Ardana Stake Pool Alliance (ASPA) Public Announcement

Ardana
Ardana
Sep 2, 2021 · 4 min read

Ardana is the first decentralised stablecoin ecosystem on Cardano. We are honoured to be building on the Cardano blockchain and have been working tirelessly to do our part to help it succeed.

Stake pool operators (SPOs) make it possible for the Cardano community to support the network, generate yield on their ADA and provide support when necessary. We at Ardana believe you are exactly the kind of partners we want on board as we launch the Ardana Stake Pool Alliance (ASPA)!

Users of the Ardana ecosystem will be able to gain exposure to stake pools that share our vision and principles through ASPA. There will be a section on our website dedicated to highlighting ASPA partners in greater detail, along with in-depth threads, marketing campaigns, and social media promotion in collaboration with ASPA partners. Ardana will also invest a portion of its funds in ASPA-affiliated stake pools.

In order for long-time investors to get the most returns on their assets, lending is essential, even while their ADA is staked. ASPA seeks to create discussion and debate to aid in the development of the Ardana ecosystem.

If you are feeling inspired or are considering becoming a stake pool operator and would like to find out more, read on.

Overview of Stake Pool Operator’s Functions and Responsibilities

Firstly, a stake pool is a dependable server node that stores and manages the pooled stakes of multiple stakeholders in one entity. Stake pools are responsible for transaction processing and block production and use the Cardano node to validate how the pool interacts with the network. Stake pools allow several users to combine their resources and participate in the protocol without having to worry about running and verifying nodes individually. You don’t need a continual internet connection or to constantly watch the token value if you wish to participate (delegate) in a stake pool. All of these tasks are handled by the stake pool node on behalf of the user.

Stake pool operators are an essential part of decentralised Cardano. Stake pools enable systems that maintain the network’s long-term health and viability. In addition, stake pool operators allow other users to participate in the system and earn rewards without continuously hosting an active node.

A stake pool operator is a person who is in charge of setting up and maintaining the stake pool, which means they own or rent a server, are responsible for running and monitoring the node, and have ownership of the stake pool key. A stake pool operator can use their key to sign blocks, register, re-register and retire stake pools, as well as upload updated certificates. During re-registration, a stake pool operator can potentially exclude some stake pool owners.

What are the Benefits of Becoming a Stake Pool Operator?

Setting up and administering a pool may be fun and financially rewarding if you have the necessary technical skills and computing resources. You will not only have financial incentives, but you will also be directly contributing to the network’s stability and decentralisation.

To maximize returns as a stake pool operator, there are elements SPOs need to remain mindful of. You must draw delegates to stake their cryptocurrency in your pool. Interest from participants will be determined by stake pool desirability. Maximising the pool’s dependability and uptime will be the most critical components of attracting participants. Stake pool operators are also required to set substantial stake payout percentages.

Operating a stake pool is quite like running a business. You will attract more ‘customers’ — or stake delegators — by providing the optimum blend of reliability, rewards, performance, and desirability. Because of how stake pools function, operators can choose to be as active or passive as they prefer. Although, pools managed by more engaged and committed stake pool operators will typically perform better.

How to Join the ASPA

Any stake pools with a mission and purpose will need to fill out the ASPA entry form. If you know any other SPOs, please feel free to invite them to join us in this conversation. We will also leverage our IOHK ties for stake pools in ASPA to receive ongoing support.

Ardana

Ardana is an on-chain asset-backed stablecoin protocol and decentralised exchange stable asset liquidity pool built on Cardano. The stablecoin is overcollateralized with on-chain Cardano native assets facilitating borrowing and the decentralised exchange allows for highly capital-efficient trading between stablecoins and identical assets with low-risk income from fees for liquidity providers.

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