The London Pool
Two stake pools for the Cardano network, based in London
0% margin until the start of October then 1.9%
|'LONDN'||-||14.7 million delegated so far|
|'UK1'||-||1 million delegated so far|
The London pool has now started producing blocks!
The first block was forged only a few hours after all the stake pools were first allowed to start producing.
This means the first rewards are due on the 23rd August.
Follow us on Twitter for updates, or feel free to email us with any questions.
The SEED pool
The 'UK1' pool was previously called the 'SEED' pool. This has been renamed to try and maximise the growth of the pool, and therefore the returns of it's members.
The change has also been accompanied by lower rates for existing members. The initial period of 0% margin is extended a month to the start of October, and the margin after the initial period is now 1.9%
The LONDN pool currently has a higher pledge level than UK1, however at present this makes very little difference to your expected returns. See the FAQ for more information on pledges.
We are experienced engineers based in London who are excited about the future of the Cardano network. We have decades of experience in software development and maintaining critical systems.
Running on AWS cloud infrastructure, the pools are designed to have very high availability. Monitoring and alerting are in place to allow us to respond quickly to any issues.
We have chosen to run more than one pool as this enables lower overheads per pool than just running one, which translates into lower costs for you.
Here is an example of a section of the monitoring system for the pool. This includes automated notifications of any potential problems.
It is critically important that any stake pool you choose has high up-time levels, as this has a direct impact on the rewards you will receive.
The fixed cost of the pool is 340 ₳ per epoch (5 days), which is spread between all of the people in the pool. This is the lowest level allowed by the network.
We have chosen an initial margin of 0% while the Cardano network establishes itself, and to minimise overheads to you while the pool fills up with people. Once the pool is established with enough people to share the costs, we will set the margin to the longer term planned level of 1.9%. We will not make this increase until at least the start of October.
It is important to note that this fee is not a percentage of your whole investment, but rather a small percentage of the rewards you will receive.
Is my delegated Ada safe in your pools?
Yes, due to the power of Cardano, when you delegate your Ada using Daedalus, it never actually leaves your wallet so it it not possible for you to lose your Ada to a stake pool.
Can I still spend my Ada once it has been delegated to your pool?
Yes, the Ada is still in your wallet and you can spend it as normal.
What is an epoch?
The Cardano network works in cycles of 5 days, each 5 day cycle is called an epoch.
What is cost per epoch?
This is not an upfront cost that you pay, it is a shared cost that comes out of the rewards of everyone in the pool.
At the end of an epoch, when the rewards for a whole pool are calculated, the cost per epoch is taken out of the pool's total combined rewards, and given to the pool operator.
This means that the larger the total Ada delegated to a pool (the controlled stake), the less that will be taken from your share of the rewards. Whereas if you were the only person in a pool, it would all come out of your rewards.
The Cardano network has set a minimum value for cost per epoch of 340 Ada, and this is the value most pools have chosen.
What is the margin?
Once the cost per epoch has been taken from the pool's combined rewards, a percentage of the pool's total rewards are then taken and given to the pool operator. This is the margin.
There is a large range in the margin values chosen across the different pools.
What is the pledge?
This acts as a boost factor for the rewards a pool receives/gives out.
e.g. if two pools have the exact same amount of total Ada delegated to them, with the exact same cost per epoch and margin, then the pool with the higher pledge will return slightly higher rewards.
Exactly how much more is complicated, and will in fact change over time. At the moment it makes surprisingly little difference how large a pledge is, but the Cardano network has declared that it will increase its impact over the longer term
What is the controlled stake?
This is the total Ada delegated to the pool. This is often expressed as a percentage of the total delegated stake across the whole Cardano network. This can be important as it effects how much of an impact the cost per epoch will have on your rewards.
The Daedalus wallet is currently showing 0 for all pools controlled stake. I assume this will be updated with correct values when the epoch ends shortly.
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