Beyond YYC official Cardano / ADA pool!

[jacky4566]

Epoch 281 is done.
YYC pool produced 0 blocks.
Our Pool rank is #1362 and with an active stake of 5088 we have a 0.5% chance of getting a block per epoch.
For the guaranteed rewards scheme I have the following:

User	Sum of Calculated Rewards
Taemo	0.476552513
LilDrunkenSmurf	1.047219002
R-Audi	0.634589041

[spikerS]

can someone ELI5 about what is going on here?

[LilDrunkenSmurf]

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can someone ELI5 about what is going on here?

ADA is a crypto that's POS (Proof of stake) vs POW (Proof of work AKA mining).
You essentially "stake" your wallet, by putting it up as collateral to confirm transactions in the ecosystem. You pick a random pool to stake with, as they run all the hardware, and the pool earns coins off that. They distribute it out to anyone that's staked. The more you stake, the more you make. Typically a pool this small wouldn't make anything (there's not enough money in it yet), so as compensation, he's paying 5% out of pocket to try and get the pool going. Usually the more people that stake, the higher up the pool is, which makes more people stake in it.

TL;DR - We're earning interest on our crypto, specifically Cardano (ADA).

[spikerS]

ok, so what do I have to do to get in on it? I don't have any cardano, but i have some etherium

[jacky4566]

Glad to see your interested SpikerS!
See my first post.

1. Sell Etherium, Buy Cardano (ADA)
2. Transfer ADA to personal wallet, Daedalus and Yoroi are both great and easy to use software
3. Stake the wallet to YYC pool

Your coins are not locked to the pool, you can spend and sell them as you please without any interaction with the pool.
Think of Staking like voting ballets. You are voting that our pool verify transactions and we get rewarded with new coins and transaction fees.

[ExtraSlow]

So buy them, stake them, sell them, and still get rewarded for stake?

[jacky4566]

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So buy them, stake them, sell them, and still get rewarded for stake?

You only get staking rewards for the coins you own.
Rewards are calculated every 5 days these. Referred to as an "Epoch".

[spikerS]

well, I stuck some coins and I think I did it right and staked the YYC pool. I don't know if you can tell if I did or not, or if I did it right.

[jacky4566]

Yes i can see your delegation SpikerS.
You can check here under delegators.
https://adapools.org/pool/1795531808...0c04e02015550c

[spikerS]

ok cool. I will add more later now that I did things right.

[jacky4566]

Epoch 282 is done.
YYC pool produced 0 blocks.
Our Pool rank is #1350 and with an active stake of 5391 we have a 0.5% chance of getting a block per epoch.
For the guaranteed rewards scheme I have the following:

User	Sum of Calculated Rewards
Taemo	0.582974807
LilDrunkenSmurf	1.276908878
R-Audi	1.269612732
SpikerS	0.023287671

I also have a mystery delegation of 269 ADA. Can anyone claim that?

[nzwasp]

How much does R-Audi have staked to generate 1.2 per week or when ever? Just trying to get a sense of how much to stake when i eventually get money for crypto again.

[kenny]

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I also have a mystery delegation of 269 ADA. Can anyone claim that?

That's me

[spikerS]

I also sent over some more ADA to stake. Again, not sure it worked lol

[jacky4566]

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How much does R-Audi have staked to generate 1.2 per week or when ever? Just trying to get a sense of how much to stake when i eventually get money for crypto again.

I am paying 5% yearly compounded per Epoch. Epochs are every 5 days.
It also works out to 0.07% per Epoch if you prefer.
Ill be paying out the entire rewards at the end of Epoch #310 and making a decision what to do then with the pool.

@Ken Got you thanks.

@spikerS I also go your extra coins. Remember you only need to delegate your Wallet. If you add or subtract coins from the wallet that is automatically in the pool.

I'm glad we are generating traffic on this!

[spikerS]

ok, that's what I thought @Jackie 4566

I will keep adding periodically as I mine more and transfer into ADA as I get paid out.

[R-Audi]

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How much does R-Audi have staked to generate 1.2 per week or when ever? Just trying to get a sense of how much to stake when i eventually get money for crypto again.

926

[2Legit2Quit]

I think I have 300ish ADA from back in 2017, I'll check my wallet at some point and see if I can figure out how to allocate it to the pool

[jacky4566]

Epoch 283 is done.
YYC pool produced 0 blocks.
Current Price of ADA $2.50 (CRAZY!)
Our Pool rank is #1354 and with an active stake of 5487 we have a 0.5% chance of getting a block per epoch.
For the guaranteed rewards scheme I have the following:

User	Sum of Calculated Rewards
Taemo	0.709264
LilDrunkenSmurf	1.506756
R-Audi	1.905071
SpikerS	0.046591
Kenny	0.184247

[spikerS]

man, i feel like a minnow in the shark pool LOL

so, these calculated rewards. what are they? how much is the pool generating in the terms of overall profit? is this sum for this epoc, or from when each person joined? in my instance of 0.04, that is what? a %age of a ADA coin?

sorry, I don't know what I am doing, or what is going on. Maybe it is FOMO or just wanting to help out and learn. I dunno, but, i think a lot of this is over my head as I really don't understand much about this or crypto in general.