Just a note to all delegators that the first payment for delegating has been delayed an epoch (5 days) until 23 August 2020 due to the bug in Daedalus (not showing all pools) and that quite a few exchanges are still waiting to be integrated into the new Shelley system. We guess that in the next epoch as well Yoroi should be available with hardware staking capabilities, that would be a major plus and take concern away from those who do not want their private keys exposed – and this is totally understandable!!
In other news Charles Hoskinson mentioned that the d parameter – which is the amount of blocks produced by IOG (IOHK) will reduce very slowly and could take 200 days until the stake pools are producing all the blocks and the system is completely decentralised.
We are ready and looking forward to the next couple of epochs where eventually at least we can start producing blocks and earning rewards for our delegators. We of course could do with some more stake to ensure we get at least one block per epoch and hopefully more.
As a delegator their are things to watch out for and be aware of especially at the beginning of the staking period. These are:
1) Pool pledge. This is the amount the stake pool operator puts forward in Ada as a pledge that their pool in serious. Firstly make sure the pledge is fulfilled (look for a tick) – if the pledge is not fulfilled then there are no blocks produced. This can be checked on https://pooltool.io and https://adapools.org where there should be a tick against the pledge amount to indicate it has been met. Our recommendation is to order the charts by pledge amount first as this is an indication of the amount of investment a stake pool has contributed to their own pool.
2) Stake. Stake pools can be over saturated meaning that the more people delegate over a certain threshold there are no more rewards, which means in turn you get a lower ROS (Return On Stake). The saturation figure is around 207 million so look for pools with less stake than this.
3) Fees. Keep an eye on both the epoch fee and the variable fee for your chosen pool. The epoch fee (in pooltool) or the amount of ADA charged per epoch (on adapools – the second figure) is the fixed amount in ADA that is taken by the pool before the percentage amount to be paid out to delegators is calculated. Currently the lowest amount for this figure is 340 ADA per epoch and this covers the costs for stake pools for hosting the equipment that is needed to be running 24 hours a day and for their time in administrating the pool. The second figure is a percentage figure which is the amount of profit a pool produces.
4) We would recommend that you keep an eye on the charges and pledge level every epoch to start with. It is easy to attract delegators with huge pledge and low fees initially and then change them and hope delegators don’t notice. Currently there is no way to notify delagators when pledge or fees change so please be aware of this and check in occasionally on your wallet to ensure things have not changed dramatically.
5) As always remember your ADA never leaves your wallet and NEVER enter you wallet recovery keys on any website – whoever tells you do this.
Be safe and Happy Staking!!!