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Why delegate your stake?

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Why should i delegate my ada to socal stake pool?

That’s a great question! We would like to break that down into three questions and hopefully answer them as best we can.

Why should I delegate to a single pool operator?

I’ll sum it up in one word: DECENTRALIZATION. Let me explain…

Cardano aims to globally decentralize its network. The goal of a truly decentralized blockchain network is to prevent a single point of failure that shuts down the entire system. The Cardano blockchain would be resilient against attacks by colluding parties, malicious hackers, or even the creators of Cardano.

With this goal, Cardano created one of the most advanced, evidence-based and rigorously tested proof of take protocols, Ouroboros. Ouroboros can globally decentralize the Cardano blockchain however, Ouroboros depends on its human elements (stake pool operators and staking delegators) to make a healthy decision when attempting to decentralize the network. To be highly effective, Ouroboros needs human participants to make an educated and informed decision supporting decentralization. So, by delegating your ADA responsibly to a single pool operator, you are securing the network by keeping it decentralized and therefore, making it less prone to attacks. 

Wouldn’t I make a better return on ADA if I delegated to a bigger stake pool?

Not necessarily. Before every epoch, block slot leaders are randomly assigned by the protocol to stake pools using a sort of lottery mechanism. The number of blocks assigned to each pool is directly proportional to the stake of the pool, but it may vary considerably. Staking rewards need to be considered as average over time. A smaller pool will divide bigger shares of the reward amongst its delegators (since there are fewer of them) but will get chosen to mint fewer blocks. A large pool will mint a lot of blocks, but the rewards are smaller. Most pools not missing any blocks assigned to them will average the same return of stake regardless of the size of the pool.

What really matters is making sure that you delegate to a responsible pool operator who won’t miss blocks due to negligence. We strive for close to 100% uptime and 100% performance.

Why aren’t you a mission-driven stake pool by donating to a worthwhile charity like some other pools?

First, there are many mission-driven stake pools donating to worthwhile charities and we applaud them.

The reason this stake pool was created was to diversify our portfolio for long-term appreciation in the crypto market. Most mission-driven stake pools will donate to a charity using part or all of the variable fee which they deduct from your staking rewards. We don’t charge you a variable fee, so you keep all your staking rewards. So, maybe we are mission-driven…our mission is for you to keep all your staking rewards.

There are two fees that stake pools have, the fixed fee and the variable fee. The fixed fee is mandatory, and Cardano set the minimum at 170 ADA. Stake pool operators can increase this amount if they choose to do so (we keep ours at the minimum 170 ADA). The fixed fee is only taken from the first minted block during each epoch. The variable fee is optional and can be set from 0% to 100%. If you see a pool’s variable fee set to 100%, it is considered to be a private pool. DO NOT delegate to a private pool because you will not receive any staking rewards.

About SoCal

We are a family living in Southern California running the SoCal Stake Pool since July 2021. We keep our nodes up to date, rotate our KES key in a timely manner and always check the slot leader board before doing any node maintenance or upgrades to ensure we don’t miss any blocks assigned to us.

Our Setup

We have two internet service providers; both have 99.9% uptime. All our servers (relays and block producer) are 4 core (3.6GHz) CPUs, 32 GB RAM and 500 GB M.2 drives. We built these from quality components focusing on reliability. We made sure to have more RAM and hard drive space to accommodate the load that future Cardano upgrades might have on our system. No system would be complete without a backup power supply. We use a CyberPower Sinewave UPS System.

3 servers, 2 modem/routers, 1 backup power supply and a Raspberry Pi (hosting this website you’re on now!) all consume just 88 W/h.

Contact us

Thank you for stopping by. If you have any questions, please contact us using the links below. God bless and have a great day.