Does anyone know the fee to switch staking pools on Daedalus?
.8 ada is the cost
Careful, every time I carefully research and choose a pool based on past performance, performance goes to shit and my prior pool takes off. A little frustrating to say the least.
Thanks and good luck. My initial pool didn’t perform well and is at saturation, so looking for one that has less invested and a good performance rating. Fun times!
Currently, performance rating isn’t a great metric. It heavily penalized stakepools (especially small ones) who were missing blocks during the time when the testnet was the most unstable early on. Overall, I wouldn’t put too much stock into that number. Additionally, performance rating will be 0% for any pool which hasn’t made a block in the current epoch.
See my post here for more info:
don’t chase performance. these numbers are elusive. There are some not so intellectually honest folks who annualize their daily performance and claim 47% yearly returns. This isn’t accurate.
Assuming you are comparing similar pools in fees and up-time (this one is very hard to get unless pool operators actively advertised this… which no one will) your ROI in the long run should be the same whether you are staking with a smaller or larger pool. Smaller pools are further from saturation points which may give you a peace of mind.
In general, saturation, uptime and fees are the main deciding factor in your returns. Avoid large pools as herds follow them and saturate them. Pool operators can’t do anything about that so the herd will get subpar results until the critical mass leaves.
Judging by the amount of stake in really dead pools, this isn’t going to be a fast process. so it is better to stay with small pools and check on them every week or so.
2 Likes