Pledge Reduction - Snapshot Considerations


I’m seeing various pools reducing their pledge, probably to cash out some of the price earnings from the current ATH.

Recognized that some of the pools are changing the pledge parameter of the pool and immediately reducing the amount of ADA of the owners account.

My understanding is that this will lead to lost rewards since temporarily the pledge is not met.

Taking a look on pooltool and adapools i see conflicting results there.

Adapools just compares the latest announced pledge with the current owners balance and shows everything being OK.

Pooltool shows that the pledge is not met because still the old Pledge is considered to be active and the current owner’s wallet is already keeping less ADA.

Which approach is correct now? Does a owner need to wait until reducing the owners wallet after an announced pledge change or not?


264 (5.5 - 10.5.)
7.5. pledge down from 200k > 100k
immediately cached out during epoch 264

265 (10.5. - 15.5.)
11.5. pledge down from 100k > 50k
immediately cached out during epoch 265

→ Will delegators of this pool loose their rewards for epoch 264 and 265?

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SPO can reduce pledge but must update his pool registration and wait for synchronisation before withdraw ADA.

Be extra carefull, if the pledge is not met, there is no reward at all.

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Ok, but is it Ok to happen in the same epoch if the order is correct and synchronization was successful before reducing the owner wallet?

To be safe, update the pool with the reduced pledge and wait 2 epochs before withdraw ADA.

Same thing if you want to add a new owner wallet and transfert funds.

Pooltool shows it correctly. If pooltool says pledge not met then no delegates will receive rewards for that epoch.

Adapools knows theirs is wrong but leaves it anyway. More interested in filling ad space than providing useful info.

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It takes 2 epochs before changes to a pool are active. If you do not meet the pledge before the changes are active, you and your delegators will not receive rewards.

The latest version of cardano-cli v1.27.0 makes this a lot easier, rather than querying ledger state you can now check your pool parameters via:

cardano-cli query pool-params --stake-pool-id 2518d909e839ee7dd775c933172a58bbc3339ecf0d6af7d1146b5f47 --mainnet

poolParams is the currently active setting.
futurePoolParams are the settings that will be applied after 2 epochs.


Ok i see.

I was wondering about this because:
If the balance of some delegated wallet is changing this is getting active in 2 epochs as well.

So I thought maybe Adapools is right because changing the defined pledge takes 2 epochs to get active but also the snapshot of the owners account still may be taken from the 2nd last snapshot.

If both changes have the same delay of 2 epochs it should be OK to do both at the same time.
The question is now: Does the Rewards calculations Pledge Check compare:
a) the active poolParams against the current live stake of the owners account (pledge)
b) the active poolParams against the current active stake of the owners accoung (pledge)

Sorry if it feels like I’m asking the same question over and over again.
But it’s still not clear for me how this scenario is really calculated.

The live stake can change at any time, active stake is based on snapshots and is the only thing that factors into Reward calculations.