4 Tips For Choosing Your PERFECT Cardano Stake Pool: A Bid For Mission-Driven Pools
Ok, if you’re reading this you’re either a delegating PRO who’s got the system figured out, or you’re a ROOKIE who’s just started to bang the charts to find that PERFECT pool that will earn you maximum rewards.
I’ve got some sad news to start. MOST of the research you’re doing on AdaPools and PoolTool DOESN’T MATTER! Cardano is a decentralized network that’s set up on the principles of EQUALITY. What that means is that every pool, when functioning properly, has an EQUAL chance to average the right around 5% annual interest for delegators. There are 73 epochs per year, so your epoch return will be about .0684% on your staked delegation.
The worst thing you can do is jump from pool to pool, searching for trends, and scouring previous epoch returns. The system doesn’t work that way. Flipping TAILS five times in a row doesn’t alter the probability of the sixth flip. With this, every epoch is a fresh reset.
Now that you understand your rewards will average out, it’s time to pick a pool that you CONNECT with. It’s time to pick a pool that you think is FREAKING AWESOME. This is what matters folks. This is the beauty and backbone of what Cardano is all about. Making the world a better place.
So here are a few questions to help you decide the best pool(s) for you to PARTICIPATE in.
Does your pool have a MISSION?
It’s one thing to preach returns that are across the board AVERAGE, as they should be. It’s another thing to dedicate your time and money for the good of a positive cause. There are dozens of mission-driven pools out there who have MAGIC in their eyes. We see an opportunity to help our community, and we’re using Cardano as the conduit to CREATE POSITIVE CHANGE.
Here’s the golden nugget… MissionDrivenPools.org. Copy that and paste when you’re done reading this.
Is the pool ENHANCING the Cardano community?
Maybe they’re disseminating valuable info through podcasts, YouTube, or Reddit. Maybe the stake pool operator is a Cardano Ambassador, or they’re hitting the globe in a VW bus spreading the word about Cardano. Maybe they’re a Hotel owner in Barcelona that’s so passionate about the possibilities of Cardano, that they are vowing to change their name to Hotel Cardano after you delegate to them!
How much is your pool pledging?
As a Stake Pool Operator (SPO), we put our money where our mouth is. A pledge is the amount of ADA that a SPO stakes to their own pool. The higher the amount of ADA pledged, the more incentive a SPO will have to perform well. Watch out for pools that pledge a low amount. In general, those are pools you want to stay away from. The caveat here is that some trustworthy SPO’s are operating with incredibly scarce resources. So if you find a pool that looks to be match, but the pledge doesn’t meet your expectations, reach out to them. Find out their story. Make sure the pool isn’t a scam.
Is your stake pool operator a real person?
Of course they are! However you may not know for sure until you reach out to them. Shoot your potential SPO a PM and say hello. Ask them questions and feel out their response. There are hundreds of amazing pools, backed by real people with genuine excitement for Cardano. Let them convince you that you’ve landed in the right spot.
Peace to you, and good luck finding your PERFECT Cardano stake pool!
Written by: Rocky Lewycky of NOWgrantsARTISTS Stake Pool
