IOG's Response to the Parameter Committee Recommendation on PCP-001

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IOG’s Response
Input Output Global (IOG) is committed to supporting the evolution and advancement of Cardano. To this end, IOG - in association with the Cardano Foundation and Emurgo - will enact the Parameter Committee’s recommendation to reduce the minPoolCost parameter from 340 Ada to 170 Ada.

This recommendation is supported by the accumulation of research and feedback over the course of the last eight months and beyond. The recommendation also takes into account the on-chain poll, regular calls with the SPO community, discussions across many platforms and fora, and expert analysis from the Parameter Committee advisory groups, whose minutes are publicly accessible here.

Plan of Action
After agreement with the Parameter Committee, and the signing authorities, we have now submitted the Change Request to the Preprod and Preview environments with the intention of submitting the change to mainnet on the 23rd of October. This will take effect at the end of the epoch, on the 27th of October, at 21:44:51 UTC.

IOG looks forward to seeing more recommendations from the Parameter Committee on issues important to the Cardano ecosystem, and the discussions these engender; and we encourage you to participate in the Parameter Change Proposal (PCP) process to create new PCPs for the committee to consider.

To look into the history of this recommendation, find its first mention in the minutes of the committee’s July 6th meeting and see a technical analysis of PCP-001 by the Cardano Foundation.

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Welcome @MatthewCapps,
great to see this happening right before the Cardano Summit.

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What does this mean for currently running stakepools? They stay at 340 until they do what, please? Thank you very much in advance :pray:t3:

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they can now choose to update their registration certificate to lower MinPoolCost from 340 all the way to 170 ada

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If you change the Fixed Fee, it usually takes about 3 epochs to reflect the changes. Would making the change a few epochs before October 27th, 21:44:51 UTC cause any issues? Or should the change be made on or after October 27th, 21:44:51 UTC?

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I don’t think the network will accept you transmitting a parameter value before that value becomes valid.

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Hi @Camp_Fire_take_Pool

I attempted in preview testnet yesterday (before param update at epoch interface): the new pool registration certificate failed.

Today in the new epoch (Preview epochs are 1 day only), the params.json file was updated, fetched fresh with:

cardano-cli query protocol-parameters \
    --testnet-magic 2 \
    --socket-path <path-to-socket> \
    --out-file params.json

The new registration cert sent successfully. You can see it registered:
https://preview.cexplorer.io/pool/pool1vhdl0z496gxlkfpdzxhk80t4363puea6awp6hd0w0qwnw75auae

Hope this helps

Stef

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Thanks for trying things out on testnet and sharing your experiences with us here.

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Hi Stef,

Thank you for sharing your experience and the solution you found. It’s great to hear that you were able to successfully register the new pool certificate after the parameter update in the new epoch. Your detailed explanation and the provided link are much appreciated. This information is certainly helpful to the community, and it’s always valuable to learn from each other’s experiences.

Best regards,
Camp_Fire_take_Pool

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