Launch day is closing for LEAD Stake Pool, must admit to looking forward to a good nights sleep, a quick thread with some asked questions and points to consider
Q: What are LEAD Stake Pool fees?
A: Cost per epoch – 340 ADA, Pool margin – 2%
Q: What is the cost per epoch?
A: The minimum amount that the pool operator will take from the total rewards for a pool per epoch – it does not come out of delegators personal holdings. The amount is per pool and not per delegator. 340 ADA is the minimum amount.
Q: What is the pool margin?
A: This is a further amount of the rewards which the pool operator will receive based on the rewards the pool receive – Once again it does not come out of the delegators personal holdings. This amount is completely variable based on the pool.
Q: Why would I not just delegate to a whale pool with 0% pool margin?
A: The network has something called a saturation point. After a certain amount of ADA has been delegated to a pool the rewards the pool earns starts to decrease.
Q: Could I lose my funds?
A: No – the funds never leave your own wallet
Other points to consider when selecting a pool:
a) There was a large number of pools created fairly last minute which may mean they are not the most secure or just set up to jump on the hype train. Whilst your funds are not at risk per si, you return for rewards will be.
b) Feel free to drop potential stake pool operators a message to find out more information if you are not sure about certain things. The best ones will have an open communication channel with their delegators
c) The current ranking system in Daedalus is not operating 100% correctly until we start minting blocks for real. Don’t just sign up to pool number one on the list because its number one, it would likely drop shortly afterwards.
d) Finally, please key your funds secure! – “Not your keys, not your funds” – please figure out the best way to protect yourself
LEAD plans on being around this space for a long time and would love delegators to stick with us for the long run.
As always if there are any further questions feel free to reach out to LEAD Stake Pool – Helping to LEAD the way to a decentralised future