diff --git a/contracts/potlock/README.md b/contracts/potlock/README.md
index aada8d69..f13a60fb 100644
--- a/contracts/potlock/README.md
+++ b/contracts/potlock/README.md
@@ -1,7 +1,27 @@
-# Paymaster SC
+# Potlock SC
 
 ## Overview
+Potlock is a smart contract designed to enhance and accelerate Public Goods Funding (PGF) by leveraging the power of blockchain technology. Inspired by the collaboration between Potlock and the NEAR Foundation, this contract aims to provide an efficient and transparent mechanism for funding public goods, encouraging community participation, and maximizing the impact of pooled resources.
 
+## Features
+* **Public Goods Funding (PGF)**: Facilitates the pooling of resources for funding projects that benefit the public.
+* **Transparent Allocation**: Ensures that funds are distributed transparently according to predefined rules.
+* **Decentralized Governance:** Empowers the community to participate in decision-making processes related to fund allocation.
+* **Efficient Fund Management**: Optimizes the management and distribution of funds to maximize impact.
 
 
-## Implementation
+
+## How It Works
+
+2. **Activation**:
+* A POT is defined, where backers and the foundation contribute tokens.
+* Anyone can suggest a new POT by paying a fee, but the proposal must be accepted by the admin for it to be activated.
+2. **Application and Review**:
+* Projects submit their applications to the POT, aiming to secure funding.
+* An authority reviews these submissions, evaluating their eligibility and potential impact.
+3. **Donation and Matching**:
+* Approved projects receive direct contributions from verified donors.
+* These donations are further amplified by the POT's value through the Quadratic Funding (QF) model, maximizing the impact of smaller contributions.
+4. **Payout**:
+* Funds are distributed to the projects based on the matching model.
+* After a cooldown period, the process can start again from step 1, with a new or existing POT.
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