Beginner's Questions On My First Delegation

I just used the Daedalus wallet to stake my first delegation. I went through the process as instructed on the Daedalus interface, and my first staking epoch begins tomorrow:

– Do I need to do anything when the epoch begins, or does the amount that I delegated automatically start getting staked to the pool that I selected?

– Is there a way to automatically re-delegate my rewards/original stake to the same pool?

Hey @AdamF1

Congrats to your delegation! You don’t have to do anything if you successfully delegated your ADA to a pool. However id recommand you to check from time to time if the pool you have delegated to is working properly. Also all your rewards and every other new ada on your wallet are automaticly delegated to the same pool because you didnt delegate the single coins, you delegated the whole wallet.

Cheers
Fabian

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Thanks Fabian,

Is there a way to check on my Stake pool inside of Daedalus or be automatically alerted of any problems / parameter ratios that fall out of whack, or do I need to go to the stake pool website/operator directly to check on my pool’s health?

There are different apps like Pooltool app which would alert you if you configured the app correctly :slight_smile:

Got it, thank you!

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I just had my first transaction today, withdrew coins from CEX exchange into my Deadalus wallet.
Since this was my first crypto transaction ever, I just tried with a very small %.
Of course, I would like to move all my coins from CEX into my wallet, to be part of the voting in Catalyst, etc.
I also delegated the wallet, and Im waiting for my record to appear in adapools.
I understand my whole wallet is delegated, and now I need to wait for the current (240) and next (241) epoch to finish, and then I would be eligible for pool rewards (if any). (Although I read somewhere it takes 4 epochs?)
My question is, when I move the rest of my coins, how much time does it takes for my stake participation, percentage, to be updated in the pool? My guess is it should kick in on the following epoch, right?

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Its always the same cycle :

Q: When do i receive my staking rewards?

A: Lets assume you delegated during epoch 200. Untill the end of that epoch nothing will happen.
In epoch 201 your stake is included in the current snapshot.
In epoch 202 your stake may will produce blocks.
In epoch 203, your rewards are calculated and paid out at the end of that epoch. The rewards will also be included in the next snapshot and thus be staked.

Cheers
Fabian

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Hello,

For a better view of the proccess

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Thanks Zyroxa and Alex.
So any change in the amount of ADA in the wallet (say I receive more ADA) will take 3 full epochs (and whatever is left in the current epoch) to see the impact in the rewards, ie snapshot, stake, calculation, and I assume at the beginning of 4th epoch the rewards will be available in the wallet. So at best the cycle is 15 days (say if I got ADA one hour before the epoch ends), or 20 days at worst (if I got ADA one hour after the epoch began)?

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This is correct!

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Hi, so I’m wondering where do the staking rewards come from, is it from the total ADA supply? if so does that mean that one day there will no longer be any staking rewards?

thanks

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Hello,

you delegated to a pool, that pool must create blocks in order to receive rewards… rewards are coming once at each epoch

Cheers,

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Yes, rewards are from (a) uncirculated total supply, plus (b) a share of transaction fees.

In future as (a) diminishes, eventually to zero, (b) can be expected to increase.

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I see, so there will always be staking rewards.
Thanks for the insight

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Thanks for posting. What a great outline. Man, I love Cardano and am so happy that we will do our best to help developing countries with it. That alone is enough reason for why I will stake. I have a good life. Let’s do our best to give everyone a good life. Blessings.

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Happy delegation!

Dear Alex,

as I can see, you have helped manny people, I can only pay my respect.
If you find some time to answer to me as well, I would be more then grateful (I can stake in your pool if you want me to).
So, I tried to stake my ADA, a decent amount for just a regular guy so I could earn interest and help decentralize network, but every time I “hit a wall”.
I connect Ledger Nano, I choose a pool (tried with more then one), then I confirm transaction fee as asked, then it stores some keys, and at the last stage I am suppose to confirm some long number, but it is not a pool ID. So, I cancel every time. I don’t know what that number is, but it’s long. I am new to this, I bought my ADA over some time and recently more, so I wouldn’t want to lose it by some technical fault (although I believe it is impossible with Cardano. Yet, … not experimenting on my own). Do you have any advice? Am I safe? I would be so, so grateful.

P.S. attached picture, see the difference between pool ID and my conf. number (which I have scrolled all the way to the end)

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Hello,

Wellcome aboard!
If u want yeah u can support my project by delegating to my pool…

I can’t see if that string starting with pool… if yes should pe the pool ID confirmation

Try to delegate to my pool and if u will receive this long number:

Pool ID: pool1qqenhz258k5k9nyjull6gkzg7s4f3ae8v7qxwpegeef9v0nsy3e (00333b89543da962cc92e7ffa45848f42a98f7276780670728ce5256)

It means it’s just a confirmation that u will delegate to the Charity Pool which has the POOL ID:

Pool ID: pool1qqenhz258k5k9nyjull6gkzg7s4f3ae8v7qxwpegeef9v0nsy3e (00333b89543da962cc92e7ffa45848f42a98f7276780670728ce5256)

So don’t worry about

Happy delegation!

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My God, you were fast man! Thanks so much!
I asked on Telegram, Twitter, but only scammers trying to DM me and steel from me, like I’m born yesterday.
I see there’s pool ID and this another number, so if I known that it’s about same thing, I would confirm before.
But then I wouldn’t be in your pool, right :wink:
I won’t try it right now, but tomorrow when I have enough free time. Hope to see that exact number.
Will let you posted. Thanks again! You were the first one to respond, respect!

Silvestar

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You are wellcome!