An interest rate pool is a mechanism used in decentralized finance (DeFi) platforms where multiple users can deposit their assets to earn interest. These assets are typically lent out to borrowers, and the interest earned is shared among the contributors to the pool.When users deposit their cryptocurrencies into this pool, they often receive tokens in return that represent their share. The overall interest rate can fluctuate based on supply and demand for loans, and generally, the more assets that are deposited, the lower the interest rates may be, as there is more liquidity available.Interest rate pools offer benefits such as yield generation for depositors and access to loans for borrowers who may not want to go through traditional financial systems. The decentralized nature of these pools allows for transparency, as users can track their earnings and the performance of the pool on the blockchain.Overall, interest rate pools serve as a way to maximize asset utility while providing borrowers with an alternative source of liquidity.