Want to Create Your Own Stake Pool? Here's the Tips

Hi,
I spend 4 days and night just to make my pool up and running. So, here’s some thing that I want to share to you all who are planning to create their own pool. Maybe my stupidity and carelessness can cut you guys couple of hours looking the answer from the forum and telegram channel. (sorry if I take the fun part LOL :laughing:) And also some tips that I use just to make your life easier. Any critics and suggestion are welcome.

  1. If you plan to create stake pool. Make sure you know that you will need 2 VPS Service or maybe 2 server with IP public address. 1 is for block producing node and the other is for relay. (I just know that later after I read whole documentation :cold_sweat:)

  2. The specification that you’re looking for is 2CPU, 4GB Ram, 50GB for both server. The most common stakepooler’s use is digitalocean which will cost you around USD40.00 per month/node. So the total is about $80. Or you can find your local VPS service, I guess that’s much better for geo location purpose.

  3. Have your Daedalus wallet ready at least 2 ADA (for Key) + 500 ADA (for Pool Deposit) + Your pledge Value. I spare about 25 ADA more just for trial.

  4. All ADA value is in lovelace means you have to x1,000,000 (one million). For example 2 ADA = 2,000,000 lovelace.

  5. The format of pool-margin is 0.0x means if 4% is 0.04

  6. The minimal pool-cost is 340 ADA. Just keep it that way

  7. Remember to open port 3000,3001,3002

  8. The format of --metadata-url https://icryp.net/yourmetadatafile.json yes you must write the json file.

  9. Remember to install tmux, the command that you should remember

tmux new -s workingterminal

(you can change workingterminal to every name you want), Ctrl-B D to detach, and

tmux attach-session -t workingterminal

to re-attach.

  1. The most used command that I use when I do the installation is to get transaction hash and check the ttl so what I do is I add this in ~/.bashrc

alias mybalance=’cardano-cli shelley query utxo --address $(cat payment.addr) --mainnet’
alias ttlnow= ‘cardano-cli shelley query tip --mainnet’

and remember to source it. So later if you need to know your hash or your balance just type mybalance and viola.

  1. Have a text editor beside your terminal, write and calculate all the transaction before you do in terminal. This will help you a lot.

  2. If you do something wrong when generate stake pool registration certificate or you want to update the pledge value, pool margin, etc. Just do everything all over again and when you submit the pool certificate and delegation certificate just deduct your balance with fee, no need to deduct pool deposit again.

Hope this will help you.

Enjoy the fun and if you think you don’t want to make your own pool kindly delegate to [ICRYP]

Thanks

8 Likes

Great advice! Thanks for sharing :slight_smile:

1 Like

You’re welcome…

Tmux and Alias might work on macOS, but they will not work on Linux. It should be tmux and alias in all lower case.

Sorry, I was copy paste from my note… And thanks for your info, I already fix that…

In case of VPS Service, don’t we need a public IP address?

I buy the VPS service with IP public.

Are you making enough to cover the cost of running the pool?

To be honest with you, for the small pool like me, the answer is “no”. I’m waiting when they raise K and reduce D and I really hope that there are more chance to get more delagation from ADA owner. Thanks for asking. Good question.