to mine blocks they need have some stake, I mined my first block thanks to a 50,000 ADA delegator who already left me…
How much ADA will you delegate to each pool?
What does a pool and it’s Pool Operator has to do in order to become a candidate to your next pool selection? GRC1 Pool meets all of your criteria and we do need your boost support. Any extra information from us is available upon request!
I get it that the Cardano Foundation wants to automate things around delegation to small pools. But when you run a small charity pool how do you weigh such a soft criteria into your randomizer? Social behaviour does not seem to be benefited by the measures above.
I had the same question (first reply) - seems as though we dont need to do anything. They’re set up to automatically select from pools that meet the critieria.
I think the new quarterly rotation makes more sense than the previous.
I suggest you to reduce the staked amount from 15M to 5M, so that you can triple the number of pools supported.
The other delegation program, from IOHK, takes into account the mission of the pools. The two programs are different and can coexist.
I am aware it’s not but pledge and delegation are taken into account for that, so one could pledge a lower amount and provide some form of value that would attract delegation.
A program like this is meant to provide a lifeline for smaller pools, maybe help them make a few blocks, generate some revenue to offset running costs and also make them more attractive to delegators, at least that’s how I view it, correct me if the goal is something else.
By having what is, in my opinion, a very high minimum pledge you’re excluding pools that would provide value in some other way that is not by simply holding ADA. I’m not saying that it is the foundation’s job to make the pools sustainable, but when a program like this exist I hoped it would help those with fewers resources too.
Perhaps there will be different ways of making that happen, and I have a few ideas that I want to work on.
Let’s not forget that there ARE two delegation programs (IOG and CF)! I believe we should not start a pool counting to get supported by programs like these, which again I feel is great to even have.
A pool must first be a robust pillar of the Cardano network, so a reasonable pledge must be considered. Everything else is an addition to the ecosystem and should help getting more delegators and differentiate a pool from another.
We are new to applying to this program and were operating off this post.
It does not mention a minimum pledge. Is there still time to try and meet the pledge?
There are two delegation programs!
That one is from the IOHK and different from the Cardano Foundation one mentioned above.
The IOHK program does not require a minimum pledge. The time for application has ended 15th of April for the second round 2021. Next one is in three months.
But let’s keep the thread clean, this should be about CF delegation.
OK very good to know! Thanks for clearing that up!
So there is still time to meet the 25k for this program?
Also, I think switching to a longer delegation cycle is good. I had an angel drop by with a large pledge for about a month and really helped give us a kick start. However, when they left to another small pool, there was a massive drop in delegation, which spooked other delegators to leave. The longer delegation gives the SPOs who are selected time to build and grow their non CF delegates to a level that is hopefully sustainable once the CF delegation is moved.
I don’t agree that the requirement of having minted blocks before is too much to ask. Without it, a lot of pools will just mint blocks when the CF stake is delegated to them, and when the delegation changes, they would just return to the situation of not minting blocks. So the ability to mint blocks with very small pools will just rotate between those pools. But a pool needs to be able to mint blocks more or less continuously to be sustainable. There is a k parameter and it’s not set to infinity… Else, everyone can just be a pool operator instead of a delegator.
If you’ve minted blocks before, you’ve proven that your pool can exist without the CF delegation, but this delegation makes it interesting enough for delegators from big pools/pool groups to switch to yours without losing much of their rewards. Because of the single pool operator requirement, this helps decentralisation. Also, I don’t necessarly think that the amount should be much smaller like some say here. I think it’s better to receive a bigger delegation less often, than a smaller delegation more often. Together with the longer delegation period (wich is a very good change), this gives you time to attract more other delegators because now you’re interesting enough to grow and hopefully stay large after delegation from CF moves on.
Also having minted blocks before proves that you’re able to set up, configure and run your pool correctly.
The minimum pledge requirement also makes sense because of the ‘skin in the game’.
Yes but that’s what the block production and rewards formula is for, here we’re talking about a program by the Cardano Foundation to delegate some funds to pools, and in that regard I’m just expressing my opinion that the pledge criteria seems very restrictive to newer pools.
For comparison sake, someone that invested in ADA in August 2020 (that is one of the highest points last year for ADA) would need to have invested 3350$ to have the 25000 ADA, nowadays that’s a 31000$ investment. That’s why I believe the criteria benefits early investors far more than it helps newer pools joining the space.
First of all, Thank you to all Cardano Foundation and SPOs! We all are doing an amazing work!
Secondly, I have a question: when is the date limit to meet all these conditions to be elegible?
I personally think this pledge amount is very restrictive to new pools, who I think are the most needed for this delegation program.
Thank you for your atention and your help!
robust in terms of wealthy you meant.
Hi IPIB_Pool, thanks for clarifying! I was not aware that there are two separate programs. Makes sense.
Unfortunately that is simply not true! I have seen pools that either because of luck have minted a block in the past but nothing afterwards or that a big whale delegated to them helping validate a few blocks and once the whale left, nothing.
So having validated a block proves nothing more that you have set up your node correctly. I still think that by having a minimum pledge amount gives a good incentive for the SPO to set up the pool correctly, else they lose money thus no need for this “no block, no delegation” cycle.