks on the Gridcoin network. Since the pool has a higher magnitude than most individual Gridcoin users, the pool is able to stake blocks faster, meaning you get paid faster! This is done by having an official pool account for each BOINC project, then the weak authentication keys are given out so you are able to add your own hosts to them. This is all done automatically by using the account manager.
The pool takes advantage of the account manager features available on BOINC. When you use the pool's account manager, it allows an automated way for the pool to detect your hosts and link them to your pool account. This is important because otherwise people could claim ownership of random hosts under the pool's BOINC accounts. When you add the account manager to your BOINC client, a request is made to the pool's server, your pool account is verified, and your host details are uploaded. The information about your host is saved in the pool's database and linked to the pool account used for the account manager login. Stat tracking then begins and you are able to change project settings on the pool website. Stat tracking is done by querying each project for an account lookup of the pool's account. A host list is returned with each host's RAC. The script used to do this runs every couple of hours. The time your host's RAC was last updated is shown on the profile page. This is all saved in the pool's database and used for calculating how many Gridcoins you should receive for your BOINC work done.
The pool's BOINC CPID is linked to a Gridcoin wallet, meaning it gets paid for the work done on the pool by all users. The pool gets paid faster than you normally would going it alone because it has a higher magnitude. A large chunk of Gridcoins are also kept on the pool's wallet for faster staking results as well. These Gridcoins are unrelated to the earnings and were added specifically for the purpose of faster staking rewards. As the pool stakes blocks and earns Gridcoins, they are given out to the pool users based on their work done. This is calculated in the exact same way as the Gridcoin network would. Each of your host's RACs are taken and given a magnitude. That magnitude is then used to determine what percent of the pool's balance you should receive. Payments are done on a semi daily basis, paying out the pool's full balance to everyone, minus the chunk of Gridcoins reversed for faster staking.
That's pretty much it! If you have any additional questions please feel free to contact me on IRC or leave a post on the official thread for the pool here.
Please make sure to use "http://pool.gridcoin.co" as the URL and NOT "http://pool.gridcoin.co/", this is a problem with how BOINC treats URLs..
1. Log into the webpage of any BOINC project you are attached to other than WCG
2. Click on "Computing preferences"
3. Scroll down, click "Edit preferences"
4. Change any value, scroll down, click "Update preferences"
5. Click on "Edit preferences" again and change back the previously adjusted value, save
6. Go to your BOINC manager, in the "Projects" tab select the project where you just modified your preferences, click Update
7. Try attaching to the pool again, it should now work
More Details: BOINC GitHub Issue