How to HardCode the name of the Pool?

I dont want to name the Pool or Participant after dragging it. Is there any way to hard code the name of the participant so that it comes up as soon as the user drag and drop the Pool ?

You could hook into 'shape.create' event and set name for the business object of the element.
Basically, something along these lines :

eventBus.on('shape.create', 1500, function(e) { = 'HARD CODED NAME';

Hope this helps,