Hi I recently became interested in operating a bare metal stake pool using my sysadmin skills / dev skills to become part of the community. However just straight off the bat It seems unnecessarily daunting to reach the 2M Ada threshold to consistently be selected for block.
To combat this FUD, I have scoured the forums and found someone saying,
“Yes smaller pools will have less chance but more reward when they are eventually selected so it will average out over a long period of time. The advantage of being part of a large pool is more frequent but smaller distributions.”
Does the above statement ring true to you?
Furthermore, it appears that because of the barrier to entry we are seeing a rise in Multi Pools SPO’s. I don’t blame people for doing whats best for themselves but I think I have an Idea for a mechanism to combat this and wanted to bounce the idea off someone with more experience with Cardano.
It’s a simple idea realy, but shouldn’t there exist some cardano funded platform that facilitates creation of partnerships to form a Stake Pool to keep the system as decentralized as possible?
Ok so to get the ball rolling. It would be cool if there was a platform where you could stake a certain amount of ADA into a stake pool operator’s who’s delegators are transient. Let’s say you have only 10K ADA. Then you can wait will 200 other people put up 10K ADA to suddenly create a 2M ADA stake pool that will regularly get selected for a block.
This platform would:
take all the input necessary from people that want to to partner up for a stake pool
take care of the Devops part of provisioning the pool onto a VPS (AWS, Azure).
Provide Pool Management interface or set of contract playbooks for partners to execute or whatever (shows how much I know)
Just spit balling anyone with an imagination care to indulge in commenting?
Hi, New to the aspect of becoming a stake pool operator. I have a substantial amount of ADA but not 2M. As someone that believes in decentralized network and someone that has a substantial amount of ADA I have contemplated opening a stake pool. However, I have a full time business and virtually no experience in IT and DevOps. As a business owner I hire the right people for IT and Cybersecurity. I do what I do best and let them do what they do best. I think there should be some mechanism that someone like me could be a stake pool owner and enter into some sort of a contractual arrangement with a Stake Pool operator like yourself to come to a mutually beneficial arrangement. Details would obviously need to be discussed but I would not have substantial ADA if I didnt have a business, and you would not have the knowledge you have without your experience as well. Seems like maybe people like us should discuss things. Only issue I have is obviously how do you enter into a business venture like this with someone you hardly know? Obviously these business “marriages” would need a significant amount of trust on both ends. Just throwing the idea out there in case others have thought the same as me. Thoughts??
If u ask me u can setup ur own pool; u have enough guides and resources to do that… and of course if you will need answers, we , the community are here to help you.
Perhaps u don’t have 2M but you will found delegators and in time maybe you will have 20M stacked to your pool!
I have a small pool, great project ongoing but I am working hard to find new delegators (last year I was ready to give up)… so u should know from the begining that finding new delegators for your pool could take time, hard work, etc
Hi Alex,
Thanks for taking the time to respond. I am on the test net as I type this . I am going to run a stake pool whether at a loss or not. Diving into developer docs to see what this Gougen magic is all about! Excited to be part of the community. Cheers.
Hi, thanks for taking the time to respond. From checking the community it looks like this sort of idea that you and I are toying with is a shared sentiment at least among some of us. I am new to smart contracts, but I believe that using smart contracts their will soon be a way to establish the trust necessary to connect people like you and I to form a mutually beneficial relationship.
Namely I think that in the future:
thier will be a social network platform that will connect ADA holders with IT personnel to make it easy and secure to form Unions to compete with bigger pools.
Stakers might be able to boost their rewards by contracting those with IT skills who have little ADA but the skills to boost rewards for stakers.
IT Workers might be able to freelance their services to earn more ADA than they could from running a stake pool with barely an stake.
. I am going to run a stake pool whether at a loss or not. Diving into developer docs to see what this Gougen magic is all about! Excited to be part of the community. Cheers.