Pool Operators can now change pool fees

That’s obvious. If someone is away from their PC /mobile and not logged into their wallet they can’t possibly be informed. That’s obvious and just picking at straws

…but makes it clear that “the user must/should be informed” is not as simple and straightforward as it may sound, regardless of whether the pool wants it or not.

In my opinion the protocol (even if not foreseen in the design specs) could enforce a special delay for such changes, in order to handle “last-second” changes, executed by a pool 1-2 blocks before an epoch switch. Note: the last block of each epoch is the snapshot for all delegations and becomes valid after one complete epoch. (eg if a pool change margins in last block of epoch 10, nobody can react and conditions become effective for whole epoch 12. All delegators reaction durring epoch 11 become effective only in epoch 13)
Such an enforced delay could give the wallets and third party services some time (egg +2 epochs) to detect a change and bring this information to delegators attention.

But the notification and attention of users is not part and not a task of the protocol, I would say. Because it simply can’t even if users want. Also, they shouldn’t rely on the pool itself.

I already gave that order when setting it… That’s when you need the keys… After that it’s up to the smart contract to execute it once the condition is triggered.

theoretically you could include a second or even more certificates for alternative pool ids. but makes things complicated. How to ensure nobody replay your public posted alternative certificate as a valid re-delegation? having all kind of alternatives also mean more data permanently stored on chain. And you can’t know if your alternative pools still operate at the same conditions, when your primary one day decide to increase his margins.

What people also might forget: epochs are not necessarily days (24h)
For a testnet it’s an appropriate setting because it keeps up daily attention and activity.
But for a main network, longer epochs provide more security and also a calmer market.

My idea is that wallets inform a user when they are online, or for Yoroi mobile it could have a notification which alerts a user via their mobile, when the fee changes. Pegasus is doing this at the moment, which will notify you via your mobile even when the app isn’t running.

This update was also brought in without any information being given out to the community prior to the update or now. This isn’t helpful, how can people be expected to look out for something they don’t even know is possible.

i think we should have at least a Daedalus mobile app for notifications

Any instructions on how we can change the fees? :slight_smile: Registered my pool on day 1 and reregistering was to big of a hassle :confused:

much appreciated!

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I think there should be an alarm when changes are made by increasing rates, and a 6-epoch (30days) time limit for changes to take effect giving delegates time to switch pools if they wish. It would also be good to have a limit to increase the rates, each change could only be a maximum of 10%, thus preventing the creation of pools with a 1% fee and then increasing it to 100%

another point to think about is: can allowing fees change bring risks? Does not allowing changing fees bring more risks? If we do not allow to change the fees the only problem I see is that the stakepool operators who want to change the fee will have to create another one from scratch. Allowing to change fees on the other hand can create several problems, I already believe that cardano’s blockchain is complex, I don’t think it is necessary to create more points of failure

The small delegators could be completely in the mercy of pool operators. A friend of mine only gets some 0.2 ada per epoch, imagine how the transaction fees will chip it all away by just a few pools exploiting this and he have to move to a new pool if the fees are set ridiculously high.

To anyone worrying about silent fee changes:
The Pegasus App has been updated with the Fee Change Alert feature to notify you in case a pool changes its fees. You can get the app from https://pegasuspool.info/mobile

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Perhaps there could be a symbol ie a lock symbol if an operator pledges to never tamper with the settings?.

I am now being informed this feature was removed in update 0.8.11, so operators attempting to change their fee will be rejected.

This is definitely a feature required, but with the right notifications along side (alerts in the users wallet). Maybe soon.

@Andy_Hendrikx @adatainment do you mind closing this thread now :slightly_smiling_face:.

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Surprised too, to read that this feature was never discussed. Seems to go against fair “demozratisation” of ADA and could in theory lead to very bad things. I agree that revising this feature should be open for serious discussion.

This feature has always been in the plan and described in the papers. Operators will be able to change their fees, the wallets will update people if the pool they are delegating to changes fees.

The feature for pool operators to change fees without ada holders being informed has been removed. :+1:

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Thanks @Lgbeano. If you ask me it’s better to leave this thread open. The discussion is healthy and valid.

Even though the feature has been removed in 0.8.10, it will be back sooner or later.

Wonderful to see how quickly @Pegasus reacted and even offered a solution.

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In my opinion an almost perfect way to deal with this challenge: Users (delegators) can remain anonymous while receiving an almost instantaneous push notification on their mobile phones. So they don’t have to constantly watch and check their wallets. And there is also no need to rely on pool communication.

The last epoch control change is still not solved in this way, so I agree, the temporary removal of the feature makes sense.

Edit: @Lgbeano I meant the Pegasus app solved this in an almost perfect way.

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Pegasus app has done this :slightly_smiling_face:.

I now get a notification to my mobile if any of the pools I am delegated to change their fees, the app alerts my mobile. :slightly_smiling_face:

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