Last I checked only something like 55% of Ada was staked.
If an address holding Ada has gone dormant, say for over a year, could the protocol auto delegate to the smaller stake pools and donate the staking rewards to the Cardano Foundation?
I am sure there could be a major problem with this but I was just trying to think about how to recover all the lost and forgotten Ada.
There is no way of being absolutely sure the ada is lost, just being dormant does not prove anything.
Imo it could breach someones privacy to do anything with dormant accounts like you suggest.
Also the incentive to stake design is to reward active contributers to secure the network, if such a solution as you propose was instituted it would create an incentive for the Cardano Foundation to encourage dormant accounts while part of their mission is the exact opposite.
Yeah maybe not the best idea to have rewards go to Cardano foundation. Obviously a conflict of interest there, so maybe to a different organization that could add value to the ecosystem. Possibly allow the community to vote on it.
Auto delegation to smaller pools would increase decentralization right? Wouldn’t that actually promote security on the network rather than that Ada just remaining stagnant?
Really great points Chris, I appreciate your response. I am just brain storming here
It would still somehow seem to breach privacy in some way if it was staked anywhere, wouldn’t it?
I kind of look at it like this: I lay a nice shiny brand new hoe and pitchfork out in my fields and leave them there to rust, where I take pics of them over my lifetime for some wild art project, after I get old I decided I have one last picture to take and then my project is complete, well I go out to the fields to find my hoe is used with dirt on it and the rust scraped away by use, I instantly would feel like my privacy was violated.
I say let the dead ada be dead ada, even if we could benefit from it bieng used in any way, it might not be dead.
Not a problem, please don’t touch my dead ada if I have some out there
Chris you are hilarious. I never knew you had such strong feelings about “rusty hoes”.
I am so tempted to introduce a counter argument using your analogy but I don’t want to mess with this gold