Cardano SPO #099: Coral Pool [CORAL]
Written interviews with Stake Pool Operators (SPOs) on the Cardano blockchain.
This week’s guest on the Cardano SPO column is a new stake pool operated by IT professionals based in the UK and offering a Patron Program to attract delegators: Coral Pool [CORAL].
The previous guest was a stake pool operated by a group of three tech-savvy enthusiasts on a mission to bring some fairness and freedom to the world of finance.
This initiative is a point of reference for everything Cardano and every week or two we will invite a Stake Pool Operator (SPO) to answer some questions and give us an update directly from within the Cardano community.
Hi, thanks for your time. Can you tell us something about yourself and your team, where you are based, and what your backgrounds are?
Coral Pool is operated by a team of experienced IT professionals based in the UK. We have been working in the IT industry for many years and have a passion for blockchain technology.
We are excited to be a part of the Cardano community and to contribute to the network’s growth and decentralization.
What’s the path that led you to Cardano and to become a Stake Pool Operator (SPO)?
Our team has been interested in blockchain technology for a long time, and we have been following the development of various blockchain platforms. We believe that Cardano has a unique approach to solving the scalability, interoperability, and sustainability challenges that other platforms face.
We were particularly impressed by Cardano’s scientific approach to development, which is backed by peer-reviewed research. As a result, we decided to become a Stake Pool Operator and contribute to the Cardano network’s growth and decentralization.
You’re a new stake pool, what has been your experience so far? And what’s your strategy to attract delegation?
As a new pool, we have faced some challenges in attracting delegators. However, we have a unique approach that we believe will help us stand out in the Cardano ecosystem.
We are offering a Patron Program to our early delegators, which offers a fixed payment to delegators. For example, a person delegating 100,000 ADA to our pool will receive 30 ADA extra per epoch. This fixed payment is in addition to the interest paid by the Cardano blockchain, which is approximately 3.5% annually. But this is only one example, as delegators could stake as little as 5,000 ADA and still benefit from our program.
We believe our Patron Program is a win-win for both us and our early delegators. This program allows delegators to try our pool with no risk of losing funds, and helps us to kickstart our operations and build a strong and reliable pool. Attracting delegators to a new pool can be a challenge, but we are confident that our approach will allow us to stand out and attract the support of the Cardano community.
What are you most looking forward to in the Cardano ecosystem?
We are most looking forward to the growth of Cardano’s user base. We are also interested in projects that are building decentralized applications on Cardano, such as NFT marketplaces, supply chain management solutions, and decentralized finance (DeFi) platforms.
We believe that Cardano has the potential to become a leading blockchain platform, and we are excited to be a part of its growth and development.
Great contribution. Any final comments? Where can people stay in touch?
We would like to invite delegators to join our Patron Program and help us to continue minting blocks regularly, which will in turn attract more delegators to our pool. People can find more information about our Patron Program on our website.
If anyone would like to reserve a slot, simply send us a direct message on Twitter. We would also like to thank the Cardano community for their support and enthusiasm for this exciting project.
Disclaimer: The opinions and views of the SPOs are their own and do not necessarily reflect those of the Cardano Foundation or IOG.
